₦airaland Forum

icon91:
What does this news mean for a common/lay man??

Both in short/long term, better days or more pending doom??

Those that understand this Fx & all these economy stuff very well should throw more light on this issue so that man will know his stance well & get prepared for what's coming

I will try to explain as simple as possible. In the hale days of Meffy at the helm of CBN, through some bad economic projections, him and PMB assumed the naira to be "461 to the Dollar", Hoarders and friends of Meffy had a field day, they were able to get the dollar at the CBN rate of $461 and sell on the black market for around 550 (2017) before it steadily rise to the about 780 it is today. These actions spooked the market. Genuine investors didn't get these dollars for investment at CBN rate because of these "Special friends", and they took thier investment elsewhere. Some Industries like Airline who brought in forex at black market rate where told to collect back their forex at CBN rate, which meant instant loss and so i know a particular airline who has about $800m trapped here because of this!.

As the years roll by and as Meffy and PMB continued the charade that the naira was trading at "460" to the Dollar, it became evidently clear that CBN had no forex to keep up with this charade, and so so restrictions and plans were kicked in motion to arrest the situation. First was the famed reduction of Forex debit on Naira cards, it was reduced to $100 per month, $50 dollars per month, to even $15 per month! before they basically just cancelled forex debit on Naira dominated cards. A little detour, That time you could use your Naira card to shop on AE, what happens is that you pay in naira to your Bank, your Bank pays AE from thier own Forex reserves, as the forex got depleted, that why they stopped it. The only way now is to bring in your "own" dollar physically and that's where dom account and Dollar card comes in.

Let's continue, CBN even started forex promo! They advised people to bring thier dollars for a discount, i think it was $5 and get $1 discount, and still the Naira and Forex balance never recovered because people knew that the Naira was on life support.

On May 29th, 2023, Tinubu on his inaugural address, stated a plan to "float" the Naira, and the first step was to get rid of Meffy, which he did last Friday. And so today's announcement, means the forex market is an open field for all, no more CBN rate, instead you have something called "Unitary rate" meaning the CBN rate and black market rate are one and almost the same determined by market forces. It opened the forex window for banks to trade the dollar at any rate as determined by these forces and source it from anywhere. Meaning if a bank is offering me dollars at 700, the black market offering me at 780 will have a rethink, and push thier own prices down in a direct competition with the banks.

What it means for you and i is that, the beginning will be very rough but it will pay off in the end, the reason why most Virtual Dollars are down now is that they want to see how the market will react to these announcement and projection are the dollar might trade between 800 and as high as 1000 naira in the coming days!. The country's forex reserve is almost next to zero, It is the hope that the announcement will encourage investors to bring in thier forex without fear of it been trapped at "CBN rate", other forces will come into play too i.e like the gains of the subsidy removal etc. Steadily these will balance the forex and naira trade driving the exchange rate back to a favourable rate and who knows the bank might even announce a return of forex debit on Naira cards in the coming months....fingers crossed.🤞

jboixxx:
[color=#0000ff]You'll need to. When I opened Dom account last year, I was asked to fill a new form and 2 guarantors. Mind you, I have savings and current accounts with them since 2009. [/color]

I didn't need to. I have the dom acc set up now with no documentation provided other than my naira account number with them. I applied for the dollar card, i have been debited for it from my Naira account and the card is expected to come in next week.

IAmRoot:
Can someone in the U.S send money directly

Yes.

sheggsliveth:
Hello bro, please have you used this on AliExpress before? Am about funding it

I didn't even create the card Bro. The fee is on the very high side.

Babalegba:
If you have a similar account with them already then there is no reason for them to be asking you to supply the same documents over again for example someone with a current account should be able to open a domiciliary account on the spot while someone with a savings account should be able to open a dollar card account. It's just common sense but unfortunately it's lacking in Nigeria

Exactly!.. It's basically the same KYC!, No need for an extra documentation, i doubt some of the CC reps finish the courses before they mount PC and be answering "Customer Care".

