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FG Outlaws Black Market FOREX Transactions - Business (9) - Nairaland

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EFCC Probes Dangote, BUA, 50 Other Companies Over Forex Transactions / Dollar Hits N600 At Parallel Market, FOREX Supply Shrinks / Forex Transactions On Investors & Exporters Window Hit $7.62bn (2) (3) (4)

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Re: FG Outlaws Black Market FOREX Transactions by ufuosman(m): 1:23pm On Oct 25, 2023
Results that is wot we all need
Re: FG Outlaws Black Market FOREX Transactions by Xxxxtentacion2: 1:35pm On Oct 25, 2023
gabbytabby:
I dont vote i just pray for the ones you lot voted for to succeed.



nigerians always vote in bad leaders.. even if you like pray and fast... nothing good can come out of those bad leaders
Re: FG Outlaws Black Market FOREX Transactions by gabbytabby: 1:45pm On Oct 25, 2023
Majority of Nigerians are bad so where are they going to get the good leaders from. One just continues to pray that we get more and more that want to leave a good legacy.

Xxxxtentacion2:
nigerians always vote in bad leaders.. even if you like pray and fast... nothing good can come out of those bad leaders
Re: FG Outlaws Black Market FOREX Transactions by Xxxxtentacion2: 1:55pm On Oct 25, 2023
gabbytabby:
Majority of Nigerians are bad so where are they going to get the good leaders from. One just continues to pray that we get more and more that want to leave a good legacy.

prayers wont change anything untill we start voting good leaders with plans for our nation not thieves and identity fraudsters
Re: FG Outlaws Black Market FOREX Transactions by Reference(m): 2:14pm On Oct 25, 2023
soccerlite:


You mean everyone should go to bdc to get dollars

Scary

Hmmmm

Where is the BDC getting the dollars the banks and their father the CBN can't.
Solve this quagmire and the mysterious question of the foreign exchange conundrum of forty years is solved.
Re: FG Outlaws Black Market FOREX Transactions by just2endowed: 2:33pm On Oct 25, 2023
Menclothing:
Fx in china and Turkey is Digitalize no hoarding
People are doing round tripping to cash out give should wake up

thats the only advantage of cashless dollar policy.

I think itas the way to go . every egunje will be track as it wont favour government officials at all
Re: FG Outlaws Black Market FOREX Transactions by Jking20(m): 4:56pm On Oct 25, 2023
Ok
Re: FG Outlaws Black Market FOREX Transactions by ZaddyJ: 6:31pm On Oct 25, 2023
LikeAking:


No change am o..

Nothing go happen..

I beg make I go change am I dey go buy Korope with am put for higher purchase or put for my personal use dey make money with am grin
Re: FG Outlaws Black Market FOREX Transactions by ZaddyJ: 6:32pm On Oct 25, 2023
BOOKWORMLUX:
Lies and Propaganda as usual

It's just propaganda
Trying to use fundamentals to create fear
I beg let it be o 🙏 that's the only thing I dey enjoy for my loved ones abroad b that o
Re: FG Outlaws Black Market FOREX Transactions by Realist777: 6:34pm On Oct 25, 2023
WhisperedNoise:
Always leaving substance and chasing shadows. Talk, talk, talk...cho cho cho like a parrot. All talk, zero action
Provide us with detailed actions of Obi's 8 years of ruling as governor
Re: FG Outlaws Black Market FOREX Transactions by Calitoscassius(m): 8:13pm On Oct 25, 2023
Yea right, keep dreaming, Naigeria is heading the way of Zimbabwe soon
Re: FG Outlaws Black Market FOREX Transactions by masseratti: 9:18pm On Oct 25, 2023
teepain:


You have a point and what you have recommended is full floating of the Naira. This will stabilize the Naira but it will exchange at about #2000 to about $1 until we start producing sufficiently for our consumption and exportation.


@reference, you are certainly on point the restrictive policy of the CBN to favour a couple of people is not sustainable.
in economics stability of a currency is the key to economic growth, you will be able to plan, failure to plan is road to catastrophe.. Which is where we are heading to right now, once the naira is stabilized.. Government policies, plans will.. Or might come into effect even if the corruption is 50%,but uncertainty on naira.. If it rise any how or dip anyhow under a short period of time..!even if there is zero corruption.. All government plans /policies will fail.. This thing is not rocket science... Float the naira for real even if tomorrow morning it's 100,000 naira to a $, let it be stable..

