₦airaland Forum

dettolgel:
Our economy is not developed to the stage that all these other business like bdc and road side hawking and 2 by 2 shops. These businesses at the moment create job opportunities for some. At the moment we need to find a way to regulate them.

Once the economy develops the business will die a natural death.

The question now is how best to manage the situation without ruining the economy or jeopardise the livelihood of those involved.

Maybe BDC creats employment to few particular people but its has no economic importance nor boost the GDP ... they aint worth any preferential treatment,

The business that drive the economic is "SMEs and BDC does not qualify as an SME, therefore going after the BDC won't have adverse effect on the economic or Nigerians, thats the priority
Those involve in BDC are super rich, they've acquire so much wealth they can always take care of themselves even if the business grumble.

Smartguyboy:
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.

Why is it that everything that makes life unbearable for Nigerians is what Peter Obi and Obedient always chose to defend

Naira scarcity, Peter Obi & obedient stoof against Nigerians to defend Emiefele morbid policies
Now its BDC, Peter Obi and obedient are swinging out to defend BDC operators,

dettolgel:
Go to Amsterdam, Brussels, Antwerp, Rotterdam you will find their equivalent of Mallams.

We have the habit of destroying people's business as a way of punishment.

Government could have simply given them 2 weeks to register and that their representative should bring the list of registered Mallams in their district.

During a raid if an unregistered Mallams are seen government will fine the Mallams in charge of that area 5 million naira for each unregistered Mallam operating there and the fine should be paid within 5 business day or they will be prosecuted and their licence withdraw.

That way the Mallams will also be part of the enforcers no business destroyed no body is being harassed, government is making cool cash and mallams are feeding their children.

APC can use the idea I won't complain as long as it moves the country forward.

IF the govt decides to go after the business of "FEW" that are jeopardizing the lives of people and the economy as punishment as i don't see any wrong it
besides, majority of the transactions @ the parallel market is not production driven, all players are just "overnight Profit" driven

I keep asking, what is the benefit or impact of BDC to Nigerians or the economic, does BDC even have any advantage

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

Peter Obi keeps talking about " Driving the country towards a producing Nation" whereas business are counter-productive

Peter Obi is not saying anything NEW, people and analyst across media stations have being saying these things since

VeeVeeMyLuv:
You are brutally humourous

But should it be their birthright?

I mean must it be their birthright?

When you are accustom to something for too long you start feeling its your birthright,

if you pick something and no one challenges you or drags it with you ... it becomes your own

pocohantas:
By ignoring them.

You snub me, I snub you too.
You ghost me, I ghost you.
You hate me[i]I hate you double.
[/i]
You love me, I draw you close and give you a time of your life.

I don't have time for drama.
Let alone trying to get anyone to talk to me or like me. The people you don't snub, you dey dash them money?

Abeg getaut make I see better people!

So you hate kay double , a ba'jor !!

NairalandForumo:
So why are you people blaming Igbos for endsars?

I Don't remember any reliable source or authority blaming the igbos for endsars, those are just online bants

Trying to hide behind endsars is like trying to hide behind "A finger" ... IGBOS have never supported any national protest, we know them and we have accepted them for who they are peace bro

matify83:
Come to think of it.

Who leaves 500k in the bank to be eaten up by 29.9% inflation and given a paltry <3% interest rate?

yiiimu So where do you leave yours


but wait o ! there is no way these people will count poco and prosperina and it won't pass 5per cent what happened to i can feed your generation

NairalandForumo:
Have you seen any protest in the south east against Tinubu? do your protest alone abeg....

we have always done our protest alone you don't need to beg,

Stop announcing you will boycott national protest, when you have no history
IGbos boycott Nigeria sef no be news

Irony1:
Naturally you are bereft of sense. Did any igbo now talk about Lagos or you just decided to make imaginary enemies now. See bros this narcissistic game is too stale. We are a hardworking people and we have always gotten by in the face of adversity so this one no be anything new.

We will not protest anywhere is igboland and igbo lands in South south neither will we protest in Lagos or anywhere outside igbo land. Go and face yourselves and leave igbos out of your mess, we are co tributing to Nigeria in our own way.

Are you not the one who brought up, thugs didnt allow igbos to vote in lago, who is painting the picture of enemy here,

What makes Igbos hardworking and depict yorubas or hausas are lazy ... sometimes i don't understand how you people come up with these shallow mindset, that was how a pastor in East said one igbo man is equivalent to five hausa .. which kind smelly talk be that

See adversity knows no tribe, unemployment, depression, hunger name it ... we all face it. In the last election Tinubu had more adversaries than any Candidate he won and he is even facing worst now ... so weytin make igbo man own unusual.