Goodnuel:
Yes. I watched a video of the CEO of Cardify talk about some of the challenges they face, and the issue of charge backs and fraud. Still some of these their charges are just too much for the average user. At the rate other are going, Chippercash, the rejected stone might just become the cornerstone again.

Yes, Gotok was truly the best.

Funny story lol i got my Chipper Dollar Card for free in January, then i linked it to my Apple Music, defaulted on the Apple Music Payment because of network issue and Chipper promptly cancelled my card to avoid chargeback at thier end, and now they are requesting for 2k to create another one 😂.

But 2k is very fair compared to what others are offering, so Chipper might be the way to go for virtual dollar cards for now.

Goodnuel:
That's not even all. A 2% charge and $1 flat funding fee. They no serious.

As in, i actually took out time within the past 2 days to try about 8! of these fintechs offering VC services and i was met with a stiff brick wall!. Gotok is/was still the best I've used, and i am predicting if they come back, thier stance will be just as stiff. I don't blame them tho, i think most of them have card issuers outside of here, and the financial burden of that is enormous. I read they actually have to remit to the card issuer whenever one uses the card, even if the transaction failed due to insufficient balance!.

icon91:
That's nice opening a dorm account without much stress, i just opened an account with them the week they suspended their naira card for international transaction (the $15 monthly limit), they sent me my account number later & called some days later & verified my address by asking & describing the building where i reside, the whole tin tire me as the main purpose of even opening the account(the $15 monthly spending) has been nullified

Now back to your dorm account creation, the first stage has gone successfully, nos the real stage & where it matters the most is how's the funding & charges??

Yeah, The CC rep said i should come tomorrow to apply for the Dollar Card, and the fee will be debited from my existing naira account, so i should know more by tomorrow hopefully.

lilioj:
Yes I have an existing account with them.

Sorry Man. But i have a theory that is a little bit wild. I think some CC reps in these banks know more than thier colleagues cuz i first spoke with a lady who told me about the 2 reference form issh, i then asked another CC rep (A man btw) who just ask me for my existing account number and boom,i have sent the dom account no. inside 4 hrs with the internet log in details as well.

lilioj:
Lucky you, I was given 2 reference forms to be filled by Current account holders before the account can be opened. The same Stanbic!

serious? Do you have an account with them?. I have been sent the USD account number now sef and it's already showing in my mobile app.

Ominie:
Has anyone tried this guys?

$8 for card creation and initial deposit. A bit steep imo.

lilioj:
What about reference forms? Were you not given any?

No i wasn't given. They just ask for my acc number with them and that was all. The guy basically just filled in the form, verified my BVN and told me to wait for a text with the account number.

Toluene15:
Is there any charges or maintenance fee attached to this account?

I haven't gotten this info yet, as I'm yet to receive the account number. Will update when i do

Lucasinho:
Which bank and how much minimum is required?

Stanbic IBTC. I didn't pay anything. They only said i should make sure i have 1075 in my naira account for the Card issuance.

I went to my bank today to open a dom account and it was the most seamless process ever. I didn't even submit an ID. All i had to do was sign the acc opening form. I await the USD card.

itspreshh:
I'm certain Thor could've been back to save the planet since Love and Thunder took place after Endgame

What purpose would Hawkeye being with his family serve if the planet was being overrun by aliens...he has to protect his family doesn't he?
Same as Steve Rogers...

What happened to Spiderman too? Or Doctor Strange?

None of them cared that Aliens were taking over the planet? I guess it's not their business

Like I said, my biggest issue was the excuse...
It was lazy af...
I'd rather no excuse was given at all...then it would be easy to write it off as normal superhero continuity we see all the time where Characters suddenly disappear from another Character's movie/story

SmH, Same Steve Rogers that went back in time to live a full life with Peggy Carter, so making him approximately 180 years old by the end Endgame takes place and renouncing the Captain America role because he's old and fray? It clearly shows you don't know what you are talking about and I can't help you..seek help.

itspreshh:
I simply acknowledge good writing and call out lazy writing.