Now to your other opinion.. Nigeria is not the only "manufacturing production deficient" in the whole world.. In fact 67% of the countries in Europe are also deficient when it comes to production of manufacture, agriculture, mineral resources, but yet none of them have a dichotomy of foreign exchange rate like we do.. It's an abnormally which must stop or else.. All of us PDP, ApC, LP.. Whatever will be poorer... From Dangote down.. If we don't find a solution to this naira swirling down a tunnel... Zimbabwe issue will be a child's play when it dawn on us.

I pray President Tinubu find a solution quickly right now or anybody.. We need help actually. Not loans real help on how to stabilize our currency.
Re: FG Outlaws Black Market FOREX Transactions by teepain: 9:40pm On Oct 25, 2023
masseratti:
in economics stability of a currency is the key to economic growth, you will be able to plan, failure to plan is road to catastrophe.. Which is where we are heading to right now, once the naira is stabilized.. Government policies, plans will.. Or might come into effect even if the corruption is 50%,but uncertainty on naira.. If it rise any how or dip anyhow under a short period of time..!even if there is zero corruption.. All government plans /policies will fail.. This thing is not rocket science... Float the naira for real even if tomorrow morning it's 100,000 naira to a $, let it be stable..

Now to your other opinion.. Nigeria is not the only "manufacturing production deficient" in the whole world.. In fact 67% of the countries in Europe are also deficient when it comes to production of manufacture, agriculture, mineral resources, but yet none of them have a dichotomy of foreign exchange rate like we do.. It's an abnormally which must stop or else.. All of us PDP, ApC, LP.. Whatever will be poorer... From Dangote down.. If we don't find a solution to this naira swirling down a tunnel... Zimbabwe issue will be a child's play when it dawn on us.

I pray President Tinubu find a solution quickly right now or anybody.. We need help actually. Not loans real help on how to stabilize our currency.

I share your sentiment fully and I do agree that we need to fully float the Naira. And talking about my second point, I never spoke about manufacturing. I only inferred that after floating the Naira we need to resume productive activities whether the production of goods or rendering of services. We cannot continue to have a negative balance of trade or payment.
Re: FG Outlaws Black Market FOREX Transactions by very4tune8: 10:58pm On Oct 25, 2023
joseph1832:
Na wa oh. How feasible will this be? Nigerians always seem to have a back door for everything.

You just spoke my mind.

They are applauding this policy now what happens when it does not work.

This was how they were applauding all the other policies and now dollar/pounds have reached the ceiling.

People wen no get sense.
Re: FG Outlaws Black Market FOREX Transactions by very4tune8: 11:06pm On Oct 25, 2023
Hotice085:
.

Shut up ya mouth


As in enh. The guy just dey Yan rubbish.
Re: FG Outlaws Black Market FOREX Transactions by very4tune8: 11:14pm On Oct 25, 2023
emperor863:


Who is Peter obi? How relevant is he in the scheme of things? Has anybody called him out or mention his name in an academic discuss?

Your Agulu clown is not even relevant as things stand today.

Oga face the new policy and leave PO since no one mentioned his name.

So how is it going with your daddy's policy.

Hope it will work.
Re: FG Outlaws Black Market FOREX Transactions by very4tune8: 11:16pm On Oct 25, 2023
TheBillyonaire:


The BDCs are not phased out. Yet the black market profiteers are street muscle of the BDCs. For this to work, BDCs must go.

Ha oga what are you explaining.

Nawa ooo ooo.
Re: FG Outlaws Black Market FOREX Transactions by very4tune8: 11:23pm On Oct 25, 2023
Realist777:

Provide us with detailed actions of Obi's 8 years of ruling as governor

Provide us with detailed actions of Tinubu's years as governor.

