Smartguyboy:

I guess USA and Uk are the only countries in the world?
I see
For your information BDC hang around in airport in many countries.

He just want to help as a passionate person.

Druss:
Peter, I don't agree with you on this.

dettolgel:


Go to Amsterdam, Brussels, Antwerp, Rotterdam you will find their equivalent of Mallams.

We have the habit of destroying people's business as a way of punishment.

Government could have simply given them 2 weeks to register and that their representative should bring the list of registered Mallams in their district.

During a raid if an unregistered Mallams are seen government will fine the Mallams in charge of that area 5 million naira for each unregistered Mallam operating there and the fine should be paid within 5 business day or they will be prosecuted and their licence withdraw.

That way the Mallams will also be part of the enforcers no business destroyed no body is being harassed, government is making cool cash and mallams are feeding their children.

APC can use the idea I won't complain as long as it moves the country forward.

OPICANTO2223:
They will still attack you PO. Stop giving them ideas on how to rule Nigeria. Hmmmmmm

CilicMarin:
Peter Obi know nothing other beer factory.

The naira has been on steady appreciation, since all the reforms and crackdown are going on.

Check the rate this morning.

Tareq1105:


They get it through some unscrupulous Bank officials involved in round tripping and arbitrage, and through some returnees who arrived from abroad.

Most of the BDC are not registered.

BDC operators are no longer allowed to be hanging around.

They're to:

Get registered,

Recapitalize to #2b,

Get license,

Get a registered office address,

Stay in your office not roaming about,

Wait for customers in your office,

Keep records of your operations for Audit purposes,

Take BVN / Int'l passport Data page / NIN of every customer,

Complete a Request Form where purpose of buying or selling of dollars would be stated,

Pay their dollar or Naira (as the Case may be) into their local bank account or domiciliary account (not cash),

If traveling abroad, you only get $500 cash while balance of BTA for $4,500 would be cashed when you get to your destination.

Registered BDC operators have computerized their operations now (it's in the new CBN regulations),

BDC operations be linked with regular banking operations,

Submit your operation records for CBN inspections twice monthly.

This is what CBN is simply asking for. No reasonable president would sit down and watch his currency being destroyed by speculators.

Operators hanging on the road would be arrested and charged for economic sabotage. If you want to travel, don't stand on the road, enter the motor park.

Tareq1105:


Obi is insincere and very surreptitious.

Winneepye:
Deceiving his obirodents. How do you move from consumption to production without first investing, where is the technical know how, where are the machineries, where is the electricity, how do to you compete with advanced nations with our current high cost of production. How do you import at a high price without first stabilising the Naira.
If you think trying to increase our income by first bringing back our refinery wooing investors is wrong then consumption to production does not happen by just saying it.

MikoB:


No one regulates? I can see you know nothing, I am living in a city of over 400thousand inhabitants, believe me the day I wanted to change euro to dollars, it took me over one week in the bank, so many questions and forms to fill, eventually they were the one that decided the limit of how much I can change.

bonechamberlain:
Move from consumption to production.

MikoB:


There is no open stystem like the one in nigeria here, it's either in the banks or a regulated closed offices.

Seefinish:
Fela, CSU accountant wey he knows know him work na wety?

Tareq1105:
Just like your lord and savior Obi, you couldn't mention any country in developed economy. Liars. Your Obi is empty and he's a deceitful person. Tinubu doesn't need his advice. Watch out, MPC members would be meeting tomorrow and next and you shall hear more about Monetary policies to be rolled out.

Passionate indeed. So, Tinubu should sit down and allow speculators and touts to destroy the economy?

Tell Obi to wait till he becomes president in 2055.

dettolgel:


Go to Amsterdam, Brussels, Antwerp, Rotterdam you will find their equivalent of Mallams.

We have the habit of destroying people's business as a way of punishment.

Government could have simply given them 2 weeks to register and that their representative should bring the list of registered Mallams in their district.

During a raid if an unregistered Mallams are seen government will fine the Mallams in charge of that area 5 million naira for each unregistered Mallam operating there and the fine should be paid within 5 business day or they will be prosecuted and their licence withdraw.

That way the Mallams will also be part of the enforcers no business destroyed no body is being harassed, government is making cool cash and mallams are feeding their children.

APC can use the idea I won't complain as long as it moves the country forward.

