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Nairaland Forum / Nairaland / General / Business / CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex (26775 Views)
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CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by nlfpmod: 8:11pm On Feb 09 |
The Central Bank of Nigeria (CBN) has announced significant reforms in the foreign exchange market, signaling a stride towards a market-driven exchange rate mechanism, potentially paving the way for a free float of the Naira. https://nairametrics.com/2024/02/09/cbn-edges-towards-free-float-of-naira-with-discontinuation-of-cap-on-forex-transactions/ 10 Likes 1 Share
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Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by EreluRoz: 8:20pm On Feb 09 |
Modified Who are those that was liking the deleted silly comment. 43 Likes 1 Share |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by Ikaeniyan0: 8:21pm On Feb 09 |
H 1 Like |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by ValarDoharis: 8:21pm On Feb 09 |
Patch patch CBN governor 88 Likes 4 Shares |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by Lovenorth: 8:22pm On Feb 09 |
Nothing new, there will be no significant shift regarding what is currently taking place. Tinubu has no economic value for Nigeria 98 Likes 11 Shares |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by AllahOfBlood: 8:22pm On Feb 09 |
another news as usual yeye people yeye government 54 Likes 6 Shares |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by bassdow: 8:22pm On Feb 09 |
i 1 Like 1 Share |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by stano2(m): 8:22pm On Feb 09 |
Speculations.. Expect naira to gain for some days, then drop again with full force 22 Likes 1 Share |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by bassdow: 8:23pm On Feb 09 |
stano2: |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by bassdow: 8:23pm On Feb 09 |
[quote author=bassdow post=128374604][/quote] |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by Orubebe01: 8:23pm On Feb 09 |
Trial and error system of government I thought they said that tinubu is a master strategist a first class graduate of accounting and that he built Lagos. We are seeing how he built the Lagos. We warned you, but you never listened in the name of let's teach igbos a lesson they won't forget people that voted for him are being thought lesson that they will never forget, karma na your mate? 117 Likes 15 Shares |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by erniok(m): 8:24pm On Feb 09 |
Let the CBN governor know that the rate is getting to 2k/$ without the free floating of the naira. Let us not experience a runaway inflation. 15 Likes 1 Share |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by Sirseedorf(m): 8:24pm On Feb 09 |
Anyhow una do am abeg, e no concern me, my own na make things better for everybody for Nigeria, float or drown, make everything just stabilize 19 Likes 2 Shares |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by nnachukz(m): 8:24pm On Feb 09 |
Dollar will surely hit N3000 within this year. 23 Likes 1 Share |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by TheKing4040(m): 8:24pm On Feb 09 |
Trial and error will finish this government and it's hopeless supporters .. 30 Likes 6 Shares |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by Brendaniel: 8:24pm On Feb 09 |
This was my comment last year about this man but some Tinubu supporters were mentioning me and arguing..... 18 Likes 4 Shares
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Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by Salowise: 8:24pm On Feb 09 |
EreluRoz:What if i quote you? 2 Likes |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by skj1377(m): 8:25pm On Feb 09 |
Disjointed theory. You and your boss will soon be out of a job. Keep on with your senseless policies inducing poverty. 14 Likes |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by Kingrshd3: 8:25pm On Feb 09 |
Dollar will still keep skyrocketing oga 5 Likes 1 Share |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by Chibzynj: 8:26pm On Feb 09 |
We re tired of these long grammars and propaganda. We want results pls. 21 Likes 2 Shares |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by bnanny: 8:26pm On Feb 09 |
Tinubu regime aka try and error government. You guys better start thinking how to resign, stop doing like the masses are cows we are humans like you. You guys only have money but no brain 11 Likes 3 Shares |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by JoeyNaza: 8:26pm On Feb 09 |
Brace yourselves for 2000 Naira to a Dollar 9 Likes 1 Share |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by EreluRoz: 8:26pm On Feb 09 |
Salowise:Well, if the quote is not toxic it's fine |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by erniok(m): 8:27pm On Feb 09 |
EreluRoz:Prank right? |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by Anguldi(m): 8:27pm On Feb 09 |
Height of gazelle gragra 6 Likes 1 Share |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by adonainana: 8:27pm On Feb 09 |
