NewStats: 3,261,768 , 8,175,074 topics. Date: Friday, 30 May 2025 at 01:03 PM 4c39b

CBN's Master Plan is Paying Off

Listen up, fam! If you’ve been tracking the Naira vs. Dollar battle like a Premier League season, then you already know—we’re finally scoring goals!

Biggest plot twist of 2025? The Naira is appreciating like crazy. Just last December, one dollar was a painful ₦1,662, but today? We’re talking ₦1,540 and dropping. That’s a 9% gain in just two months—the best start we’ve had in over a decade!

So, what’s behind this unexpected winning streak? Did Nigeria suddenly find a mountain of oil? Is Wizkid printing money? Nah. The real MVP? The Central Bank of Nigeria (CBN) and its no-nonsense FX reforms. Let’s break it down:


1. CBN Said "No More FX Wahala!"

The CBN under Yemi Cardoso didn’t just talk about fixing the foreign exchange market—it took action. First, they increased transparency in how forex is traded by launching the BMatch system. Now, transactions aren’t shady backdoor deals, but open, fair, and trackable.

Then came the Nigeria Foreign Exchange Code (FX Code) in January 2025. It’s like the FIFA rulebook, but for forex—setting clear guidelines on how banks, investors, and traders handle dollars.

2. Diaspora Dollars? Bring ‘Em In!

You know all those “I Just Got Back” IJGB uncles and aunties? Well, thanks to CBN, their dollars aren’t just for Detty December. New diaspora-focused s (NRNOA & NRNIA) have made sending, saving, and investing foreign currency easier than ever. More remittances = stronger Naira. Oh, and CBN told banks to chill on charging crazy remittance fees, so more people now send money through official channels instead of Oga Kazeem at the bus park.



3. BDCs Got Their Groove Back


CBN brought Bureau De Change (BDC) operators back into the game by allowing them to buy forex directly from banks. This move flooded the market with more dollars, reducing pressure on the black market and stabilizing the rates.

4. No More FX Speculation

Last year, everyone was playing “forex lotto,” hoarding dollars and selling at ridiculous rates. But CBN shut that down by extending its $25,000 weekly forex sales to BDCs till May 2025. Translation? More supply, less panic, and a stronger Naira.


So… Is This The Real Deal?
Look, we’ve been burned before. In March 2024, the Naira also pulled a comeback, but it didn’t last because foreign investors cashed out too fast. This time, CBN is playing the long game by carefully managing dollar inflows.

Foreign investors are watching. If CBN keeps things stable, the money will keep rolling in, and the Naira will stay winning.

What Does This Mean for You?
Import Wahala Might Reduce – If you’ve been side-eyeing ASOS or AliExpress prices, hold on a little longer. Stronger Naira = cheaper imports.

Travel Just Got Less Stressful – Dollar exchange at the airport won’t make you cry anymore.

Businesses Can Breathe – With more forex liquidity, companies that rely on imports (tech, fashion, food) will see costs drop.

For years, we all complained about CBN mismanagement, shady policies, and forex gymnastics. But this new Cardoso team is actually putting in the work—and it’s showing. The Naira still has a long way to go, but one thing is clear: CBN isn’t playing this time. The policies are working, the dollar is sweating, and Nigeria’s economy just might have the comeback arc we’ve been waiting for.
So, to all the doomsday predictors saying “Naira can’t rise,” hope you kept receipts—because this one’s for the history books. 📖🇳🇬
What do you think? Will the Naira keep rising or is this just another fluke? Drop your thoughts below! 👇🏾


FX-REFORMS

FEB 11, 2025

Naira Appreciated by N45 Against The Dollar – What’s Driving the Gain?
Hold up! The naira just made a solid move in the black market, gaining N45 against the dollar from N1,610/$1 to a jaw-dropping N1,565/$1.


FX-REFORMS

DEC 30, 2024

The Economics of Detty December
It is that time of the year again when the big cities of Nigeria come alive with vibes, flashy outfits, and endless events.

https://growingnigeria.com/articles/the-naira-is-cooking-cbn-s-master-plan-is-paying-off

Is it back to N700?

When will the cooking be done?

