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Nairaland Forum / Nairaland / General / Business / CBN Releases $265 Million To Airlines Over Repatriation Challenges (19009 Views)
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Re: CBN Releases $265 Million To Airlines Over Repatriation Challenges by davodyguy: 11:28am On Aug 28, 2022 |
oluwaseyi0:Those airlines have their parent bodies outside of Nigeria They operate here, meaning we pay them in Naira. The billions of Naira in their bank accounts in Nigeria needs to be converted to dollars and sent back to their countries. There dollar scarcity, hence the money remains in Naira. CBN had to release dollars to the banks to exchange for these airlines so their Naira is converted at ₦420 to $1. For instance, BA has ₦20billion Naira in Zenith Bank. They need to convert that money to dollars, but Aboki don't have such dollar volume. Only CBN has, so they give CBN Naira and they get dollars. It's not like someone seized their money 1 Like 1 Share |
Re: CBN Releases $265 Million To Airlines Over Repatriation Challenges by davodyguy: 11:36am On Aug 28, 2022 |
oluwaseyi0:If you're a frequent international traveler, you would say thank you to CBN. Buying ticket at Aboki exchange rate means traveling to Kenya may cost ₦500k. There I&É investors exchange rate different from Aboki exchange rate. This is helping to check inflation 1 Like |
Re: CBN Releases $265 Million To Airlines Over Repatriation Challenges by legionISproteus: 3:24am On Aug 29, 2022 |
ivolt: Reading 4/5 Comprehension 0/5 |
Re: CBN Releases $265 Million To Airlines Over Repatriation Challenges by knowhowk: 4:01am On Aug 29, 2022 |
post=116090566:. When will you stop Mentioning that Statement " Once Battered and Looted Nation " You mean Looting and Battering doesn't exist in this Administration at all ? You mean All the Leaders in this Administration including the Presido ,His Vice,Governor's are Holy Angels with No Single Blemish . Oga If you truly Love this Country as you always Claim..Can you just be Sincere for Once ..Haba! ...Na Waooo. |
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