stagger:


Why should I? September is approaching when schools abroad (UK and others) are opening for a new session. People will need foreign currency to pay school fees. Where will they source the money from seeing that dollar deposits are now prohibited? It will only come from electronic transfers.

The way I see it, I am actually acting a lot smarter than most people selling their dollars now. What do you think?

mimima:
alternative ways of sending money is through bills for collections and letters of credit.its the best

Ymodulus:
its not easy obtaining letter of credit.

And ma the popular Chinese banks like

1. Bank of China
2. Agricultural bank of China
3. Ibc
4. Merchant bank of China

They don't accept Loc from Nigerian banks except Frst Bank.

Good luck getting an Loc from first bank. It's like getting a pin in a desert.


***edit**

Letters of credit are used for business purposes, in relation to that I used china, since that's the major hub. It's mostly clothes importers from Turkey and veitnam that uses LOC.

Beside you can't use LOC for contraband goods. Good luck with customs

makzeze:
my question is: how would importers of 41 items banned by CBN from interbank market and travellers get dollar to buy?

Ymodulus:

From BDC and sellers. Beside its there is a way to get the dollars over thia cheap using naira.

Some Nigerians even go buy from Benin that's the latest in vogue. But bDC is sure bet. Approach them before Wednesday.

They get dollars supply before wednesday fx from the cbn. Meet a BDC that know his onions.

If you Kano , Abuja. You can dial me up I link you up

Ymodulus:

From BDC and sellers. Beside its there is a way to get the dollars over thia cheap using naira.
Some Nigerians even go buy from Benin that's the latest in vogue. But bDC is sure bet. Approach them before Wednesday.
They get dollars supply before wednesday fx from the cbn. Meet a BDC that know his onions.
If you Kano , Abuja. You can dial me up I link you up

Ymodulus:
its not easy obtaining letter of credit.

And ma the popular Chinese banks like

1. Bank of China
2. Agricultural bank of China
3. Ibc
4. Merchant bank of China

They don't accept Loc from Nigerian banks except Frst Bank.

Good luck getting an Loc from first bank. It's like getting a pin in a desert.


***edit**

Letters of credit are used for business purposes, in relation to that I used china, since that's the major hub. It's mostly clothes importers from Turkey and veitnam that uses LOC.

Beside you can't use LOC for contraband goods. Good luck with customs

Ymodulus:

From BDC and sellers. Beside its there is a way to get the dollars over thia cheap using naira.

Some Nigerians even go buy from Benin that's the latest in vogue. But bDC is sure bet. Approach them before Wednesday.

They get dollars supply before wednesday fx from the cbn. Meet a BDC that know his onions.

If you Kano , Abuja. You can dial me up I link you up

Ymodulus:


Bro, think twice

For school fees you use Form A. That's what is in vogue not all this buying dollars. Beside when travelling with above $10k you have to declare it. And What do you think you can sell yours cheaper than PTA? Or BTA?
Cc: Tdayof

AbuMaryam1:
So far it's 221 in Kano, be like rebounce after the sentiment calm down. Strengthing currency when you are importing country i doubt it.

AbuMaryam1:
So far it's 221 in Kano, be like rebounce after the sentiment calm down. Strengthing currency when you are importing country i doubt it.

makzeze:
whats d selling price of dollar in kano?

LAX89:


Quick question; What is the problem with declaring the $ you have at the airport, when its above $10k? I've made such declaration in Nigeria and overseas, and each time there was no issue. You only have issues when you don't declare the cash, or can't explain it.

makzeze:
whats d selling price of dollar in kano?

chukel:
bayelsa was 195 as at 2pm today. loving this.

Chukz1010:
Please house, can anyone help me out. I want to pay for an evaluation report in USA and I don't have dollar account. Please, how do I go about it? And at what rate would they charge comparing naira to dollar. The evaluation website stated Visa and Mastercard... I don't know how to go about it. Please! Somebody help clarify these questions. Thanks.

Ymodulus:


Nothing is the problem but people really don't like it. Now it outs you in the limelight. I just don't think we should call for unnecessary spotlight.

But I feel that there re clear routes to pay international partners.

Open a Form M with your bank, get a Bill of Collection, approach your bank for USD, if your transaction is not part of the items on CBN restriction you will surely get FX to settle your bills either through the CBN intervention window which is lower than 198 or through the inter-bank/parallel market in the range of 200 per USD.

Your bank will charge your Naira account for the USD equivalent.

makzeze:
dollar now sales for 220 in Abuja.

stagger:


Where please?