NIGERIA PLEASE LEARN AND STOP TRIAL AND ERROR YOU WANT MORE DOLLARS VIA EXPORTS THEN PLS AS I HAVE WRITTEN DOWN HERE BEFORE NIGERIA PLS GROW YOURSELF OUT OF POVERTY AND THIS DOLLAR ISSUES DIVERSIFY THE ECONOMY WE BEG THEE Nigeria must grow itself out of the problems it currently finds itself. Banning 43 items won’t help, mopping up extra dollars in the banks won’t help, even Dangote refinery won’t help. Removing cap on international transfers won’t help Floating the naira won’t help Only growing what is free and what we used to do before we discovered oil and got cursed in its problem can save us Agriculture WE MUST DIVERSIFY THE ECONOMY. The maths and economics behind this is simple. You import so much and you export just oil thus leaving you with a balance of trade deficit. Even the oil you claim you export , you cannot refine it properly hence you have to sell the crude oil to countries that can refine it and you buy (IMPORT) it back. What a waste. WHY NOT DIVERSIFY THIS ECONOMY FOR CRYING OUT LOUD INSTEAD of corpers shouting corper wee wee at camps from morning to night . CONVERT ALL NYSC camps to COCOA processing and packaging centres . Incentivise corpers who are willing to go extra mile and become Agro prenurs by tripling their monthly allowance . Leave the corpers who are looking for white collar job after service alone Grow cucumbers, lettuce, oranges, pineapples, ONCE EVERY NYSC camp has been converted to a farming centre send entourages to Europe to look for buyers Yes NIGERIAN CUCUMBERS, NIGERIAN COCOA, NIGERIAN ORANGES , in tons in their millions See how much rain falls in this blessed land. Almost every single crop can grow here Uk imports bananas all the way from South Africa and panama . PLEASE PEOPLE OF GOD. Which country is closer to the UK by sea. Panama or South Africa If European countries are NOT COOPERATING and done want imported NIGERIAN COCOA , NIGERIAN BANANAS CLOSE DOWN THIER EMBASSIES or better still sell part of NNPC to them and in return they must buy Nigerian cocoa . Do you know how many coffee making companies in Europe need cocoa to make coffee and chocolate AGRICULTURE IS FREE. Build more NYSC camps and simply extend the scheme to poly graduates and do the same offer them big money to make them and work for the Cocoa farms and the banana Plantations. The NYSC camps in the south can manufacture tons of food for export The NYSC camps in the north can manufacture similar food groundnut, wheat etc for export The Nigerian government in Abuja ensures this products are exported with speeed What’s wrong with THE UK ONLY IMPORTING BANANAS from Nigeria What’s wrong with going to France and seeing only imported Nigerian carrots WHY OIL FOR GODS SAKE Agriculture is free , Sunshine is free Rain is free Oil you need to go and first find it , extract the crude oil , find a way to go and refine it , THEN YOU CAN ONLY SELL THE refined oil the price OPEC is selling a barrel at the time of the date. The price of oil is pegged at the international market . NIGERIA NIGERIA PLEASE WHY GO THROUGH THIS STRESS PLEASE PLEASE DIVERSIFY THIS ECONOMY. Go back to what you did before you discovered oil and the oil cursed you , and 50 years on the curse is visible . Human beings eat and most human beings eat food that are grown inside the ground No matter how rich a country is in oil , it most import it’s good from somewhere Do you know how much arable land Nigeria alone has in the south . Why are we wasting our time with this oil nonsense Even if it’s bananas Even if it’s mangoes At least we know we officially supply another country mangoes and bananas full stop Converting NYSC camps into mega farms and processing centres where rural farmers can sell their produce and from there the National government can use its power to get it out of the country to sell . IF ELECTION MATERIALS can get anywhere surely rural farmers can get their produce to the nearest NYSC CAMP that would now serve as mega centres Even local airports in Nigeria part of it can be conveyed to mega processing farms so some produce can easily be flown to Lagos ports Please if any one with links to the FG in Abuja can see this . This is not just a passionate plea or advice. THIS IS WHAT WOULD SOLVE NIGERIA PROBLEM ONCE AND FOR ALL Please we must grow our exports . Agriculture is the only area of Life where you grow money in the soil. There is a saying that a farmer can never be poor now imagine a country that exports food to feed the other countries Please leave Dangote to be selling his own jeje and diversify the economy Please I am pleading Regards Barrister Akinola Samuel Eluyefa +447591683924 40 Likes 10 Shares |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by papyjaypaul: 8:27pm On Feb 09 |
Can we just use naira in Nigeria? Unfortunately, this government of Mr Bola Ahmed Tinubu has no moral right to stop the dollarization of the economy going by what went on in APC primary. If anything must change, it must start at the top, even if he is pretending. Stop travelling abroad for private visits. Put a policy like OBJ where you use Nigerian product and watch how the naira will come back to glory. But there's nothing APC does that shocks me. Our last President and VP both peppered us with pictures of their kids graduating in UK. These politicians don't think about the impact of their actions on the people. Everything no be policy, just show good example and the sheep will follow. If I had my way I will ban the discussion of dollar on the streets. But what am I saying sef? I have not provided electricity for my people, I do not have watertight immigration, I have not talked to myself and fellow politicians to stop using dollars, I have not done my own part. The CBN does not have control over the USD, it only has control over Naira. Once we get this logic, we will have sense in pledging to Nigeria. To be faithful loyal and honest 11 Likes 1 Share |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by EreluRoz: 8:28pm On Feb 09 |
erniok:I'm serious, no jokes. |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by Adakintroy: 8:29pm On Feb 09 |
Too much sin in the land. Ritghouseness exalt'. Sin is a reproach. . Too much ignorant intellectuals..combat wrongs and immorality the naira will grow..naira is a proper reflection of our state |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by RepoMan007: 8:29pm On Feb 09 |
They were playing before now. |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by JuanDeDios: 8:29pm On Feb 09 |
nlfpmod:Good to see they're serious about this floating matter. It'll also render the new issue of paying out in dollar or naira moot. 1 Like |
Re: CBN Edges Towards Free Float Of Naira With Discontinuation Of Cap On Forex by khattab02: 8:29pm On Feb 09 |
Trial and errors. Na same thing again. All these market forces and demand and supply will determine bla bla.... Na Kpalasa |
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