Oya stop Dom account transfer to a learned Aboki too 🤣🤣

Bobloco:


At least I'm happy that you did agree to the fact that he got a patched CV. The difference is that it's not as patchy as obi certificate.

He does not have patchy certificate kid.how can an idiot,a corrupt fellow like babachir decide who has patchy cert or not? Is he a financial expert? Mention one financial expert that says he is unqualified

RepoMan007:
A very dull move. Folks abroad already device means of meeting locals in need of forex over social media where they exchange at better rates. The banks and CBN staffers know better and are only saying what Oga-on-top needs or likes to hear.

People are indeed exchanging naira for dollar at a personal level but then the fear of fraud is the beginning of sense. There are already a fair few people looking at different legal issue because money obtained by fraud has been used to credit them in exchange for their naira.

mycar:
How then will BDC can get in flow?

We want to kee BDC. They are part of the reasons Naira is where it is today. BDC operators have been existing for more than 60 years and nobody attempted to stop them because they originated from Mali through Niger Republic to Nigeria and we have always had Northerners plying the trade and more Northern presidents didn’t stop them but rather integrated them into our financial system. They are evil than blessing.

Let’s starve BDC of oxygen till they dai. Naira will rebound.
They have made enough from our economy. Let them divest.

With time, the official forex window will be more available than it is and then government can regulate the financial sector well.

Earthquakes:


Lol because you are not abroad you are shouting better
Once it’s implemented people abroad will stop sending dollars and guess what??
You will know what better feels like with your poor economics skills

Yes, they won't send no cent back home to Nigeria. They will choose to abandon their building projects. They will choose to make their parents and siblings go wretched. They will choose to abandon their businesses back home. They will prefer to use the unofficial platforms which may eventually scam them of their dollars. That's what they will do.

Isn't this the problem we are all trying to solve? If you crave a higher rate from the banks similar to those offered by the Fintech apps, then you are indirectly supporting the unrealistic Naira exchange rate fluctuating at will. When the banks are starved of IMTO inflows into the country, how then would they support genuine requests for FX outflows if they don't have any? Yes they had stocked piled cheap FX to resell at high rates due to pressure from the Fintech apps. With the new CBN regulations, the banks can easily match what the Fintech apps pay out. This is in a bid to attract more FX and push down the rates.

Mavor:
Nigeria will have a serious FX inflow problem. No one will use banks with their rubbish FX rate. Crypto all the way!

Bobloco:
Another trial and error policy from the patch patch CV CBN governor

Bro, this is not a trial and error. It’s long overdue.
There are much foreign currencies in our economy than required and people are speculating with it which making Naira weaker.

OmoOshodi:
The government should grab the bull by the horns and declare the black market illegal and put jail term penalty there...both seller and buyer....shikena

it is foolish advise like this that's killing the govt's conscience.
You want to sieze what you don't own and sell as you please. The petrodollar isn't enough any more and govt can't deal with that. Sad!

As long as there's Binance, payoneer and paypal

I don't have an issue

cornelman:


We didn't find ourselves in this problem. Some of you and your leaders dragged sane Nigerians into it.
Don't talk as if many others didn't know it will come to this.

[b]APC always fails.[/b]This is not their first time.

APC will always fail!

So Father Alia in Benue State will fail because he's in APC right?
Sanwo Olu will fail because he's in APC!

The FG has been sharing humongous money to states and LG, do you care whatever is done with the money?
Anyhow it's just to blame APC or Tinubu or both!

Macphenson:
Nnaaa mehn, I thought Tinubu is a master strategist, I never knew he is a trial and error strategist.

On this issue of dollars scarcity, stop corruption and looting by our politicians and civil servants and trust me we will have enough dollars in circulation.

When they loot in Naira, they use their loots and by up the dollars in circulation and store in either their bank accounts, or their vaults at homes or use it to buy properties abroad.

Most of these estates in high brow areas in Lagos and Abuja with tight securities have so many vaults stashed with dollars.

Yea bro ur right,Ekweremadu is in UK prison but enuff dollars in his POP vault waiting for him and the children,we did some installations for the man then come see mint dollars,they all buy dollars cos of our unstable naira that can be changed anytime,

If US government can just change dollars hmm immediately u see

Inspirer1:

That's what they intend to achieve cos if there are no dollars to sell to the black market traders, everyone will go official as you won't want to buy from the black market traders at a rate higher than what the bank will convert to when you're done with your own trades and want to convert back.

