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Nairaland Forum / Nairaland / General / Business / Naira Drops, As BVN Paralyses Forex Market (24505 Views)
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Re: Naira Drops, As BVN Paralyses Forex Market by Dabigbroda(m): 12:45pm On Nov 05, 2015 |
Re: Naira Drops, As BVN Paralyses Forex Market by CSOOnyeka: 12:45pm On Nov 05, 2015 |
interesting |
Re: Naira Drops, As BVN Paralyses Forex Market by RexTramadol1: 12:46pm On Nov 05, 2015 |
BVN see weytin u dey cause Even oga presido never do bvn |
Re: Naira Drops, As BVN Paralyses Forex Market by ibkgab001: 12:47pm On Nov 05, 2015 |
BVN = NBV Bank verification number bank version version |
Re: Naira Drops, As BVN Paralyses Forex Market by seedsower(m): 12:48pm On Nov 05, 2015 |
Keneking: Trash No wonder your baba promised $1=NGN1 now i know how he plans to achieve that. Instead of working hard like the previous administration did, he want to follow shortcuts. What again did Prof. Chukwuma Soludo suggested one time? The new gov't re trying all that the previous gov't tried. That is what happens when an intending aspirant did not care to know how things actually works but is only interested to take over power. 1 Like |
Re: Naira Drops, As BVN Paralyses Forex Market by Truth234(m): 12:52pm On Nov 05, 2015 |
Kx: Even BDC operators can use your BVN to register transaction for dubious politicians and that does not exclude banks |
Re: Naira Drops, As BVN Paralyses Forex Market by menxer: 12:58pm On Nov 05, 2015 |
Vig86: It beats my imagination that instead of dialing *565*0# and get on with the transaction some people prefer going to the black market, I guess their minds and intentions are black. |
Re: Naira Drops, As BVN Paralyses Forex Market by bigass123(m): 1:06pm On Nov 05, 2015 |
Every good policy must have temporary pains that will later bring a lot of gain. Nigerians love gains but hate pains, you have to bear some form of hardship before you enjoy success. 1 Like |
Re: Naira Drops, As BVN Paralyses Forex Market by bardintentionz: 1:17pm On Nov 05, 2015 |
Wailers will say Buhari introduced BVN |
Re: Naira Drops, As BVN Paralyses Forex Market by bardintentionz: 1:17pm On Nov 05, 2015 |
Waile.rs will say Buhari introduced B V N |
Re: Naira Drops, As BVN Paralyses Forex Market by Nobody: 1:19pm On Nov 05, 2015 |
Dullard has come to destroy the nation further! 1 Like |
Re: Naira Drops, As BVN Paralyses Forex Market by Keegan: 1:21pm On Nov 05, 2015 |
Nigerians and double standard sha. Say positive thing about the BVN and all praises will go to GEJ and his team of failure but any negative issue on the same BVN will be blamed on PMB and the APC. 1 Like |
Re: Naira Drops, As BVN Paralyses Forex Market by miqos02(m): 1:25pm On Nov 05, 2015 |
SmartProf: |
Re: Naira Drops, As BVN Paralyses Forex Market by GeneralShepherd(m): 1:26pm On Nov 05, 2015 |
Why not clamp down on illegal foreign exchange dealers? 1 Like |
Re: Naira Drops, As BVN Paralyses Forex Market by musicwriter(m): 1:28pm On Nov 05, 2015 |
kelvine: When we talk about fighting corruption, it's sad some Nigerians don't just know exactly what fighting corruption means. The BVN is to help record all your financial transactions (money you send and money you receive), so only people with skeleton in their cupboards will avoid giving out their BVNs to purchase dollar. Only crinimals or people who have criminal intent will have issues with the BVN. After the arrival of GSM phone, the BVN is the best thing to happen to Nigeria for the past 15 years!. 2 Likes |
Re: Naira Drops, As BVN Paralyses Forex Market by wiseoneking: 1:37pm On Nov 05, 2015 |
Keneking:continue to blame Gej till you pass away, buhari your god and saviour has spent more than 12% of his mandate in chasing the wind and you are already suffering you wind of Shameful Change. Until you and your baba goslow let go gej, you will be wailing like the WAILERS. Your sai Buhari is just very confused. He has made the economy worst than that of congosomali. Let him removed pride and beg NOI for economic adviser. Her worst management of Naija economy is the best for now. |
Re: Naira Drops, As BVN Paralyses Forex Market by aloeman15(m): 1:43pm On Nov 05, 2015 |
Is this what obtains abroad? If you travel to a western nation will you need a bvn to exchange your naira for local currency? Do foreigners get a bvn when they arrive at our air or sea ports? Do our african neighbours get a bvn at our border crossings or do they wait until they open a bank account before changing their monies? Do bdcs now issue bvn to these and other customers without a bank account? Just a few questions that might need clarification on. 1 Like |
