Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,155,250 members, 7,825,981 topics. Date: Monday, 13 May 2024 at 07:43 AM |
Nairaland Forum / Nairaland / General / Business / CBN’s Supply Ban Won’t Affect Us - BDCs (14484 Views)
CBN Lifts Ban On BDCs, Introduces New Operational Mechanism / Naira Falls After CBN Stops Forex Sales To BDCs / Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs (2) (3) (4)
CBN’s Supply Ban Won’t Affect Us - BDCs by divinehand2003(m): 5:48am On Aug 04, 2021 |
•‘CBN’s supply ban won’t affect us’https://thenationonlineng.net/how-we-get-forex-by-bdcs/ 1 Like 1 Share
|
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by divinehand2003(m): 6:07am On Aug 04, 2021 |
BDCs are already well established businesses. Their networks will make it impossible to pull them down. Whether CBN likes it or not, customers will prefer doing business with BDCs than going to join endless queues in Nigerian banks. 48 Likes 2 Shares |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by frankmoney(m): 6:53am On Aug 04, 2021 |
Lies..... You buy more dollars from your customers than CBN ? 27 Likes 3 Shares |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by bigerboy200: 6:53am On Aug 04, 2021 |
Funny lots.. |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by atobs4real(m): 6:53am On Aug 04, 2021 |
Emefele abeg come answer their thought oo |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by Adebaba1(m): 6:54am On Aug 04, 2021 |
Wahala |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by ceeplusltd: 6:55am On Aug 04, 2021 |
I know it won't be easy to totally eradicate Black market in Nigeria because our banking system is corrupt. Getting dollar from the bank won't be easy for ordinary citizens. � 2 Likes |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by Gten(m): 6:55am On Aug 04, 2021 |
In Zone 4 Abuja, those guys are doing business as usual, I don't think the ban affects them that much. 13 Likes 1 Share |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by Vetsolo(m): 6:56am On Aug 04, 2021 |
Is BDC Nigeria main problem 1 Like |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by Nobody: 6:56am On Aug 04, 2021 |
divinehand2003:You're wrong about this. On the long run, most of them will run out of business. 22 Likes 2 Shares |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by Homeboiy: 6:56am On Aug 04, 2021 |
All these Abokis wey no de let person pass ring road in peace Every time bros you wan change 13 Likes |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by legba1(m): 6:56am On Aug 04, 2021 |
Those folks had been trading even b4 emefiele graduated from school 7 Likes 4 Shares |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by oluwaseyi0: 6:56am On Aug 04, 2021 |
The customer they buy from is the bank 19 Likes 2 Shares |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by morikee: 6:57am On Aug 04, 2021 |
Wahala |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by Uptownerd: 6:59am On Aug 04, 2021 |
Abokifx |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by ecomalchemist(m): 7:00am On Aug 04, 2021 |
Okay na |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by Oracleforce: 7:00am On Aug 04, 2021 |
Emefiele is run out of ideas...he is looking for how to gain people's attention...so, he introduces all kinds of stupid policies... Meanwhile, the source and power that backed these people up are beyond the shores of this country. And this is the reason why a businessman shouldn't rely on government sources alone. As a businessman, your business should go beyond the shore of this country because if any government want to deal with you, he can do it successfully knowing fully well that all your investment is on the shores of this country....and Nigeria's government often are not reliable they usually change policies NEPA light ..meanwhile, BDC has been in existence before emefiele was born...some of this BDC owners were even born into the business. They know the dynamics of the business and they have powerful networks...I was surprised one day when Aboki dollar told me that if I want to change one million dollars the money is available... 9 Likes |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by cardoctor(m): 7:01am On Aug 04, 2021 |
S |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by ecolime(m): 7:01am On Aug 04, 2021 |
divinehand2003:Hope you know their so called networks won't sell to them at N410?... lol By the way, CBN has no business selling dollars to BDC operators in the first place. Those guys were making a killing just by owing a BDC licence. All these at the expense of me and you. 38 Likes 5 Shares |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by gambia(m): 7:02am On Aug 04, 2021 |
