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Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe - Business (3) - Nairaland

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Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by onatisi(m): 8:43am On Oct 08, 2016
This travelex policy is the dumbest economic policy I have ever seen. It only shows that this government simply never had an idea of what the Nigeria situation was ,is and they have no idea of how to tackle it. By the time this policy eventually crashes , the naira may crash to as low as 1000 to a dollar

1 Like

Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Clone2020(m): 8:48am On Oct 08, 2016
Efewestern:


do you accept PayPal payment ?..

yes I do, but i have daily limits
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by IamThrive(m): 9:27am On Oct 08, 2016
So what have CBN been waiting for.
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Efewestern: 10:24am On Oct 08, 2016
Clone2020:


yes I do, but i have daily limits

Do.you reside in Nigeria.. i can sell PayPal $ to you every month ... if you are interested give me ur email so we can talk privately
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by henrysam(m): 11:10am On Oct 08, 2016
This one has forgotten about simple economics theory that says "price is determined by the forces of demand and supply"
Lots of illiterates in the helms of affairs in this administration.
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by osusu(m): 11:16am On Oct 08, 2016
Efewestern:


Do.you reside in Nigeria.. Am can sell PayPal $ to you every month ... if you are interested give me ur email so we can talk privately
are u based in d us or anoda country , can u sell currencies to me regularly? Reply asap so we can take it from dere
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by COCKCROW: 11:23am On Oct 08, 2016
Why the parallel market where CBN and banks are there? Is it because of those involved the malam are in control? If it is other locations or people will the light black market Forex survive. At what rate is the dollars sold to them, are there records kept in their biz for accountability of the received, do they even pay withholding tax, and income tax and PAYE for their employee. They can deceive for some times and not all the times.
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Efewestern: 11:38am On Oct 08, 2016
osusu:

are u based in d us or anoda country , can u sell currencies to me regularly? Reply asap so we can take it from dere

I reside in Nigeria.. am a blogger. I can sell to you via PayPal or to your uk Bank account / Nigeria Domiciliary Account
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Exxkay(m): 11:43am On Oct 08, 2016
Who can exchange PayPal to Domiciliary Account fund here
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Exxkay(m): 11:46am On Oct 08, 2016
Pls chat me up on this Whatsapp number o8o277o9oo6 or you send me yours let's talk

Efewestern:


Do.you reside in Nigeria.. i can sell PayPal $ to you every month ... if you are interested give me ur email so we can talk privately
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Nobody: 12:16pm On Oct 08, 2016
onatisi:
This travelex policy is the dumbest economic policy I have ever seen. It only shows that this government simply never had an idea of what the Nigeria situation was ,is and they have no idea of how to tackle it. By the time this policy eventually crashes , the naira may crash to as low as 1000 to a dollar

Another rugged prophesy!!!
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by osusu(m): 12:28pm On Oct 08, 2016
Efewestern:


I reside in Nigeria.. am a blogger. I can sell to you via PayPal or to your uk Bank account / Nigeria Domiciliary Account
ok, my contact is in my siggy, holla @ me so we can talk beta
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Laredojohn(m): 12:50pm On Oct 08, 2016
Who is deceiving who?? And banks are selling higher , Nigeria i hail thee

Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Immorttal: 12:54pm On Oct 08, 2016
But the banks are selling over 400 in online transactions.. Hypocrites.

1 Like 1 Share

Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Clone2020(m): 12:57pm On Oct 08, 2016
Efewestern:


Do.you reside in Nigeria.. i can sell PayPal $ to you every month ... if you are interested give me ur email so we can talk privately

oh no sorry i don't.
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by msogunro: 1:12pm On Oct 08, 2016
My advice to all you people that are not in Nigeria, but want to send money home. Ask a VERY trustworthy person to open a domiciliary account. Wire transfer the money to the account and he/she can convert the dollar at the black market rate and deposit into your Naija bank account.

You should not be converting money lower than the black market rate (#465 to $1).
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Babacele: 1:12pm On Oct 08, 2016
modath:


Don't hold your breath.... Naira full safes and as an economist, a nor need to preach demand, supply , price and lack of control/rules to you again..

