₦airaland Forum

That's our fear now, when all the Naira has been exchanged for dollars, it may happen

adeheritage:
Very soon, Nigeria will adopt the US dollar for domestic transactions

Same as the normal account opening process except you will need to make a deposit to activate it.

Uniquisite:
CBN ARE BS

CAN AVERAGE NIGERIAN PROVIDE THE REQUIREMENT TO OPEN DOC. ACCOUNT IN BANK?

You need to open a domiciliary account in the currencies you want to receive?

Uniquisite:
THE BIG QUESTION IS HOW DO REGULAR BANK ACCOUNT USER GET PAID?

CAN USD BE SENT TO A NORMAL BANK ACCOUNT IN NIGERIA?

I agree with your points absolutely, it would help drive down the exchange rates but it's also dependent on the equilibrium between the foreign reserve and the in flows.

Mind you, the IMTOs are not flying in the forex to be disbursed (it would increase the wait time if the banks have to defend on this) so what they do is get from CBN and fulfill the demands locally at a cost to CBN.

I still don't see the need paying out the dollars locally or even allocating to the BDCs. I don't know of any country that does this though

Rather what the CBN would've done if they wish to allow dollar cash outs, mandate that the cash outs is done through the BDCs (they are the regulated black marketers of our time) who will in turn, either return it back to their bank accounts or sell to businesses.

The money changer out there won't resell at a loss, so where's the gain?

Akainzo:
Except that persons receiving USD would also need to buy things, pay for stuff and generally continue living which is what majority of diaspora remittances are for.

So when the son sends money to the Mum, the Mum cannot afford to keep it under the bed or in a dom accounts as she has to live, buy food, pay rent, transport and pay for medicals. At that point, there would also be more USD looking for avenues to be changed to Naira.

Hopefully, that will drive the exchange rate down. Do not also forget that at this yuletide period, as more diasporas come home, they'd also need to change the USD to Naira to pay for hotels. And if hotels will have lower rates than BDC/Black Market too.

Sure let's hear your views

Miyachi:
I beg to differ with you points.

Exactly but a bad policy.

1. It's recognizing the black market and legit helping to channel forex there.

2. The black market would get saturated at a point in time because no business man or woman would go there to source forex for business and the black marketers would not sell to the banks at the CBN rate

3. Naira in circulation would be mopped up at a point in time resulting in the dollarization of the economy (no one would want tk be paid in naira)

4. At the end of the day, beneficiaries would have no option but to exchange with the banks or hoard in their domiciliary accounts.

Atk1nson:
I think its a good step at bridging dollar scarcity, people can get black market returns on dollars sent, encouraging repatriation.

All the international money transfer operators of which Worldremit one, are mandated by CBN to pay in dollars.

If you want to transfer the oney to the beneficiay's bank account, it has to be a domiciliary account in the currency you are sending. No more automatic conversion into Naira at a pre-determined rate

When the beneficiary withdraws from domiciliary account, s/he can just walk up to a money changer and get dollar to naira at N475 or higher instead of N390 official CBN's rate the banks offers

Atk1nson:
so what happens to the like of worldremit that directly credit a/c in naira?

lalasticlala, pls fp, we need more light on this

Toh what can one do again

EarlyCareer:
English is hard sha...

Bigtt76 has explained already.

- All money sent in dollars will be received in dollars.

- Receivers have to go to the bank to pick up the money which will be paid in dollars to them.

- Money sent will no longer be paid directly into receiver's bank account or wallet. This is temporary.

- this means that once dollars is picked up, you can now change to naira as you wish.

It means your beneficiary can receive the dollar you transferred to them from any of the WU partner banks and go ahead to convert to Naira where ever they so wish. No more conversion into Naira at the partner bank

Nice one and one would've expected them to debrief the children first, take down their names to confirm they're actual students kidnapped or not before all the rubbish

expressglory:
For those who want to see the clothes they were wearing....
Whether you want to hear or not....this is good news for the parents. I dont know why some people are not happy? Haba...this country citizens are somehow oooo

True that ....we ghasto play according to the rules now ...oga Seun abeg lockdown so all man can validate their NIN Rwanda is doing that for Youtube

isthatso:
maybe they should synchronise nairaland moniker with NIN too

e go madt oooo

BluntNigerian:
That one is legit too..
..
At least, the 2,605,119 accounts will drastically reduce to 47,562 true members...

BluntNigerian:
Since them don start to dey do synchronisation, they must to complete am to the end ooo..
Wetin be “North” again for this matter??

You wan disenfranchise the North be dat naaa, even Pantami can't moot that suggestion sef

This whole thing is just smelling revenge.... They be like shei una give government 2 weeks to endsars and wan start second wave protests, we sef de give una 2 weeks to update NIN on mobile numbers

We are on the chess board with the government

BluntNigerian:
They must To Go that area oooo...!!
..
INEC should not be the one to carry last in this synchronisation era, upon say with all their technology.