I am sure you have never gone to a bank before to have your naira notes converted into USD cash. If you have, you will know that the terms and conditions are so crazy that you will quietly respect yourself and leave that bank.

If they want to convert all USD receipts to naira cash payouts, they should also make USD notes available to Nigerians who want to leave the country. It works both ways...

Why can't we use our cards for unlimited international payments ?

Namaster:
Tinubu and Cardoso have made another HUGE mistake.

Fools are tightening the noose around banks receiving Forex inflow when there are LITERALLY tons of other ways to receive your money.

No one will use banks to receive money with their nonsense exchange rates when there are better options out there.

Cardoso is a prime example of an extremely inspired idiot.

Imagine creating more hurdles for receiving Forex when the country is already groaning about NOT receiving any Forex in the first place.

That's like pouring MORE water on a drowning man.

Tinubu has no idea what to do with Nigeria. He's too proud and too nepotistic to get people who can help him out of the mess he's created.

Minus the insults and gutter language a good point is made.

BreconHills:


That won't last. BDC are largely owned by politicians which is why naira falls after every FAAC allocation.

Let BDC return to international airports and select shopping malls where they started from.

It'll last as much as corruption last in Nigeria

Macphenson:
Nnaaa mehn, I thought Tinubu is a master strategist, I never knew he is a trial and error strategist.

On this issue of dollars scarcity, stop corruption and looting by our politicians and civil servants and trust me we will have enough dollars in circulation.

When they loot in Naira, they use their loots and by up the dollars in circulation and store in either their bank accounts, or their vaults at homes or use it to buy properties abroad.

Most of these estates in high brow areas in Lagos and Abuja with tight securities have so many vaults stashed with dollars.

They will be forced to release it my brother. Just wait for another policy from CBN on that.
Na little by little. Na we be our own problem. Even lots of people on Nairaland here are currency speculators and they join us in complaining too. We don’t have another primary country than Nigeria. Let’s join hands in repairing it. Let’s join hands in figh..ting civil servants to a standstill. They breed corru:ption. Parts of them are among us here on Nairaland (young and old) and they know how they perpetrate their e,vils at their offices.

jmoore:
Can't the government be sued for this?
Person send dollar, you are forcefully converting it to naira at your own rate, not the rate of the receiver.

Legal robbery!

The clueless people that brought this idea will end up pushing many people to other platforms that can't be captured officially.

Can u send naira to US and hoping to receive naira in the US?

What are the tonnes of other ways you can receive foreign currencies like you stated here? I want to know. Just tell me 5 of them only.

Namaster:
Tinubu and Cardoso have made another HUGE mistake.

Fools are tightening the noose around banks receiving Forex inflow when there are LITERALLY tons of other ways to receive your money.

No one will use banks to receive money with their nonsense exchange rates when there are better options out there.

Cardoso is a prime example of an extremely inspired idiot.

Imagine creating more hurdles for receiving Forex when the country is already groaning about NOT receiving any Forex in the first place.

That's like pouring MORE water on a drowning man.

Tinubu has no idea what to do with Nigeria. He's too proud and too nepotistic to get people who can help him out of the mess he's created.

RepoMan007:
it is foolish advise like this that's killing the govt's conscience.
You want to sieze what you don't own and sell as you please. The petrodollar isn't enough any more and govt can't deal with that. Sad!

bdc!!! Go and sell your dollars in jail... Oloriburuku

Macphenson:
Nnaaa mehn, I thought Tinubu is a master strategist, I never knew he is a trial and error strategist.

On this issue of dollars scarcity, stop corruption and looting by our politicians and civil servants and trust me we will have enough dollars in circulation.

When they loot in Naira, they use their loots and by up the dollars in circulation and store in either their bank accounts, or their vaults at homes or use it to buy properties abroad.

Most of these estates in high brow areas in Lagos and Abuja with tight securities have so many vaults stashed with dollars.

These people keep making economy policies that can not work in Nigeria because of corruption but can only work in countries that have tamed corruption brutally

Hmmmm ..... to starve the black market traders? ... or for a select few to control the black market? Who is going to have access to the forex? ... and what will stop them from selling it on the street? ... or diverting it to foreign personal accounts?

As I see it ... some people have bullion van loads of Naira sitting in banks and warehouses.... losing value as the Naira continues to dive. Why not convert these billions to forex? ... but forex is scarce ... so why not funnel it all to the banks? .... where with connections one can deposit the Naira and withdraw forex? Whatever plans these people hatch ... all have to do with personal gains.

