aribisala0:
How did you find out about this agreement? Is it a secret?

How's it a secret? It is common knowledge.

It is a normal trade agreement when airlines get air routes and agreed schedules. It is also not limited to airlines. If an investor brings in dollars to Nigeria and agrees to exchange with the CBN at the CBN official rates to get naira, he gets a certificate of capital importation which allows him to get back dollars (at official rate) when it is time to get back their returns. One of the problems of the economy started when the CBN reneged on this agreement. Consequently, FDI and foreign portfolio investment dropped as investors were not sure they would be able to repatriate their profits.

In summary, when investors and foreign businesses do business based on the cbn exchange rate, the CBN guarantees that when it is time to repatriate revenues and profits, it would also be done at the official rate. Fly by the night foreign investors like these Chinese loan sharks, on the other hand, exchange their foreign currency at black market rates. So when they want to send their money back, they don't go through CBN.

Basher8583:


So in your own school of economics repatriation of money out of the country is an investment.

The money being repatriated is post-tax. The government has already taken its tax. Employment opportunities have already been created. If you do not allow repatriation of profits, then don't expect inflow of foreign capital.

einsteine:


How's it a secret? It is common knowledge.

It is a normal trade agreement when airlines get air routes and agreed schedules. It is also not limited to airlines. If an investor brings in dollars to Nigeria and agrees to exchange with the CBN at the CBN official rates to get naira, he gets a certificate of capital importation which allows him to get back dollars (at official rate) when it is time to get back their returns. One of the problems of the economy started when the CBN reneged on this agreement. Consequently, FDI and foreign portfolio investment dropped as investors were not sure they would be able to repatriate their profits.

In summary, when investors and foreign businesses do business based on the cbn exchange rate, the CBN guarantees that when it is time to repatriate revenues and profits, it would also be done at the official rate. Fly by the night foreign investors like these Chinese loan sharks, on the other hand, exchange their foreign currency at black market rates. So when they want to send their money back, they don't go through CBN.

It is not common knowledge AT ALL. You made it up
Simple question you are telling stories What is the source of your claim . You are just making up stories.

Is there a specific agreement between Emirates and the CBN ? Where is it. Everything you are saying is just assumption not fact
You say the "CBN GUARANTEES" Do you have any evidence for this or is this something you want to believe?

aribisala0:

It is not common knowledge AT ALL. You made it up
Simple question you are telling stories What is the source of your claim . You are just making up stories.

Is there a specific agreement between Emirates and the CBN ? Where is it. Everything you are saying is just assumption not fact
You say the "CBN GUARANTEES" Do you have any evidence for this or is this something you want to believe?

I am going to ignore your ignorance.

Ewu.

einsteine:


I am going to ignore your ignorance.

Ewu.

I am ignorant yes so please enlighten me? Share with us some evidence for your claim so I can genuinely say I learnt something today. No need for abuse unless you are not sure of what you are saying
I do not know of any CBN guarantee .You say there is .Please share a source or evidence

aribisala0:

It is not common knowledge AT ALL. You made it up
Simple question you are telling stories What is the source of your claim . You are just making up stories.

Is there a specific agreement between Emirates and the CBN ? Where is it. Everything you are saying is just assumption not fact
You say the "CBN GUARANTEES" Do you have any evidence for this or is this something you want to believe?

If you are ignorant of something, one would think you would have gone to do a bit of reading about it. You are an economic troglodyte and your opinions on these matters is sautéed in gross ignorance.

And for your information, don't ever mention me again on Nairaland, otherwise you would understand that this is not a faceless forum. You could be in Ojuelegba, Lagos or New Fosse Way, Birmingham and it wouldn't mattter, your face would be revealed.

aribisala0:
I am ignorant yes so please enlighten me? Share with us some evidence for your claim so I can genuinely say I learnt something today. No need for abuse unless you are not sure of what you are saying
I do not know of any CBN guarantee .You say there is .Please share a source or evidence

Go and do your own research.

This is a long running issue.

When Buhari instituted the first set of capital controls in 2015, there were complaints on this.

Why the hell do you think Emirates are ending flights?

einsteine:


Go and do your own research.

This is a long running issue.

When Buhari instituted the first set of capital controls in 2015, there were complaints on this.

Why the hell do you think Emirates are ending flights?

Shut up

aribisala0:
You are empty and brainless. A borderline blockhead

You are not borderline.

Your idiocy is firmly established.

If you were to jump from the height of your stupidity to the depth of your ineptitude, you would die.

Moronic dotard.

Joshmoore:



Okay sir, thank you. I am always Obidient to learn

Good for you

casualobserver:


The problem with the internet is that it gives a platform to ignoramuses to talk nonsense and mislead others. I see the number of likes your dumb post gathered and “blind leading the blind” comes to mind…not even one eyed man!!!

There is a difference between excess crude account and Oil reserves. Oil reserves is measured in barrels of Oil!!!

Illiterates!!!!!!

Lol.

Contextually, he passed the intended message across. Not sure why you're almost throwing a fit?

Even if you wanted to correct them you can do it with a bit more decorum?

I'm inclined to say I see an uncivilised person here. And it ain't the other guy.

Really

einsteine:


The money being repatriated is post-tax. The government has already taken its tax. Employment opportunities have already been created. If you do not allow repatriation of profits, then don't expect inflow of foreign capital.

And where is your evidence that the government has taken their tax.
Asumptions up and down You don't even know what has transpired between both parties and you are making baseless assumptions on behalf of a country that isn't yours.

You well so?

franciskaine:
repatriation of money is a global phenomenon so far the money is legitimate. you want FDI inflows but abhors outflows. Make your business environment favourable and investors will prefer to expand domestically than repatriate funds. What a business owes you is Tax and employment of domestic labour. If the environment is good enough dey will expand their proceeds in-house.

You do not speak on behalf of entities that you don't understand what agreement they have with each other.

My concern is taking sides with a country that isn't yours.

What's the objective of such baseless wailing

Nothing good has been coming out of this country...

We citizens are just faking it with fancy cloths and thos oppurtuned to live a life or forgery,ponzi,scmming and prostitution...

The whole country is finished.

Blessings in disguise......................me wey never travel via air before..........
This one Na for UNA.

Basher8583:


And where is your evidence that the government has taken their tax.
Asumptions up and down You don't even know what has transpired between both parties and you are making baseless assumptions on behalf of a country that isn't yours.

You well so?

I am not responsible for your ignorance.

Pretty sure you have never flown anywhere before if not you would know the taxes are collected at the same time you pay your air fare.

Ignorant people everywhere

einsteine:


I am not responsible for your ignorance.

Pretty sure you have never flown anywhere before if not you would know the taxes are collected at the same time you pay your air fare.

Ignorant people everywhere

It appears you don't know who Baher8583 is.
Check all my posts and point to me where ignorance exist.

And trust me you couldn't have traveled more than me.
The crux here is that you shouldn't just type because you desire to say negative things about your country.

Talking of ignorance, Your post reeks strongly of it.

einsteine:


I am not responsible for your ignorance.

Pretty sure you have never flown anywhere before if not you would know the taxes are collected at the same time you pay your air fare.

Ignorant people everywhere

It appears you dont know who Baher8583 is.
Check all my posts and point to me where ignorance exist.

And trust me you couldn't have traveled more than me.
The crux here is that you shouldnt just type because you desire to say negative things about your country.

Talking of ignorance, Your post reeks strongly of it.

Teewonders:
God w
hy, how do we get here, who cursed Nigeria?

Boss you said your mom is from Benin Republic why not run Benin passport package and use that one? Abi how you see am