Good! Let the ab0kis too feel the effect of the change they voted for

Oh no.. Why this news at this time. If u ask me I no sabi much from dis news!

modath:

If they are being sincere, why is it hard to render returns to CBN?

Unless it's the politician hiding loots in their homes that are doing the purchase!!

Sis the problem is not rendering return but CBN are making it difficult for them. They keep changing rules month by month.

Plus BDC operators are trying to beat the system.

Welcome to Nigeria

You know
..........

Kposkila:
Indeed this Govt is working, let dem feel d brunt, Infact PMB shud change d currency n let all the ones dey stole n stored be a waste!

If you don't understand ask please

Yap

since everything still falls back on BVN, scrap the BDC and let everybody fall back on the bank and the proposed prepaid card, if that will save us the stress.

NOBODYY:
i'm not grounded in economics..but i wouldnt mind if someone can explain to me Why dollar is always used like a "king kong" currency in the world when pounds even has more value than it.. .

Anyone??

U.S.A = world power; that's just the unfortunate truth. And there is nofn we can do about that for now.

We are so bleeped in this country The current policies are completely wrong in my view and we will all suffer and grow poorer as a result.

Pavarottii:

U.S.A = world power; that's just the unfortunate truth. And there is nofn we can do about that for now.

Ooh
So thats just the reason??
If the Once powerful Ancient rome could fall
I dont think the US will be a boss for long
Thannks anyways

Seun:
We are so bleeped in this country.

I thought you do business exclusively in Nigerian Naira.

If your business is legitimate there ios no need of going to black market ? BDC are major source of money laundry and theft.

If your business is legal use form M or form A to get foreign exchange from your bank or use your master or visa card abroad.

Gradually Nigeria is getting right. Sai Buhari

EZEIGBO1OFIMO:
I thought you do business exclusively in Nigerian Naira.

Yes, but when resources are misallocated we all suffer. I have an idea about the best way to support the naira given the current constraints.

This is good, anything to curb kwarruption in the right 21st century way.... You can't trust people, you just have to set up a system where they are forced to be honest. This is a good one, I hope Booohari will agree.

End time CBN

lasisi69:
End time Dollar

/
I was duly informed that banks are no more paying out dollars from Dorm. account....a very good indicator of something bigger in the offing.

Interesting times.

I reduced my exposure/risk to zero until the economy finds its footing.

Sadly, I pulled a plug on Nigeria till then...

/* (Banks failure on my mind.) */

Decipher and take cues. It is your money
/

Emefiele of CBN is not a smart enough person to be allowed to manage the monetary policy of any serious minded country. He was brought in to do the hatchet kind of job we are now reading about between him and Dasuki. Those who brought in knew they couldn't use Lamido Sanusi for their dirty plan because he will not play game with Dasuki the way Emefiele has very much happily played with our foreign reserve to he detriment of our economy and the Nigerian manufacturer and indeed the economy as a whole is paying the price.

koxi:
Really?
How will Dat solve the present economic hardship affecting all of us

Are you aware of the recent heist pulled by Sàràkí's DSS guards on a BDC operator that was laundering raw dollar cash supposedly meant to bribe CCT judges to subvert justice in favour of Sàràkí?

This is a means to further follow the trails of dollar withdrawals and movements by BDC operators who launder money for corrupt politicians.

I hope this is very simple enough for you to understand. But if you need it simpler and in plain English, I'm sure someone here would oblige you.

Wonderful on paper but the reality is crystal clear. With the record low in crude oil price which is our major foriegn earning should necessarily mean we should devalue our currency. Making dollars hard to come by will send wrong signal to investors that we are operating a highly regulated economy which is against the economics basic of demand and supply market and that is a turn off to foreign investors. All major oil exportor like Saudi, Russia etc devalue there currencies in face of dwindling oil price and Nigeria should not be an exception.