Nigeria and Nigerians will be alright las las.

dominique:
When will the cooking be done?

soon 🔜

Trust tinubu

All the people on this forum that boasted on their grandmother's grave that Naira will shoot to 2K to 3K have all shut their mouths.

They even told us that na so e dey drop for December, na abroad remittances, hello, this is February

Now the anthem is take it back to where you met it..Una go wait tire!

Except we return subsidy that's when y'all should expect that but like Tinubu told y'all SUBSIDY IS GONE.

Lol price of Rice just increased 😁🤦🏽‍♂️

Just go thank Dangote and his refinery because if it wasn't for them, dollar should have gotten to at least 2500 by now...

Abel7777:


https://growingnigeria.com/articles/the-naira-is-cooking-cbn-s-master-plan-is-paying-off

We have been through this motion many times before.

Common sense and experience tell us that exchange rate is a function of supply and demand. Fact is that CBN doesn't have the FX war chest to subside the dollar for long. And btw, if the real reform was market determined exchange rate, it's contradictory for CBN to continue with dollar subsidy.

Finally, a more reasonable choice is to keep the exchange rate stable rather than forcing it down. It's creates volatility and makes planning difficult.

We have been through this motion before and we know how it ended. All these sponsored, Cardoso-praise singing PR stunts don't count.

Yes their intervention are working on your preek, idioot

ClearFlair:
Is it back to N700?

Abi o.

Let me also ask if it is now at N300/$1 that T-Pain promised to make it in the short term before getting it back to N200/$1 by May 2027

anonimi:
World Bank offers Nigeria forex rate advice, as Tinubu eyes N200/Dollar rate

April 23, 2023

The President-elect said he would work with the Central Bank of Nigeria (CBN) to bring down the exchange rate to N200 in his first term.

“My istration will collaborate with the Central Bank to harmonize the fiscal and monetary policy to achieve immediate stabilization of the value of the naira against the US dollars and other currencies and in the short term, strengthen the naira by boosting the supply of foreign currency and moderating demand.

“The short-term goal is to achieve a naira/dollar rate of 300 naira/US$ and gradually achieve a less than 200 naira rate over the next four years, Tinubu stated.

https://www.ripplesnigeria.com/world-bank-offers-nigeria-forex-rate-advice-as-tinubu-eyes-n200-dollar-rate/?amp

Put it, the best under APC, let them return it to N216. Where are those who said it will be N700 to a dollar.

Make we hear word. Tired of all this nonsense. Naira go rise N50 today we no go hear word for all these paid Tinubu actors hand, and when it falls by N200 the next week we no go hear anything.

The gains are bound to come but the KOKO is how sustainable is the current trend. It is down largely to slack forex pricing, round-tripping, and speculation of yesteryears. Once those effects are properly negated, we will need local production and export to strengthen the Naira further.

Are you trying to make us believe that #1540 to a dollar is a giant stride? How much was dollar to Naira in May 2023?

Ai generated

I’m optimistic about this country getting back on track

In a space of 3 months Naira to a dollar jumped from #700 to #1600 in 2024 as I result of bad policies.

Then in the first quarter of 2025 it now reduces to #1500 / 1$ and you people are actually celebrating and calling it great improvement ?

Are you people Ok in this country ?

Why will any political office holder be serious with their job when they have gangs of ers of APC ing and encouraging every nonsense policies.

ClearFlair:
Is it back to N700?

Bitter-man,you want Foreign Money 💰 ( FOREX) to be exchanged to N700 for a Dollar- then Work hard to earn More On Productivity- Exports of Goods Abroad!
Stop thinking 🤔 virile,as we all needs to play our Part.e.g many of us took political blunder- when Emiefiele was --at CBN - and All the FOREX money gone,
-NTrillions of Expenditures in Ways and Means- Uned For by your Emiefiele.
-NBillions of Anchor Borrowers Farmers Money 🤑,gone,with Emiefiele!
•Did you know that Economic Implications of the Above?- No Food for Nigerians- - as the Farmers Money are not getting to them- because of Compromised and Manipulation Situations,etc, at CBN then - we are now experiencing the Long - Term Effects - On Our Foodstuffs- No Good diet on the Tables of Poor Man.
-Kiss the TRUTH!

iichidodo:
Just go thank Dangote and his refinery because if it wasn't for them, dollar should have gotten to at least 2500 by now...

