Stats: 3,187,373 members, 7,932,311 topics. Date: Tuesday, 27 August 2024 at 01:15 AM |
Nairaland Forum / Nairaland / General / Business / Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN (25603 Views)
41 Exempted Items: FG Dumps CBN’s Forex Policy / Forex Policy: IMF Lauds CBN, Naira Appreciates / CBN Forex Policy Irreversible — Saraki (2) (3) (4)
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Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by ourchoice(m): 2:49pm On Feb 20, 2016 |
Please all Nairalanders MUST READ THIS THREAD, DON'T IGNORE: https://www.nairaland.com/2946071/wickedness-nigerian-youths-stadelk7-sell |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by Nobody: 2:49pm On Feb 20, 2016 |
ShowYourCertificate: all we know is the army has found his certificate. His policies will change Nigeria for good 2 Likes |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by meforyou1(m): 2:51pm On Feb 20, 2016 |
Buhari policy, not CBN 1 Like |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by 989900: 2:53pm On Feb 20, 2016 |
They will just end up roundtripping. It's more profitable. ![]() 1 Like |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by snailspeed: 2:57pm On Feb 20, 2016 |
LRNZH: So if they list it on the pages of a newspaper, you will know what it is or you will source it better than manufacturers? Some of you just take your APC sycophancy way too far but forget you will all be part of the bigger suffering, which you are already suffering and smiling about 7 Likes 1 Share |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by TippyTop(m): 2:57pm On Feb 20, 2016 |
www.nairaland.com/attachments/3421703_wpss201602100030_pngb4383ba5a8080bbb692829f27f31c040 See insult, I laff and laff any time I see this Onatisi post ![]() ![]() ![]() Buhari about to sell us on Jumia, God forbid. 3 Likes |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by snailspeed: 3:00pm On Feb 20, 2016 |
LegatusGlaber: A threat? Are they politicians? Oh I forgot. You are all seeing enemies everywhere now! That's what happens when you support a dullard like Buhari. Smh 4 Likes |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by kgr8mike(m): 3:05pm On Feb 20, 2016 |
The initial objectives which were to make some fundamental changes did not appear on the horizon...IBB 1 Like |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by gurunlocker: 3:05pm On Feb 20, 2016 |
God please give Dr dulla.rpo small brain to rule this country, we know he failed maths and economics, but foe the sake of 170million people, help us. help us before they auction Nigeria on eBay,craigslist and kijiji 2 Likes |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by viktor01(m): 3:07pm On Feb 20, 2016 |
Geez...This shit is real. people keep saying Nigerians should patronize locally made products when the Nigerians in question have no jobs, is it their heads that they will use to buy these locally made products? This government is fuucked. God help us. 4 Likes |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by banmee(m): 3:08pm On Feb 20, 2016 |
ShowYourCertificate: Nigerians complain forgetting that they are their own biggest problem. Tomorrow, when it's time for elections they'll forget the past in exchange for rice and salt. They'll forget to dig deep into the character of the candidates and ask tough questions. They'll forget to look into their history so as not to make future mistakes. Case in point is the clamor for Jonathan, forgetting that he did absolutely nothing during his tenure but to leave a legacy of corruption and a dilapidated infrastructure. Nigerians will never learn. 3 Likes |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by viktor01(m): 3:12pm On Feb 20, 2016 |
Na wa o, other countries are struggling and crawling to move forward and we are going backward with the speed of light. Stone age in view. God help us. 1 Like |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by LordVoldemort(m): 3:17pm On Feb 20, 2016 |
LRNZH: The items include the following: Rice Cement Margarine Palm kernel/Palm oil products/vegetables oils Meat and processed meat products Vegetables and processed vegetable products Poultry chicken, eggs, turkey Private airplanes/jets Indian incense Tinned fish in sauce(Geisha)/sardines Cold rolled steel sheets Galvanized steel sheets Roofing sheets Wheelbarrows Head pans Metal boxes and containers Enamelware Steel drums Steel pipes Wire rods(deformed and not deformed) Iron rods and reinforcing bard Wire mesh Steel nails Security and razor wine Wood particle boards and panels Wood Fibre Boards and Panels Plywood boards and panels Wooden doors Toothpicks Glass and Glassware Kitchen utensils Tableware Tiles-vitrified and ceramic Textiles Woven fabrics Clothes Plastic and rubber products, polypropylene granules , cellophane wrappers Soap and cosmetics Tomatoes/tomato pastes Eurobond/foreign currency bond/ share purchases 1 Like 1 Share |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by Marpol: 3:18pm On Feb 20, 2016 |
The Central Bank of Nigeria (CBN) recently issue a directive stopping some imported goods and services from the list of items valid for forex in the Nigerian Foreign Exchange Markets. This policy implies is that, those who import these items can no longer buy foreign currency from the official window to pay the overseas suppliers. Rather, they will have to source forex from the parallel market or Bureau De Change to pay for their imports. The items include the following: Rice Cement Margarine Palm kernel/Palm oil products/vegetables oils Meat and processed meat products Vegetables and processed vegetable products Poultry chicken, eggs, turkey Private airplanes/jets Indian incense Tinned fish in sauce(Geisha)/sardines Cold rolled steel sheets Galvanized steel sheets Roofing sheets Wheelbarrows Head pans Metal boxes and containers Enamelware Steel drums Steel pipes Wire rods(deformed and not deformed) Iron rods and reinforcing bard Wire mesh Steel nails Security and razor wine Wood particle boards and panels Wood Fibre Boards and Panels Plywood boards and panels Wooden doors Toothpicks Glass and Glassware Kitchen utensils Tableware Tiles-vitrified and ceramic Textiles Woven fabrics Clothes Plastic and rubber products, polypropylene granules , cellophane wrappers Soap and cosmetics Tomatoes/tomato pastes Eurobond/foreign currency bond/ share purchases |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by LRNZH(m): 3:19pm On Feb 20, 2016 |
