oluwaseyi0:
Someone should please explain the issue with trap funds

How do funds get trap when operators don't actually send their money to CBN for keeping

The airline tickets are sold in Naira at a rate of N444 to a dollar. The airlines obviously cannot move Naira out of the country, thus they need dollars which CBN has not been making available to them.

Eriggs:
frank obipandora, ur wailing for another 8 years is just about to start. Ur neck go long, no worries.
Dem MANNA talk say. No time for Igbos today.

You never change .
Changing moniker up and down.
This man is a boy.

chygoz3:


The airline tickets are sold in Naira at a rate of N444 to a dollar. The airlines obviously cannot move Naira out of the country, thus they need dollars which CBN has not been making available to them.

Another indirect subsidy?
Or what happened to getting it from other sources like every one else

That means USA is the only country in the world they are not going to have this issue

post=116090618:

Wailers will always wail,
No matter the news.

It's in them just like Peak Milk

Happy Wailing ooo

Brother, you seem to always want to be on the side of government. I wonder why? Honestly brother, these guys both past and present have failed all of us.

See this Omani airport below, it was built with 1.8 billions usd, that’s like less than a month of oil sales here and we have been unable to build a better one in Nigeria but rather we are patching broken tiles at MMI Airport (see photo). Isn’t it a shame?

Please don’t support these crooks. They are really not doing us all well.

Other countries have so left us behind. I feel so sad visiting other countries and they getting better and better every year and we in Nigeria are regressing. It’s sad.

The same oyinbo destroying Nigerian economy, are the ones making away with whats left in Nigerian funds.
They make sure you cant have your own airline, or university etc etc etc , so you have to keep paying them in every direction.
those guys withheld that money cause they know this fact.

They must have borrowed the money used in paying them. The only thing this government knows how to do is borrow borrow.

chygoz3:


The airline tickets are sold in Naira at a rate of N444 to a dollar. The airlines obviously cannot move Naira out of the country, thus they need dollars which CBN has not been making available to them.

That means Nigeria needs more national airlines like air peace otherwise this trend of repatriating dollars is not sustainable at all.

So if dem no threaten FG now they won't act?

ivolt:
Dollar will rise again.

Nah. It's already reducing. And I see it dropping down to 670 by Monday. As it has decreased further from 698 to 693 already .

Shame do. Catch Dem

Repartration nonsense. Another very easy way of stealing tax payers funds. Why would a people not get tired of stealing?, and Why did you allow these money to accumulate,?

slimanyd:


Nah. It's already reducing. And I see it dropping down to 670 by Monday. As it has decreased further from 698 to 693 already .

When exactly did it decrease further from 698?
Don't tell me you are predicting a volatile market with 2 weeks ago events.

.

oluwaseyi0:


Another indirect subsidy?
Or what happened to getting it from other sources like every one else

That means USA is the only country in the world they are not going to have this issue

Do you want them to start charging you using other sources rates too?

Where are those morons arguing that there was no agreement by CBN to fund the airline repatriation? Or that it was bad for the airlines to seek to repatriate their revenue?

oluwaseyi0:


Another indirect subsidy?
Or what happened to getting it from other sources like every one else

That means USA is the only country in the world they are not going to have this issue

Because when they charged Nigerians for the service, they didn't charge at black market rates. For example, a 500 usd trip is charged in naira using CBN rates. If the revenue is to be repatriated, the naira must be exchanged at CBN rates otherwise the airlines will run at massive loss and would have to start asking travellers to pay in dollars

So why announcing it like it's one big deal

This is a mess up that if we have a working system should have booted out some folks, but here we reward mediocrity.

Eriggs:
frank obipandora, ur wailing for another 8 years is just about to start. Ur neck go long, no worries.
Dem MANNA talk say. No time for Igbos today.

And your suffering for another 8 years is about to continue,so jokes on you

ivolt:
Dollar will rise again.

Not related, may even cause dollar to fall.

