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$309Million Flows Into Nigeria’s Forex Market In One Trading Day - Business (3) - Nairaland

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Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by rusher14: 10:43pm On Aug 29, 2016
plaetton:


Same as the other poster.
It took me 2 months of cajoling and shouting to get my few thousand USD from my Dom account.
No dollars, they kept on saying.

I can tell you that I always get my forex from standard chartered bank mostly on the Island but sometimes in the Ikeja area without any hitch.

Even when the policy was that you couldn't use your cards abroad and all that, I never had any issue withdrawing from my dorm account over the counter.

Please do you mind stating where your bank is situated not necessarily the branch?

Do you operate a forex current account alongside your Dorm account?

1 Like

Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by erico2k2(m): 10:55pm On Aug 29, 2016
hamingra:


You are not saying the truth. If a bank tells you it doesn't have dollars to pay you, how then do you claim that they had converted your dollar to naira in your account! I have a DOM account and my bank tells me same thing but they advice I go to Abuja or any other state branch of their bank where the have enough dollar to give out.

Make you dey lie small small
Does this statement of urs make any diff? what he said is something you are now saying infact they gave him the option of collecting in Naira at waht rate, thats another kwesionnn

1 Like

Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by erico2k2(m): 10:58pm On Aug 29, 2016
rusher14:


I can tell you that I always get my forex from standard chartered bank mostly on the Island but sometimes in the Ikeja area without any hitch.

Even when the policy was that you couldn't use your cards abroad and all that, I never had any issue withdrawing from my dorm account over the counter.

Please do you mind stating where your bank is situated not necessarily the branch?

Do you operate a forex current account alongside your Dorm account?

Someone said SKYE Bank, so waht are you gonna do about it??
Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by Businessideas: 10:59pm On Aug 29, 2016
repogirl:
the guy is right, same thing recently happened to someone I know. He had to call someone he knew personally in the bank [size=18pt](Skye)[/size] before it was resolved and he got his dollars.

These are hard times

The case of Skye Bank is peculiar. Moving dollars into that bank is dangerous for now wink
Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by nwokoloh7: 11:04pm On Aug 29, 2016
marksburg:


oga u myt be right but I put it to u that u were only offer an alternative Wch was not mandated for u to accept. what was transacted for u is a dom-naira exchange. u proly took d offer Cos u were too in
a hurry to check another day or another branch.
payment of fcy is only based on availability as u can't compel a bank to pay u what it doesn't have. naira is our official currency and nothing else. thank you

I have my dorm account in zenith bank and for the last six months I have not been able to withdraw dollars or pounds from my dorm account in as a bad, I have even gone as far as anambra state branches for fx but all claim non availability so pls lets get our facts correct.
Businessideas:

The case of Skye Bank is peculiar. Moving dollars into that bank is dangerous for now wink
marksburg:


oga u myt be right but I put it to u that u were only offer an alternative Wch was not mandated for u to accept. what was transacted for u is a dom-naira exchange. u proly took d offer Cos u were too in
a hurry to check another day or another branch.
payment of fcy is only based on availability as u can't compel a bank to pay u what it doesn't have. naira is our official currency and nothing else. thank you

I have my dorm account in zenith bank and for the last six months I have not been able to withdraw dollars or pounds from my dorm account in any branch. they all said they don't have fx. I have even gone as far as anambra state branches for fx but all claim non availability so pls lets get our facts correct.
Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by 1kinggy(m): 11:10pm On Aug 29, 2016
ShootToKill:


Oga close your mouth, TWICE I went to the bank to collect my Dolls early this year. TWICE they told me they had no dolls to give and offered to pay in naira.
Infact when I logged into Internet banking my Dollars where converted to naira equivalent on screen.
Last I went there a month later, I clear 90% of what is in my dorm account.
So close your poverty-stricken mouth, I've been saving in dollars since my 100L days like many people that are financially futuristic.

No bam would change your foreign currency to naira without your approval.

1 Like

Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by zeembab(m): 11:28pm On Aug 29, 2016
Keneking:
OK so how does this affect the fact that Naira closed at 420/$ today.