I just rated The Prestige, a Christopher Nolan movie 10/10 in the movie thread about an hour ago

The AVENGERS are a mess doesn't mean a threat that puts the planet at a supremely grave risk is not their business. It's just a lazy excuse to keep them out.

His friends....what other friends apart from the Avengers would be better to take out a group of aliens that are about to take over earth?

Are the Avengers going to sleep through the whole ordeal or what?

Give me one concrete reason why the Avengers even in their detoriated state won't save earth from thousands or millions of alien Invaders who have decided to take over the planet?


Isn't it their purpose to protect the planet? Or do they take vacations?
So if after fighting Thanos another enemy appears, they should go to sleep?


I called out bad writing and next thing you are bringing out AOT...wetin concern AOT with the lazy excuse that was given in Secret Invasion...

I'd rather they didn't give any excuse than that:
"It's personal"

Bro...billions of lives are at risk...but it's personal...so you won't call for help from the most powerful group protecting earth

Which "Avengers" is he going to call? Did you even read my write up at all or you just like to type nonsense. After Endgame, Iron man died, Thor decided to go back to Asgard and leave the Avengers business, the GOTG left with him, Black Widow Died, Hawkeye decided to go be with his Family, Steve Rogers gave up the role of Captain America, Scarlett Witch went off to go create a fake town and Antman was stuck in the Quantum Realm. So tell me, which "Avemgers" was he going to call?

itspreshh:
Just saw a clip of the first few minutes of SECRET INVASION


Aliens have invaded earth, they're trying to secretly take over the planet. They could be anybody at anytime. They can shapeshift...blablabla


Woman: "Nick Fury, why haven't you called your special friends (avengers)?"

Fury: "This war is one I must fight alone. It is personal."



wtf is this dogshît writing?

So you mean the planet is facing one of its greatest crisis...and you won't call for help from the most powerful group whose purpose is to protect the planet...because it is personal to you?
So the billions of lives on the planet are in serious danger...but you won't seek assistance from such a powerful group... because it's personal to you?

They could as well have created a stand-alone series...but I guess they can't sell it if it's not connected to the MCU?

I'm yet to see a marvel show that has impressed me...I guess I'll have to lower my expectations for Secret Invasion too

The events of Secret Invasion takes place immediately after the recent MCU projects. After Endgame, the current state of the Avengers is still unknown, as what is left of them are all of on thier personal adventure, till a new "Avengers" is formed somewhere along Phase 5 to tackle Kang in "Avengers: Kang Dynasty. And she specifically said "why haven't you called any of your Special friends" does this ring "Avengers" to you and deserve your inchorent blabbing? This could mean just about anybody, Carol Denvers etc, but you immediately equate it to the "Avengers".

So after creaming on AOT, all logic and reasoning go out of the window for you?

People watching "Fast X" and complaining how "fake it is are so comical. Smh, it's the car flying through hoops, never possible, gravity defying stunt that has us hooked. If you have a problem with that, then I'm sorry, Dom and the family can't help you....go watch formula one if you are looking for realism

Ade2023:
use bitnob. It's like gotok and better. $1 card creation fee and that's it. I have used it to buy stuffs and it's seamless and easy. Diwnload the app from Playstore

It's not better than Gotok and $1 card creation fee is a smoke screen.$3 is the minimum amount for card creation, where one $1 is charged for the Card creation itself. Subsequent topping of the card will attract a $1 fee if the amount is less than $100 or 1% if above $100. Now tell me, how is this remotely better than Gotok?.

Nothing comes close to Gotok for now in the Virtual Dollar Card space and i do sincerely hope they find a new card issuer if not, one is better off getting a dollar Prepaid card or Dom account from these banks than these slavery gag that these fintechs are offering. Trust me, it's way less hassle.

