Hoarders will not like this news

Now I believe this country is been run by a cabal, this is the beginning of dollar cycle! Their boys in government will bring down the price, they will buy cheap and stockpile, wait for their boys in government to stop funding and make unreasonable policy, then the price will go up, they sell! Simple easy money!! Ever wonder why the major players in this business is from a certain part of the country??

Don't forget that we generate more foreign exchange from oil export on daily basis beyond what government is pumping into the system. This will sustain the system for a very long time till when we go into manufacturing big time.

eezeribe:
Artificial solution to a perennial problem.
We still have far more imports than exports.
how else do we get this dollars if not by export.
If the amount of dollars pumped into the parallel market is not counterbalanced by an equivalent or more amount of dollars received via importation...
I am afraid,this method will soon hit the rocks like the Naira swap deal.

eezeribe:
Artificial solution to a perennial problem.
We still have far more imports than exports.
how else do we get this dollars if not by export.
If the amount of dollars pumped into the parallel market is not counterbalanced by an equivalent or more amount of dollars received via importation...
I am afraid,this method will soon hit the rocks like the Naira swap deal.

Tell me about pessimism.

Nigeria has practically depended on crude exportation for her forex for a long time and that is what informed the present campaign for diversification.

But for the time being, what Nigerians want is the closing of gap between the official and the parallel market rate and the only way out is what the CBN has embarked on especially in the wake of improved price of crude oil alongside the improvement in the quantity being exported.

What is your immediate solution other than what the apex bank is doing now?

Long term solutions are being pursued and that is one of the several failures of successive past administrations.

Stop all these beer parlour analyses.

how many days for Form A transaction for tuition now?

Clone2020:
If you are in the US or have relatives in the US trying to send money to naija, I will exchange the funds at 400/$, simply deposit into my US bank account and receive instant funding into your Nigerian account. Don't bother with western Union and co, they exchange at 375/$ with fees and the exchange rate drops to around 345/$.

Contact in signature..

Why would someone send dollars at N400 when they can get 440?

nextprince:


Tell me about pessimism.

Nigeria has practically depended on crude exportation for her forex for a long time and that is what informed the present campaign for diversification.

But for the time being, what Nigerians want is the closing of gap between the official and the parallel market rate and the only way out is what the CBN has embarked on especially in the wake of improved price of crude oil alongside the improvement in the quantity being exported.

What is your immediate solution other than what the apex bank is doing now?

Long term solutions are being pursued and that is one of the several failures of successive past administrations.

Stop all these beer parlour analyses.

And you think Travel allowances, medicals and school fees are the majors up takers of forex in Nigeria?

Wait till Alaba boys start going to China again.

Sunnynwa:


And you think Travel allowances, medicals and school fees are the majors up takers of forex in Nigeria?

Wait till Alaba boys start going to China again.

What is the immediate solution other than what is being done?

Clone2020:
If you are in the US or have relatives in the US trying to send money to naija, I will exchange the funds at 400/$, simply deposit into my US bank account and receive instant funding into your Nigerian account. Don't bother with western Union and co, they exchange at 375/$ with fees and the exchange rate drops to around 345/$.

Contact in signature..

..... Hnmm ! MMM Forex Transfer ni !

This is blatant lie!!, CBN has not cleared all the backlogs, they keep giving the public this kind of wrong information

eezeribe:
Artificial solution to a perennial problem.
We still have far more imports than exports.
how else do we get this dollars if not by export.
If the amount of dollars pumped into the parallel market is not counterbalanced by an equivalent or more amount of dollars received via importation...
I am afraid,this method will soon hit the rocks like the Naira swap deal.

Not sure you read the write up at all but commenting hahah wailing wailer..


Maybe thst should have your surplus for you to understand what the banks are talking about..

At wat rate do day giv d dollar in the bank

BANKS, THANK YOU.

BUT WE DONT WANT.

WE ARE NOT DOING AGAIN.

PLEASE KEEP YOUR DOLLARS.

AND I PRAY THE TIME VALUE OF MONEY DEPRECIATES IT.

What is required is for the blackmarket rate to be at par or lower than the official rate.. Over to CBN.

Aburi001:
Let's see how long this lasts....

I trust our politicians, they will soon hijack the Bank Managers

With the new CBN policy no politician will want to hoard dollars anymore cos it will be a big loss to them.

If they buy the dollars to hoard from banks at the rate of 305/$ and CBN release another dollars and sell below 300 will will run at loss?

nextprince:
Then increase the limit of withdrawal from Naira denominated account abroad, otherwise

So that your paymasters can start withdrawing their loots comfortable abroad? hahaha kole werk..


I STAND WITH CBN $100 A MONTH POLICY..

NaijaEfcc:
Now I believe this country is been run by a cabal, this is the beginning of dollar cycle! Their boys in government will bring down the price, they will buy cheap and stockpile, wait for their boys in government to stop funding and make unreasonable policy, then the price will go up, they sell! Simple easy money!! Ever wonder why the major players in this business is from a certain part of the country??

u have a point.

EgunMogaji:
Good move so far. Let's see if it sticks.