Useless government


LOOKING AT THIS THREAD....IT IS OBVIOUS THAT NIGERIANS HAVE REFUSED TO LEARN FROM OUR COLLECTIVE MISTAKES.

HAS ANYONE EVEN ASKED WHY NAIRA ALWAYS DEPRECIATE AGAINST DOLLAR. THE SIMPLE ANSWER IS.....WE ARE THE MOST UNPRODUCTIVE SET OF SPECIE EVER WALKED THE SURFACE OF THE EARTH.

ALL WE DO IS TO CONSUME OXYGEN.....AND EVERY OTHER RESOURCES PROVIDED BY THE NATURE AND GIVE NOTHING BACK.

IF WE ARE PRODUCTIVE PEOPLE, WEST AFRICA MARKET ALONE IS BIG ENOUGH TO BUY OUR PRODUCE AND PROVIDES THE MUCH NEEDED HARD CURRENCY. UNFORTUNATELY, A LOT OF US WILL BLAME GOVERNMENT.....BLAME EVERYONE ELSE EXCEPT OURSELVES.

UNTIL WE LEARN HOW TO UNDERSTAND THE BASIC PRINCIPLE OF ECONOMY AND BECOME PRODUCTIVE, NOT THE USUAL BUYING AND SELLING WE DO ALL THE TIME.

OUR ECONOMY WILL REMAIN IN THIS WAY......AND GOD WILL NOT EVEN MIND US. EXCEPT WE PLAY BY THE RULE THAT GOVERN THE WORLD.

3 Likes

Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by Chukzyfcb(m): 11:29pm On Aug 29, 2016
Chidonc:

you said it yourself that they told her they dont have pounds, they didnt convert her money to naira equivalent againts her will or was she paid in naira.
no it wasn't converted to naira, I wouldn't even advice her to take the alternative when she could earn more if she changed the money at the parallel market. it wasn't converted anyways, money still in the account pending when the bank will have pounds.
Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by Tmoyo(m): 11:31pm On Aug 29, 2016
Buhari4dullard:
ONE DAY OUT OF 271 DAYS?

WHEN PDP WAS IN POWER IT WAS NOT LIKE THIS

WHEN PDP WAS THERE IT WAS N215 TO $1



I BEG EVEN NAIRA DEY VEX FOR THIS ALOOF GOVT OF BUHARI

and when PDP dey power, we have the aviation minister travelling in and out summing up to 750million in a year, we also have the Dasuki the NSA turned atm master, we also have the sudden increament without no gain and the continuous payment of 4billion to service the subsidy...Are u still there, we also have the Fallout immigration exercise where seven applicants died miserably....Mind you they use some certain amount to service the dollar in their own favour....If na PDP...It can only be corruption

2 Likes

Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by olurotimi1: 11:43pm On Aug 29, 2016
Tmoyo:
and when PDP dey power, we have the aviation minister travelling in and out summing up to 750million in a year, we also have the Dasuki the NSA turned atm master, we also have the sudden increament without no gain and the continuous payment of 4billion to service the subsidy...Are u still there, we also have the Fallout immigration exercise where seven applicants died miserably....Mind you they use some certain amount to service the dollar in their own favour....If na PDP...It can only be corruption
but wasn't as difficult as we have now. Forget all those stories.

1 Like 1 Share

Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by rildwanullahi(m): 11:45pm On Aug 29, 2016
ShootToKill:


Oga close your mouth, TWICE I went to the bank to collect my Dolls early this year. TWICE they told me they had no dolls to give and offered to pay in naira.
Infact when I logged into Internet banking my Dollars where converted to naira equivalent on screen.
Last I went there a month later, I clear 90% of what is in my dorm account.
So close your poverty-stricken mouth, I've been saving in dollars since my 100L days like many people that are financially futuristic.
It is people like you that are killing the naira By speculating, invest in govt bonds and treasury bills instead or start a small business

1 Like

Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by agabaI23(m): 11:46pm On Aug 29, 2016
rusher14:


I still insist you are lying.

Name the bank that claimed not to have dollars to give you from your Dorm account.

Watch how members of this forum from such bank would debunk that statement.
Stop saying what you are not familiar with. They have been doing that. It was worse before the naira was floated.

