Panda7:

Did you say CBN stopped all banks from receiving dollars? Buying and selling and receiving dollar notes without a mobile app should be an illegal transaction. The high unstable conversion rate are caused by people who buy the dollar notes.

oga if you are a troll and don't understand what am saying don't bother quoting me, yes 2015 you can't do any FX transaction if it's not via transfer either bank transfer or electronic.

Ease of doing business in this country is nonexistent.

To import you need a SONCAP from SON.
With SONCAP, you can apply to bank for FORM.
With FORM M, you can apply to NCS (customs) for PAAR (tax duty you pay to government.)

Now CBN wants to get in on the act, you need a PVR from CBN to apply FORM M.

Every process is a complete mess in this country.

At each stage of this process you need to sort… otherwise OYO

ImDStar:
The illegitimate man must be ousted out.
Illegitimate person cannot birth legitimate government.
That's my own.

keep saying it after 8 years he would leave

Nigeria needs Commodity Board ASAP to stem this tide of inflation

How about form A?

CBN needs to appease our commercial banks. They are number 1 accomplice in this forex.

Disgruntled commercial bankers can give more ‘expos’ to CBN on how to deal with this menace because they aid and abet forex irregularities and help make lists of money too from their services to Abokis and forex speculators.
Many of commercial bank staff ( managers and those who work in FX departments have their own forex arbitrage firms outside normal banking work.

They have staff who work for them in selling foreign currencies made this round-tripping.

This new dimension by CBN may not be, 100%, fool-proof but it would, first of all, destabilize forex speculators and the Abokis and bring down dollar a bit because foreign vendors have to register with CBN.

While they are at this, CBN should think of another hard knock that would hit the ose saboteurs again and knock them of their feet.

It would be good if all diaspora remittances can only be collected in Naira at ruling official rate at the time a receiver is collecting such remittances.

Anybody who needs foreign currencies for importation should either face the CBN or black market.

Government should put lots of incentives in place that would encourage local production and exportation of goods and services from Nigeria. This will deal a permanent blow or forex speculators.

100% with you oh.
Na price of fuel?

driand:


am I the only person here who doesn't understand what that letter said ?

masseratti:
oga if you are a troll and don't understand what am saying don't bother quoting me, yes 2015 you can't do any FX transaction if it's not via transfer either bank transfer or electronic.

what is painment? That CBN didn't let you trade currency notes instead of commodity or hoarding notes because you wants to make profits which makes it run inversely to the naira and detrimental to your countries economics?

Panda7:
what is painment? That CBN didn't let you trade currency notes instead of commodity or hoarding notes because you wants to make profits which makes it run inversely to the naira and detrimental to your countries economics?

abeg wetin this one dey talk? Can someone explain to me in English?