The biggest problem and they fund terrorists too

Hmm

L

CBN is finally woken up.

If all these can bring the naira to 200 a dollar pere, then it's a welcome idea.

Hmmm

Dollar rates will definitely drop next week.
Speculators that bought last week for hoarding and future re-sell might be worst hit unless they use the funds to fund their personal needs.

The CBN must understand they created a racketeering industry from the shortages of FOREX. As a result a lot of companies and individuals are racking in huge profits.

Whether there is a centralized currency exchange board such as abokifx or not, it would not stop the devaluation of the naira if there is scarcity of FOREX.

If abokiFX is guilty of currency exchange manipulation, then they should face the law. Was just wondering how, CBN suddenly realized this. Are they not supposed to be the police of money market or they were sleeping on the wheel?

/
Of course currency speculators affect exchange rates but their effects are limited and short term. It takes good monetary cum fiscal policies to stabilize the naira which are both nonexistent in this confused Buhari’s regime. How come Buhari’s 2015-2023 regime is correctly mimicking his 1984 regime? Don’t blame Buhari, blame the idiotas that witnessed his regime in 1984 and were able to convince all the mouthbreathing morons that voted him back into power.
/

ENGINEERG:
PROBLEMS OF THIS DOLLAR TO NAIRA are:
-Incompetent politicians ruling Nigeria that destroy the economy.

-Bad leadership of CBN that are lost with ideas. They keep doing different policies and non is working. And I don't know why they can't sanction Banks too who are using parralelll rate to determine their bank rate, when official rate is constant.

-Greedy BDC/speculators/ Abokifx that are making millions of naira every day, just to get dollar at a good rate, hoard it, and create scarcity, then increase the value. And make aboki to publish it, then all Nigeria use it as new rate.

SOLUTION TO THIS DOLLAR TO NAIRA are:
- Let any registered business owner be able to get Dollar from any Bank, so parallel market won't have much effect again. It can even be certain amount per month.

-Let China Yuan be in our foreign reserve, so Nigerians can send yuan to China, bypassing the dollar that is not useful for Nigeria and China. Since 70% of importation is from China.

-CBN should have a functional website that everyone can check, than relying on site like Aboki that can be compromised by speculators for their own gain.

Yuan?
I prefer yen to yuan. Our reserve should be in yen.

AntiBalaka, APCHaram, RevDesm0ndJuju, MagicBishop, ZombieNation have something to say

CBN made a fantastic decision in banning aboki fx....those evil slowpoke were the ones running the market by accepting bribes due to their high network....they decided to become the CBN of the streets being run by criminals and accepting kick backs to manipulate the market... official price is 420...no matter how the scarcity is at the moment, it should not be going towards 150 naira difference

ENGINEERG:
PROBLEMS OF THIS DOLLAR TO NAIRA are:
-Incompetent politicians ruling Nigeria that destroy the economy.

-Bad leadership of CBN that are lost with ideas. They keep doing different policies and non is working. And I don't know why they can't sanction Banks too who are using parralelll rate to determine their bank rate, when official rate is constant.

-Greedy BDC/speculators/ Abokifx that are making millions of naira every day, just to get dollar at a good rate, hoard it, and create scarcity, then increase the value. And make aboki to publish it, then all Nigeria use it as new rate.

SOLUTION TO THIS DOLLAR TO NAIRA are:
- Let any registered business owner be able to get Dollar from any Bank, so parallel market won't have much effect again. It can even be certain amount per month.

-Let China Yuan be in our foreign reserve, so Nigerians can send yuan to China, bypassing the dollar that is not useful for Nigeria and China. Since 70% of importation is from China.

-CBN should have a functional website that everyone can check, than relying on site like Aboki that can be compromised by speculators for their own gain.

Intelligent. Especially the 1st recommendation.
But the second is not the best and may have consequences.

Mikelarteta:
AbokiFx is part of the problem believe me or not but that’s the truth.

How? I have not understood how they are the problem yet. Abeg explain for me in simple terms.

signature2012:
An Administration with Social media team but lack economic team is bound to fail…

Well written... so much PR without HQ

MsFaith:
If this will stop the free fall of Naira against other foreign currencies, it is highly appreciated.

Ahn ahn! Every hour increase in the black market price yet the official rate remains constant, aren’t we the ones doing ourselves like this?

If it’s a way to go, let it be biko.

Very laughable

You should also ask why do people use black market even when the rate that is high instead of getting at official rate

ENGINEERG:
PROBLEMS OF THIS DOLLAR TO NAIRA are:
-Incompetent politicians ruling Nigeria that destroy the economy.

-Bad leadership of CBN that are lost with ideas. They keep doing different policies and non is working. And I don't know why they can't sanction Banks too who are using parralelll rate to determine their bank rate, when official rate is constant.

-Greedy BDC/speculators/ Abokifx that are making millions of naira every day, just to get dollar at a good rate, hoard it, and create scarcity, then increase the value. And make aboki to publish it, then all Nigeria use it as new rate.

