OlujobaSamuel:
Better, we are getting there

The same politicians will go to the banks and buy the dollars.

How many Nigerians can get access to dollar from the bank. They will frustrate the person with only option to aboki.
If the government can service everyone that comes to the bank then no need to buy from aboki

nairalanda1:


We should stop.corruption, but it won't improve our dollar supply.

Are not getting the point, the politicians are buying up the little forex we have in the country.

Macphenson:
Nnaaa mehn, I thought Tinubu is a master strategist, I never knew he is a trial and error strategist.

On this issue of dollars scarcity, stop corruption and looting by our politicians and civil servants and trust me we will have enough dollars in circulation.

When they loot in Naira, they use their loots and by up the dollars in circulation and store in either their bank accounts, or their vaults at homes.

Most of these estates in high brow areas in Lagos and Abuja with tight securities have so many vaults in them.

Spot on. But peiple like 2Radii with low reasoning capacity do not have enough brain power to realize that the majority of dollar scarcity and hoarding is done by our politicians. The other day Edu was seen sharing dollars to her staff in the office. Yet daft people blinded by tribalism if sentiments won’t remember things like these. It is the poor man with small 10$ or 100$ in his bank they will focus on.

With this policy, can withdraw dollar send to my account into any dom account?

Tinubu and trial and error

Why will I go to bank to receive useless rate when my person can do btc and I cash out even if it's naira on good rates

Meaning less and less people would be bringing forex to banks

mycar:
How then will BDC can get in flow?

Temporarily eliminating middle men.

Namaster:
Tinubu and Cardoso have made another HUGE mistake.

Fools are tightening the noise around banks receiving Forex inflow when there are LITERALLY tons of other ways to receive your money.

No one will use banks to receive money with their nonsense exchange rates when there are better options out there.

Cardoso is a prime example of an extremely inspired idiot.

Imagine creating more hurdles for receiving Forex when the country is already groaning about NOT receiving any Forex in the first place.

That's like pouring MORE water on a drowning man.

Tinubu has no idea what to do with Nigeria. He's too proud and too nepotistic to get people who can help him out of the mess he's created.

Seriously. Isn't this obviously dumb? Or are they going to shut down all other means of recieving USD aside banks?

The policy should be made absolute for every transaction within the country; even at embassy

Nigeria is truly truly broke, no cap
All the people in buhari and tinubu’s admin should be made to vomit what they stole
From local govt to the federal level

Namaster:
Tinubu and Cardoso have made another HUGE mistake.

Fools are tightening the noise around banks receiving Forex inflow when there are LITERALLY tons of other ways to receive your money.

No one will use banks to receive money with their nonsense exchange rates when there are better options out there.

Cardoso is a prime example of an extremely inspired idiot.

Imagine creating more hurdles for receiving Forex when the country is already groaning about NOT receiving any Forex in the first place.

That's like pouring MORE water on a drowning man.

Tinubu has no idea what to do with Nigeria. He's too proud and too nepotistic to get people who can help him out of the mess he's created.

Lets even assume Tinubu does not have an idea, whats the whole essence of having a team, is it not to brainstorm

I don't think these people are clueless, they know the sources of the problem ... but are not just ready to fix things for selfish reasons

Solving Nig. problem means stepping on toes,
of what impact is domiciliary accounts in a Naira economy but govt won"t stop it cos they are culprits tew, leaving domiciliary account and regulating Fx transfer is of little or no impact

AntiChristian:
I see many abusing the government without just one solution to the imbroglio we find ourselves in.

There's actually no solution that we Nigerians won't find a way to bridge!

Nigeria go better!
May Allah guide our leaders and us the led!

tinubu is supposed to be the first class master strategist here, why is he now confused

People would rather be using btc and getting it at #1500 than sending to worthless banks that would be giving you 1000

Another home goal for tinubu

jmoore:
Can't the government be sued for this?
Person send dollar, you are forcefully converting it to naira at your own rate, not the rate of the receiver.

Legal robbery!

The clueless people that brought this idea will end up pushing many people to other platforms that can't be captured officially.

The government should grab the bull by the horns and declare the black market illegal and put jail term penalty there...both seller and buyer....shikena

Macphenson:


Are not getting the point, the politicians are buying up the little forex we have in the country.

The problem is, we have limited dollars because we are not earning enough in dollars.

Twelve years ago, when the oil price was above 120 dollars a barrel, weren't the same corrupt politicans buying up our dollars and sending abroad? Yes, but it did not bother people much because at the end, we were earning a lot of dollars for anyone to bother about remittances.

Not now, when oil price crashes betweeen 2014-21 , and the resulting debt have eaten a lot of our earnings that the government is targetting remittances.

The problem has and always has been 1) Nigeria not running a diversified economy 2) Polices like subsidies on power and petrol discouraging investment in such sectors. Result, we don't earn enough, we go into debt, the debt eats our earnings...wahala results.

PLus the hoarding of dollars is also done by 'ordinary nigerians' too, worsening the issue.

BY all means, government should target corrupt politicans earnings and their investing abroad. But at the end of the day, it still does not solve the underlying problem. Nigeria is not earning enough. NIgeria is not earning enough. And that is how our government is failing us.

