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Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN (28273 Views)

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Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by tommy589(m): 3:33pm On Sep 11, 2023
Ok
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by sotall(m): 3:33pm On Sep 11, 2023
Who is gonna provide cheao dollars
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by kuntash: 3:33pm On Sep 11, 2023
beta247:
This call for celebration 🥳🎉

bros no vex, pls can you interprete what they meant, I no understand am
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Heffalump(m): 3:33pm On Sep 11, 2023
How would this crash the exchange rate now?
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Finestgurlie(f): 3:34pm On Sep 11, 2023
inoki247:
Shey una rate good sha ....



You already av Send app why u jus dey duplicate una service up nd down....
dem wan get unnecessary grant.
na Thubv government naaa
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by EPOMA(m): 3:36pm On Sep 11, 2023
iammo:
cool



When you have a Financial expert like Tinubu running the Affiars of the Nation

Expect ingenious technogical and financial solutions to our Economic National problem

.

Please do us a favour , go and put your money there

2 Likes

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by bigtt76(f): 3:38pm On Sep 11, 2023
cheesy ...that was to test the waters, this now is the real deal grin


inoki247:
Shey una rate good sha ....



You already av Send app why u jus dey duplicate una service up nd down....
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Yankee101: 3:38pm On Sep 11, 2023
There’s FX everywhere
The exchange rate Tinubu crashed overnight is the problem
People schooling abroad with naira just had their tuition and expenses doubled

3 Likes

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by donbrowser(m): 3:40pm On Sep 11, 2023
This literally means we'll have 3 rates going forward:

CBN rate
Swap rate
BDC rate

Swap will be the official black market rate which the government will use to checkmate and control the BDC since Banks are sabotaging the official trading platform. Swap's rate will also have enough virtual dollars that will bring the rate very close to the official rate.

This is a game. Let's see how it goes cool

7 Likes

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Majesty7: 3:41pm On Sep 11, 2023
nlfpmod:


https://techcabal.com/2023/09/11/flutterwave-swap/

At official or parallel market rate? If at parallel, it is not worth it cos it will also comes with charges.
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Lantosed: 3:45pm On Sep 11, 2023
Highly commendable move from the CBN and all the parties involved. This will help the CBN to regulate FX Market the more
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Mekanus(m): 3:50pm On Sep 11, 2023
This is just like someone having malaria but only treating headache which is the symptom.
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Bluntemperor: 3:51pm On Sep 11, 2023
NuCypher:
This flutterwave fraud of a CEO is still parading himself around in Nigeria? Someone that'd be behind bars in the US like Shrekli or SBF.

You are making an allegation here, now but can you tell us the fraud he has committed and let this Forum gains from your experience?
For he that alleges Must prove!

1 Like

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by bluefilm: 3:55pm On Sep 11, 2023
kuntash:
bros no vex, pls can you interprete what they meant, I no understand am

Even me sef, I no understand anything for dia at all
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by ABCDEOLA: 3:57pm On Sep 11, 2023
Destroyerofyeeb:
Enemies of Yoruba people will wail tire grin
You don't need to answer him
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by BoldBrainz(m): 3:59pm On Sep 11, 2023
Lol.
Shonubi is a clown! Man keeps proferring make-shift policies for a failing currency, as if he doesn't know the actual solutions to shoring up the naira against the crushing dollar.
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Onewazobia(m): 4:01pm On Sep 11, 2023
Akfrenzy:
grin painted graveyard 😜
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by splendid2: 4:05pm On Sep 11, 2023
This smells good
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by DanZyCom: 4:06pm On Sep 11, 2023
Good move.

1 Share

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Akposkiz: 4:08pm On Sep 11, 2023
Great one
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Menclothing: 4:09pm On Sep 11, 2023
Let’s use other currencies

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by musicwriter(m): 4:09pm On Sep 11, 2023
Flutterwave already offer virtual Naira account to convert Dollar to Naira instantly at a relatively good rate.
If not for corruption, all they need do is add Naira to Dollar conversion too. It would more effectively solve the problem. But, no, they want to somehow throw the Nigerian factor in the mix, manipulate things in between to make sure corruption is entertained.