Good morning. smiley
I'm sure you have read Anty Oby's letter. It captures the policy defects, inactions and missteps that are affecting the nation now. It is this culture of not taking action wen necessary that has allowed Rivers wound called wike to have festered. He has been getting away with a lot of lawlessness until d DSS submitted a report on his being d sponsor of many violent groups before Aso rock woke from slumber.
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Skmoda360(m): 1:47pm On Oct 08, 2016
If i wanna buy something/phone/gadget online like geekbuying.com how much is it per dollar? I need an answer pls
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by 989900: 3:14pm On Oct 08, 2016
exceltech:


The CBN is not ignorant of this practise, I think there is a silent
agreement between banks and CBN on the rate the banks could
sell.
If Banks can charge #420/dollar for online transactions , it is impossible that BDCs
will sell dollar cash for #356.

The banks use the excuse of checkmating round-tripping made favourable by the wide margin between the BM and bank rates to hike their own exchange rates on international transactions. Now, the same banks and their CBN collaborators with other racketeers are good at hoarding and creating same huge margin, coupled with massive reduced inflow into the economy.

Then we have our little problem of owners of tons of stolen Naira mostly from the previous, in storage tanks, farms, and e.t.c., who desperately need to convert their stash into foreign currencies, preferably dollars, especially with the embattled euro and sterling.

Collectively as a people, we are just too smart for our own good. "Over sharp na hin dey kill monkey."


Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by summerflame(m): 5:10pm On Oct 08, 2016
989900:
Alhaji Aminu Gwadabe, President, Association of Bureau de Change Operators of Nigeria (ABCON), on Friday said it was illegal for his members to sell a dollar above N356.

Gwadabe made the disclosure in an interview with the News Agency of Nigeria (NAN) in Lagos.

He said that the sale of dollar by Travelex to BDCs was already impacting positively on the market as the Naira had sustained gains at the major segments of the foreign exchange market.

He said that as at 4 p.m. on Friday, Travelex had sold 15, 000 dollars each to no fewer than 1,000 BDCs and that the sale was ongoing, adding that “last week, it sold 10,000 dollars each to about 850 BDCs.

“Any BDCs selling above N356 to a dollar is an infraction on our agreement and should be reported to the association or law enforcement agents for appropriate sanctions.’’

Gwadabe said that to ensure transparency in dollar sales, ABCON had advised their customers to ensure that the rate at which they bought foreign exchange was stamped on their travelling document.

NAN reports that since the resumption in the sale of foreign currencies by Travelex, a licensed International Money Transfer Organisation (IMTO), the naira had been on a path of recovery.

The currency had been appreciating at the three major segments of the foreign exchange market, a development that has raised the hope of many Nigerians.

http://www.vanguardngr.com/2016/10/selling-dollar-n356-parallel-market-illegal-gwadabe/
APC is a disgrace to the diaspora, I regret casting my vote for them. We now know sanely that Jonathan is far better than the sitting tyrant
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by t2luv1: 6:47pm On Oct 08, 2016
tonio2wo:
When banks charge above 400?
This man is loco.


Very Very loco. How did he manage to be head of cBN. The man is clueless,
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Efewestern: 5:04am On Oct 11, 2016
osusu:

ok, my contact is in my siggy, holla @ me so we can talk beta

hello sorry I didn't Reply u earlier.. Am expecting expecting some money this week.. thou its small let's say 50$ .. I can sell it to you for 350naira per dollar .
please PayPal only
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by osusu(m): 7:42am On Oct 11, 2016
Efewestern:


hello sorry I didn't Reply u earlier.. Am expecting expecting some money this week.. thou its small let's say 50$ .. I can sell it to you for 350naira per dollar .
please PayPal only
ur contact pls
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Efewestern: 3:44pm On Oct 11, 2016
osusu:
ur contact pls
Done boss.. Skrilll
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by osusu(m): 4:09pm On Oct 11, 2016
Efewestern:

Done boss.. Skrilll
ok

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