CBN Sells Dollars To BDCs At N1,101/$1 – Boason Omofaye

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CBN Sells Dollars To BDCs At N1,101/$1 – Boason Omofaye


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11 Comments

  1. There are no corner corner in economics, i am ashamed that we still allow criminals in leadership. When the ordinary Nigerians are poor without cash and high inflation, in real crises how to you turn things gradually around ? Change the bad habits ., First bring leaders in that are psychologically aware .
    Tinubu and his team are in a dream land but they enjoy the scam.

  2. The only thing that can support Cardoso is real earning of the dollar and not trading dollar like ordinary commodity. What happens when the foreign reserve gets exhaust?

  3. To what degree can you prevent speculative activities? Some degree of speculation has existed in every market since the time of the memorial. Emerging markets like ours must reduce the tidal effects of the speculation to the barest minimum.

  4. In my years in the United States, i have never seen a Presenter try to sound like a Nigerian when presenting . This presenter should have some shame, self esteem, be proud of her Nigerian accent and be brave and confident enough to use it. It is so shameful to see the lack of pride in using your natural accent. Please do better

  5. Useless people and irresponsible people of Nigeria
    Dollars used just 3 months to add #1460 from #460

    Yet you has spent 9 months to reduce it just less than #700 and want people to praise you

    Let me educate you about this slow movement, this was how they did it in Ghana

    Till finally they destroyed Ghana currency and Nigeria shouldn't rejoice yet

    Bola tinubu has took his turn on expenses of Nigerians and satisfying his and his wife argue to bears excellency

    And first lady, china will hold the headquarters of world bank soon and world power

    With Russia and Iran In support Nigeria kept be a slave to your UK and USA masters

  6. The Nigerian government needs to define first their economic policy and then define an overall strategy for monetary policy. Without batting an eye lid, the forex policy component of the economic policy should be tailored towards the economy earning USD from export. How does strengthening the Naira contribute to this? Artificially increasing the value of the Naira, is a call for increased demand and conspicuous spending. I can see the CBN selling tranches of $10,000 to the BDCs. I'm tired of explaining Economics over and over again. If we expect demand for USD to increase from increasing the value of the Naira, how on earth do you want to manage increasing demand with fixed supply? Is that not a recipe for scarcity? Is this not a sign that this exchange rate is not sustainable? Anybody that thinks I'm lying mark todays date and watch very soon there will be scarcity of the currency in the market. Just watch.