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Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators - Business (2) - Nairaland

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Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by idu1(m): 6:54am On Aug 31, 2016
I don't care anymore!
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by jazinogold(m): 6:54am On Aug 31, 2016
d same old story.... all na soon soon, Nigeria economy don turn Arsenal FC, next season, next season... we will soon win the league!

1 Like

Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by Miles300: 6:54am On Aug 31, 2016
futurenix:
I thought these licenses were withdrawn just two weeks ago and now it's being issued again.

What kind of leadership did we find ourselves in this 21st century oh God.


BTW has anyone observed the exchange rates in banks for online transaction is always an increment of 30 naira minimum with no option of the inclusive numbers between their current and previous rates.

Like leaving 300/310 to 330/350 without passing through other numbers in between like 311, 312, 313,...

Also left 330/350 to 370/380/ again with no 331, 332, 333,... or 351, 352, 353,...

From 370/380 to 400/400+

I really find this strange considering the naira is floating and bidding is done with such increase at a go.

that in itself is corruption making massive profit .. No regulation , where on earth do u get such exhange rate that adds 20-30 naira weekly ..I noticed that too as well.. Where then is the fight against corruption . Do we say corruption is only wen u loot money

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Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by 989900: 6:55am On Aug 31, 2016
orisa37:
Another way to corrupt the system. We don't want IMTOs. We want more Powers and better Recognition for DMBs and BDCs. Let all Foreign Currencies come into Nigeria through MDBs including CBN only and @ denominated rate. All Foreign Exchange sourcing for Exports, Travels etc must be through our newly empowered BDCs and MDBs. This is simple to operate once there are rules for daily, weekly and monthly Returns from BDCs to DMBs to CBN and FEC.

I share the same thoughts too, I can't really figure how this helps substantially.
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by NaLaugh: 6:55am On Aug 31, 2016
This will have almost no positive effect on the naira.

As a matter of fact, it could make it worse for people in Nigeria.
Mainly because with the new system, money transfer companies are now in the direct price war of a "floating" currency.

e.g Sending Western Union to Nigeria was always 1-5 naira below the official rate, but now it is about 20-40 naira above "official."
This is in response to stiff competition from Ria Money transfer, Transfast and a few others that recently began sending at nearly parallel market rates.

So, more choices = more competition = higher rates on the dollar.

This works perfectly for me. However, I don't see how it would benefit someone in Nigeria or the plight of the Naira.

1 Like

Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by pat077: 6:59am On Aug 31, 2016
What a confuse government

1 Like

Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by dassylegend(f): 7:02am On Aug 31, 2016
Everyday, ts bn "to appreciate". Waiting for "naira has appreciated" news

2 Likes

Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by Deen77: 7:05am On Aug 31, 2016
helpsystem:
Very soon we go hear naira to appreciate if APC or PDP is voted in. Good people useless leaders

Naira will appreciate if we stop importing fuel that is consuming our little forex.
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by Nobody: 7:07am On Aug 31, 2016
orisa37:
Another way to corrupt the system. We don't want IMTOs. We want more Powers and better Recognition for DMBs and BDCs. Let all Foreign Currencies come into Nigeria through MDBs including CBN only and @ denominated rate. All Foreign Exchange sourcing for Exports, Travels etc must be through our newly empowered BDCs and MDBs. This is simple to operate once there are rules for daily, weekly and monthly Returns from BDCs to DMBs to CBN and FEC.

Your strategy is simply what this government is not doing because Na some powerful set of people office dem dey use chop be that if u wan try am they will not allow it.

2 Likes

Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by mchot(f): 7:08am On Aug 31, 2016
We siddon dey look na. No be so they claim say currency deal with China go appreciate naira instead naira dey crash further. Una begin sell to BDCs claiming say e go get positive effect yet naira dey run faster than Bolt. Una don talk plenty things but no effect yet. I cant even keep track anymore. Anyhow una wan do us make una do. There is God oo.

1 Like

Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by eph12(m): 7:08am On Aug 31, 2016
I doubt this. As long as there is pressure on the dollars there would be no significant appreciation. #FACT

1 Like

Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by Ubiero(f): 7:09am On Aug 31, 2016
Why can't the government/CBN encourage the budding money operators here in Nigeria. Honestly, this administration has got to be the most clueless.

Just 2 weeks back, they banned domestic money operators thereby hindering forex coming into the country when the investors have no clue how to get their funds back.

There's no FDI coming into Nigeria anymore. Instead they're all moving out. A lot of companies are on the verge of shutting down because of the fluctuations affecting the FX market.

How can they ask IMTO to come to Nigeria when we have a lot of people who operate the same business.

Anyways, I said it then that this change will probably be the death of us all.
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by AleAirHub(m): 7:10am On Aug 31, 2016
Stories for the gods angry. Apc sprawl Nigerians that dollar will be $1 / N1 and reserve is the case.................