Ibrahimcoomasie:
Access, GTB, UBA, Zenith Others To Pay Customers Money Sent From Abroad in Naira, Give Exchange Rate



https://www.legit.ng/business-economy/money/1577735-come-passport-nigerian-bank-announces-internation-money-transfer-operation/

those days are gone when black market was illegal,in country spending in naira but some are eating in dollar

VanuatuWycombe:


Bro, this is not a trial and error. It’s long overdue.
There are much foreign currencies in our economy than required and people are speculating with it which making Naira weaker.

stop being half smart. Govt needs dollar desperate, we all know that. I can save my money anyway I want let govt do their jobs.

Macphenson:
Nnaaa mehn, I thought Tinubu is a master strategist, I never knew he is a trial and error strategist.

On this issue of dollars scarcity, stop corruption and looting by our politicians and civil servants and trust me we will have enough dollars in circulation.

When they loot in Naira, they use their loots and by up the dollars in circulation and store in either their bank accounts, or their vaults at homes or use it to buy properties abroad.

Most of these estates in high brow areas in Lagos and Abuja with tight securities have so many vaults stashed with dollars.

how did Russia manage ther economy despite the bans from Europe and US? They collected all payment in rubles, created a maximum that can be withdrawn and offload all other currencies, made other countries pay them in rubles for der gas lol, but you people will never want anything good to happen to this country because you are hate filled

Earthquakes:


Lol because you are not abroad you are shouting better
Once it’s implemented people abroad will stop sending dollars and guess what??
You will know what better feels like with your poor economics skills

Let them stop and eat their money. Na their family and projects go suffer.

Emusan:


Maybe you're not into foreign exchange, Buhari did exactly the same in 2017 at it backfired which is the reason naira/dollar rate jump up with over ₦150 then.

So how is this better?

Definetly, these people lack the ideas to run the economy, it's just like recycling old idea.

I'm not into FX trading, but into business seriously affected by FX rate.
What Buhari did is a little different, there was so restrictions on some necessities, also we can't use our account (cards) to pay for FX.
Going forward, we should be able to use our cards for FX transactions, but you won't be able to spend the fiat note anywhere with the country.
I believe a PTA/BTA system will be created to cater for that area for those leaving.

femicyrus:

That is the reason for diplomatic collaboration.
This embassies are located in Nigeria. Ministry of foreign affairs can engage them on the need to transact in naira or only allow transactions through banks that will help you convert your naira equivalent to the currency you wish to make payments with at the embassy.

Nigeria can survive without BDC operation

Is a lie o😂. Nigeria cannot survive without BDC o😂. It is me and u that would affect, it will never affect politicians and big business man. Ministry of foreign affairs cannot solve any shit cos in embassy for instance would only collect dollar cash from you. Do you knpw how many times I have tried to get dollar from bank?. I lost count already, it is BDC that always come to my rescue anytime I need it. Bank only gave the dollars to strong person in Nigeria and not average person. This rule is good but corruption would kill it

OmoOshodi:
bdc!!! Go and sell your dollars in jail... Oloriburuku

lol. Idiotic thing!

RepoMan007:
stop being half smart. Govt needs dollar desperate, we all know that. I can save my money anyway I want let govt do their jobs.

They will get the dollar through oil and other exports.
Th is policy will reduce imports of none senses we are importing. It will force people to bring out their dollars to sell at higher prices, which may, initially, affect Naira but before December 2024 early 2025, things would start stabilizing.

Long ago most of the money remitting apps abroad are not sending dollars to Nigeria. When our people are transferring through those apps, they already converted over 80% of the transfers to Naira and have them sent into their Nigerian bank accounts so that they can be dishing to people from those Naira accounts.
This is one of the measures we need. Tough situations require tough measures. We have been spoilt a lot and it’s not making us think straight. How we have been running our economy in past is not how to run an economy that wants to be a developed one. I live abroad and I know how countries run their economy. Nigerians are lazy and love to be spoon-fed

BreconHills:


Your bank officials want to defraud you. Ask them their selling rate

There is a space that you can do that on my mobile app. Every bank have in it in there bank app. Just click on it and see it for yourself. I rest my case

Bobloco:
Another trial and error policy from the patch patch CV CBN governor

it is not a trial and error practice. This is what is done globally.

004gist:


The same politicians will go to the banks and buy the dollars.

How many Nigerians can get access to dollar from the bank. They will frustrate the person with only option to aboki.
If the government can service everyone that comes to the bank then no need to buy from aboki

No dollar is going to bank again for any politician to buy. All remittances coming in would be in Naira. Read the news well.