No go area dat ... If you know, you know

BluntNigerian:
Since we are in the era of synchronisation with the NIN number:
For instance;
BVN synchronised with NIN.
JAMB synchronised with NIN.
FRSC is seeking for the Driving License to be synchronised with NIN.
Now, our phone numbers are undergoing synchronisation with NIN.
What is then holding INEC to also seek for the synchronisation of the VIN (of our Voter's Cards) with the NIN too??

Food for the customs and others at the Seme border post

fergie001:
SOURCE

I agree with you that many delayed this for too long but then the deadline is too steep. You can't update millions of subscribers' NIN on their mobile SIM registration profile within that short period.

Many believe because the NIN is tied to your mobile number that's, all... No you still need to present to the mobile operators your NIN for them to update their record.

The problem here is that the mobile operators do not have a field to accommodate this or verify the number on the gk right now. This is the reason why each time you go to get a new sim from the same operator, you are registered multiple times. With this new method, one registration and subsequent new Sims will be added to your profile.

SilverNorGold:
Nigerian youth are too lazy!... Something that didn't take me up to 10 minutes to do, they are everywhere on social media crying wolf.. Come February 28, 2021, most of them will still not meet the deadline and still call for another extension.

Too bad! Even on this thread, you'll see them accusing the government of "inflicting pains on them".. Very lazy youth! But if it's to watch BBN and vote for their favorite housemates, they'll lavish all their time on such frivolities, but common to do something that will benefit them, they are attacking the government..

Seriously, only God Almighty can help us!

I've read several versions on their escapades in Nigeria ...that should've been a red flag to not allow them do business in Nigeria

Ademat7:
You don't jack about what went down, hope you know it's one of d reasons why James Ibori went to prison.

Econet that cannot keep their mobile licence wants to come and involve in data center business

EcoBrick:
https://punchng.com/econet-begins-construction-of-100m-data-centre-in-lagos/

DHL so you can track and get it delivered to your home instead of you having to go back and forth at NIPOST. Saves you stress.

TheLasyBuddha:
Quick question, please.
A friend of mine would have her certificate mailed from the UK as she has been awarded a degree. She has been asked to choose a courier service: either DHL or Royal Mail. The DHL would offer a tracking service, which would cost her £20 while the Royal Mail wouldn't offer a tracking service.

Would you advise she use Royal Mail instead of DHL as her certificate would reach her still or she should use the DHL service?

Oooh pulessssss! Who trusts news by Sahara Reporters ...too much vile!

Nemere2020:
http://saharareporters.com/2020/12/15/exclusive-aisha-buhari-relocates-dubai-cites-insecurity-aso-villa
Lalasticlala
Mynd44

True but the people will not want to hear word naa. Isn't it the same thing that happened to themap.ng? Search them here and you will see they've gone bust

smilingjee:
The earlier people know that Ponzi scheme is a fraudulent investment the better for them. Ponzi used funds from new investors to pay fake “returns” to earlier investors. Ponzi scheme organizers often promise high returns with little or no risk. Instead, they use money from new investors to pay earlier investors and may steal some of the money for themselves. It is high time the government look into this matter and promulgate and enforce laws eradicating such illegal schemes. Many have already committed suicide due to loss of investment

Is his farm located in Kankara local government or Daura local government? There are military operations on going in that region, perhaps its not safe for him to go there

Kbroker:
http://saharareporters.com/2020/12/14/president-buhari-appears-new-video-visiting-his-cows-katsina-after-refusing-visit

This is sad.

E yaaa ....wan ti get e Speedy recovery boss!


[quote author=Lanrelagboi post=97004651]https://twitter.com/Mr_JAGss/status/1337838140833329152?s=19[/quote]

1. Bathe regularly at least 3 times daily
2. Wash and or change your bedsheets regularly
3. Wash your clothes with clean water regularly
4. Don't wear same sweaty clothes twice in a row
5. Shave armpits and pubic hair regularly
6. Ensure good dental hygiene
7. Use deodorants and body spray frequently
8. Stay within a well ventilated environment to avoid sweating
9. Don't be anxious as it can lead to sweaty bouts
10. Avoid too much spice in foods

Reachable:
Hi all, I noticed I started developing body ordour under armpit in particular.
First time I noticed it was like more than a decade ago, then was in my 20s.
So I started using medicated soaps and deodorants, at first it was a big challenge getting the one that worked for me because once I start sweating I notice that it will overpower most deodorants I used but one worked for me which is (sure for men the long one).
After some years I noticed I always have boils under my armpits as a result of high usage until a nurse adviced to stop using deodorants that it can lead to skin cancer, at first I didn't knew the cause of my constant boils was the deodorant until she told me and I stopped I noticed the boils just died off.
So I started using them again but this time sparingly, until I stopped using them like some years ago.
I was fine especially if I didn't sweat much during the day, the only thing I noticed was that if I don't shave on time I will have armpit odour or after shaving my armpits the odour will come again for some days then stop.
I was managing it like that, but was making sure I bath at least twice a day or as much I can in a day.

