Tttt

HateBigots:
Dey play... Even banks can't sell at that rate.



Shameless Zombie, hypocrite. What was dollar rate in 2014 before APC protested against Pres. Goodluck? Now you are celebrating N1,314.

Just sharap! Pained loser, this week is better than last week, and that's a good news for lover of Nigeria but for a hater like you that want Nigeria to fail, it is a sad news because your Peter Obi didn't win, keep crying.

Shikena:
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.

smart answer

Hope you guys will also implement it on Custom duties too

Dyfynezz12:
No wonder dollar was 1570 this morning
I hope ppl that increased goods of 15000 to 2500 before will bring it down now that $ has come down

What if they bought those goods when dollar was higher?

Dialpad:
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.

You pity economy saboteurs they will loose because the government is back to fixing rate if you have dollar now sell

They are no more floating it

Jackson105:


Just sharap! Pained loser, this week is better than last week, and that's a good news for lover of Nigeria but for a hater like you that want Nigeria to fail, it is a sad news because your Peter Obi didn't win, keep crying.

if you think this is a good news for Nigeria, you are only deceiving yourself. This is now how to woo foreign investors and foreign businessmen which Nigeria badly need now. Businesses need stability.

CorrectionFLuid:


What if they bought those goods when dollar was higher?

Some of the goods they are selling on a high price was bought when dollar was low,their excuse then was that when they want to restock they will buy at higher price,why don't they use that same logic,now that $ is going down,or does $ only affect the increase in price without touching the reduction?

AntiChristian:
Painful news for those who want Nigeria backwards so as to scorn others!




From N1900 last week to N1314!

You no go here anything but if it was vice versa....casala go don burst!

PO and hin boys go don sing anthem on twitter!

You don't have brain if you think this directive will hold dollar down.
Using gun to replace economic reforms will never work.
Instead looking for better solutions they think they can force the dollar down using brute force and people like you will believe the bu11sh1t

wunmi590:


That's the problem, it won't as most Nigerians are just plain wicked from birth, even a pepper seller will tell you is because of dollar she's selling 2 pieces of tomatoes 🍅 for N200

That's the thing
Nigerians 're greedy but it's easier to point the blame finger at the government.
What many sellers are doing now is just a reflection of our government.

Take for example what many POS ppl did during the cashless policy.
There was a time last week when there was speculation that price of petrol was abt hitting 1k mark,do u know what many filing stations in my place did?they locked their filling station in order to create scarcity of fuel so that they will sell at a very high price,they wanted to close up,allow two or three filling stations to sell ,create a quee, and sell at very high price then once they empty their thanks they will now call their colleagues who sell too to do the same thereby making mad profit and in turn blame the government for hardship.

Honestly Nigerians are greedy and corrupt God didn't curse us with bad leaders no,he did with wicked human beings ,

A large population of us are greedy ,exploitive and corrupt.if the government doesn't regulate price of goods many sellers will sell at 10x the cost price and still turn back to blame government for the price increament.

Dialpad:
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.

Same thing was said when it hit 1k last year.

baby124:

Nobody is forcing BDC’s they don’t have a choice abd that was the spot rate at previous closing. FX is coming down and speculators are in trouble. They will lose money period. You better offload that dollar you are crying about if your losses are piling up.

who said anything? where did you get "forcing" from?

how does what u have said relate to or negate the following?

The government you are supporting woke up and arrogantly said it will float the naira against. This caused a free fall of the naira as never before seen in Nigerias history.

Now the same govt is now trying to force BDCs to sell at it's desired price which is a return to the original regime which it met and which it said was bad.

After destroying livelihoods, what was the essence on embarking on an adventure that was not feasible?

Dyfynezz12:

Some of the goods they are selling on a high price was bought when dollar was low,their excuse then was that when they want to restock they will buy at higher price,why don't they use that same logic,now that $ is going down,or does $ only affect the increase in price without touching the reduction?

Not that fast. It's going to be a gradual slope.

Government can dictate the price of dollar, and it will go into effect immediately. The price of goods will not follow that same instant pattern.

Some people even took loans to stock up their shops and warehouses. Those loans won't pay itself. Tax were also paid on those goods, and the tax is based on the price of the goods at the time of purchase. So relax and be patient.

The government only needs to be consistent and stable. Stability is oxygen to the economy. While instability is it's poison.

As naira floating has come to an end (temporarily I assume), the government shouldn't wake up tomorrow and float it again. They should give it a long time till there's a comfortable level of predictability.

So where is the gain?

Naira Floating stopped and dollar still more expensive than when the floating took effect. Secondly, prices have already gone up...how do we ensure they drop too? This is what happens when someone just wakes up one morning and makes pronouncements that were not well thought out.

Well, we will take it a day at a time. Let it keep coming down for the sake of the masses.

UDOKABESTLUV:


Source: https://tribuneonlineng.com/cbn-mandates-bdcs-to-sell-us-dollars-at-n1314-01-us/

So in essence, no more free float.

Did they complain when they bought at lower dollar rate and hit market at higher rate? That is normal risk of doing any business.

CorrectionFLuid:


What if they bought those goods when dollar was higher?

Dialpad:
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.

What do u need 15000dolls for?
If na for import n it is not under goods that r restricted from assessing Forex, u go to the bank n fill forms

AntiChristian:
Painful news for those who want Nigeria backwards so as to scorn others!