1 Like

Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by Tmoyo(m): 11:47pm On Aug 29, 2016
olurotimi1:
but wasn't as difficult as we have now. Forget all those stories.
issorite....stay there and be minding the hardship.... Try convince me say when petrol moved from 65 to 150 for Jonathan's regime, hardship no dey?....no until election don reach one month...Petrol enter 86.....If no be buhari...it can only be corruption

1 Like

Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by Buhari4dullard: 1:15am On Aug 30, 2016
Tmoyo:
and when PDP dey power, we have the aviation minister travelling in and out summing up to 750million in a year, we also have the Dasuki the NSA turned atm master, we also have the sudden increament without no gain and the continuous payment of 4billion to service the subsidy...Are u still there, we also have the Fallout immigration exercise where seven applicants died miserably....Mind you they use some certain amount to service the dollar in their own favour....If na PDP...It can only be corruption

No be simple budget dem no fit pass,becos APC don pad like masquerade ?


Under the so called corruption, Nigeria was the biggest economy in Africa.

APC enter where is it now?

I hear say light no dey Murtala Mohammed Airport, CHAI!

APC has killed Nigeria

1 Like

Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by Viktor1983(m): 1:20am On Aug 30, 2016
Zico5:
No matter the situation, I will never give up on this country. Let's politicians continue to play mind game. We brought ourselves to this level and we must rescue ourselves. Those breeding hatred are just wasting their time cos PDP has nothing to offer. We will just be back to square one. A bird at hand worth two in the bush. All we need is prayer not change of government. What did we gain from those that left, nothing and they drained everything in the treasury. Forward ever, backward never.


Lol @ "all we need is prayer"..... You would make a great comic fam. So all the chants from adeboye, oyedepo ,TB et al never do?
Who prayer don help?
Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by Tmoyo(m): 1:37am On Aug 30, 2016
Buhari4dullard:


No be simple budget dem no fit pass,becos APC don pad like masquerade ?


Under the so called corruption, Nigeria was the biggest economy in Africa.

APC enter where is it now?

I hear say light no dey Murtala Mohammed Airport, CHAI!

APC has killed Nigeria
and also during Goodluck's regime, light comot for Teslim Balogun stadium...in the Under17 final match btw Nigeria and Switzerland....that one day

2 Likes

Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by Buhari4dullard: 2:36am On Aug 30, 2016
Tmoyo:
and also during Goodluck's regime, light comot for Teslim Balogun stadium...in the Under17 final match btw Nigeria and Switzerland....that one day

No vex oh!

I no hear people screaming for stadium!

But national airport?

I beg, ur dullard na the worse thing to happen, everybody eye don see am.

Well we should not be surprised, the man no go school

1 Like

Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by anonimi: 3:27am On Aug 30, 2016

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Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by anonimi: 3:29am On Aug 30, 2016
Buhari4dullard:
No vex oh!

I no hear people screaming for stadium!

But national airport?

I beg, ur dullard na the worse thing to happen, everybody eye don see am.

Well we should not be surprised, the man no go school

No mind the confirmed zombie, bro.
Maybe he needs this? grin



www.nairaland.com/attachments/4138262_4109483antizomiejpeg1276cb01fb98179024c520182627317d_jpeg2a8694795af659621780a6dabda65496

3 Likes

Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by HIPROFILE(m): 3:51am On Aug 30, 2016
NetBizguy:
I have an idea to generate over $20m in 2 months.. I just lacked N5m capital and I can't find help in this country.... I just de vex I swear

For real or are u joking?
Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by yommyuk: 4:20am On Aug 30, 2016
reading posts on this thread has make me thank my lucky stars for keeping my gbp skye dom account at the minimum deposit required - £100 cheesy

Naija is done
Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by Nobody: 4:36am On Aug 30, 2016
repogirl:
the guy is right, same thing recently happened to someone I know. He had to call someone he knew personally in the bank (Skye) before it was resolved and he got his dollars.

These are hard times


You are right. My bank, access bank, told me that they would not pay me in dollars. I don't know why these guys ( rusher14, 1stcitizen, blueto) think shootTokill is lying. I have experienced such. Right now, I can't even withdraw my dollars, the only thing I can do is transfer .

