Angelfrost:
The only permanent way to save Naira is to drastically cut down importation...! Increase production and self-sufficiency, as well as start exporting commodities.

All these selfish approaches and counsels from forex traders mean nothing in the long term... The Naira will keep depending on foreign currencies for all major transactions and business deals, with IMPORTATION being the number one culprit.

Nigerians have to start shunning foreign-made products and actually consume more of Naija-made... DSTV, MTN, etc, will have to suffer.

ban d black market.

dennisworld1:
ban d black market.

You're right... That would also help, but not without its attendant difficulties on the average citizens.

Watin consign binance? Binance is a crypto exchange platform. If they have dollar listed as one of the fiat currency to allow trading CRYPTO on their platform how is that your business? You might have to ban every crypto exchange then.
The world has gone beyond having brick and mortar offices everywhere. You just want to monopolize the market, because FG and CBN have mandated a the market forces should determine exchange rate and cut you out of the loop. You just want to suffer common man.

CodeTemplar:
So everyone can go to them for dollar until demand pushes price to N2000/$ right. Useless people.
It is like rice farmers coming out to tell FG to ban corn so demand for rice and its price can remain high.

Don't mind the Fulani janjaweedds and Fulani Caliphates looking for cheap money. Monkey dey work baboon dey chop

This one doesn't know what he's talking about. Government no longer sell to BDC, the people are not getting forex from their banks and yet you want the only route through which the people can access forex to be blocked? One would've expected them to advocate for it to be embraced to reduce the strain on the local forex market. Werey

ogododo:


https://gazettengr.com/abcon-bureaux-de-change-tell-fg-to-ban-binance-to-save-naira/

I created a thread about this months ago, the FG has refused to do the needful. Binance and other crypto exchanges now determine our exchange rate.

They have a point, the rate i am seeing on binance is rediculously high! Not even aboki rate is this high!! 907.... 908.....909 to a dollar like wtf

Investors are not coming. Nigerians don’t have confidence in the market and we have to look for external finances that are coming in as a quick fix. You want investors to come when you guys are busy killing the ones around with stup*d policies.

CodeTemplar:
So everyone can go to them for dollar until demand pushes price to N2000/$ right. Useless people.
It is like rice farmers coming out to tell FG to ban corn so demand for rice and its price can remain high.

my guy, those people no dey understand all these kind of technical stuffs. Instead of sitting up and upping thier game, na BINANCE Dem dey look.

Exchange rate cannot be fixed at a daily rate. It should be a real-time value based on the intentional buying and selling of commodities on the foreign market. A static FOREX rate by the BDCs is a scam to make cut-throat profits and this is where Binance is far better.

ogododo:


https://gazettengr.com/abcon-bureaux-de-change-tell-fg-to-ban-binance-to-save-naira/

With the unification of forex market, bureaux-de-change are out of market for good. Even if they kill binance which is nearly impossible, nothing will make there business boom again with their outdated mode of transactions.

He be like say ABCON dey mad abi

Thieves

okooloyun1:
They want the government to ban the platform that some Nigerians dey use to survive. Bureaux de change are the ones that the government should ban.

Govt have suspended them since last two years na. So what are you saying?

BigDawsNet:
Fix the economy

$1 Is almost 900

It's 915 now

dennisworld1:
ban d black market.

What is black market if i may ask?
How will you ban them?

Black market is an abstract something.

omoluka:
They have a point, the rate i am seeing on binance is rediculously high! Not even aboki rate is this high!! 907.... 908.....909 to a dollar like wtf

This is what people dont know.

Binance sell usd at a ridiculous high rate.

It's almost 930 on their site

omoluka:
They have a point, the rate i am seeing on binance is rediculously high! Not even aboki rate is this high!! 907.... 908.....909 to a dollar like wtf

Regular and digital Banks exchange rates are still higher. Binance is the one playing catch up right now.

AmotekunSW:
Instead of these fools to digitize their operations, they want to ban Binance.
Brain-dead fools.

Imagine BDCs not having an app to change funds even if it is payment after confirmation. Are they not ashamed?

As big as Sulah BDC is, they don't have an app to trade currencies, meanwhile small boys like Kuda and Co are doing well with their online banking apps.

Omo I don think the thing well well
How can the BDC not have apps where you can change dollar to naira as a p2p like we have In Binance and co

I wish I had the money I for don start am since

crismark:

This is what people dont know.

Binance sell usd at a ridiculous high rate.

It's almost 930 on their site

This is not true. Binance rate is still cheaper than many bank rates right now.

Wema Bank is around 950 while Binance is 910.

BigDawsNet:
Fix the economy

$1 Is almost 900

905 chief 🥴🤣🤕

crismark:

It's 915 now

I came late 🤣🤦🏻

Mumu people

BannedUser:


This is not true. Binance rate is still cheaper than many bank rates right now.

Wema Bank is around 950 while Binance is 910.

Bank rate started going up when the useless CBN decided to remove hand in forex transaction. Aside that Binance, kuda, pillow etc are all criminals

ogododo:


https://gazettengr.com/abcon-bureaux-de-change-tell-fg-to-ban-binance-to-save-naira/

See what useless abcon bureaux is saying ban biance because people trade with them does it make sense , why don't we ban bureaux de change for exchanging dollar to naira , what nonsense are these people saying, I go suffer make my money, you want to decide for me how I should invest my money what nonsense, cryptocurrency helps FG can't ban it , let them try it , useless abcon.

crismark:

What is black market if i may ask?
How will you ban them?

Black market is an abstract something.

make it illegal like those selling hard drugs. Let the general public be aware. Only banks should be mandated to sell or buy the dollars.

It may be a hard decision but I agree with him. On Binance, 1 dollar is 900. Even rising.

Codes151:
Binance that helped me then I need dollars that you people where hoarding.

It's a lie.

You want Nigerians to depend on you idiots.

This binance, how does it work? Eg, How did it help you get dollars? What happens if you change your money to crypto and binance suddenly closes shop, how do you get your money back.
Finally, at what rate do you get the dollar in this crypto binance.
Pardon my asking. I know absolutely nothing about this.

BannedUser:


Regular and digital Banks exchange rates are still higher. Binance is the one playing catch up right now.

Which other digital platform rate is as high as binance p2p? The authorities need to clamp down on binance 💯

A people so hypnotized and they refused to learn.

Not surprised though

How can u ban Binance 🤣🤣🤣 when Nigerian banned crypto what happened? Binance is a p2p platform how can u track that

CodeTemplar:
So everyone can go to them for dollar until demand pushes price to N2000/$ right. Useless people.
It is like rice farmers coming out to tell FG to ban corn so demand for rice and its price can remain high.

This shows how some Nigerians are hopelessly selfish and evil. Imaging an organisation that could not improve or digitalise their operation in 2023 are telling FG to ban Binance for their unfortunate backward selfishness.

@seun Osewa and other top moderators, please stop pushing this kind of selfish news to front page if you love or have interest of majority of Nigerian 's youths at heart.