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Nairaland Forum / Nairaland / General / Business / CBN Lifts Ban On BDCs, Introduces New Operational Mechanism (25547 Views)
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Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by pharmagba: 8:38am On Aug 19, 2023 |
In Nigeria, Organisation don't come out clean with their records. CBN should have made them digitalize their operations and let watch their records themselves |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by JaskanFactor: 8:38am On Aug 19, 2023 |
every time they come out with a new policy , naira falls even faster 1 Like 1 Share |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by Naajjii: 8:39am On Aug 19, 2023 |
TooNoisy:So we got to wait till 2025 for dangote refinery to start working. Don't you think that government can as well build another refinery before then? |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by saysoo: 8:40am On Aug 19, 2023 |
nlfpmod:Try and quess policy. Na dis kan engilishi dey supol de mata. Wetin una wan do fur beta engilish Ebola? |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by victorVIC1(m): 8:42am On Aug 19, 2023 |
Now this is a step in the right direction. The previous ban on their operations was counter productive. Banning BDC would have been only advisable if the bank could meet up with FX demand. Rather you regulate their operations |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by Blazebond(m): 8:44am On Aug 19, 2023 |
Was the ban being enforced before? Who do you think is responsible for all this dollar madness? I went to FCMB,the airport road branch in effurun,delta state yesterday to collect dollars from the bank because I bank there and I was called to come and collect that there is dollars,on reaching there,this people where offering me 80 dollars instead of the 2500 that I said I wanted,right there sef some other person gladly collected 20 dollars,so u can imagine the madness going on in this country,the banks are hoarding the dollars because of the recent crash of the dollars against the NAIRA,they and the BDC's are in partnership in this nonsense, government needs to do more and clam down on this nonsense. |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by Arijude(m): 8:44am On Aug 19, 2023 |
JaskanFactor:is it falling again? |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by frankson1(m): 8:47am On Aug 19, 2023 |
IconicR: They call it "trial and error' but I'll tell them that it's the right thing to do when things aren't working. They would have retraced, studied the system before coming out with 'solutions'. The Nigerian economy had been messed up for years and it's not going to take 2 nights to change things. 2 Likes 1 Share |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by OmoNla99: 8:47am On Aug 19, 2023 |
IconicR:Are you people not ashamed? Still mentioning Jonathan’s name that left government with dollar less than NGN200 more than 8years ago. He saw fuel subsidy isn’t sustainable and tried to stop it. But your Oga’s back then staged a protest and the rest is history today. The worst of Jonathan’s government is better than this present government. 4 Likes |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by ORIENTATION101: 8:47am On Aug 19, 2023 |
oz4real83:calm your balls down. It is not every govt policy you rush to condemn. The policy is only meant for forex stability to reduce speculations. We can't continue to allow speculators to determine the value of naira. |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by Procashtips(m): 8:48am On Aug 19, 2023 |
oz4real83: See them fighting symptoms instead of the disease. Are we sure people use their brains in Nigeria when it comes to anything government? |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by Madups(m): 8:50am On Aug 19, 2023 |
Insanity nor dey tire you? IconicR: |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by miqos02(m): 8:53am On Aug 19, 2023 |
flokii:you don't seem to know this is another avenue for bdc operators to also enjoy free money. YOU REALLY DON'T KNOW. I laff in IJEBU. |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by frankson1(m): 8:53am On Aug 19, 2023 |
pharmagba: I think this is where Bosun Tijani should come in. For the sake of transparency, all transactions should be digitalized for easy traceability. 1 Like |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by Nobody: 8:54am On Aug 19, 2023 |
Madups:Omo radarada Kilon sele this early morning |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by OmoNla99: 8:55am On Aug 19, 2023 |
The present dollar to naira fall isn’t sustainable. The dollar to naira will rise in a couple of weeks when the government exhaust the $3bilion borrowed to sustain it. 1 Like |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by femicyrus(m): 8:56am On Aug 19, 2023 |
Generalyemi:Trial and error is better than "I don't care" approach of buhari. At least efforts are being made to find solution. Almost all scientific inventions are products of trial and error |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by j0rdannkyle: 8:57am On Aug 19, 2023 |
IconicR: But this was a mess you people supported and approved. Everyone remembers how your principal was one of the foremost supporters and a close ally of the people who left this so called mess. Now, since birds of a feather flock together, and you all are cut from the same cloth (your party) why should we expect anything different from you and yours? This isn't shade or anything. I'm genuinely curious, as to why you expect us to have hope in you |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by Globad(f): 8:57am On Aug 19, 2023 |
Rich4god: Where did you read this in the report? 1 Like |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by Globad(f): 8:58am On Aug 19, 2023 |
Procashtips: What's your suggestion? |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by Globad(f): 9:01am On Aug 19, 2023 |
Rich4god: How did you arrive at this interpretation? From the headline? |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by Globad(f): 9:02am On Aug 19, 2023 |
Proudlyomonna: It's only someone that's mentally unstable that would state that others who think different from him is mentally unstable |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by slowice(m): 9:02am On Aug 19, 2023 |
Same party doing and undoing them self, no sense of direction. They hailed themselves when the ban was effected and hailed themselves again when the ban was lifted.... Una dey mad wella ![]() At least they can't blame pdp for their ineptitude 1 Like |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by femicyrus(m): 9:02am On Aug 19, 2023 |
oz4real83:You don't know the level of damage BDCs is causing the naira. Irrespective of all you mentioned as way forward, Allow BDCs to dominate the forex market and see naira fall to N5000 to $1. It is called "market forces" for no reason. These are forces of darkness |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by Clentuzbaba(m): 9:02am On Aug 19, 2023 |
oz4real83: And all these should be done within what time frame? |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by Globad(f): 9:03am On Aug 19, 2023 |
KEVIND: How does this amount to moving in circles? Did you read the report? |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by Globad(f): 9:04am On Aug 19, 2023 |
oz4real83: I challenge you to explain how exactly this is a dumb policy. |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by Globad(f): 9:04am On Aug 19, 2023 |
Yugoslavia247: Where did you see policy somersault in the report? |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by Globad(f): 9:06am On Aug 19, 2023 |
shortgun: It's so easy to criticise. Everybody knows what the problem is So, what did you read in the report (not the headline) that's making you criticise, lambast and mock others like this? |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by owagbeba: 9:06am On Aug 19, 2023 |
Rich4god: A simple question, why can’t bank take Naira and process fx remittance for their customers at spread rate introduced by CBN? The chase for physical, paper Dollar is causing this market distortion. BDCs have perfected RMB/YUAN remittances, you pay them naira, and they credit Chinese bank account in RMB. |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by oz4real83(m): 9:07am On Aug 19, 2023 |
ORIENTATION101:when the politicians were mopping up all the dollars in circulation to conduct party primary election, they forgot the pressure they were putting on the naira. It is in that period the exchange rate skyrocketed. |
Re: CBN Lifts Ban On BDCs, Introduces New Operational Mechanism by owagbeba: 9:08am On Aug 19, 2023 |
Globad: In past CBN gave BDCs $10,000 weekly… Emefiele cancelled that. Now we are back at it. Who knows how much they get weekly from CBN |
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