southpole:


check how many people responded to your post and the content of their replies will give you a pointer

SamMilla1:
It's back to 340 this evening; Call your Mallam.
The Kangaroo hide and seek policy will be running in circles.
There is no foundation and structure to sustain floating forex policy except CBN knows how much dollar people need in a day, which is impossible.

This is Nigeria, so it's either you devalue and stablize or you stick to your hard-line and criminal disbursement of our dollars to your friends and relatives.
There is too much corruption in the system and it will take years to clear.
Some people will have to be jailed forever before we can achieve that, That's what the Chinese did and maintained.
The problem is that some animals already believe that it's a way of life to cheat the system.
When you appoint your friends and family to CBN or any agency ahead of more qualified people, That's massive corruption. You may think you are doing them a favour but the truth is that you are setting the country back.

Either way, we can only suffer it for a few more years before you either finish your tenure or die. Time takes care of everything.
I am not wishing you death, it's a natural occurrence that seems to target old people more than the young ones.
Just that we fail to acknowledge that.

And before the trigger happy banner pull his trigger, understand that i am just saying the truth and that i don't care.

SamMilla1:
It's back to 340 this evening; Call your Mallam.
The Kangaroo hide and seek policy will be running in circles.
There is no foundation and structure to sustain floating forex policy except CBN knows how much dollar people need in a day, which is impossible.

This is Nigeria, so it's either you devalue and stablize or you stick to your hard-line and criminal disbursement of our dollars to your friends and relatives.
There is too much corruption in the system and it will take years to clear.
Some people will have to be jailed forever before we can achieve that, That's what the Chinese did and maintained.
The problem is that some animals already believe that it's a way of life to cheat the system.
When you appoint your friends and family to CBN or any agency ahead of more qualified people, That's massive corruption. You may think you are doing them a favour but the truth is that you are setting the country back.

Either way, we can only suffer it for a few more years before you either finish your tenure or die. Time takes care of everything.
I am not wishing you death, it's a natural occurrence that seems to target old people more than the young ones.
Just that we fail to acknowledge that.

And before the trigger happy banner pull his trigger, understand that i am just saying the truth and that i don't care.

flyca:
At this rate, N1to $1 --- Vision 3050

erico2k2:

Lie Big LIES
I sent pounds home today and got N452, so how can black market in Nigeria then sell at N450
stupid silly liars

amagunnerfan:
You probably use world remit or lebara, those networks are cheats. I am in Nigeria but have an offshore business with new to move money down here at least 3 times a week, lebara and co are thieves. Imagine remit paying out 197 for a year until 3 months ago? Those unregulated companies have a mind of their own, you can't factor them in.

erico2k2:

Nop I don't I use a BDC agent here. The BDC frm Nigeria have various agents here in London. You pay to thier accounts in Pounds they debit your Nigerian bank account in Naira. The rate they gave me yesterday 22nd was 452. They charge £30-35 fees to transfer £1000 and £5 to shift £100.so if the BDC buys frm me at rate of £1 to N452 how much do you recon they will sell?

amagunnerfan:
You are getting a good deal. World remit payout 435 to the pound. Or 306 to a dollar.

erico2k2:

I think you are over excited,who are teh black marketers?
Anyone who deals in forex other than teh banks right

MrTruth4real:

Currently there are more than 10 banks, selling forex, abt 15 or 20, (not sure) but i think any bank can sell fx, till December this yr. From December only banks who meet the requirements will be allow to sell fx. So let's wait and see how many banks will be able to make the requirements.

SamMilla1:
It's back to 340 this evening; Call your Mallam.
The Kangaroo hide and seek policy will be running in circles.
There is no foundation and structure to sustain floating forex policy except CBN knows how much dollar people need in a day, which is impossible.

This is Nigeria, so it's either you devalue and stablize or you stick to your hard-line and criminal disbursement of our dollars to your friends and relatives.
There is too much corruption in the system and it will take years to clear.
Some people will have to be jailed forever before we can achieve that, That's what the Chinese did and maintained.
The problem is that some animals already believe that it's a way of life to cheat the system.
When you appoint your friends and family to CBN or any agency ahead of more qualified people, That's massive corruption. You may think you are doing them a favour but the truth is that you are setting the country back.

Either way, we can only suffer it for a few more years before you either finish your tenure or die. Time takes care of everything.
I am not wishing you death, it's a natural occurrence that seems to target old people more than the young ones.
Just that we fail to acknowledge that.

And before the trigger happy banner pull his trigger, understand that i am just saying the truth and that i don't care.

hrykanu231:


Bought stuff on amazon, paid through my first Bank master card and I was charged 295 Naira.
Paid#21,350 for 72$

bharnjey:


Just be sure that FBN will still debit your account for that transaction as it is a DCC transaction. As at 20 June, no bank in Nigeria card rate will be 295/dollar. They were pegged at nothing less than 320/dollar.

Well, FBN can prove me wrong sha

greenpasture:
[sub][/sub]

Temporary? In the short term maybe, in the long run certainly not. You can expect a stronger naira in the long term. Without floating the currency there is no encouragement to remit non oil dollars. Next month the $6bn Yuan swaps kicks off. Meanwhile accumulated pressure on the naira was wiped out with the $4bn sale.

This is not just a devaluation, it is an entirely different mechanism. We have never had official forward rates before and this is huge because it allows the market manage risk. Over time arbitrage within a market shrink. There is no reason to expect that over time the naira will not become stronger on the back of increased non oil exports.

optimusprime2:

Can you currently make this statement in public again in light of price Volatility?