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Nairaland Forum / Nairaland / General / Business / Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay (9663 Views)
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Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by Adesiji77: 8:16am On Jun 09, 2016 |
Nigeria President Muhammadu Buhari has endorsed plans by the Central Bank of Nigeria (CBN) to move to a flexible exchange rate market Businessday can authoritatively report. http://businessdayonline.com/2016/06/buhari-endorses-cbns-flexible-fx-market-bid/ |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by adedayourt(m): 8:19am On Jun 09, 2016 |
Am sure its only a test run policy. . . when the economy begins to suffer the adverse effect they ll revert . features of a clueless govt ![]() 15 Likes |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by gmaribel(m): 8:22am On Jun 09, 2016 |
And I thought the CBN is autonomous. 8 Likes |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by 4Play(m): 8:35am On Jun 09, 2016 |
This is good news. It is a shame we had to endure this stupidity of a fixed exchange regime for a long time before retracing our steps. It is not optimal as I hear they intend to maintain a fixed exchange rate regime for "vital" sectors but it's better than what obtained before. 5 Likes |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by chriskosherbal(m): 8:37am On Jun 09, 2016 |
OK I see |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by 989900: 9:32am On Jun 09, 2016 |
If the same ol' racketeering and profiteering in connivance with the CBN and DMBs is not checked, we will still be dancing around in circles. This basically gave birth to hoarding and part of the reason we are here in the first place. Over 20 billion dollars littered in personal and corporate bank accounts in the country, and we have shortage of dollars. “I have consistently argued in some of my past policy statements, the time has come for Nigeria to impose some form of restrictions on the inflow of foreign ‘investments’ into the country. This should be specifically aimed at discouraging short term portfolio inflows,” Uche Chibuike, a member of the CBN monetary policy committee (MPC) said in communiqué No. 106 of the MPC meeting of Monday and Tuesday, March 21 and 22, 2016. The above is a good and bad thing, but I will support some form of minimum holding period, maybe not as long as what used to obtain in the past, but something to provide some sense of stability or predictability if you will, at the same time checking sharp practices. 4 Likes |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by TippyTop(m): 11:50am On Jun 09, 2016 |
Nigerian stocks which rallied to 6 months highs of 28,902.25 points from 27,231.5 points on the day of the statement by the CBN have since lost all their gains and closed at 27,098.18 points yesterday as investors show displeasure at the lack of clarity from policymakers. [size=15pt]Wake me up when our policy makers wake up.[/size] ![]() 8 Likes |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by duruallwell25(m): 12:02pm On Jun 09, 2016 |
Adesiji77:What about the most talked about currency swap, and China trip brouhaha? 6 Likes |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by GeneralShepherd(m): 12:04pm On Jun 09, 2016 |
Buhari is clueless... 15 Likes 1 Share |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by buJu234: 12:06pm On Jun 09, 2016 |
its clear that the correct economic recession is more due to DELAY in taking & implementing the right strategy. which proofs that APC govt. (esp. Buhari) wasnt prepared at first and that Buhari is not a PROACTIVE person but a REACTIVE person. Assuming they took this decision minimum 6mths ago; this recession would have been avoided. 10 Likes |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by Pennyways: 12:09pm On Jun 09, 2016 |
alright |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by chiedu7: 12:17pm On Jun 09, 2016 |
I trust everybody is enjoying Buharis policies. This govt is full of lies and confusion. Even the talk of him meeting GEJ in London is a lie. 3 Likes |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by ozor1: 12:19pm On Jun 09, 2016 |
Nigeria and Africa at large is the only country where the governments major aim is pay salaries and continue just like they met it, no vision,no zeal to improve 1 Like |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by Nobody: 12:30pm On Jun 09, 2016 |
Na policy inconsistencies go finish this country 1 Like |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by Nobody: 12:32pm On Jun 09, 2016 |
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Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by bejeria101(m): 12:55pm On Jun 09, 2016 |
Airhead of a presidiot! What has dis mumu policy achived? Your kids arent spending dollars? Na cedis dem dey spend,uneducated nama ordering pple about,receive sense biko! |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by repogirl(f): 2:40pm On Jun 09, 2016 |
gmaribel:Autonomous ke? When we have a dictator tyrant on the throne who believes his body odour is enough to work magic? 1 Like 1 Share |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by busyfishing(m): 3:58pm On Jun 09, 2016 |
adedayourt:Not as clueless as your HERO... |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by adedayourt(m): 4:10pm On Jun 09, 2016 |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by aloeman15(m): 4:38pm On Jun 09, 2016 |
When we go begin hear tru word from dis pipul? Recovered- 3t Tsa- 3t Foreign reserve- $27b Eca- $1b China deal We don't need imf I won't devalue ......... Yet you wan borrow, you wan flex, you and your ministers dey travel for treatment wit dollar wey no rish to solve d whole contri mata. Una well so? Ah, I forget say una tru tru sick. Omo... 1 Like |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by Meiji(m): 5:18pm On Jun 09, 2016 |
The independence of a Central Bank is one of the key principles of a functional market economy - every investor worth his salt examines the level of central bank autonomy in building country risk profiles before making investment decisions. We will pay for allowing Buhari erode the independence of the CBN. |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by aloeman15(m): 5:50pm On Jun 09, 2016 |
My guy I just taya o! If only our corporate society had stood up to his meddling, we'd be much better off now. But the ripples of his interference have only just begun to manifest. We're in Really. Deep. Trouble. Meiji: |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by grandstar(m): 8:19pm On Jun 09, 2016 |
gmaribel: Not ever since Buhari came there! 1 Like |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by wellmax(m): 6:31pm On Jun 10, 2016 |
adedayourt:Speak in English please. Yeye pikin |
Re: Buhari Endorses CBN’s Flexible FX Market Bid: BusinessDay by AkProsper(m): 9:30pm On Jun 10, 2016 |
Issokay |
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