If you like put in place 1000 mechanisms for buying and selling forex. Bullsh#!t!! The naira would keep falling.

Why should anyone buy your naira? Are there Nigerian produced items which you are exporting and for which people need to buy naira?
PRODUCTION! PRODUCTION!! PRODUCTION!!! It is not rocket science. These is basic knowledge in economics. Balance of Trade. Production and Export!!

Mtcheew!

bigtt76:
Is CBN giving her forex to Travelex to redistribute or are we depending on Travelex's forex?

Same question on my mind.

Travelex, an international money transfer agent was first mentioned as an alternative dealer to the Bureau de Change operators in January when the central bank announced its decision to discontinue the sales of forex to the BDCs early this year.

It is believed that the introduction of Travelex to Bureau de Change segment will help close the gap between the parallel market and bank’s rate, and facilitates even distribution of forex to the Bureau de Change operators in Nigeria.

Travelex is a foreign BDC operator. I really don't understand how introduction of a foreign BDC operator will both close the gap between black market exchange rate and official CBN rate. Following question needs straight answers from the CBN and the government.

1. Will Travelex bring in fresh or additional forex on top of what CBN injects?

2. Will forex from CBN be given to Travelex to distribute to other local BDCs given their touted technology to distribute to over 1000 BDC's at once? Is that legal? Won't this create conflict of interest given that Travelex is also a BDC operator, and it will also allocate some of the forex to itself?

So many questions requiring clear answers. As with all economic policies of this government, the aspirations are lofty and garnished, but the underlying structure or basis to implement it and make it work is hollow, signifying either lack of clear thought process or outright deception of the public.

RichYoungNigger:
$1 is now 435 naira as of today.

Let me tell you something, it will get worse, we can never recover from this mess Buhari put us into

The Almighty USA (The greatest country in the world) with millions of economists and professionals went into recession and never came back, go to Detroit, Pennsylvania, New Jersey, Las Vegas, Alaska, you will understand what I'm saying, It broke everything in America till date.

How do think a country like Nigeria with a president who didn't even finish High school, who borrowed 4 trillion naira in just 12 months in office will survive the recession ??

This is a story we will tell our grandchildren "How an old man fuccked up a great country and now India is even better than The Great Nigeria.

I saw this coming, i cried about it, i told people not to vote for Buhari but they needed change, Nigeria died the very day Goodluck Jonathan left office

*spits

it is frustrating but pls tone down ur anger, it will only frustrate you more.

Tory, I beg make I face my journey jare. May God help us

bigtt76:
Is CBN giving her forex to Travelex to redistribute or are we depending on Travelex's forex?

This is the part I don't understand. I hope this is not another experiment.

crotonite:
at most in 2 months by God's grace.

Really? Good for you, abeg if you see God tell am say time don dooo, i need hamma but if u miss God place, CARRY UR WAHALA DE GO

4nobody4every1:
Hian, my friend, why now , l will call Buhari today to give you his daughter for marriage so you will not curse him again

pgo17:

Really? Good for you, abeg if you see God tell am say time don dooo, i need hamma but if u miss God place, CARRY UR WAHALA DE GO

.....

This na proper propaganda,this ppl better do something fast before water go pass garri.

Abi




Water don already pass garri sef

RichYoungNigger:
$1 is now 435 naira as of today.

Let me tell you something, it will get worse, we can never recover from this mess Buhari put us into

The Almighty USA (The greatest country in the world) with millions of economists and professionals went into recession and never came back, go to Detroit, Pennsylvania, New Jersey, Las Vegas, Alaska, you will understand what I'm saying, It broke everything in America till date.

How do think a country like Nigeria with a president who didn't even finish High school, who borrowed 4 trillion naira in just 12 months in office will survive the recession ??

This is a story we will tell our grandchildren "How an old man fuccked up a great country and now India is even better than The Great Nigeria.

I saw this coming, i cried about it, i told people not to vote for Buhari but they needed change, Nigeria died the very day Goodluck Jonathan left office

*spits

the official rate is 305. The 440 is for tjose who are bent on importing those things that government had banned.

Obilo123:
the official rate is 305. The 440 is for tjose who are bent on importing those things that government had banned.

These are the kinds of statements that just make me livid with fury. Have you ever bought dollars to pay for school fees or buy domain name or pay for books from Amazon at N305? Our refusal to confront reality in this country is our greatest undoing.

Obilo123:
the official rate is 305. The 440 is for tjose who are bent on importing those things that government had banned.

We don't do official rate

If you have dollars, where are you gonna go change it ? At the bank or at the Abok1 ??

Travellex

Does anyone knows how this Travelex works

Yes if you are a licensed Bureau d Change operator by the CBN you enroll on Travelex biometrics and starts the round tipping.

mailkunle01:
Does anyone knows how this Travelex works