Master strategist my bum bum.
Re: FG Outlaws Black Market FOREX Transactions by Swiftgrp: 5:00am On Oct 26, 2023
Re: FG Outlaws Black Market FOREX Transactions by Swiftgrp: 5:00am On Oct 26, 2023
FreeStuffsNG:
13. Expand the official foreign exchange market to incorporate BDCs, forex apps and retail fx dealers, and outlaw transactions in the black market

14. Digitalise Nigeria’s fx regime and discourage speculative demands and hoarding of fx in cash

15. Imposition of excise tax on foreign exchange transactions outside the official market


Great job by Taiwo Oyedele and his team of patriotic Nigerians. These are bold audacious moves by the Asiwaju Tinubu-led Federal Government. This is absolutely brilliant!

Only unpatriotic and greedy people will go buy fx to hoard and they deserve not only to lose their funds but must be prosecuted for economic sabotage as well.

This current FG will not go borrowing money or use hard-earned forex inflow to fight against the overvalued US dollar on the streets. You all will get burnt las las.

Those being deceived to keep hoarding forex will get burnt severely las las.

It's criminal and unpatriotic mindset that will make an otherwise educated person who spends almost 100% of his day to day expenses in naira to still go and hoard forex and crowd out those who genuinely need it. If they don't get burnt, no defence of the naira will deter such unpatriotic elements.Not even EFCC that Mr Emefiele kept sending after them will make them stop.

All the enemies of Nigeria will lose las las. They always lose. God bless Nigeria for ever! Check my signature for free stuffs!
Re: FG Outlaws Black Market FOREX Transactions by Swiftgrp: 5:00am On Oct 26, 2023
FreeStuffsNG:
This is a follow up to this report
FG Moves To Digitise FX Transactions To Punish Naira Speculators
https://www.nairaland.com/7887389/fg-moves-digitise-fx-transactions
Check my signature for free stuffs!
Re: FG Outlaws Black Market FOREX Transactions by crackhouse(m): 6:29am On Oct 26, 2023
All these are propaganda to Nigerian's hope alive in preparation for the supreme Court judgement.. don't be deceived.. they want u to believe nigeria will get better with them in power..
Re: FG Outlaws Black Market FOREX Transactions by joshkke(m): 12:34pm On Oct 26, 2023
Us versus them rhetorics is not quite what we need now. No matter the situation, there must be a United Country for as long that country exists. This is exactly the way Nazism began. Please adjust and talk to everyone as to brothers and sisters, whether erring or deserving


FreeStuffsNG:
13. Expand the official foreign exchange market to incorporate BDCs, forex apps and retail fx dealers, and outlaw transactions in the black market

14. Digitalise Nigeria’s fx regime and discourage speculative demands and hoarding of fx in cash

15. Imposition of excise tax on foreign exchange transactions outside the official market


Great job by Taiwo Oyedele and his team of patriotic Nigerians. These are bold audacious moves by the Asiwaju Tinubu-led Federal Government. This is absolutely brilliant!

Only unpatriotic and greedy people will go buy fx to hoard and they deserve not only to lose their funds but must be prosecuted for economic sabotage as well.

This current FG will not go borrowing money or use hard-earned forex inflow to fight against the overvalued US dollar on the streets. You all will get burnt las las.

Those being deceived to keep hoarding forex will get burnt severely las las.

It's criminal and unpatriotic mindset that will make an otherwise educated person who spends almost 100% of his day to day expenses in naira to still go and hoard forex and crowd out those who genuinely need it. If they don't get burnt, no defence of the naira will deter such unpatriotic elements.Not even EFCC that Mr Emefiele kept sending after them will make them stop.

All the enemies of Nigeria will lose las las. They always lose. God bless Nigeria for ever! Check my signature for free stuffs!
Re: FG Outlaws Black Market FOREX Transactions by Realist777: 2:13pm On Oct 26, 2023
very4tune8:


Provide us with detailed actions of Tinubu's years as governor.

Master strategist my bum bum.
Your nyash or your bum bum?
Re: FG Outlaws Black Market FOREX Transactions by Adolfnigeria: 2:18pm On Oct 26, 2023
@Reference

You have something tho sell, some offers you 1,000 another person offers you 500ngn - who do you seel to ?

Ok this is how the black market gets supply from
Reference:


Where is the BDC getting the dollars the banks and their father the CBN can't.
Solve this quagmire and the mysterious question of the foreign exchange conundrum of forty years is solved.
Re: FG Outlaws Black Market FOREX Transactions by FreeStuffsNG: 4:14am On Oct 28, 2023
NewDea4:


Bunch of criminals

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