The currency system has turn Nigeria to a dumping ground of used items by the Americans as the currency do down must Nigerians cant afford brand new cars any more we now depend on tokunbo now tokunbo too we cant buy is accidental to extent we now import tokubo bicycles , cloths bras pant , mattress tv , ac etc....creating a prefect markets to dumoing of used and toxin equipment in Africa

Unfortunately africa and Nigeria been lead by clearly dumb and the least intelligent of the populace and coupist or very smart and criminall minded group of corrupt men ....or been voted into power by a mass of semi literate and illiterates pack driven by bigotory.....this is why we would be in devalution cycle for ever .....for 30 years we have be talking about diversification the forex source but no any Seriois step .....mr olodo has blown the excess crude accounts from 2.5 bn dollars to 70 million dollars .....mean while triple the dollar borrowings

The global hawks and wolfs in London (portfolios investor's)has price the naira at 520 to a dollar .....for time frame of 2 years

Good day everyone, stanbic minimum investment for euro/dollar bond is $20000 and I don't have up to that amount. I'm looking to open a domiciliary account so I can convert the little naira I've to dollar but I don't know which bank is the best and can set up the account for me easily online cause I'm minimizing my movements this period. My tbills will be due around 2nd wk of April and another set should be around October and November but I've to write to my bank to cancel it so I can get my money as soon as possible to buy dollar. I hope it's a wise decision and also what are the pros and cons of setting up a domiciliary account?

Does anyone know good and genuine BDC that can help me convert my naira to dollar. I am out of Nigeria, I have a dorm account with GTB and I would like to send some naira from my Naija account to the BDC so that they can credit my dorm account with the USD equivalent. Thanks

gogedda:
Does anyone know good and genuine BDC that can help me convert my naira to dollar. I am out of Nigeria, I have a dorm account with GTB and I would like to send some naira from my Naija account to the BDC so that they can credit my dorm account with the USD equivalent. Thanks

Everdonbdc

Ikjosh04:
Good day everyone, stanbic minimum investment for euro/dollar bond is $20000 and I don't have up to that amount. I'm looking to open a domiciliary account so I can convert the little naira I've to dollar but I don't know which bank is the best and can set up the account for me easily online cause I'm minimizing my movements this period. My tbills will be due around 2nd wk of April and another set should be around October and November but I've to write to my bank to cancel it so I can get my money as soon as possible to buy dollar. I hope it's a wise decision and also what are the pros and cons of setting up a domiciliary account?

Why not go for Investment one VDF minimum is $1000.

Dsticks47:

Why not go for Investment one VDF minimum is $1000.

Euro/dollar bond? And does it guarantee 100% security of capital?

The United Capital which me I have been using for a while now had always accepted Cash deposit up until early January.

I still paid in USD as at December 2019 ending and I had been doing that since I started using them in 2017.

It was in January that the Account Manager told me that Cash Deposits were no longer being honoured.


As regards what CBN said or did not say - what I have sha shared is the reality which we are all currently facing now. Can you make an attempt to transfer funds from your dorm account into the Eurobond investment accounts of either United Capital or Stanbic and let me know if it goes through?

CBN cannot claim to be unaware of what banks have implemented.

I will be waiting for the result of your test. Perhaps we can learn from you

tomtom370:
United Capital never accepted cash deposit, way before any directive from the CBN.

Perhaps, the CBN says the directive isn’t as you explained...Maybe the banks are just the ones making it up. I’ll be testing the directive with some funds soon.

At $20,000 minimum inflow, Stanbic isn’t giving small portfolio investors much of a choice.

The system is rigged against the low and average citizen.

speak2lift:
The United Capital which me I have been using for a while now had always accepted Cash deposit up until early January.

I still paid in USD as at December 2019 ending and I had been doing that since I started using them in 2017.

It was in January that the Account Manager told me that Cash Deposits were no longer being honoured.


As regards what CBN said or did not say - what I have sha shared is the reality which we are all currently facing now. Can you make an attempt to transfer funds from your dorm account into the Eurobond investment accounts of either United Capital or Stanbic and let me know if it goes through?

CBN cannot claim to be unaware of what banks have implemented.

I will be waiting for the result of your test. Perhaps we can learn from you

You are right. Cbn banned transfer of cash deposits.
Since you’ve been doing Eurobonds since 2017, what are the returns like? Is the capital investment safe? Risk free?

ahiboilandgas:
pls buy if u have a secured place to key....i currently have zero naira , i stop banking ....everthing is either dollars,pounds and asset that i can increase their cost too....

What do you mean by a secured place to key? I hope govt does have any plans of tampering with peoples dom accounts by way of charges in the future, since you’ve destroyed tbills and also rendering naira useless a lot of people will be opting for dollars

chigo4u:

What do you mean by a secured place to key? I hope govt does have any plans of tampering with peoples dom accounts by way of charges in the future, since you’ve destroyed tbills and also rendering naira useless a lot of people will be opting for dollars

At this rate of 400+ to a dollar, is it still advisable for one to convert and hold in dollars? Will it still increase?

chigo4u:

What do you mean by a secured place to key? I hope govt does have any plans of tampering with peoples dom accounts by way of charges in the future, since you’ve destroyed tbills and also rendering naira useless a lot of people will be opting for dollars

their is currently 20 bn dollars held by Nigerians .....the federal govt had a proposal to convert same by fait to naira and use the dollar to fund imports to critical items

ahiboilandgas:
their is notting i no talk on the need to to hold some dollars

Yea , you analyzed it earlier. Can you suggest any dollar investments that is 100% capital save. A guy here said he lost about 1k dollars on his euro bond Investment. Which dollar investments has 100% capital guaranteed? I personally don't think that it's a great ideal to convert one funds to dollars *as at now*, then wait for the spike. People that bought dollars at 360 made the kill already, but buying at #404 might not be a good ideal

ahiboilandgas:
their is currently 20 bn dollars held by Nigerians .....the federal govt had a proposal to convert same by fait to naira and use the dollar to fund imports to critical items