APC That Thunder Is For All Your Faithfuls

Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by luvme0702: 7:15am On Aug 31, 2016
A government full of lies.
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by chysam: 7:22am On Aug 31, 2016
niggi4life:
shocked Abeg make e never appreciate ooooo.

E get Westy wey i wan collect on friday abeg.

I don dey follow western union by d day and d naira kept appreciating every hour. undecided

After this Friday e fit reach $1 to 1Naira.... Abeg CBN


Omo yahoo,Na una way!
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by pek(m): 7:23am On Aug 31, 2016
We've been hearing that for long.
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by Achorise: 7:24am On Aug 31, 2016
Story, APC keep empowering yahoo boys.
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by Nobody: 7:30am On Aug 31, 2016
lamzybaby:
The Central Bank of Nigeria (CBN) has issued licence to more International Money Transfer Operators (IMTOs) to operate in Nigeria.

This is contained in a statement issued by Mr Isaac Okoroafor, the Acting Director, Corporate Communications of the apex bank, in Abuja on Tuesday.

Okoroafor said that the licensing was in furtherance of efforts to liberalise the Foreign Exchange Market, ensure liquidity and make foreign exchange more readily available to low-end users.


Read more: http://nigerianpilot.com/cbn-issues-licence-new-international-money-transfer-operators/

1 Like

Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by jerryfisher(m): 7:30am On Aug 31, 2016
LoveMachine:
Atleast they are saying it's not gonna be worse.
no b this kind news we wanto dey hear abeg!!!wake me up wen e don b 1dollar to 1naira
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by Nobody: 7:30am On Aug 31, 2016
Where is Buhari's election campaign manager? that person needs flogging for deceiving Nigeria
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by freeage7(m): 7:31am On Aug 31, 2016
This government is actually re-defining cluelessness. oya give them the licences today and revoke them tomorrow. sell dollars to aboki today, no dollars for aboki tomorrow.

1 Like

Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by frubben(m): 7:35am On Aug 31, 2016
We are really seeing the change
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by Hedonistically: 7:36am On Aug 31, 2016
Why is Azimo.com not among the new licencees? Make una no make me vex o. That's the only money transfer service that makes me very happy.

1 Like

Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by alizma: 7:37am On Aug 31, 2016
futurenix:
I thought these licenses were withdrawn just two weeks ago and now it's being issued again.

What kind of leadership did we find ourselves in this 21st century oh God.


BTW has anyone observed the exchange rates in banks for online transaction is always an increment of 30 naira minimum with no option of the inclusive numbers between their current and previous rates.

Like leaving 300/310 to 330/350 without passing through other numbers in between like 311, 312, 313,...

Also left 330/350 to 370/380/ again with no 331, 332, 333,... or 351, 352, 353,...

From 370/380 to 400/400+

I really find this strange considering the naira is floating and bidding is done with such increase at a go.

people like you are the ones confusing the masses. who told you that license was withdrawn two weeks ago?
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by bettercreature(m): 7:41am On Aug 31, 2016
They should start paying out dollar in Nigeria, that is the only solution otherwise people will continue to use local money transfer abroad. I mean you will give them dollar abroad and they will pay naira directly to your Nigeria bank account at black market rate
Nigerians abroad are not using registers money transfer anymore they prefer abokkki or local guys

1 Like

Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by IykeB(m): 7:47am On Aug 31, 2016
helpsystem:
Very soon we go hear naira to appreciate if APC or PDP is voted in. Good people useless leaders


You're very correct
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by princesweet: 8:02am On Aug 31, 2016
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Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by futurenix(m): 8:04am On Aug 31, 2016
alizma:

people like you are the ones confusing the masses. who told you that license was withdrawn two weeks ago?

Sorry Sir, their operations was blocked but for Western union, Ria and Moneygram.

https://www.nairaland.com/3265051/cbn-blocks-money-transfers-into
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by berrystunn(m): 8:04am On Aug 31, 2016
niggi4life:
shocked Abeg make e never appreciate ooooo.

E get Westy wey i wan collect on friday abeg.

I don dey follow western union by d day and d naira kept appreciating every hour. undecided

After this Friday e fit reach $1 to 1Naira.... Abeg CBN

Very poor, there are other method for you to get more money western union rate is poor
Tell the person to send via Ria, you will get 380.
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by ibiboatais(m): 8:11am On Aug 31, 2016
Let's just keep hoping for the best. Since our youths (including me) have decided to be docile, this is what we will continue to get.
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by power900: 8:18am On Aug 31, 2016
***singing*** awooon goons mi by olamide.....don't desturb!!!
Re: Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer Operators by chimauga(m): 8:24am On Aug 31, 2016
Naira and tissue paper are like.....

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