CBN Issues Guidelines To Banks To Stem Naira Slide
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- Опубликовано: 29 сен 2024
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The only solution to the devaluation is Nigerians getting involved in business that could export and get in dollars into the country to buffer the demand. Nigerian companies are only looking for things to import without considering the effect on the naira value. Our government is not even helping , if they had purchased all the new government cars from Innoson, naira price would have been far better but when a large chunk of fund goes into purchasing dollar why won't naira decline? Both Government and private has a significant role to play here
This girl is a real Olodo. She’s spewing theory like economics is the problem. She didn’t even mention speculators role in this debacle yet she wants interest rates increased. Abeg go siddon joor.
The moment she said banks are not speculators I got tired of the program... somebody should pls remind her what bank's did during the naira redesign
Yuor naira is gone and gone forever because evil leaders are enjoying it, let stop deceiving ourselves
Dollar is the world reserve currency and every trade between countries are done in dollars. That is the more reason why every country around the world tries to generate as much dollar in their foreign reserve as they can. Only countries that have alternatives are those in the BRICS. Nigetia economy is import based which means there has to be enough foriegn reserve to make availabe enough fx for importations. Countries generate forex by means of production and export. In the case of Nigeria it is solely petroleum crude oil. As we speak I guess our foreign reserve has been reduced to the bearest minimum, if only there is still any. No country in the world rely on remittance from their citizens working in other nations. Remittance from Nigerians abroad is surpose to be supplimentary to revenues from the oil. With Tarrif now raised to equivalent value of dollar which is 1400, together with the new policy, will limit the rate of importation and create scarcity which will eventually blow up the prices of goods and commodities in the market.
Point of correction, there is not pressure on Naira rather dollar. Government need to stop selling crude oil in dollar because it weaking the Naira. We are dollarising Nigeria economy
We are cruising at steady speeds on the Zimbabwe highway; hyperinflation, ultimately leading to the abandonment of the Naira in exchange of Pounds Sterling, Euros, Dollars and Yuan. I knew we would eventually reach that destination , being that we are a Kakistocracy. I just didn't think it would be this fast. Oh well Naija na cruise...
No matter the guidelines if there is no monitoring on ground.we are living in self delusions.thats why i ssupport moving some departments of the cbn to lagos .over 99 percent of the banks have tjeir headquarters in lagos.
Clueless government
This hot babe should go work for CBN 😂😂😂😂
The economic genius is chilling in the Paris lights