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Nairaland Forum / Nairaland / General / Business / CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ (19811 Views)
Naira Falls After CBN Stops Forex Sales To BDCs / Naira devaluation: BDCs get dollars at ₦393, sell for N494 / CBN Mandates IFIS To Increase Agent Network To 150,000 By 2020 (2) (3) (4)
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Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by ivandragon: 1:18pm On Feb 28 |
HateBigots: Don't mind the clowns. Always justifying and supporting rubbish. 3 Likes |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by 247man: 1:19pm On Feb 28 |
Wannabenz: Bdc will always sell to abokis |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by jaxxy(m): 1:19pm On Feb 28 |
Dialpad: what government is trying to do is fix the market rate. Meaning the naira isn't floating. What determines these rates government is enforcing we don't know. |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by PlasmaTV: 1:19pm On Feb 28 |
AntiChristian:How much was a dollar to naira when Tinubu entered office?? Stop playing |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by drealcivilceno(m): 1:19pm On Feb 28 |
AntiChristian: Which kine mediocrity be this, oluhunoba ooh! Price is at 1300 and you are celebrating what exactly? |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Shikena(m): 1:22pm On Feb 28 |
In every system you are free to commit crime but don't come and be claiming victimization when the hands of the law grabs you. That's how it works, always know what you signed up for. blackgold2018: |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by aariwa(m): 1:22pm On Feb 28 |
uvie66:exactly, you understand the game very well |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by UHLmoving: 1:25pm On Feb 28 |
1,300 per Dollar is still on the high side. They should continue working on it till it reaches 200 naira per US$ |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Beverlyjean(f): 1:26pm On Feb 28 |
Dialpad: It has always been 20k dols weekly / licence |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by GenFunction: 1:29pm On Feb 28 |
AntiChristian:Why we no go sing anthem wen tings re going bad? pple with same orientation as u are the problem we have at the moment. |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by FatherLord: 1:32pm On Feb 28 |
Can’t we be using our naira card to pay for dollar transactions as we used to do before ? |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by BigIyanga: 1:35pm On Feb 28 |
AntiChristian:Partizan minion. You inherited it @ N650/1$. So it went 1950 =200% in 8 months.. Even if it’s selling at @1450, that’s about 130% increase for trial and error 2 Likes 1 Share |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Biodun556(m): 1:39pm On Feb 28 |
meum: That is the market force. The CBN is right. The market force is based demand and supply CBN knows the amount dollars in circulation and the amount needed by travelers and importers and that is what CBN uses to determine the real value of naira |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by femicyrus(m): 1:41pm On Feb 28 |
JuanDeDios:Then go to the bank. You will fill forms tire. Legit needs for dollar only or else, use Naira for your needs |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Acidosis(m): 1:49pm On Feb 28 |
Dialpad: You're not sure how it will work but you want to pity those who hurriedly bought at 1400-1800? 🤣🤣 2 Likes |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Omoawoke: 1:58pm On Feb 28 |
Only in Nigeria where people create businesses to be making money off their national currency |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Hoelujohn: 1:59pm On Feb 28 |
Dialpad:15k for what? Una get sense at all? Why would you take 15k out to another country? In US self , any money above 10k , you go explain tire. |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Hoelujohn: 2:01pm On Feb 28 |
FatherLord:If you earn in dollars, do you go to the bank to change or u use aboki? So go where u dey change go buy forex |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Obviouslyblunt: 2:04pm On Feb 28 |
Zxcvbnmghtr:I should complain about a policy the government said they’ll initially do and are backtracking from? |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Bfly: 2:05pm On Feb 28 |
Why caused such disaster with naira floating then |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by pharmezee(m): 2:09pm On Feb 28 |
They are adhering to it here at MMIA.. a dollar is N1, 314 presently. 1 Like |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by JuanDeDios: 2:10pm On Feb 28 |
femicyrus:What makes you think the banks have? Or they suddenly started printing dollars overnight and no one told me? Anyway, your answer is why black markets exist - but I doubt you see that. |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by commoditiesnig: 2:11pm On Feb 28 |
Originality007:We have Oman, Jordan and Qatar evisa packages available. See details on my travel topics |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by JuanDeDios: 2:11pm On Feb 28 |
uvie66:You dey mind them. |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by JuanDeDios: 2:14pm On Feb 28 |
emerged01:You're correct - on paper. The fact is, banks will not have enough dollars in the near future, hence BDCs. But if there's full floating and they're both selling at the same or similar rates, the existence of BDCs won't matter and we won't have to adopt Taliban economics by sending armed police to go harass them in their shops. 1 Like |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by femicyrus(m): 2:21pm On Feb 28 |
JuanDeDios:BDC has dollars, banks don't have? Who is more likely to get more dollars from CBN out of the two? Anyway, you can approach CBN directly since your need for dollars exceed that of banks and BDC |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by obaidan: 2:23pm On Feb 28 |
AntiChristian:this government took it from around 750 naira, maybe they sould get it to even 800 at all at all before we hail them |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Besuccesful: 2:23pm On Feb 28 |
When you get to the country you are going sort for dollar there please. ..................... Not possible, these BDC cannot meet the demand of Nigeria based on the $20k weekly by CBN. So if I want to travel and I need $15000, where will I get the cash ? Will aboki sell the entire amount at government approved rate or how will it work. The people I pity most are those that hurriedly purchased between 1400 and 1800 with the hope that it will hit 2500. They didn't consider that the government will fight back. [/quote] |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by onadana: 2:26pm On Feb 28 |
Dialpad: Travel with $15,000 cash?What happens to your card?Check CBN revised guide lines.They are all confused.As if I knew thus madness was coming to a head,transferred my money to card from my dom account and bought dollars when I suspected the price will skyrocket. Imagine buying $500 for N1m. |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by obaidan: 2:28pm On Feb 28 |
Dialpad:Sadly those who bought at that price will still make their huge profit 20k to BDCs is not sufficient, demand outweighs that supply, The shortage of supply will create a black market. Government will criminalize it and that will only make the black market blacker(if you know what I mean). Which means for u to purchase from the black market, u must be ready to pay with ur blood |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Zxcvbnmghtr: 2:29pm On Feb 28 |
Obviouslyblunt: Thank God you are not complaining. |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by JuanDeDios: 2:53pm On Feb 28 |
femicyrus:@bolded. Yes. No today? If you don't know why BDCs always have dollars when the banks don't, I don't think you know a lot about this subject matter. The CBN is not a commercial bank, so you can't approach them - unless you're some powerful politician, and even then, they won't give you directly. |
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