SOLUTION TO THIS DOLLAR TO NAIRA are:
- Let any registered business owner be able to get Dollar from any Bank, so parallel market won't have much effect again. It can even be certain amount per month.

-Let China Yuan be in our foreign reserve, so Nigerians can send yuan to China, bypassing the dollar that is not useful for Nigeria and China. Since 70% of importation is from China.

-CBN should have a functional website that everyone can check, than relying on site like Aboki that can be compromised by speculators for their own gain.

Please If I am to buy a product online from a foreign website. At what rate am I buying, parallel market rate or official rate?

CBN is just being petty. If you do not want aboki to sell $, start arresting them. How do they still get $ they change. Make it that only banks can give it out. So, why this noise? We know the right thing to do in Nigeria.

AbokiFX has told the governor the truth he needs to hear again which he already knows too. CBN gov is just playing around a game set up by his masters. You know where they are in open markets. You can easily clamp them down. They operate easily there. AbokiFx even told him he asks for the prices in streets. We know the streets. They do it openly. CBN cannot say it doesnt know where they are. So, why the useless noise? Let CBN go after Abokis selling dollars and see if Buhari will not change him next week. But he has the ball to go after the owner of AbokiFx who is from the south. Let him grow balls and go after abokis doing it in the streets. Let him clamp them down. Simple as ABC.

chiedu7:
Just as they gagged the News Media, they have gagged those who report on currency rates,now we wont know how bad things are

Mumu Nigerians cant see this is a plan to simply stop Nijas from knowing that the Naira is in trouble,just like they want the news media to stop reporting terrorist attacks

two different scenarios. Abokifx na part of the wahala gaskiya

Alaigbopress:

Please If I am to buy a product online from a foreign website. At what rate am I buying, parallel market rate or official rate?

Official rate if you have not exceeded your transaction limit and you are using naira account. But the moment you exceed your transaction limit for foreign transactions with naira account, you will not have access to official rate. If you are using a domiciliary account, you can pay any amount with official rate. But you know to get dollars to fund your account is mostly through BDC . That's where the problem will come from.

If you use your Bank ATM it will be from your Bank rate, its different from all banks, Like Gtb is 461/dollar, first bank is like 460...some banks are 450..some are over 470..

Alaigbopress:

Please If I am to buy a product online from a foreign website. At what rate am I buying, parallel market rate or official rate?

All those on the economic team of this present Government are all failures. No good polices at all, prices of commodities are on the high daily and no hope for a better economy.

ewosk:


Very laughable

You should also ask why do people use black market even when the rate that is high instead of getting at official rate

Because its non available to scarce or very limited at the official rate, you cannot walk into a Nigerian bank or CBN office and give them naira and walk out with dollars

Meanwhile people need the dollars to import machinery, raw materials, the phone you are using to type what you are typing was imported using the same dollars,

So semi illiteratee questions like why do people go to the parralel market to source funds you need to avoid asking, we are almost in 2022 please

https://www.youtube.com/watch?v=APFnB7VP_zs

ENGINEERG:
PROBLEMS OF THIS DOLLAR TO NAIRA are:
-Incompetent politicians ruling Nigeria that destroy the economy.

-Bad leadership of CBN that are lost with ideas. They keep doing different policies and non is working. And I don't know why they can't sanction Banks too who are using parralelll rate to determine their bank rate, when official rate is constant.

-Greedy BDC/speculators/ Abokifx that are making millions of naira every day, just to get dollar at a good rate, hoard it, and create scarcity, then increase the value. And make aboki to publish it, then all Nigeria use it as new rate.

SOLUTION TO THIS DOLLAR TO NAIRA are:
- Let any registered business owner be able to get Dollar from any Bank, so parallel market won't have much effect again. It can even be certain amount per month.

-Let China Yuan be in our foreign reserve, so Nigerians can send yuan to China, bypassing the dollar that is not useful for Nigeria and China. Since 70% of importation is from China.

-CBN should have a functional website that everyone can check, than relying on site like Aboki that can be compromised by speculators for their own gain.

You are so very sound, I nominate you for CBN Governor.


This is what we have been screaming but the old fools ruling Nigeria think everything is by using guns and Police

When most of our top politicians including the president engage in medical tourism. Do you know the number of people that have visited Tinubu in UK lately?
They all changed naira to dollar.

I don't even have any issue with ÀbokisFX, that's just like chasing shadows. They're mere speculators. We have them in Sport, foreign Crude sales etc.

The real issue is the Finace Ministryand CBN not knowing what they're doing, and failure of the FG to diversify the economy in ways that it'll impact the economy. This cant happen because even the President never leads by example

hmmn

An Administration with Social press league but poor economic league is handcuffed to refuse…

Good move. At least we go hear word small from those people always shouting you don't know dollar don high abi. The Abokifx na criminal, I don't trust his updated rates.