omenka:
Haba na brotherly, you too.

Have not had. The "did" already took care of the past tense of the verb.

How those your friends na? Been a while I saw them.

@post: hope this gives some breather to the companies. We need it.

Why do you like chasing shadows instead of the real deal What a programmed r...t. See no evil, do no evil, so far APC is in power, everything they do is good for the polity and Nigerians are obviously better off today. WHAT A SHAME!!!

989900D:
About Erisco, it will be wise not to say anything, unless you know the real story of what is going on. There is more than meets the eye. Too many allegations and counter-allegations both ways.

Only knowledgeable person here. Unfortunately, most folks are clueless

this is what sanusi was complaining about. giving dollars to manufacturers then they sell the dollar to black market making them mk money doing nothing. pls CBN mk sure they use d money for what they r supposed to use it for

Rogersmith:



http://punchng.com/cbn-grants-manufacturers-access-660m-forex/

Watch carefully now in the next few weeks. The price of Dollar will fall, as the parallel market will be a washed with "plenty" $$$$$$$$$!

What a lot of people don't know is that a lot of these manufacturers are round tripping.

Let's look at it this way. It does not take rocket science to know that there is more margin to be made when dollar is sourced at interbank rate of 30d-310 naira (circa)and sold immediately at 470 in the black market. So what most manufacturers do is over invoice dollar requests by over 250-300 percent in connivance of foreign suppliers.

So what we see is a lot of importers asking for dollar to import raw materials and machinery at really exorbitant prices and even the banks that are supposed to verify some of prices are part of the elaborate scam. All leaving the CBN and govt in a state of disarray.

Just recently CBN told BDCS to source dollar from Travellex an international money transmitter and subsequently sell to the public with not more than 5percent margin. The BDC has disoebyed and are selling at with over 50 percent margin. If the govt clamps down on them now, we will all come and be abusing the FGN and CBN whilst we are the main curlpits.


God bless Nigeria

Kpartners:
Csn you ever employ any body?

what is Csn?

Erisco hasnt shut down yet, they still have some raw materials to work with..

What stopped CBN from issuing a communique to manufacturers that so so and so will be made available.Must they wait until companies close down before coming up with this?FYI it's not only erisco that moved his business away oh.I personally know 3 companies that moved to 3 different ECOWAS countries just in 2 months.
I bet CBN has never heard the saying " A stitch in time saves nine"..