3 Likes

Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by Zico5(m): 7:03am On Aug 30, 2016
Viktor1983:



Lol @ "all we need is prayer"..... You would make a great comic fam. So all the chants from adeboye, oyedepo ,TB et al never do?
Who prayer don help?
U are not ok, so u want everybody to follow u and castigate this government. When ur people were there, tell me one tangible development that this country experience. Look PDP is dead and u or ur ipods can never raise it. That's the bitter truth.
Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by rusher14: 7:31am On Aug 30, 2016
Avalon316:



You are right. My bank, access bank, told me that they would not pay me in dollars. I don't know why these guys ( rusher14, 1stcitizen, blueto) think shootTokill is lying. I have experienced such. Right now, I can't even withdraw my dollars, the only thing I can do is transfer .

Please be clear about facts.

Are you saying you run a domiciliary account (perhaps denominated in dollars) which has been funded and then you get deprived of your funds?

I'll be clear, your contract with the bank concerning a domiciliary account is that you can access same in the same currency it was funded on demand.

I insist this is quite different from say a western union or moneygram transfer which people sometimes mix up with a domiciliary account.
Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by Nobody: 7:35am On Aug 30, 2016
Avalon316:



You are right. My bank, access bank, told me that they would not pay me in dollars. I don't know why these guys ( rusher14, 1stcitizen, blueto) think shootTokill is lying. I have experienced such. Right now, I can't even withdraw my dollars, the only thing I can do is transfer .
please don't misconstrue my comment. I solely reproached him for the invective phrase that he used. I never indicted him of mendacity relating to the dollar issue.
Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by rusher14: 7:37am On Aug 30, 2016
agabaI23:
Stop saying what you are not familiar with. They have been doing that. It was worse before the naira was floated.

I cannot expose my private business here but I have been running domiciliary accounts that are well funded without hitch.

I insist your bank would pay out based on the currency deposited in your account.

Nigerian banks are not the best in the world but you cannot give them a reputation they don't have.
Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by nairaimporter: 7:48am On Aug 30, 2016
CosmeticChemist:


Can you send me a business proposal ? 5 million is not much.

Sir, I the founder of www.sellernearby.com, please I would love it if you invest in us.

We are an online marketplace focused on University communities for now. We have a big market with potential for growth.

I am a student at the University of Ibadan. We don't need a large investment, just about 500,000 naira. You get equity in return.

Can I send you a PM with our business plan.

This is a business that is already working and we have made sales
Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by Nobody: 7:50am On Aug 30, 2016
rusher14:


Please be clear about facts.

Are you saying you run a domiciliary account (perhaps denominated in dollars) which has been funded and then you get deprived of your funds?


Yes, access bank will not give me my dollars if and when I need my dollars. They would rather give me the naira equivalent.

I was told this is a CBN directive.

2 Likes

Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by Nobody: 7:57am On Aug 30, 2016
rusher14:




I insist your bank would pay out based on the currency deposited in your account.


Bro, you sure about this? What bank?
Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by rusher14: 7:59am On Aug 30, 2016
Avalon316:


Yes, access bank will not give me my dollars if and when I need my dollars. They would rather give me the naira equivalent.

I was told this is a CBN directive.



There is no such CBN directive.

About a year ago some fella came on this forum making the same claim which I even then debunked.

I cannot count the number of times I have made withdrawals since then and still do.

For sure there's something not being understood by many making such claims.
Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by rusher14: 7:59am On Aug 30, 2016
Avalon316:


Bro, you sure about this? What bank?

Standard Chartered Bank.
Re: $309Million Flows Into Nigeria’s Forex Market In One Trading Day by Pchidexy(m): 8:11am On Aug 30, 2016
Zico5:
No matter the situation, I will never give up on this country. Let's politicians continue to play mind game. We brought ourselves to this level and we must rescue ourselves. Those breeding hatred are just wasting their time cos PDP has nothing to offer. We will just be back to square one. A bird at hand worth two in the bush. All we need is prayer not change of government. What did we gain from those that left, nothing and they drained everything in the treasury. Forward ever, backward never.

You are pathetic! Smh! So, you mean we should keep on with Buhari? You are a stupid zombie!

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