If if if if if

Make una calm down abeg

Thank God

Pigs and speculators go cry tire

Earthquakes:
Lol price of Rice just increased 😁🤦🏽‍♂️

In what state is that?

Una go just dey close eyes dey lie...It even decreased further

Emotionss:
In a space of 3 months Naira to a dollar jumped from #700 to #1600 in 2024 as I result of bad policies.

Then in the first quarter of 2025 it now reduces to #1500 / 1$ and you people are actually celebrating and calling it great improvement ?

Are you people Ok in this country ?

Why will any political office holder be serious with their job when they have gangs of ers of APC ing and encouraging every nonsense policies.

Don't be a l*natic!

The Naira was devalued. Too much Naira from Emefiele's NGN25trillion ways and means bullllshit caused it.

Tinubu said #300 in the short term and #200 over the next four years. So all these ones na nonsense gymnastics.

Let's see him reach the target he set, if not he remains a failure. Let him also that we're in almost 2 years now, so in wondering the magic he wants to perform.

I'm sure he's sycophants will continue to him though.

Dis slaves always analysing rubbish. When I opened the tread I thought naira to dollar is now 1000. Crazy empty brain slave dat need bullet in dere head to reset dere brain. Celebrating failure

Bluntemperor:


Bitter-man,you want Foreign Money 💰 ( FOREX) to be exchanged to N700 for a Dollar- then Work hard to earn More On Productivity- Exports of Goods Abroad!
Stop thinking 🤔 virile,as we all needs to play our Part.e.g many of us took political blunder- when Emiefiele was --at CBN - and All the FOREX money gone,
-NTrillions of Expenditures in Ways and Means- Uned For by your Emiefiele.
-NBillions of Anchor Borrowers Farmers Money 🤑,gone,with Emiefiele!
•Did you know that Economic Implications of the Above?- No Food for Nigerians- - as the Farmers Money are not getting to them- because of Compromised and Manipulation Situations,etc, at CBN then - we are now experiencing the Long - Term Effects - On Our Foodstuffs- No Good diet on the Tables of Poor Man.
-Kiss the TRUTH!

Slave how much was dollar wen ur master took power if d brainless man can't improve the wellbeing of d masses he shud go home and rest

Bluntemperor:


Bitter-man,you want Foreign Money 💰 ( FOREX) to be exchanged to N700 for a Dollar- then Work hard to earn More On Productivity- Exports of Goods Abroad!
Stop thinking 🤔 virile,as we all needs to play our Part.e.g many of us took political blunder- when Emiefiele was --at CBN - and All the FOREX money gone,
-NTrillions of Expenditures in Ways and Means- Uned For by your Emiefiele.
-NBillions of Anchor Borrowers Farmers Money 🤑,gone,with Emiefiele!
•Did you know that Economic Implications of the Above?- No Food for Nigerians- - as the Farmers Money are not getting to them- because of Compromised and Manipulation Situations,etc, at CBN then - we are now experiencing the Long - Term Effects - On Our Foodstuffs- No Good diet on the Tables of Poor Man.
-Kiss the TRUTH!

Bla bla Bla. Emiefele this, emfefele that. Who was president that appointed Emiefiele. Buhari. Yes the same buhari you ed for 8 years. Borrowers Anchor benefited mostly Northerners. How come? Answer buhari.

Most of the people praising this 419 govt are still living in their parents houses even at a ripe age...how can any sane person who love this country other than his tribe call this an achievement?

Where is ur conscience or humanity?

Nigeria is facing stiflation, High unemployment rate.
High cost of living and regrettably,no economic achievement.

If there is any economic achievement? Why is Customs increasing cost of clearing goods and service at the sea ports?

Why are food prices going down on newspapers and not in reality.

Why is cost of transportation not part of his achievements?

If u go to the market and u are sure u aren't being fed at home,u won't come here to call this an achievement.
Don't forget that APC met the dollar at 210 and why the undue praises?

I must commend their effort.


But I will do a formal praise advert for CBN, Cardoso and Tinubu if Dollar hit 950 naira by June

isn't it too early to speculate or celebrate or best any chest ?

na so difference go be .01 and FG go rush talk say Naira dey appreciate. Abeg make una no stress person jare