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Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion - Business (7) - Nairaland

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Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by NairaMaster1(m): 3:03pm On Oct 03, 2021
Pacesetter123:
grin grin grin grin
I am still wondering why he is bringing up this question at this point in time.
Orr, does he wants to convert the 25k naira into dollars to open a domiciliary account with it?

I taya for that girl ooo.

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Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by grandstar(m): 3:45pm On Oct 03, 2021
The forex market has a supply side problem. The official exchange rate of 412 does not reflect the true value of the Naira hence, supply of it at that rate has dried up. Only the FG, who receives effortless dollars derived from oil revenues can supply at such a low value.

The rate of 485 at the parallel rate before the CBN ended the sale of dollars to the BDC's was a truer reflection of the Naira's value.

Lamido Sanusi said that the differential between the official and parallel market rates must never be more than 3%. At 485,the differential was more than 15%! That was the core of the problem.

To bridge that gap would mean devaluing the currency to about 460 - 470 at the official rate. This, however, isn't feasible as Buhari hates devaluation. So, this has been the bane of the puppet CBN governor who has refused to assert his independence from a president whose understanding of economics borders on the infantile and lamentable.

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Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Limassol(m): 4:28pm On Oct 03, 2021
PENISgod:
Please guys is 25k salary a Month good for a single 20 year old living with his parents?
Depends on where you live and the nature of the job.... But no allow the job pass you o, it's better than being jobless.
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Christistruth00: 5:08pm On Oct 03, 2021
Terrence99:


Obanikoro? Honest living? Don't sound foolish because you want to defend a thief. Are you aware that this boy's father was one of the accused persons in the Dasuki loot matter.


The Obanikoro Family Clan is huge please don’t say what you don’t know
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Terrence99: 5:13pm On Oct 03, 2021
Christistruth00:

The Obanikoro Family Clan is huge please don’t say what you don’t know

Apart from the area called Obanikoro in Lagos, the most prominent member is Musiliu.
So, when I say Obanikoro, you know exactly who I'm referring to.
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Nobody: 5:14pm On Oct 03, 2021
Big confusion everywhere... See me see trouble! In Naira Marley's Voice "Am I a Yahoo Boy?!!!" grin
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Gfskw: 6:27pm On Oct 03, 2021
So why dollar hike
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Christistruth00: 6:30pm On Oct 03, 2021
Terrence99:


Apart from the area called Obanikoro in Lagos, the most prominent member is Musiliu.
So, when I say Obanikoro, you know exactly who I'm referring to.


You mentioned that he was MusiliuObanikoros Son
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by femmy2010(m): 6:57pm On Oct 03, 2021
paskal16:
Emefelie probably pondering on the next action to take

No need for him to ponder ooo.
He should simply makes laws that prohibits you from stockpiling forex in domiciliary accounts for more than 60days after which it would be converted to the local Naira and at the official rate.
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Simdyofficial(f): 8:58pm On Oct 03, 2021
PENISgod:
Please guys is 25k salary a Month good for a single 20 year old living with his parents?
you are staying with your parents and u use this kind of moniker shocked
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Emmanuel909090: 9:50pm On Oct 03, 2021
And some people still dont know the meaning of domiciliary account.
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Nobody: 10:46pm On Oct 03, 2021
Jide is a very lightweight rep both politically and academically

Conversion of $16 billion to Naira will not only be an idiot move - it will further weaken the Naira... If you cannot improve USD earnings and prefer to pilfer private deposits without an ounce of honest effort.. you have basically planted the middle-class and private sector who have kept Nigeria alive into the valley of death.. the next event will be the squandering of $16billion and complete collapse of the Naira.

How do you get USD, you earning it by selling commodities internationally priced in USD and Crude oil was 96% of USD earnings even till date. rather than improve and support local investors with capital to produce what we import, babajide and his dunce moves intends to continue importing with moneys stolen from private depositors
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Nobody: 10:49pm On Oct 03, 2021
femmy2010:


No need for him to ponder ooo.
He should simply makes laws that prohibits you from stockpiling forex in domiciliary accounts for more than 60days after which it would be converted to the local Naira and at the official rate.

Questions for you - "stockpiling" or utilizing as needed, what is the basis for 60 days and is it corporate or individual accounts. we are looking at $16 billion while CBN (Emefilie to be exact) has frittered-away $96+ billion fighting the USD since 2015
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by SavageResponse(m): 6:41am On Oct 04, 2021
dapsoneh:
No wonder those rich people are getting richer

Anyone can open a dom account, you don't have to be rich to do so!
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by SavageResponse(m): 6:44am On Oct 04, 2021
ecomalchemist:
WHERE UNA DEY SEE THIS MoNEY ?

We dey see am for where we dey see am grin
Re: Report: Domiciliary Account Balances In Nigeria Estimated At $16 Billion by Cherez: 7:24am On Oct 04, 2021
AreaFada2:


A serious govt would strengthen institutions and mechanisms to check agaist any official's ability to just move govt money at all let alone keep it for two years unnoticed.

If they can move govt money into dom accounts, they can also move billions into oil sector business, make huge profits and return the money later.

My brother I don tire sef for this country
You're right

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