Recently, I was more of staying at home these days unless I have job to do outside.
Only for me to start noticing the armpit odour again, shaved and bath as much as I can yet it won't stop.

My armpits always smell like a per boiled onions some moments after bathing, I have been managing it with explorer sometimes it works depending on my activities for the day.
But it's peeling the skin under my armpits and it's hurting besides it give me boils.
Please help, what can I do?

Will you geddifokoff

Righteousness89:
The Conditioning of the People for what is coming after the RAPTURE is on the way...

The World Inhabitants are being Conditioned for the Mark of the Beast which will come in place during the Great Tribulation AFTER the Rapture of the Saints

Right now, in many Countries and Cities,
It is,
No Mask! No Service!

Next, it's Gonna be
No Vaccine! No Service!

Finally, it will be
No Mark! No Service!

Revelation 13:16-17
16 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.

The KING of Kings is Coming Folks!
JESUS is Coming!
The Pains and Tribulations here on Earth after the RAPTURE will be so unbearable
Repent! Believe the Gospel and be Converted to a New life in JESUS Christ...

Nor bi your brothers and sisters de manage the country's financial team? Ediot

campustrends:
The Governor of Kaduna State, Nasir El-Rufai on Thursday said that Nigeria’s debt is getting out of control and the government has to do something about it

According to El-Rufai, the country’s domestic debt was getting to its debt ceiling as far as liquidity was concerned, adding that there was no need to pretend that Nigeria’s debt-to-Gross Domestic Product ratio was still low.

Speaking at a virtual event organised by World Bank Nigeria, El-Rufai also stated that most rich Nigerians did not pay income tax.

The governor said the Central Bank of Nigeria’s involvement in many activities should be addressed, adding that the country’s rising debt should be controlled.

He said, “You can’t fund security more than you are doing now unless you reduce spending on other ministries, departments and agencies.

“The extensive way in which the Central Bank is into everything, I think, has to be addressed and dealt with. And we must look at our domestic debt management and do something about it.

“It is getting out of control and we are getting to our debt ceiling as far as liquidity is concerned. And to pretend that our debt-to-GDP ratio is still low, I think is not the answer to the question.”
[/b]READ ALSO:
[b] 64% of all Covid-19 tests done in 4 States- FG
-https://bubblereports.com/2020/12/11/64-of-all-covid-19-tests-done-in-4-states-fg/

795 houses to be demolished for Fourth Mainland Bridge in Lagos
- https://bubblereports.com/2020/12/04/795-houses-to-be-demolished-for-fourth-mainland-bridge-in-lagos/

Poor Nigerians would surge to 100 million by 2022- World Bank
- https://bubblereports.com/2020/12/11/poor-nigerians-would-surge-to-100-million-by-2022-world-bank/

On the collection of taxes by the federal and state governments, El-Rufai said it was worrisome to note that many rich Nigerians defaulted in the payment of taxes.

He said, “It is a travesty that in Nigeria, as at 2018, just about 20 people in the whole country paid more than N20m in income tax. It is a travesty and something should be done.”

The governor said the federal and state governments were not doing enough to target rich people and get them to pay the right amount of tax.

He said, “I think that rich Nigerians don’t pay taxes. They live in huge houses, drive expensive cars but when you see their tax return, you realise that the civil servants on grade level 12 pay more income tax than they do.”

In September this year, the Debt Management Office released Nigeria’s total public debt stock as of June 30, 2020, and put the country’s debt portfolio at N31tn, indicating an increase of N2.38tn within a space of three months.

Visit www.bubblereports.com for more reports and updates

Ok

patwilly:
I use the bridge fairly regularly to commute to and from work. I see most times before evening, the workers leave their posts to where? Who else has noticed this? Discuss.

FG wan turn Data into the new 'petrol' that would be susceptible to scarcity, price disputes and inadvertently leading to strike actions

fergie001:
SOURCE

Geddifokoff

petra1:

https://www.youtube.com/watch?v=4d_c_8U6oXY

Yea I understand ...I was just asking if this coincide with the recently changed policy?

YoonSung70:
No ooo, I didn't receive any free money from Polaris bank ooo, I mean a client paid me $228 and I receive 83k as equivalent from the bank. I'm just talking about the exchange rate

Where and when? It would be interesting to know

YoonSung70:
That is how I collected #83,000 for $228