atlwireles:
Thousands of Nigerians living outside the country send products to their business partners and family members to sell on their behalf, thereafter return their monies back to them. This policy is going do damaged to these group of people. Many small import businesses have already been excluded from the forex market, even though their products are not prohibited, how will they make payments for products around the world.

emorse:


What then would be the fate of small scale importers who import from aliexpress and their likes?

IsraeliAIRFORCE:


Read the circular again, it says they can withdraw either their dollar or Naira equivalent.

atlwireles:
Thousands of Nigerians living outside the country send products to their business partners and family members to sell on their behalf, thereafter return their monies back to them. This policy is going do damaged to these group of people. Many small import businesses have already been excluded from the forex market, even though their products are not prohibited, how will they make payments for products around the world?

This is another knee jerk reaction from the CBN, which will do the Naira and the economy no good.

IsraeliAIRFORCE:


It's as easy as ABC for Mallams in Northern Nigeria. The boundaries are meant for poor people and certainly not for the rich. Ask Sherrif and other Borno elites their stake in Chad Republic

Even Asari Dokubo is citizen in Benin Republic let alone numerous South East, Southwest and South-South Nigerians resident in those countries.

Read the circular again, it says they can withdraw either their dollar or Naira equivalent.

JAZES:

Abeg help me tell am o...lol

First off, u need to understand that the crashing of d dollars is just for short period,
shorter than u think self cos Naija is an import based country and d dollars will always be in high
demand and according to d simple law of demand and supply... what do u get when demand is higher than
supply?
My 2cents

owobokiri:


NgeneUkwunkita the village economist. What do you want to do with a "strong naira"?? This is not another political kiriji war. It is basic economics. I thought the APC wants to stimulate an export economy. . How can a powerful naira drive export? Lecture, sorry, humour us. .

NellyGhenghen:


We don't need a "strong naira" per say, Nigeria's economy isn't ready for that, we don't need a weak naira either that's bad for import. Let it at least go back to the former exchange rate of NGN150/USD

M16:


I don't think you have done international business before. If you have relatives abroad and the send you dollars or whichever currency, they will receive the naira equivalent here in Nigeria.

When you send money from Nigeria to UK, the person receives the money in pounds, not in naira or dollars. You don't need a domiciliary account account for transfers, you can and will receive in the countries currency. simple. Domiciliary accounts are for receiving and will be converted to receiving countries currency like western union

miqos02:
only people who deposited USD before the circular came into effect will able to withdraw USD

Lancier:
We at InsuranceDirect2U in association with STACO Insurance Plc can process your marine insurance certificates for all your Form M transactions.

We can come directly to you to pick up your Proforma Invoice and compute the premium payable. The marine certificate will only be processed upon payment of full premium.

You could also scan and send your Proforma Invoice to my email: lancier224@yahoo.com to enable me calculate the premium payable. We then deliver the certificate to you and pick up our premium upon delivery of certificate to you.

For further details, contact Lanre on 08033054437, Email: lancier224@yahoo.com bb pin: 2bd85fdb.

InsuranceDirect2U™: Quality Insurance Services Guaranteed!

erico2k2:

Wrong.U can receive dollars in the UK.I recieven miney from China via WE I asked to be paid in Dollars as it was a small amount .When I send money to China it get received as dollars.and all whole sale trade are done in Dollars.

M16:

Wire transfers are recieved in local currencies, same as western union

M16:


I don't think you have done international business before. If you have relatives abroad and the send you dollars or whichever currency, they will receive the naira equivalent here in Nigeria.

When you send money from Nigeria to UK, the person receives the money in pounds, not in naira or dollars. You don't need a domiciliary account account for transfers, you can and will receive in the countries currency. simple. Domiciliary accounts are for receiving and will be converted to receiving countries currency like western union

M16:

Opening an account in a these countries is not easy at all, if you not a resident. Nigerians going to Cotonou for business would have opened accounts long ago

M16:


Wire transfers are recieved in local currencies, same as western union

datigbogirl:


What I want to know is when the bank converts your dollar to naira at the current exchange rate of 199 to a dollar will they reconvert it at this same rate when you wanna buy something overseas with Form A or M?

Boss13:

This is a ridiculous comment from a deranged person

erico2k2:

June 12 question

datigbogirl:


M16 can you please answer the urgent question I asked that this kid is treating with kid's gloves?

erico2k2:

so ur fathers age is now a kid to you. Naira land shaa

datigbogirl:
With this people will simply take their hard currency abroad and do business. Barcanista wetin you think?

Say I converted my naira to 10k$ before the policy, now converting it back at the banks will be at a loss to me cos the bank won't use d standard rate when reconverting back to dollars for me incase I wanna do a foreign transaction. Gtbank I hear currently charge 216 to a dollar.

So d common-man like me will simply carry my 10k$ to cotonou or ghana and do my business except they wan say dollars sef na contraband to travel with-in the end more loss of revenue for the country.

Grow the economy Baba instead of all this crash course and bag of tricks

datigbogirl:
With this people will simply take their hard currency abroad and do business. Barcanista wetin you think?

Say I converted my naira to 10k$ before the policy, now converting it back at the banks will be at a loss to me cos the bank won't use d standard rate when reconverting back to dollars for me incase I wanna do a foreign transaction. Gtbank I hear currently charge 216 to a dollar.

So d common-man like me will simply carry my 10k$ to cotonou or ghana and do my business except they wan say dollars sef na contraband to travel with-in the end more loss of revenue for the country.

Grow the economy Baba instead of all this crash course and bag of tricks

Image123:


Common men don't carry $10,000 up and down. if you have legitimate business, use the available forms. If you only want to profit from a falling economy, the exit door is open.

datigbogirl:


Was I the one who fell the economy? Why shouldn't I mitigate my loses then and be d one to bear the brunt instead?

The available forms will result in a huge loss to me...My business is legit and I'm taking the alternative sensible form and not this prank at stabilizing the economy. That's why his regime didn't last...his overzealous but has little wisdom.

Image123:


The exit door remains open, it is not by force to do business in Nigeria. I'd rather the common man that lives below the poverty level benefit from the country, than people who can carry $10,000 up and down. You have a choice, millions of Nigerians do not. The regimes that lasted like IBB, Abacha, OBJ and GEJ, we did not see their usefulness to the majority of Nigeria. I'd rather have quality over quantity any day.

chimchim1:

Read tru it again. It can be done via Form A. To pay for goods, you can use Form M. Very simple. I paid all my school fees from diamond bank naira account using form A to university of Leeds account. It simple. Bankers in the house can explain better. Thanks.

chimchim1:

Read tru it again. It can be done via Form A. To pay for goods, you can use Form M. Very simple. I paid all my school fees from diamond bank naira account using form A to university of Leeds account. It simple. Bankers in the house can explain better. Thanks.