Naira crisis: Pursuing Aboki FX, a waste of efforts, Utomi tells CBN - Punch Newspapers
Naira crisis: Pursuing Aboki FX, a waste of efforts, Utomi tells CBN
Also, a professor of Economics at the Olabisi Onabanjo University, Ogun State, Sheriffdeen Tella, said while AbokiFX might be influencing the forex market, depending on the size of the forex transactions it conducts, the operations of the platform was not the major driver of forex scarcity and naira devaluation.
He said these were driven by the failure of the fiscal segment of the economy to complement the efforts of the monetary aspect in the country.Tella stated, “It depends on the volume of transactions that abokiFX is conducting. If it carries out large transactions, it can influence the foreign exchange market. If it is true that he has numerous accounts where he is speculating dollar, then he might be influencing the forex market.
“I know that speculation is one of the factors that is causing a devaluation of the naira against foreign currencies. BDCs speculate to pressurise the CBN to start giving them dollar.“However, I think the problem of forex in Nigeria is not restricted to BDCs or sites like abokiFX, the major problem is that the fiscal part of the economy, the Ministry of Finance and related agencies are not doing what they have to do to support the economy or complement the efforts of the agencies in charge of the monetary aspect of the economy, like the CBN.” headtopics.com
During the briefing after the MPC meeting, the CBN governor, Emefiele, said the apex bank would track and prosecute anyone trying to sabotage the country’s foreign exchange market. Read more: The Punch Newspapers »
How I Suffered After My House Was Demolished In Lagos-78-Year-Old Widow
A 78-year-old widow, Iyabo Adewusi Apena, cries and pleads with the Lagos State Governor, Babajide Sanwo-Olu to pay her compensation. The widow narrated how ...
Meffy seems to think Nigeria exists in a vacuum Incompetency FC on rampage 1) The cenbank Governor is being pushed around. The same people pushing him are behind BDC operators. Some of the BDC operators have been indicated in the financing of Boko Haram and criminals but not much has been done to them but he is busy chasing Aboki FX blaming him.....
2)...for further devaluation of the Naira. As long as Nigeria keep borrowing Naira will keeping depreciating. The Ministry of Finance/ Minister of Finance needs to be changed, she’s not playing the role of formulating policies that can help the CBN/economy. She’s good at burrowing, My views. Shadow Chasing!!! ☹️ 🙄
Emiefele is the most useless person ever to lead cbn as governor, he's from the south that's why the media is beating around the bush and not putting the blame on him. jidealexoni they know that. They just want to deflect their failures. For the CBN governor of a country that exports crude to import petrol to point to Abokifx as the cause of the slide of the Naira is tantamount to spending resources to cure a ringworm infestation while ignoring leprosy
Na AbokiFX dey decide how much them go exchange foreign currency for abi na Una economy nor good? Misplaced priority Plz, can you profer solution, this is getting too much ...abi na to die we dey ni
Aboki FX: How speculators attack, affect naira value —CBN ex-deputy gov MoghaluA former CBN Deputy Governor Kingsley Moghalu, has said that currency speculators attack and affect the value of the naira.
You can pass the IELTS exam in flying colours and get a permanent residency to Canada. DM for details on the high score formula for passing the IELTS exam The CBN just displayed their incompetence on a higher scale. D Africa currencies crisis is way bigger than chasing Aboki forex,we have to understand d global economic monetary politics and how Africa economy dependence on dollars affects our local currencies ,d more d western nation print their currencies ,their inflation is sent 2 Africa
When mediocre and irresponsible leaders fail they look for whom to blame. Hahahahaaaa Never Allow Igbos Rule Again(NAIRA) has collapsed hahahahaaaa As in ehn 🤦🏻♂️ This man close your cavity. Na you put us for this wahala wey we dey. Tell him sir, clueless CBN governor. Even a layman knows that pursuing abokifx won't reduce the demand for FX which the banks cannot meet due to restriction and limits by CBN herself
If he had been given the CBN Governor or Minister of Finance, he will have been attacking even more vigorously..... Politrickians Aka cluelessness
Naira in biggest daily fall in monthsOn Thursday, it opened at N562 per $1 in the morning, rose to N565 at noon, before closing at N570.
CBN, save the Naira nowEDITORIAL: Indeed the CBN on various occasions warned banks’ staff against getting involved in indecent forex transactions, with threats of exposing anyone caught.
Why Naira Crisis Is Likely To Get Worse – MoghaluNigeria’s currency crisis will only get worse if the country fails to diversify but continues to rely on its crude oil driven mono-product economy,
Why Naira crisis is likely to get worse - MoghaluThe former CBN deputy governor says what Nigeria needs to do is to let the Naira find its level in the market. As if we need this kind of useless headline to add more speculation pressure on the Naira. Timing is wrong Nigeria is in such a bad conditn. Pple are suffering. The prices of goods and services are triple. This political dispensat is the worst time of Nigerian political era. Politicians are busy migrating to the same govt. There's a problem. Something is wrong. Nig is a sinked ship. You need an apartment with Lagos We are the right real estate agent to DM Bricks & Beams Real Estate Agency and Consultancy EndSARS BBNaijaSeason6 PrivateProperty BBOTT BBottFinale
Insecurity: 'Local government councils losing millions of Naira in Taraba'Bala,who is also the chairman of Ibbi local government area in the state, said insecurity problem had affected business and farming Activities which is a major Source of local revenue in the state.