CilicMarin:
Peter Obi know nothing other beer factory.8

The naira has been on steady appreciation, since all the reforms and crackdown are going on.

Check the rate this morning.

Smartguyboy:

I guess USA and Uk are the only countries in the world?
I see
For your information BDC hang around in airport in many countries.

He just want to help as a passionate person.
BDC are regulated they are not the one fixing the price of dollars Nigeria politicians who hide they dollars are the real problem not BDC or Peter Obi.
His advice he gave Nigeria customs and con has been implemented as if yesterday because they are all confused they are just doing copy and paste .
Watch out next advice he will give they will implement it again.

jumper524:
The raid was not on bdc but on those Mallam engaged in an already outlawed activities.
BDC operators were only slammed with regulatory policy so as to tighten the loop holes they exploited.
The naira has been on steady gain ever since and today it's 1600.
I'm sure Peter obi was the same person who clearly stated you don't remove a teeth just like that because it aches you.

Thanks for tutor them, most people are so myopic in thinking belief that the raid is on BDC operator. Awon ode listen to adviser from madman. [color=#000099][/color]

Corruption, underproduction are part of our problem, we aren't pleased with that but then we don't allow a new problem of negative speculation develope into a critical one because we are fighting a much bigger problem.
Problem in it's self is well managed at an initial stage.

jmoore:
Tinubu's advisers and cabinet are operating like Ahitophel who was advising Absalom.

The stupidity in using guns to solve forex crisis.

Smartguyboy:

They are called currency exchange 💱 they have shops in the airport , in Germany some stay on the streets etc do your research.
Since Tinubu becomes president many Yorubæ have lost sense of reasoning and FYI we the Igbos don’t need government help or Igbo presidency to survive, which tribe is feeling the heat of hunger and starvation now more ? Even with the president Dey are all starving or have you seen any Igbo complaining?
Even you self you are surprised 😲 both the Hausa are all surprised I know they are planning evil against the Igbos right now but we pass them. Because any plans they have for the Igbos we affect them more just like they are all crying why the Igbos are not protesting.
Come to aba and enjoy 24 hours light 💡. We pass una
😝

CilicMarin:
Peter Obi know nothing other beer factory.

The naira has been on steady appreciation, since all the reforms and crackdown are going on.

Check the rate this morning.

Af0nja:


You know nothing bro, even in Dubai and most Arab countries. Bureau d change is open. All over CFA countries, it's open and people exchange money on the border for travelers. I doubt where you've been to. One of the first needs of a traveler is money and they Don't need to go to the bank to change money

chidiokay:



IF the govt decides to go after the business of "FEW" that are jeopardizing the lives of people and the economy as punishment as i don't see any wrong it
besides, majority of the transactions @ the parallel market is not production driven, all players are just "overnight Profit" driven

I keep asking, what is the benefit or impact of BDC to Nigerians or the economic, does BDC even have any advantage

Af0nja:


You know nothing bro, even in Dubai and most Arab countries. Bureau d change is open. All over CFA countries, it's open and people exchange money on the border for travelers. I doubt where you've been to. One of the first needs of a traveler is money and they Don't need to go to the bank to change money

VanuatuWycombe:


I quite understand your point. But the scenario you painted is, mainly, for travelers and tourists who are changing a few thousands of their foreign currencies to Euro because they need to spend a few Euro in The Netherlands. At least, I have used some of those shops abroad a couple of times. They get your means of ID scanned and attach it to the transaction you are doing and report on same to their government on every transaction you carry out with them.

Likewise, those tourists are not exchanging because they want to import or hedge against Euro like our people in Nigeria are changing because they either want to import or hedge or speculate.

Also, neither the Dutch nor any of the tourists who are changing money have another foreign accounts opened in the Netherlands other than Euro.
You will also notice that there is no Netherlands ’Aboki’ that doesn’t trade through approved platforms (after they have registered). They are also registered and are not wearing baban riga and holding one dying calculator and shouting “dala, yes, oowa” “ founds, yes, owa”.

Any illiterate or educated Abokis, here, who want to do the business should register, have proper office, employ staff, use approved trading platform, report our transactions with them to the authorities through approved means.

OPICANTO2223:
They will still attack you PO. Stop giving them ideas on how to rule Nigeria. Hmmmmmm