The big men who run Nigeria will never allow this though, including the politicians.. only thing they can do is imposing serious charges and restrictions

ahiboilandgas:
their is currently 20 bn dollars held by Nigerians .....the federal govt had a proposal to convert same by fait to naira and use the dollar to fund imports to critical items

Boss u must be kidding me on this, is that even possible.

dandollar1:
At this rate of 400+ to a dollar, is it still advisable for one to convert and hold in dollars? Will it still increase?

Try and look for where to get at 370-385, you cannot lose when you get at these rates

ahiboilandgas:
their is currently 20 bn dollars held by Nigerians .....the federal govt had a proposal to convert same by fait to naira and use the dollar to fund imports to critical items

Are you serious about this,because I keep all my savings in dorm accounts.

zamirikpo:


Boss u must be kidding me on this, is that even possible.

they prosposed it in 2016 if worst come to the worst .....all international transfers would be paid in naira ,all dorm account converted to naira , sale of fgn in NLNG.....

This morning, I made a cash deposit of some USD into my FCMB dollar account and later transferred it to United Capital...My account was debited, it was successful. United capital confirmed receipt.

Out of curiosity, I asked the customer care personnel at the bank who said the “supposed restriction” only applies to cash deposit/transfer beyond $10,000 per week.

Meaning, you can deposit up to $10,000 per week and transfer same electronically.

Tomtom, reporting live from China!

speak2lift:
The United Capital which me I have been using for a while now had always accepted Cash deposit up until early January.

I still paid in USD as at December 2019 ending and I had been doing that since I started using them in 2017.

It was in January that the Account Manager told me that Cash Deposits were no longer being honoured.


As regards what CBN said or did not say - what I have sha shared is the reality which we are all currently facing now. Can you make an attempt to transfer funds from your dorm account into the Eurobond investment accounts of either United Capital or Stanbic and let me know if it goes through?

CBN cannot claim to be unaware of what banks have implemented.

I will be waiting for the result of your test. Perhaps we can learn from you

Do you have account in the US?

tomtom370:
Logically true!

Any way, I’ll be interested.

Yes but it’s a checking account that can only receive from a company account.

You’ve got any offer?

presiade:
Do you have account in the US?

tomtom370:
Yes but it’s a checking account that can only receive from a company account.

You’ve got any offer?

If you can receive deposit from individuals, then we may be able to deal. Depending on how much you need.

In cash traped Burundi for every 100 dollars western union transfer in to the country they take 20 dollars u only get 80

ahiboilandgas:
The advice is for persons holding over 10 k dollars and above 3.6m or 10k dollars to help conserve your sweat ...Dangote has open an office in new york for this to move some wealth there for protection and a system design to keep Africans poor....the us can print dollars while we cant and our value is based on what some else can print .....while we can print baira too but the Americans dont need your naira for anything ....even the once coming to naira zone will spend dollars comfortably in Nigeria

Its a selfish move and an economic sabotage if Dangote should go ahead with that move.

Fact is Nigeria made him, unlike others, he figuratively should die for Nigeria. He owes us!!

CsRockefeller:


Its a selfish move and an economic sabotage if Dangote should go ahead with that move.

Fact is Nigeria made him, unlike others, he figuratively should die for Nigeria. He owes us!!

LOL..

CsRockefeller:


Its a selfish move and an economic sabotage if Dangote should go ahead with that move.

Fact is Nigeria made him, unlike others, he figuratively should die for Nigeria. He owes us!!

very true .....try and read his interview with boomerang in new york he said he trying to protect family wealth cos of devalution 2 after completion of refinery in would invest in tech companies like goggle , amazon or buy asernal.....

ahiboilandgas:
very true .....try and read his interview with boomerang in new york he said he trying to protect family wealth cos of devalution 2 after completion of refinery in would invest in tech companies like goggle , amazon or buy asernal.....

Na cartoon boomerang dey show o, lol. I'm sure you meant Bloomberg

Akin3891:



Yea , you analyzed it earlier. Can you suggest any dollar investments that is 100% capital save. A guy here said he lost about 1k dollars on his euro bond Investment. Which dollar investments has 100% capital guaranteed? I personally don't think that it's a great ideal to convert one funds to dollars *as at now*, then wait for the spike. People that bought dollars at 360 made the kill already, but buying at #404 might not be a good ideal

I am the one. There is a lot going on that we don't know yet. I can't even get the money until a month's time, something that used to take 72hrs.

Beware of Eurobond!

olujaidi:


Na cartoon boomerang dey show o, lol. I'm sure you meant Bloomberg

opps typing prediction error Bloomberg

IamR:

I am the one. There is a lot going on that we don't know yet. I can't even get the money until a month's time, something that used to take 72hrs.

Beware of Eurobond!

It's well, more reason while I shunned the Eurobond thing when I was introduced, fbn quest told me that my capital is not 100% preserved. I jejely put my funds in money market, I don't want to have headaches chasing the rainbow

What happened with your Investment to lose the amount of $1k or 1k euros?

IamR:

I am the one. There is a lot going on that we don't know yet. I can't even get the money until a month's time, something that used to take 72hrs.

Beware of Eurobond!