OmoOshodi:
The government should grab the bull by the horns and declare the black market illegal and put jail term penalty there...both seller and buyer....shikena

Una go open mouth waaaa.

Great!!!

Namaster:
Tinubu and Cardoso have made another HUGE mistake.

Fools are tightening the noise around banks receiving Forex inflow when there are LITERALLY tons of other ways to receive your money.

No one will use banks to receive money with their nonsense exchange rates when there are better options out there.

Cardoso is a prime example of an extremely inspired idiot.

Imagine creating more hurdles for receiving Forex when the country is already groaning about NOT receiving any Forex in the first place.

That's like pouring MORE water on a drowning man.

Tinubu has no idea what to do with Nigeria. He's too proud and too nepotistic to get people who can help him out of the mess he's created.

I have not used my domiciliary account for more than 5 years now... yet I have been receiving dollars and pounds payment every month. they are wasting their time.

I think this is utterly risible . They want to enforce the overlord status of banks , who are already guilty of hoarding the forex and selling it to BDC guys?
How many genuine business men and Nigerians in general can approach banks ,to get forex ,much more at "official rates" ? Wouldn't the banks direct us to the BDC's to get already determined forex?

Who will go after banks and BDCs to break up their unholy alliance?

Truth is , we have reached the point of no - return. The naira will only get stronger if we increase our oil and non oil exports, and the government ceases float and starts defending again. Anything other than this,is a continuous downward spiral.

Wow .no bebl small thing

They should also allow us to pay in Naira for international transactions through banks.

I hope it works but honestly it's a tried and failed approach.

People will find new ways to ferry in dollars and they'll become the cash-out merchants of a new market force.

Namaster:
Tinubu and Cardoso have made another HUGE mistake.

Fools are tightening the noise around banks receiving Forex inflow when there are LITERALLY tons of other ways to receive your money.

No one will use banks to receive money with their nonsense exchange rates when there are better options out there.

Cardoso is a prime example of an extremely inspired idiot.

Imagine creating more hurdles for receiving Forex when the country is already groaning about NOT receiving any Forex in the first place.

That's like pouring MORE water on a drowning man.

Tinubu has no idea what to do with Nigeria. He's too proud and too nepotistic to get people who can help him out of the mess he's created.

Brilliant take.

jmoore:

Una go open mouth waaaa.

what about you thinking with your anu$.....it happened in South Africa and heaven did not fall......go to southy and ask of black market and see crazee

This is a welcome development

OlujobaSamuel:
Better, we are getting there

You are not getting anywhere. You will see as it will back fire. People will stop sending dollar home. They will do the exchange from there.

Namaster:
Tinubu and Cardoso have made another HUGE mistake.

Fools are tightening the noise around banks receiving Forex inflow when there are LITERALLY tons of other ways to receive your money.

No one will use banks to receive money with their nonsense exchange rates when there are better options out there.

Cardoso is a prime example of an extremely inspired idiot.

Imagine creating more hurdles for receiving Forex when the country is already groaning about NOT receiving any Forex in the first place.

That's like pouring MORE water on a drowning man.

Tinubu has no idea what to do with Nigeria. He's too proud and too nepotistic to get people who can help him out of the mess he's created.

you're just pained cuz,you've been bursted.

AntiChristian:
I see many abusing the government without just one solution to the imbroglio we find ourselves in.

There's actually no solution that we Nigerians won't find a way to bridge!

Nigeria go better!
May Allah guide our leaders and us the led!

Do you know that ministers, senators governor's and even the president and his vice are paid in dollars and not naira. They should stop recieving their allowance/ salaries in dollars and use the foreign currency we gain from foreign exchange to diversify our economy and boost local production.
The government officials are the ones hoarding this money and the ordinary citizens will be the ones to suffer.😡

Ibrahimcoomasie:
Access, GTB, UBA, Zenith Others To Pay Customers Money Sent From Abroad in Naira, Give Exchange Rate



https://www.legit.ng/business-economy/money/1577735-come-passport-nigerian-bank-announces-internation-money-transfer-operation/

Government against her citizens... Crypto dey na. Tinubu no go chop my 1 kobo

ruggedtimi:
the bank rate is high too..on same level with blackmarket

Lol. Most of them know nothing. Lmaoo

It's a wonderful move. They are creating demand for the naira.

JayPeeOham:


Same Nigerians knew this from the day 1!

The only thing Tinubu had in mind was to fulfil his lifelong ambition of being the GCFR and to receive lifetime title as a dormer president nothing more!

Now that he has achieved that, Nigeria can burn for all he care!

Any sane Nigerian who thinks we have a president must have his/her head check for insanity

I wish any of your generation could be bold enough to contest for your state's gubernatorial elections

occfx:


Government against her citizens... Crypto dey na. Tinubu no go chop my 1 kobo

Usdt rate, bank rate, and black market rate are almost the same. Rest. Lol

What happens to those who want to make payment in USD?

ivolt:
May be counterproductive in the long run unless the official and parallel rates
is stabilised.

Oyel dey your head!