Juniorangel:
Another update from Peter... But why is the FG not focusing on production? cos it will open up a lot of opportunities for Nigerians.

what do you want them to be producing, how do thy source for law materials

Kobicove:
The raid worked and the exchange rates are coming down, that's all that matters to me

wait till market opens on Monday.

OPICANTO2223:
They will still attack you PO. Stop giving them ideas on how to rule Nigeria. Hmmmmmm

Have you any country in the western world been controlled by BDC. You all wake up everyday tarnishing the image if the country

If obi. Contest a million times, he will.never be president of the country.

where is PDP bikonu? na only Peter Obi deh do what opposition party suppose do.

archangel1:
Tomorrow Emiliokans will tell you he doesnt give constructive critiscms and proferring solutions.

And how exactly do the following empty generalities constitute "constructive criticism" and a "solution" to anything?

The only way to shore up the value of our currency is to move the country from consumption to production, especially export-led production, and fight corruption, which allows unproductive money to pursue the available supply of foreign currency.

As long as Nigeria remains an unproductive economy and corruption continues unfettered with people in possession of unproductive excess cash, the value of our currency will continue to depreciate.

It's merely pointing out the obvious to say that the Nigerian economy suffers from low productivity. The real question is how to increase said productivity, not merely pointing out the need to do so, and here Peter Obi has nothing to say on the matter. Not once has Obi offered any concrete policy proposals in this direction, just vague moral posturing.

The same is true of his talk of "fighting corruption". Well, duh! Of course corruption is bad! Of course it needs to be fought! But does Obi offer any substantive proposals as to how to do a better job of that than has been the case in Nigeria for the last 60 years? Of course not! Why are we supposed to treat the man as if he were some sort of prophet for simply stating what anyone with eyes can see?

The ironic thing here is that, like the proverbial broken clock which is right twice a day, Peter Obi is actually correct in his criticism of the EFCC's scapegoating of the BDC. Such actions do nothing to solve the underlying causes of Nigeria's runaway inflation (namely loose monetary policy by the CBN and money-printing by the FG), while undermining investor confidence in the government's respect for markets and the rule of law, driving away the very foreign investment the country so badly needs. The tragedy is that Obi, in his unwillingness (or inability) to do more than offer empty but nice-sounding generalities as "constructive" advice, gives no indication that he would have fared any better at tackling Nigeria's problems if he were at the helm. He is like the proverbial backseat-driver who prattles on as if he were Lewis Hamilton, safe in the knowledge that his inflated self-opinion will never be put to the test.

Gbam
Tell that retarded druggie who has no clue what he's doing

OPICANTO2223:
They will still attack you PO. Stop giving them ideas on how to rule Nigeria. Hmmmmmm

Obi failed to mention those countries in the developed economy where people hawk Forex on the roadside.

It's not your fault bcoz you are profiting from the illegality through your Fidelity Bank.

Obi remain a scam and each time he speaks I see insincerity and deceits in his face.

Just watch as Tinubu continues his reform of BDC.

magoo10:
the cbn is acting more like they are in competition with the bdc operators.
the official rate the cbn peg the dollars is still high and most likely will result to the bdc operators selling higher.

fight corruption holistically
stop wattages by public office holders
stop thieves, politicians who have stored monies in naira from converting them to dollars and re storing them.
be a massive production exporting country .

Massive production exporting country with zero power supply, how will that be possible?

This PO is full of great ideas. Unfortunately, Nigeria behaves like a cursed nation that is in a deep quarrel with good people.

membranus:


Massive production exporting country with zero power supply, how will that be possible?

barth nnaji through his independent power project will be powering industries in aba and it's environs.same can be replicated all over Nigeria
The thing with some of us is laziness and lack of industrious spirit which is what the igbo man have in abundance.

designking:
Currency hawkers or Mallams that sell dollars in some streets and markets are not BDCs.

Their activities is illegal and CBN must clamp down on them to stop their illegal activities.

then how did they source their dollar? did they import it? or print it?

chisomkachy:


Peter Obi

Obi, in your characteristics, you failed to mention one country in developed economy where BDC operators run their economy with their Central Bank.

Mischievous, hypocrite , surreptitious, and pretentious fellow.

Obi the greatest liar. Who doesn't know that BDC operators get their Dollars from Bank Executives and Bank Managers?

Who doesn't know that BDC operators are like Agents of bankers? Obi is a pretentious person. A scammer and a fraudulent person.

Is moving Nigeria from consumption to production a day job/or overnight?

Keep misleading your gullible supporters.

BOOOOM

how else can they easily comprehend it

I think they need to be regulated.

Do you see BDC operators hanging out on the streets in America or UK?

BDC operators should be regulated.

Obi is absolutely correct on this one! With the way it's going, Tinubu may not use more than 4yrs. As for Obi, when he gets into power, can he actually do what he has been saying? Naija politicians talk so much but do so little

Tapout:
Consumption to production....simple.
Today, we still import pure water pack (nylon) from china.

Consumption to production no be by mouth.

With zero power supply nationwide it is impossible.

First solve the power supply inadequacy which is crippling industrial capacities, then the nation will surge forward.