LordVoldemort: And we cannot source for many of these or alternatives back home in Nigeria? I wonder o. |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by Goke7: 3:19pm On Feb 20, 2016 |
Saifullah01:The same Innoson is from the region that hates the present FG with passion, they will never see the positive side to the present situation we are in. By the time Government bow to the sentimental pressure of flooding the country with FX and all state govt and others go back to start patronising Toyota and co. They will be back here to say that FG is killing local industries. This is the time for Nigerians to look inward and become innovative, how long shall we continue to rely on foreign goods? Why the hypocrisy. The tight FX rules is beginning to favour many local industries, can't we see, don't we want nnewi and aba to become heavyweight industrial hub to even out all round national development. Nigerians think, let's stop blackmailing ourselves. The Western nations and Asia are becoming jittery. Let's not play into their hands. 4 Likes |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by Eluwilussit(m): 3:21pm On Feb 20, 2016 |
talktonase: Those of us who were there in the 80s, knew that Buhari will still go back to his archaic economics. We warned people but all the small small boys on NL were shouting change. Buhari is very tribalistic. He targeted the South by banning those items in the 80s. He is doing it again. Meanwhile, na northerners dey do black market for dollar. So na them dey benefit. Buhari is biased and vindictive. This is the time to pump cash/dollar into our economy. That will stimulate it. It will create activities. ![]() 3 Likes |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by Goke7: 3:25pm On Feb 20, 2016 |
Marpol: There are companies in Nigeria that produce many of these items, truly some fellows do not wish our country well, what a pity 2 Likes |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by grandstar(m): 3:26pm On Feb 20, 2016 |
swtdrms: It is easier said than done. One of the product is pslm oil. The country needs 2m tons but only produces 1m tons. The balsnce is Imported. Do you think Nigeria can make up the shortfall in a month? How long does it take for a palm tree to fruit? 3 Likes |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by dandoki: 3:27pm On Feb 20, 2016 |
AustineE1: My friend if GEJ had come back Nigeria wold have been a failed state by now. 1 Like |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by Goke7: 3:27pm On Feb 20, 2016 |
Eluwilussit: Stop playing the ethnic card here, Innoson is getting more demand for their cars as we speak, shebi their chairman na Hausa man abi? What a shame |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by reyscrub(m): 3:29pm On Feb 20, 2016 |
ShowYourCertificate: It is a pity that you don't even understand what is called a benefit of emergency economic policy to guild a loss formulation. If u have an instinct site, u will see how this country shall be great in due time due to strengthen of locally back policy. Malaysia, New Zealand, Brazil even Ghana during Jerry Raulin took a stern step to withstand a moment pain for lasting pleasure and surplus their have today. I wish GMB rule this country as a military and use veto to flush out the caterpillars and cankerworms in this country. Brother, dollars is not our currency and againg dollar is 197 in forex, it is only rising in black market. 1 Like |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by Nobody: 3:30pm On Feb 20, 2016 |
talktonase:God forbid 2 Likes |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by Goke7: 3:31pm On Feb 20, 2016 |
grandstar: We can make up the short fall if we are serious, laziness is our problem due to our politicians especially state governors who spoil us by throwing money for us on the street. If the south east governors can push a little, our palm oil demand can be met by two or three States from the south east |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by grandstar(m): 3:32pm On Feb 20, 2016 |
Goke7: People who Import these products are not mad. They make massive profits and also create lots of jobs. Also, such restrictions have failed over the years to industrialise the country. It hss instead encouraged smuggling. And when manufactured here, they csn not meet markrt demand snd may have s monopoly. Dangote was fleecing Nigerians for uears. 1 Like |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by dragonking2: 3:35pm On Feb 20, 2016 |
Hihihihi...Don't worry, by the time buhari is done with Nigerians, we shall be living 1975 in 2016. ![]() 1 Like 1 Share |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by grandstar(m): 3:37pm On Feb 20, 2016 |
Goke7: How many years does it take for a palm tree to fruit? Truth be told, if an Indonesian company was offered 100,000 jectares of free land, it only can meet the shortfall. But it does very little for the country. Nigeria's problem is exports and not imports 1 Like |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by donodion(m): 3:38pm On Feb 20, 2016 |
theshadyexpress: If the MAN president cannot make known to Nigerians the list that must be off prohibition list for importation, then he need resign. For Pete effing sake, can't they just put their big heads together and improvise rather than IMPORT? Jesus Kristi!!! |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by Goke7: 3:44pm On Feb 20, 2016 |
grandstar: Your excuse does not hold water cos no country develop that way. If those importers are wise, they would have used the massive profits over the years to develop and invest into building industries for production here in Nigeria. Do you think dangote was stupid in building and investing into refinery? He knew Christmas will not be forever, also another importer of petroleum products are about to start building another refinery in Lagos. Those import palm oil should go and use their profits over time to build industries for palm oil produce in the east. Its a big lie that we cannot meet our local demand in Nigeria by building industries. Its a big fat lie. 1 Like |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by Empredboy(m): 3:46pm On Feb 20, 2016 |
ShowYourCertificate:if you were in his shoe what would you have done better? |
Re: Many Companies Will Start Closing Shop Due To CBN Forex Policy – MAN by godofwar666(m): 3:46pm On Feb 20, 2016 |
Saifullah01:this guy said it all..... |
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