Islie:

The government should live up to his promises to the Niger delta people to avoid youth and militants restiveness. That will erode all the gains made so far in resuscitating our ailing currency.









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

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..

nextprince:


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

bigtt76:
Useless banks ....they know how to offload the forex forget their yarns. Let them increase the Master Card Naira limit and lets see if they would have any excess left #eDiots

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.

Sunnynwa:


Make policies that will attract inflow of forex through FPIs

martineverest:
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

nextprince:


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?

NaijaEfcc:
Oga this is a very bad way of investing!!! It's your type that will milk the country dry if given the opportunity!!! To you everything is all about buhari abi? Be guided my friend!!! you have to understand that this government move is not the solution rather it's a temporal one which is doing more harm than good !! Quote me anywhere Dollar will still rise!!!

nextprince:


I say immediate solution. Will policies bring down the forex within one month.

Besides, you think with low Foreign Reserve, investors will start bringing in their dollars even with the best policies?

Also, which of the Fed Govt policies chased away investors?

Bro, the bulk of the problems lies in exportable commodities and for now, crude oil is what the nation practically depends on for her forex.

bettercreature:
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

EgunMogaji:


I don't know how it works but can you go to another bank?

Sunnynwa:

And you think the best thing to do is to deplete the already low Foreign reserves?

nextprince:


Foreign Reserve is not being depleted, increased price of oil and improved output is being used to shore up the the Naira.
At the moment, the Foreign Reserve is around $30b and it has been so for the past one month.

Now, lets assume the Foreign Reserve is being depleted (which is not even the case) which alternative do you have to address the free fall of the Naira? Or you want it to get to N1k/$ to have more reasons to complain.

What I know is that the present measure is the only means of addressing the issue for the time being but if u have any other means, it will make a lot of sense if you post it here cos some policy makers get opinions of the public and nl is a public forum.