Re: Naira Drops, As BVN Paralyses Forex Market by 2muchopoTBdope(m): 1:46pm On Nov 05, 2015 |
Icecomrade: God Forbid!!! 1 Like |
Re: Naira Drops, As BVN Paralyses Forex Market by ohenhen1: 1:54pm On Nov 05, 2015 |
ikenigel: Speculators trying to make money by deceiving the public. How can BVN affect the value of the Naira? That is just ridiculous and down right crazy. If you don't have a BVN you can still walk into a bank and get one. If they like make them sell the Naira at 500N to a $1 at the black market. The CBN governor should not devalue the Naira. |
Re: Naira Drops, As BVN Paralyses Forex Market by ohenhen1: 1:58pm On Nov 05, 2015 |
Criminals or fraudsters trying to make a profit by deceiving the public. |
Re: Naira Drops, As BVN Paralyses Forex Market by Icecomrade: 2:06pm On Nov 05, 2015 |
2muchopoTBdope: What does. God forbid |
Re: Naira Drops, As BVN Paralyses Forex Market by Orikinla(m): 2:41pm On Nov 05, 2015 |
GTBank Says How Customers Can Solve BVN Challenges The management of Guaranty Trust Bank (GTB) has reacted to the current situation of anxious customers affected by the Bank Verification Number (BVN) deadline account lock-down. Many bank customers have been affected by the Central Bank of Nigeria’s (CBN) directive that all unregistered accounts within Nigeria be resticted from debit transactions, The Herald reports. The bank responded by providing tips to help combat the difficulties associated with the situation.
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Re: Naira Drops, As BVN Paralyses Forex Market by Nobody: 2:48pm On Nov 05, 2015 |
good. |
Re: Naira Drops, As BVN Paralyses Forex Market by Exqwizit(m): 2:57pm On Nov 05, 2015 |
Is the dollar cheaper at the BBC than the black market? If yes is the answer what is the rate of exchange to the naira when buying dollars? |
Re: Naira Drops, As BVN Paralyses Forex Market by Kennydoc(m): 2:59pm On Nov 05, 2015 |
Icecomrade: Guy this is not about SLS, cos he too would have been helpless with the situation of things. Our naira is depreciating, and our economy is falling because of the drop in crude price. The stringent CBN policies, though affecting businesses adversely are simply meant to prevent naira from plunging further, otherwise we would have been exchanging $1 for about #300 - 350 by now. All oil-dependent economies are facing hard times now. It's not just about Nigeria. 1 Like |
Re: Naira Drops, As BVN Paralyses Forex Market by piagetskinner(m): 3:07pm On Nov 05, 2015 |
I blame Cbn for the confusion theve caused... The masses were not adequately informed about the benefit of bvn # and if one doesn't do it ones account becomes redundant # That was how they blocked naira accounts for those outside nigeria... And these Nigerians, especially students became helpless because they couldn't withdraw their monies all due to the lack of insensitivity to the plight of Nigerians 1 Like |
Re: Naira Drops, As BVN Paralyses Forex Market by Dee60: 3:12pm On Nov 05, 2015 |
They should tighten the checks at the airports now....Why buy USD when you dont want BVN? It means that a lot of shady things have been going on. |
Re: Naira Drops, As BVN Paralyses Forex Market by cee001(m): 3:23pm On Nov 05, 2015 |
Keneking:Please,where do the black marketers(parallel market) get their dollars from? |
Re: Naira Drops, As BVN Paralyses Forex Market by olutunde12(m): 3:49pm On Nov 05, 2015 |
. |
Re: Naira Drops, As BVN Paralyses Forex Market by olutunde12(m): 3:56pm On Nov 05, 2015 |
[quote author=Keneking post=39705546]great "...most of them moved to the black market for their foreign exchange needs." So many illegal businesses in Nigeria 1. The next thing is to remove double zeros in Naira, so that N1 equals $1 2. This approach is better than the previous government's led by Jonathan Goodluck, PhD. 3. In the past CBN was interested in injecting cash into circulation...new naira notes i.e N1,000, N500 and N100. The true picture of the economy was relatively unknown. Every one is now a professional even those who know nothing about the issue. Redecimalization does not make a currency equal the other just like that. It has worst consequencies outside a nation that can worsen the situation. |
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