And that Agboola looks to me like a fine gentleman. Why would such a person allow himself to participate in this clear case of corruption?

Wema bank already provide your company with virtual Naira account. So, why can't they provide you virtual dollar account too? Because that's when a REAL unmanned swap would occur.

Things like this really make me sad cause it means there's no hope for Nigeria.

Why can't the banks get this solved, anywhere?

Answer CORRUPTION.

3 Likes 1 Share

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by winterfell007(m): 4:11pm On Sep 11, 2023
This plan could work, I trust Nigeria's fintech unicorn, Flutterwave to provide that solution that would singlehandedly rid the black market of dishonest speculators that have caused our currency so much losses.
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Fearyourcreator: 4:14pm On Sep 11, 2023
amerengues:
Election is over and I would expect any well meaning Nigerian to support the government on the throne.

How ever, this is obviously a cosmetic approach to resuscitation of the economy- it won't last long before the main problem resurface again!

It's better we tackle the problem than giving a transient and ephemeral solution.

What happens to our local production? Exportation? Refinery? Etc
So na three month production exportation and refinery go start... Make una Sha dey calm down... All these things dey take time na... At least make people use the one wey dey ground for now pending when the others ones comes on
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Adgraced: 4:16pm On Sep 11, 2023
Does this mean I can use their SWAP to buy things on foreign sites with my Naira?
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by truthfinder319: 4:20pm On Sep 11, 2023
Good one.

Children of hate, how market?



nlfpmod:


https://techcabal.com/2023/09/11/flutterwave-swap/
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Israel07: 4:21pm On Sep 11, 2023
When they swap do they mean at official rate? I don't think so, wema bank is there to run a franchise by providing them liquidity which flutterwave 'll swap at almost black market rate. This is just business..
Flutterwave CEO isn't even supposed to be anywhere near outside the prison for swindling people of they money.
The Turkish guy n FBS no do reach this guy n they both behind bars. In Nigeria just fraudulently carve out a path for yourself n go legit as a cover n ur in a safe haven. People like Patricia and the one that call himself Bitcoin Lord are another set of fraudulent criminals roaming freely here. EFCC don't even know their Job, just a milking machine for the government. It's well. Vanity is sweet but should never be at the expense of your soul.
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Zooposki(f): 4:26pm On Sep 11, 2023
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Mccullum: 4:33pm On Sep 11, 2023
Though Bureau de change some how causing difficulty on monitoring and control of FX. I strongly thought that it's needed for a well standard financial institution to be licensed and engaged for the FX services.

I hope this can help to stabilize Naira but it can be seen as a part of the problem while exportation economy will do more better than this for Naira.

Gradually, Nigeria will be great again.
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Basicend: 4:42pm On Sep 11, 2023
NuCypher:
This flutterwave fraud of a CEO is still parading himself around in Nigeria? Someone that'd be behind bars in the US like Shrekli or SBF.

Lol. . I tell you. .

Even the funny Wema Bank that said we can use up to $500 dollars on naira.has failed.to.meet up to its words for the past 2 weeks. . That service has not been working.

If you have a card transaction issue, you will to send mail to one funny unit and that one will not.reply you even after 3 days. . During weekends their card resolver unit does not even respond to issues at all. .

Such an inefficient and obsolete bank. . I was so frustrated. .

So their bringing up a new initiative now. . Lol. .
.
Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Adebayolove(m): 4:43pm On Sep 11, 2023
Hmmm. Rate Na Die oo

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by seborrhic: 4:45pm On Sep 11, 2023
nlfpmod:


https://techcabal.com/2023/09/11/flutterwave-swap/
Sometimes you just believe that someone holding a top ranking position has more than average grasp of the subject matter.
Alas,you come to ask yourself if you are reading or listening to an expert in an institution or another glorified importer-exporter of tokunboh cars or okrika goods.
So according to this acting governor, it's the non availability of dollar or pounds cash that is the reason for the daily depreciation of the naira(about 70% in just 3months!).
Once there is no need to be using dollar cash again,the naira will rebound and be as strong as before!!
If I didn't read this myself,I would have concluded this statement was made by a primary school drop out,not a CBN governor.

2 Likes

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