Stewpid lies,my form M is still there since october,even though they asked me to fund my account last week
Till now they dont have dollar

ISTANDWITHBUHAR:


So that your paymasters can start withdrawing their loots comfortable abroad? hahaha kole werk..


I STAND WITH CBN $100 A MONTH POLICY..

Nay bro! I'm a buharist to the core, check my posts.

What I'm saying, since the banks have excess of the hard currency, why not increase the withdrawal limit from $100 to at least $1k? This will ease a lot of things for the average Nigerians abroad, especially students or what do you think?

NaijaEfcc:
Now I believe this country is been run by a cabal, this is the beginning of dollar cycle! Their boys in government will bring down the price, they will buy cheap and stockpile, wait for their boys in government to stop funding and make unreasonable policy, then the price will go up, they sell! Simple easy money!! Ever wonder why the major players in this business is from a certain part of the country??

Major players are from certain parts of the country? Hmm. They started just when Bubu took over, I guess.

Anyway, since you have got the trick, why not invest accordingly? After all, information is a key to success in business and you have it, so what are you waiting for?

Aburi001:
Let's see how long this lasts....

I trust our politicians, they will soon hijack the Bank Managers

dont forget,free monies doesnt flow anyhow anymore......Oil price and market are booming......it will be substainable if oil market keeps growing

nextprince:


Nay bro! I'm a buharist to the core, check my posts.

What I'm saying, since the banks have excess of the hard currency, why not increase the withdrawal limit from $100 to at least $1k? This will ease a lot of things for the average Nigerians abroad, especially students or what do you think?

I think it makes sense how about people that will take advantage of the opportunity? I based in Cotonou and know so many exchangers that have taken advantage of CBN to enriched themselves back then.. SO many of them have more than 20 cards each..

NaijaEfcc:
Now I believe this country is been run by a cabal, this is the beginning of dollar cycle! Their boys in government will bring down the price, they will buy cheap and stockpile, wait for their boys in government to stop funding and make unreasonable policy, then the price will go up, they sell! Simple easy money!! Ever wonder why the major players in this business is from a certain part of the country??

if u have 5 billion in ur account and u keep buying dollars more than u increase the value of ur account in naira,dont u think it will get to a time when u dont have enoff naira to buy dollar? And also u are at risk of losing money especially when the dollar is depreciating against naira

Where is diamond bank i have my request pending from january 2015

ISTANDWITHBUHAR:


I think it makes sense how about people that will take advantage of the opportunity? I based in Cotonou and know so many exchangers that have taken advantage of CBN to enriched themselves back then.. SO many of them have more than 20 cards each..

The BVN Interlinks all your accounts and that brand of smartness can be properly taken care of. It is achievable.

Lol. This is propaganda na. Go into a bank branch and request for dollars and watch them refer you to an aboki dealer. The dollars are taken up the minute it's released to the banks. This news is fake news designed to send speculators into panic.

Still won't believe this. Because from the abokifx.com the dollar keep his strength.

bessmanie:
This is blatant lie!!, CBN has not cleared all the backlogs, they keep giving the public this kind of wrong information

They want to use information to manage the rate. Did CBN release dollars last week? They should stop the lies

Islie:


Banks are awash with dollars, as the Central Bank of Nigeria (CBN) continues to support the naira.

The banks have cleared the backlog of requests for foreign currencies for basic travel allowance, school fees and medicals.


Mr Ayo Teriba, Chief Executive Officer, Economic Associates, is optimistic that the CBN would be able to sustain its intervention on the forex market.

Teriba told the NAN that increase in oil production and high oil prices had increased the foreign reserve base of the country.

“We are back to a situation where the forex at the disposal of the CBN is likely to go up.

“The CBN could not intervene in the forex market in 2016 because of low oil production, prices and because foreign reserves were also low.

“Today, oil price is up, reserves have also gone up, the outlook of the oil prices is stable and production in Nigeria is going back to capacity; so it has the capacity to intervene.

“In a couple of months, the apex bank should be able to meet all of the demands and all the multiple exchange rates will converge.”

http://thenationonlineng.net/banks-seek-buyers-cbn-floods-market-forex/

Baba ... Oyoyo
Buhari ... Oyoyo
Osinbajo ......Oyoyo
Niger Delta militants..... Oyoyo
Niger Delta militants please forgive Buhari, he does not understand that criminals, sorry I mean good boys like you need to be pacified, pampered and spoilt

Leopantro:
did you notice that no exchange rate was mentioned?

thank you, i wish to state that Access bank sold Canadian dollar to me at N289 last week while the cost of same currency is N250 in the black market.

i want to buy more but i think i am going with the black market this time.

this is too bad, we are being ripped off by those who are supposed to care for us.
collaboration of scam

nextprince:


The BVN Interlinks all your accounts and that brand of smartness can be properly taken care of. It is achievable.

Yes think with the full implementation of the BVN we can work that out..

Boss13:


They want to use information to manage the rate. Did CBN release dollars last week? They should stop the lies

With statements like the emboldened, do we need experts' opinion on how the present generation is a waste?