Foreign Airlines that sold tickets in Naira approached CBN to exchange their Naira to dollar at official rate, so they can repatriate their profit back home to put back into the business, which is normal for any business out there.

Because of dollar scarcity and wanting to still shore-up her dollar reserves, CBN tactical say No by delaying the FX orders.

This delay have a pressure on the black market dollar rates, because Airlines who are under pressure goes through third parties and the black market to repatriate some money, thereby causing increase in dollar price.

With this release by CBN, those pressure on the black market attributed to these Airlines will reduce thereby likely reducing the price of dollar.

Eriggs:
frank obipandora, ur wailing for another 8 years is just about to start. Ur neck go long, no worries.
Dem MANNA talk say. No time for Igbos today.

Abeg go buy bread first … see if market woman go care about ur political affiliation. Diesel seller no care

einsteine:
Where are those morons arguing that there was no agreement by CBN to fund the airline repatriation? Or that it was bad for the airlines to seek to repatriate their revenue?

U dey mind minion zombie followers. British Airways threatened to pull out.. Emirates pulled out and their Nigerian workers, contractors, vendors were all left koboless. .. When commentators were on the side of govt, you know why we have this unresponsive govt.

ivolt:
Dollar will rise again.

Who is your teacher?

linearity:


Not related, may even cause dollar to fall.

Foreign Airlines that sold tickets in Naira approached CBN to exchange their Naira to dollar at official rate, so they can repatriate their profit back home to put back into the business, which is normal for any business out there.

Because of dollar scarcity and wanting to still shore-up her dollar reserves, CBN tactical say No by delaying the FX orders.

This delay have a pressure on the black market dollar rates, because Airlines who are under pressure goes through third parties and the black market to repatriate some money, thereby causing increase in dollar price.

With this release by CBN, those pressure on the black market attributed to these Airlines will reduce thereby likely reducing the price of dollar.

U no fit school zombie followers who have procured no intl passport. Govt is always the victim in their jaundiced mentality.

You will see people with zero knowledge blaming the government, lets be honest for dat kind amount to leave the country once it will affect the economy, but people the governments is fighting for are busy laying abuses. You want nigeria to America and dubai but you cant pay tax like dem

post=116090618:

Wailers will always wail,
No matter the news.

It's in them just like Peak Milk

Happy Wailing ooo

Adult Kid who's wailing?
You better go get a useful lyf..
You think you actually have a worthy life in this miserable situation..

Sorry to say, what you have is a borrowed one.

You better change for a good life.

jaxxy:
After Emirates threatened them. lol

More like British airways. Niger politicians and london are like amala and ewedu

Harryj12:
You will see people with zero knowledge blaming the government, lets be honest for dat kind amount to leave the country once it will affect the economy, but people the governments is fighting for are busy laying abuses. You want nigeria to America and dubai but you cant pay tax like dem

When ur president travels abroad seeking for foreign investment, expect repatriation of funds.

Harryj12:
You will see people with zero knowledge blaming the government, lets be honest for dat kind amount to leave the country once it will affect the economy, but people the governments is fighting for are busy laying abuses. You want nigeria to America and dubai but you cant pay tax like dem

You have zero knowledge of economics and govt. govt signed this rate and repatriation agreement with airlines.
This accumulation happened over more than 2 yrs.. if govt had settled this every 3-6 months, there wont be much cry.

what does the central bank do other than hoarding printed noted

nedu666:


When ur president travels abroad seeking for foreign investment, expect repatriation of funds.

Also, when president, aides, ministers, senators and reps travel outside Naija.. they get exchange naira at govt rate … and they also get paid in $$ usd in travel allowances.. why cant airlines be allowed to repatriate funds since they’re charging Nigerians at govt rate?

CBN is mad! They always have to wait for consequence of their inactions before they choose to act. Dumb leaders, never planning or being proactive in their life.

post=116090618:

Wailers will always wail,
No matter the news.

It's in them just like Peak Milk

Happy Wailing ooo

Karma will catch up with u and your generation