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Nairaland Forum / Nairaland / General / Business / ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars (16398 Views)
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Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by stagger: 10:27pm On Apr 07 |
iichidodo: CBN is simply paying subsidy on the Naira-Dollar rate. Until the core fundamentals change (stop fuel imports, cut down on dollar demand for school fees, medicals, etc), it won't last. 2 Likes |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by Konquest: 10:36pm On Apr 07 |
Elliotwaveforec: |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by SenecaTheYonger: 10:57pm On Apr 07 |
Elliotwaveforec: Lol m. Do you know how much CBN spent in the last month to do this? Do you think they can do this forever? Oil revenues is still low and incoming revenue cannot support it. You think they can spend this kind of money for 12 month? For 4 years? lol we will not even have. Foreign reserve by the time they’re done 1 Like
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Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by Elliotwaveforec: 12:40am On Apr 08 |
GeneralDae:Correct! |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by Elliotwaveforec: 12:46am On Apr 08 |
SenecaTheYonger:That was during Emefy's time! CBN doesn't spend a dime to defend the Naira again. Forex inflows coming from the nnpc crude oil sales, diaspora remittances, and high demand for government treasury bills by foreigners, owing to increase in interest rate by the CBN. 1 Like 1 Share |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by Asswipemod: 1:11am On Apr 08 |
RealLordZeus: Amin!!!!! 1 Like |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by Asswipemod: 1:18am On Apr 08 |
Elliotwaveforec: It's actually Kadoso Mutairu aka seunmsg! Sorry, it's Cardoso Michael Yemi. Cardoso is their master! |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by Asswipemod: 1:22am On Apr 08 |
DeLaRue: The country owes no obligation to satisfy BDCs. Kapische? |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by Asswipemod: 1:24am On Apr 08 |
KillIgbohoN0W: Go and kill him now. Igboho na your mate? |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by Asswipemod: 1:26am On Apr 08 |
lexy2014: Have you been living in Neptune? |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by bewla(m): 3:03am On Apr 08 |
Elliotwaveforec:urgent 2k |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by drololaaof: 4:22am On Apr 08 |
johnjose68:See shylock oh ,so you have idea before yet you are happy when the naira is plunging. Why not put idea forward in February? |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by SenecaTheYonger: 6:31am On Apr 08 |
Elliotwaveforec: Una be olodo oh. This news came out yesterday. Check the time there |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by abysirius(m): 6:46am On Apr 08 |
Eleribu ni won! benuejosh: |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by udomonday: 7:01am On Apr 08 |
Elliotwaveforec:who cares who is doing the job as long as the job gets done. 1 Like 1 Share |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by MrSly(m): 7:49am On Apr 08 |
benuejosh:Naira is now #1250. Compare it to what was there before APC took over. It is only clowns and those begging for appointment such Reno Omokri that will praise this administration so far. |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by MrSly(m): 7:52am On Apr 08 |
KingKO22:Inferiority complex dey worry you, all of you from Yoruba. |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by lexy2014: 8:09am On Apr 08 |
Asswipemod: since you have not been living on Neptune, am surprised that you could not answer the simple question. what opportunity did they have and how did they misuse it? |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by Basic123: 8:21am On Apr 08 |
stagger:Bad belle Let CBN come out and claim they are still paying subsidy. |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by nawaforyouo: 8:27am On Apr 08 |
SenecaTheYonger: Omo, we are in for a long ride... anybody thinking Naira will come down to less than 1 k and remain there is daydreaming 1 billion USD in 18 days? No wonder they are not fulfilling their obligations to the BDC by providing dollars to them after they have paid Naira! This government ehn! the more you look the blinder you become |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by GeneralDae: 8:32am On Apr 08 |
nawaforyouo:But they also paid about 1.5 Billion dollars which was the final backlog they paid. So after doing this and defending naira, reserves only reduced by 1 Billion dollars. |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by nawaforyouo: 8:38am On Apr 08 |
GeneralDae: noted. My issue here is that the defense of the Naira is a continuous process, and the more they do that the more they dip hands into the already scarce reserves. Not to talk of the interest to be paid on bonds coming nearer and nearer by the day It simply means that revenue from oil sales is not enough... We still need a long term strategy to address this matter Well , so far, it is working. The Naira gaining over 600 Naira is no small feat. |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by motayoayinde: 8:47am On Apr 08 |
Basic123: Nice one. 1 Like 1 Share |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by Kukutenla: 11:05am On Apr 08 |
It seems this BDCs are enjoying more dollars coming from the FG The question now is what was the whole point of sinking the naira to criminal depths when you will still turn around to defend it This merry-go-round has hurt the economy in no small way and no one will be held responsible for how badly the economy was managed in the last few months It is pitiable indeed |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by Asswipemod: 11:15am On Apr 08 |
lexy2014: I'm not obliged to answer any silly questions. Can't waste my time explaining and breaking down things to aliens. |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by lexy2014: 11:27am On Apr 08 |
Asswipemod: are u obliged to say this? Asswipemod: since you have not been living on Neptune, am surprised that you could not answer the simple question. what opportunity did they have and how did they misuse it? |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by lexy2014: 11:29am On Apr 08 |
Elliotwaveforec: how do you know tat CBN does not spend defending the naira again? what made the price of dollar rise so high initially? |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by Asswipemod: 11:30am On Apr 08 |
lexy2014: Go back to Neptune and leave my mention alone. Doing this won't get you anywhere. |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by tamdun: 11:31am On Apr 08 |
stagger:All country do these,they defend their currency |
Re: ABCON To CBN: Reduce FX Rate So Our Members Can Bid For More Dollars by lexy2014: 11:32am On Apr 08 |
Asswipemod:are u obliged to say this? Asswipemod: since you have not been living on Neptune, am surprised that you could not answer the simple question. what opportunity did they have and how did they misuse it? |
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