Ekikor:
Good evening guys. Checked my parcel app and out of the 4 products I ordered 2 has arrived but I'm being told to come with a code as you can see in the screenshot I attached. Please how do I go about it. Also one of the items still shows that it's still at China but I ordered all of the same day and time. I messaged the vendor on AE and I got an instant reply that seemed bot generated telling me that there's an issue with the item and I should open a dispute which I tried doing through the AE help option cuz I couldn't find the option to open a dispute on the order page. But it was unsuccessful. Please how do I go about that ? Thank you

This is a simple issue and there is no need to open a dispute. Speedaf usually sends a pick up code in the pick up notification mail sent, but sometimes this mail does not come. Just go to the office with your name and phone number on the parcel, they will look for the parcel and give it to you.

BlackManta:
Terrible idea.

It will be better for everyone if he just stayed at home.

I got confused with the "They", this gender affirmation brouhaha is one of the silliest thing ever, makes absolutely no sense and causing unnecessary confusion.

The PR optics for this movie has been a disaster even since DC decided to stick with they, thier antics is enough to knock any actor from a low budget movie, let alone a high profile flick as this. I am surprised you lot are still confident that the movie will do good numbers.

Paulino029:
Yes I live in kwara, Ilorin precisely. Does that mean the package would be at speedaf office in ilorin?

yes, if it's close to you, you can go.

Paulino029:
Pardon me please, it's been long since I ordered from aliexpress. Please does EMS-Kwara signify that my package has arrived at the post office? I used my current location as shipping address i.e ilorin

It's a Speedaf delivery and not Post office, do you live in Kwara?

Gmajor:
Poeple actually like the otoscope animation of Undone?
That's news to me

Yeah apparently...not me tho, i couldn't get past one episode because of it, totally dropped it despite the rave reviews.

Babalegba:
Most Nigerians are extremely impatient.I blame the sellers replying to the messages not knowing the psychological make up of Nigerians. Nigerians will be disturbing the peace of the sellers after about twenty days of despatch even though AliExpress makes allowance for more than sixty days in transit.

lol funny enough, from my conversation with particular a seller, they don't really know much about shipping info past the normal one that AE updates, i think once they hand it over to AE for shipping they are 90% in the dark till one confirms the delivery. That's why AE gives ample time for all these to take place before alternative action. If my package is routed through NIPOST, I usually just remove my mind, till they contact me, or when the buyers protection is about to run out, i go to the post office to see what's up, if not, i apply for refund and hope for the best. Shopping on AE is a long patient game.

9jamemez:
Okay my own still dey that linehaul office for over a week now. I have already told the seller, he go reach out to them and give me update.

Pro tip. If the dey linehaul office, na most likely the same info the seller go tell you.

Baddestguyp:
I was actually referring to the very realistic styles used in some episodes in LSR where some people found it difficult to differentiate between animation and live action

Oh not like that then, I don't know how good you are with animation terminologies, but they used what is called "stepped animation".

I believe the one you are talking about in LSR is called rotoscoping animation, same used in "Undone, i totally hate the style btw.

Baddestguyp:
better animation quality than Arcane? Or those from Love, Sex and Robots?

Or is it in animation style and direction?

Better animation style, direction than arcane but on par quality. I can't really compare with L,S and R because they used diverse animation style in that.

Baddestguyp:
I've never seen the prequel...
Looks like I will watch both at same time period

The Prequel is one of the best animation in the last 10 years. The style is so unique and dope, there's even an alternate version that is also good.

itspreshh:
The Disney fans on this thread are funny

They want us to believe that The Little Mermaid in doing so well...yet it's a massive flop in International markets...
In fact it seems the movie will struggle to reach 500m


They want us to believe the ratings are good, yet the ratings are protected on different rating sites...and the scores we see are not the actual scores...

As someone said: The Little Mermaid went from having the biggest expectations to potentially one of the biggest bombs of 2023

This Box office Think piece is a tad ridiculous, expecially the last paragraph, for a movie that is literally 3 days old.

dipson4:
I think it's normal. At least it is close to you now.

I just don't know why recent orders have to go from departure country to transit country. Same thing I'm facing.
Normally, it's from departure country to destination country.

These are goods mainly sold outside mainland China, so they have to go through a transit country and are mostly routed through Nipost hence the more than usual delay.