Until then there is no movement from consumption to production, we will still continue to enrich China and Europe buying toothpicks and matches and every consumables. And Peter Obi will still continue to make his money selling them in his supermarkets.

Johnjustice:
I think they need to be regulated.

Do you see BDC operators hanging out on the streets in America or UK?

BDC operators should be regulated.

Ignore Obi, he's a very surreptitious person. He's only entertaining his followers.

Sound advice don land. Oya, microphone licker take note and do the needful.

Wise words.

quote author=magoo10 post=128636838]barth nnaji through his independent power project will be powering industries in aba and it's environs.same can be replicated all over Nigeria
The thing with some of us is laziness and lack of industrious spirit which is what the igbo man have in abundance.[/quote]

Are you now saying Aba is now enjoying 24hrs power supply everyday because of your Igbo man's Barth Nnaji superior intelligence?

You must be dreaming.

We have finally settle for 1600/$ it will never go below 1500. Thank to Tinubu

OPICANTO2223:
They will still attack you PO. Stop giving them ideas on how to rule Nigeria. Hmmmmmm

I swear down. In as much as I'm desperate for solutions and personal rescue the current government doesn't deserve Peter obi's contributions.

Tareq1105:


Ignore Obi, he's a very surreptitious person. He's only entertaining his followers.

Hatred his not your president
BDC are regulated they are not the one fixing the price of dollars Nigeria politicians who hide they dollars are the real problem not BDC or Peter Obi.
His advice he gave Nigeria customs and con has been implemented as if yesterday because they are all confused they are just doing copy and paste .
Watch out next advice he will give they will implement it again.

Johnjustice:
I think they need to be regulated.

Do you see BDC operators hanging out on the streets in America or UK?

BDC operators should be regulated.

I guess USA and Uk are the only countries in the world?
I see
For your information BDC hang around in airport in many countries.

He just want to help as a passionate person.
BDC are regulated they are not the one fixing the price of dollars Nigeria politicians who hide they dollars are the real problem not BDC or Peter Obi.
His advice he gave Nigeria customs and con has been implemented as if yesterday because they are all confused they are just doing copy and paste .
Watch out next advice he will give they will implement it again.

CilicMarin:
Peter Obi know nothing other beer factory.

The naira has been on steady appreciation, since all the reforms and crackdown are going on.

Check the rate this morning.

Why una no dey like reason well? PO just highlighted the fundamental problems bedeviling the country since time immemorial. The very same problem y'all pretend don't exist. We need to look inwards and start addressing issues like corruption, insecurity amongst others. Reason being that any small gains BAT makes will be quickly eliminated by these grossly overlooked problems.

Anthony0094:
then how did they source their dollar? did they import it? or print it?

They get it through some unscrupulous Bank officials involved in round tripping and arbitrage, and through some returnees who arrived from abroad.

Most of the BDC are not registered.

BDC operators are no longer allowed to be hanging around.

They're to:

Get registered,

Recapitalize to #2b,

Get license,

Get a registered office address,

Stay in your office not roaming about,

Wait for customers in your office,

Keep records of your operations for Audit purposes,

Take BVN / Int'l passport Data page / NIN of every customer,

Complete a Request Form where purpose of buying or selling of dollars would be stated,

Pay their dollar or Naira (as the Case may be) into their local bank account or domiciliary account (not cash),

If traveling abroad, you only get $500 cash while balance of BTA for $4,500 would be cashed when you get to your destination.

Registered BDC operators have computerized their operations now (it's in the new CBN regulations),

BDC operations be linked with regular banking operations,

Submit your operation records for CBN inspections twice monthly.

This is what CBN is simply asking for. No reasonable president would sit down and watch his currency being destroyed by speculators.

Operators hanging on the road would be arrested and charged for economic sabotage. If you want to travel, don't stand on the road, enter the motor park.

You may not agree with me but I tell you Peter Obi is not a sincere person.

Where do the mallams get their cash? It must come from a corruption (source). Go after after the source and properly regulate the sector to include the mallams.

OPICANTO2223:
They will still attack you PO. Stop giving them ideas on how to rule Nigeria. Hmmmmmm

who needs a useless thing advice…..someone that can’t save anambra for 8 years abeg make east keep the dirty &bin abeg….Nigeria will be better whether una like am or not….for those wishing bad on this country cox of their candidate didn’t win may they never see the good of the land forever.

Thank you uncle Obi, but regulations and amendments are sole responsibility of the sitting government, so if you have your way you can implement your beer parlour agenda, thanks.

Azazyel:
Obi is absolutely correct on this one! With the way it's going, Tinubu may not use more than 4yrs. As for Obi, when he gets into power, can he actually do what he has been saying? Naija politicians talk so much but do so little

Obi is not correct. He's a very surreptitious and crafty person. Don't allow yourself to be deceived or carried away by consumption to production jingle that would take years of consistent hardwork to achieve.

Tinubu is only trying to get BDC operators organized. There are many touts in this subsector.

70% of them are not registered and they must register to get them accountable. Which country does that?

It's like Agbero standing on the road and wouldn't allow passengers to get to the motor park.

Obi, by this, is a disappointment to himself and his obidients.

Absolutely correct points from PO. Nothing can be truer than that.