They will buy from the bank through customers or directly from criminal bankers. 4 Likes |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by sleek214(m): 7:02am On Aug 04, 2021 |
Because the banks will bring the dollars to you guys. The bank will hoard the dollars and sneak out to sell to BDCs for a higher rate. The banks are the major problem not BDCs. 19 Likes 2 Shares |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by Deathforall: 7:03am On Aug 04, 2021 |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by NamelessOGBENI(m): 7:05am On Aug 04, 2021 |
Time will tell... |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by Coronavirus1: 7:06am On Aug 04, 2021 |
if the ban will make naira appropriate is a welcome development. 2 Likes |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by Ngasky(m): 7:07am On Aug 04, 2021 |
Whoever needs Dollar should go through the legal and documented process. We Nigerians are not ready to improve. Everybody knows the BDC's are wrong and dwstroying us but we are here defending them to perpertuate their illegality against us the same customers and citizens. For now it will be business as usual because they still have dollars stashed. But with time it will be mopped up and it will no longer be business as usual 15 Likes 2 Shares |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by Unsad(m): 7:09am On Aug 04, 2021 |
Omo. See flex oh. This country is really to the ruins. Buying bitcoins and all other digital assets at sweet rates and fast pay. Tap in bosses. |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by lanocfoods: 7:10am On Aug 04, 2021 |
The policy seems to have a positive effect, dollar is down to 400+ as against 500+ before the policy. Hope prices of goods and commodities will come down too. Kudos to emefile 7 Likes |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by Aganju849: 7:10am On Aug 04, 2021 |
divinehand2003: Banks have started the PTA/BTA racket in earnest again. Guess where those dollars will end up? Nigerians are their own biggest problem. Their never-ending quest for overnight riches (aka favour from above) is why this country can never be great. 4 Likes |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by RomanGreen: 7:12am On Aug 04, 2021 |
Abeg, make dollar reach #1,000/1$, that'll really interest me, earning in FCY is the way to go since this useless govt refused to address the challenges of exports and patronizing made in Nigeria goods. That's the only way the naira can be strong not all these regulatory bullcraps |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by Bornbiafra: 7:17am On Aug 04, 2021 |
Since the CBN and FG started removing 50 naira from any money that enters my account is when I knew they are illiterate and fools 2 Likes |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by Mitsurugi(m): 7:17am On Aug 04, 2021 |
frankmoney: It's kinda true. I'm a lawyer for a BDC that doesn't depend on what the CBN doles out considering the volume of transactions it does in a week. A customer did business worth 67000USD just on Monday. BDCs also transfer cash to countries their customers desire so it's not just strictly exchange. 9 Likes 1 Share |
Re: CBN’s Supply Ban Won’t Affect Us - BDCs by COMPAQ(m): 7:19am On Aug 04, 2021 |
DubaiLandLord1: The BDC guys have a point. There are far more transactions that Nigerians need forex for than just PTA,BTA, School and Medical, which the banks cannot provide. Many people are investing in US stocks, buying property, need to buy cars privately, shop on Amazon and other site for business etc. CBN/Banks do not provide forex for most of these and for the ones like car purchase which is on an individual basis, most people have no time for form M and it's delays and would rather just go source their dollar from BDC. Only Stallion Motors, Elizade etc will take the time to go to CBN for forex. While BDC will never go away or become irrelevant, the issue is the rate disparity, which CBN can address by both attacking the demand side (increasing availability at the banks for school and medical is a good first step that reduces the demand at BDC) and increasing the supply side (oil price at $70 helps and is likely where CBN's current yanga is coming from) so that the market can have confidence that CBN can meet the demand longer term, but we need to diversify the economy and create more forex sources for the country. 13 Likes 1 Share |
10 Reasons Why Nigerians Must Start Affiliate Marketing Today / Africa Is Mumu Inc: Us Universities(Harvard et al) buying up African lands / 5 Trusted Sites To Do Mini Jobs Online 2 Earn 10k Daily
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 35 |