oluwaseyi0:
Someone should please explain the issue with trap funds

How do funds get trap when operators don't actually send their money to CBN for keeping

Those airlines have their parent bodies outside of Nigeria

They operate here, meaning we pay them in Naira.

The billions of Naira in their bank accounts in Nigeria needs to be converted to dollars and sent back to their countries.

There dollar scarcity, hence the money remains in Naira.

CBN had to release dollars to the banks to exchange for these airlines so their Naira is converted at ₦420 to $1.

For instance, BA has ₦20billion Naira in Zenith Bank.

They need to convert that money to dollars, but Aboki don't have such dollar volume. Only CBN has, so they give CBN Naira and they get dollars.

It's not like someone seized their money

oluwaseyi0:


Another indirect subsidy?
Or what happened to getting it from other sources like every one else

That means USA is the only country in the world they are not going to have this issue

If you're a frequent international traveler, you would say thank you to CBN.

Buying ticket at Aboki exchange rate means traveling to Kenya may cost ₦500k.

There I&É investors exchange rate different from Aboki exchange rate.

This is helping to check inflation

ivolt:

If you got proper education since you were you born, you would understand basic
mathematics of percentage and proportion.

Reading 4/5

Comprehension 0/5

post=116090566:
Rather late than never.

Anything to move our darling nation forward is all we want at [color=#006600][/color].

God bless our darling Daddy President Muhammadu Buhari and his amiable Vice president Prof Yemi Osinbajo for all they are doing to make this once battered and looted nation work again.

God bless all sane, honest and hardworking Nigerians.
God bless Nigeria.

We Rise.

. When will you stop Mentioning that Statement " Once Battered and Looted Nation " You mean Looting and Battering doesn't exist in this Administration at all ? You mean All the Leaders in this Administration including the Presido ,His Vice,Governor's are Holy Angels with No Single Blemish .

Oga If you truly Love this Country as you always Claim..Can you just be Sincere for Once ..Haba! ...Na Waooo.