Nice move.it will go a long way in curtailing a lot of malpractices in the sector.thumbs up mr Emefele

austinonyii:
dollar is a satanic currency!! I have said it time without number

BY THERE COMMENT WE SHALL KNOW THEM! THIS ONE NA ORIGINAL CHRISTIAN CRUSADER/JIHADIST

In addition to monetary policies, all foreign workers in Nigeria should be paid in naira.

InvertedHammer:
/
I was duly informed that banks are no more paying out dollars from Dorm. account....a very good indicator of something bigger in the offing.

Interesting times.

I reduced my exposure/risk to zero until the economy finds its footing.

Sadly, I pulled a plug on Nigeria till then...

/* (Banks failure on my mind.) */

Decipher and take cues. It is your money
/

What!

I hope you are joking.
What happens to the money?

Facts

The CBN governer lacks confidence
He is whimsical
He is personalising the Apex bank's operation
CBN is finding it increasingly difficult to regulate the BDCs
There is no yardstick used in determining which BDC accesses fx from CBN; the man at the top tells them the maximum, then elimination sets in
The BDCs are the most formidable conduit pipes for money laundering - 70% of fx received from CBN are bought by public fund thieves.

koxi:
Really?
How will Dat solve the present economic hardship affecting all of us

Look beyond your nose!

CBN is as confused as to this present administration.
Why are you frustrating the BDC operatiors??

If you are tired of given them dollar, scrapt the system and give them back their deposit and then make use of the bank then

Why this one week one policy nonscence yet Naira still dey fall like mango in raining season.

Confuse set of people
For those shouting BDC this and that, wait until no BDC then bank go show una their own.Frustration upon Frustration sotee you go cry for them to come back.
Money laundering ko.

They know who they squander Naija money they are busy chasing shadow

Mtcheew.

Use your master card Visa abroad

Are you aware that you can't withdraw more than $300 daily, CBN is frustrating Nigerians abroad with this their too many policies

You can't pay for any international exam through their machant site because of this daily limit nonscence.meaning that once you don't have account abroad all this exams like ACCA, CISA is not for you. Iunless you look for someone that has.

So many policies all in the name of curbing money laundering yet the politicians still have their way.

They are just frustrating genuine business people struggling to make ends meet

This country tire me


If CBN is serious about money laundering they know what to do

HAH:
If your business is legitimate there ios no need of going to black market ? BDC are major source of money laundry and theft.

If your business is legal use form M or form A to get foreign exchange from your bank or use your master or visa card abroad.

Gradually Nigeria is getting right. Sai Buhari

koxi:
Really?
How will Dat solve the present economic hardship affecting all of us

Na wa for u o, na primary sch u go?

adconline:
Why can't CBN sell to banks and they will in turn sell to customers with BVN?

CBN dnt trust banks

NOBODYY:
i'm not grounded in economics..but i wouldnt mind if someone can explain to me Why dollar is always used like a "king kong" currency in the world when pounds even has more value than it.. .

Anyone??

D influence of USA on world economic is d reason y US dollar is used to transact business all over d world. Do u know that US dollar is not even among d first ten strongest currencies in d world? Great Britain Pound(GBP) is in distant 9th position while Kuwaiti pound came first at $3.2 to 1 kuwaiti pound. Goggle is ur friend dear

Emekamex:
Body odour to the rescue

By their comment we shall know them, Biafra

@xandy84

Wonderful on paper but the reality is crystal clear. With the record low in crude oil price which is our major foriegn earning should necessarily mean we should devalue our currency. Making dollars hard to come by will send wrong signal to investors that we are operating a highly regulated economy which is against the economics basic of demand and supply market and that is a turn off to foreign investors. All major oil exportor like Saudi, Russia etc devalue there currencies in face of dwindling oil price and Nigeria should not be an exception.

Thank you. You just nailed it. This is the hard reality on ground. Coupled with the fact that the CBN recently reduced interest rates! The current CBN policy of susidizing the Naira is not sustainable.

well, lets see if the prepaid card stuff would help the Naira... we are waiting... fingers crossed.