From N1900 last week to N1314!

You no go here anything but if it was vice versa....casala go don burst!

PO and hin boys go don sing anthem on twitter!

lll
For the USDqqqqqq

That is the dreaded Nigerian factor that is always making the outcome of every economic policy defy defined economic logic since Nigeria was formed.

The only factor that definitively impacts Nigerian economy is global oil price. Any other thing, Nigerians will scatter it even if the economy is handled by the inventor of economics.

wunmi590:


That's the problem, it won't as most Nigerians are just plain wicked from birth, even a pepper seller will tell you is because of dollar she's selling 2 pieces of tomatoes 🍅 for N200

Dialpad:
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.

There's no way the dollar won't hit 2,000 by mid year
Nothing will save the Naira

Dyfynezz12:

That's the thing
Nigerians 're greedy but it's easier to point the blame finger at the government.
What many sellers are doing now is just a reflection of our government.

Take for example what many POS ppl did during the cashless policy.
There was a time last week when there was speculation that price of petrol was abt hitting 1k mark,do u know what many filing stations in my place did?they locked their filling station in order to create scarcity of fuel so that they will sell at a very high price,they wanted to close up,allow two or three filling stations to sell ,create a quee, and sell at very high price then once they empty their thanks they will now call their colleagues who sell too to do the same thereby making mad profit and in turn blame the government for hardship.

Honestly Nigerians are greedy and corrupt God didn't curse us with bad leaders no,he did with wicked human beings ,

A large population of us are greedy ,exploitive and corrupt.if the government doesn't regulate price of goods many sellers will sell at 10x the cost price and still turn back to blame government for the price increament.

You are not far from the truth my brother

Shikena:
That is the dreaded Nigerian factor that is always making the outcome of every economic policy defy defined economic logic since Nigeria was formed.

The only factor that definitively impacts Nigerian economy is global oil price. Any other thing, Nigerians will scatter it even if the economy is handled by the inventor of economics.

We are our own enemies, honestly

wunmi590:


I don't see this being visible at all, I still see people them hoarding dollar, and then sell at a higher rate to people who are in desperate needs of more dollar...

I'm not sure this is realistic, most Nigerians are wicked from birth

If they hoard the dollars, that means CBN as the supervisory institution has failed too...

The Max BDCs r to sell to customers is 50dolls, if u need more u go to Ur bank n fill forms....
But to me BDCs should have been disbanded totally, let the banks create a department in their instructions where these trades n exchange take place so it could be duly monitored by CBN

donbrowser:


The floating was necessary to get the real value of Naira since previous governments have been defending the naira. Now that they know the value, the next step is to force it down without spending ridiculous amount of money.

So what do u think is the real value of naira now?

poiZon:

If they hoard the dollars, that means CBN as the supervisory institution has failed too...

The Max BDCs r to sell to customers is 50dolls, if u need more u go to Ur bank n fill forms....
But to me BDCs should have been disbanded totally, let the banks create a department in their instructions where these trades n exchange take place so it could be duly monitored by CBN

Very aptly said, this is one of the best solution...

If the above bolded is done the CBN should also give a close monitoring to the bank, the last time i went to the bank, come and see how they were begging me to change it for me, at a ridiculous exchange rate, until I now went to abomi to change it for a better rate..

So what I'm saying in essence is that once the bank have been given opportunity, they might start misbehaving and also hoard dollar

wunmi590:


Very aptly said, this is one of the best solution...

If the above bolded is done the CBN should also give a close monitoring to the bank, the last time i went to the bank, come and see how they were begging me to change it for me, at a ridiculous exchange rate, until I now went to abomi to change it for a better rate..

So what I'm saying in essence is that once the bank have been given opportunity, they might start misbehaving and also hoard dollar

They won't, do u know that CBN always go on routine monitoring on banks vaults?
Unless BMs n other too dogs in the banks will devise means n ways to hoard the cash outside the bank.

They should have pegged it at 1000 naira months ago. I wonder if prices of things will come down.

How would this affect individuals selling dollars on the black market?
If there is a pent-up demand for the dollar, insufficient supply, and no regulation of these markets, what would this policy effect?

CorrectionFLuid:


What if they bought those goods when dollar was higher?

make use of your brain don't let somebody to do the thinking for you. But it was okay to sell high the goods they bought when the dollar was low abi?

Pity yourself if you think this white powerder sniffing S.O.B have your interest at heart. Naira will continue to depreciate perpetually for obvious reasons.

Dialpad:
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.

AntiChristian:
Painful news for those who want Nigeria backwards so as to scorn others!




From N1900 last week to N1314!

You no go here anything but if it was vice versa....casala go don burst!

PO and hin boys go don sing anthem on twitter!

I wonder if you guys reason from anus , dollar that was 600 plus before Tinubu entered as president and now within a year USD skyrocket to almost 2k per $1 . Yet useless people like you is still blaming PO, I pity you.

Tonytonex:
make use of your brain don't let somebody to do the thinking for you. But it was okay to sell high the goods they bought when the dollar was low abi?

The person I quoted has replied and we've had the conversation, but you just had to showcase your generational IQ deficiency.

Of everyone that quoted this comment, you're the only one that showed signs of madness.