LOL !! what would have come as a "Shock" to mindful Nigerians is if IGBOS protest for a National course, check history your people never joined any protest, 93, 011,even Naira scarcity that traumatized all, your people boycotted it and you think you can shock or threaten us with more "Boycott"
we go all suffer am nii if you like claim all Igbos are millionaire, its on FP only 5% nigerians have over 500k for account inside hyper inflation... dey play

SoNature:
When many lunatics went about saying that they will teach Igbos and Peter Obi a lesson during the election, what were they promoting, harmony?

When APC mobilised all their thugs in Lagos to stop the Igbos from voting, what were they promoting, love?

You lots need to understand that elections have consequences. The man who brings ant-infested gays into his hut should not grumble when lizards begin to pay him a visit.

Abeg I no get the strength to type.

Think naw, 2023 is not the 1st election igbos/East preferred choice will lose, its only personal now becos it is there son that lose

Pre-election Tinubu that ticked the box for me and i voted him .... how does exercising my right translate to teaching Obi or igbos a lesson what kind of lame thinking is that
You voted your choice, you voted obi was it to teach yorubas or hausas a lesson or because you believed in Peter Obi.

Lagos is just one out of 36states, that igbos didnt have there way in lagos does that excuse them from the duty to national course
should Patriotism be to lagos or Nigeria, what is the fraction of igbos stopped in Lagos to the population of Igbos in Nigeria.

So what happened in Lagos is a good standing for ALL igbos to share same sentiments ! i shame for you

Irony1:
Can you just shut up. How many Yorubas live in SS in the first place? You guys are narcissistic in nature igbos living in Lagos will protest you will say they want to destroy Lagos, now they have decided not to and you just want to look for a way to abuse them. Haaaaa are this frustrated and condemned? You behave like someone who has been cursed.

Can you look for someone with sense in your family house to explain to you these as nothing to do with who is in whose land, its all about what are you doing with your land

Hausas are in Lagos same as other tribe, if hausas want to protest they use there region same as yorubas.

Only IGBOS make it look as if Lagos was built as protest ground, if yorubas don't want igbos to protest in Lagos what is the rationale not going ahead in the East .. these economic hardship no even spare tribe

check the news, Hausas protest in kano, nassarawa, yorubas protest in osun, ibadan but e reach igboman .... they wil say we want to destroy lagos we won't protest does it mean all igbos live in lagos or only igbos in lagos have right to protest


make it make sense

SoNature:
Most of these Yoruba folks are disgusting.
If you haven't mentioned the Igbos, you won't rest. Tinubu is the president; northerners and Yorubas are protesting against hardship. Yet, this idiot is writing a letter to address the Igbos!

What is the rationale behind Ndigbo president imploring all igbos to boycott any protest .. does it promote love for the country

when its time to work the work una go boycott but when its time for election or appointments you all rush out making most demand.

KEVIND:
the North & South West are protesting the hardship of the Tinubu administration, even a northern cleric threatened a whole wife of the President with de.ath. you no see that one ooo.
na Igbos wey mind their business & resolved not to protest, you're accusing of drumming the embers of another civil war.
Honestly, I just tire for these people.
Igbos go left, they complain, Igbos go right they complain.
What do you really want from the Igbos

in one word "sacrifice"... let see igbos make one sacrifice for a national course

NairalandForumo:
You see why Igbos left any protest for you people and Hausa, so that you won't see Igbos to blame, at least you can both blame each other.....

Is lagos the only ground to stage a protest, did yorubas leave there region to go protest in the SS, even Northerners are protesting in there homeland

So why must it be "Lagos" if igbo wan protest, why can the protest hold in the "East" abi una no like home advantage

Immatex:
The same CBN floated the Naira with the slogan "willing buyer and willing seller". Are BDCs not fulfilling this slogan?
I am not against standardising their operations, but this fire-brecade policy with it's high capital investment requirements targeted at turning BDCs to banks with high tech reporting should come in phases and not rushed.
There's a risk to business survival. BDC business is not a taboo business. Its should not be eradicated which this policy is tactical aimed to achieve.
The CBN is well known to blame everyone and everything except itself for the poor performance of the Naira.
The country's economy as it is today is now an ethnic topic, with Yorubas now claiming to love Nigeria more than the other ethnic groups.
CBN's blame sharing might end up doing the Naira more harm than good.
The problem with the falling Naira is not BDCs. You can't operate a debt driven economy and expect your currency to outperform your creditor's.
So this autocratic and toutish approach to economic management to attempt to please citizens is not guaranteed to work, it's simply trial and error.

You keep talking about phases ... capital base raise sounds to me like a "one time directive" .. so how do you dice "One time" into phases

Nigeria economy is on the verge of sinking, meaning we have a very limited time and here you are proposing phases on top capital base, so which year we go come move to overhauling & digitalizing the parallel market.

I can excuse BDC for the devaluation of Naira Buh the present "free fall of Naira" is traceable to the BDC, cos the BDC market provide facility to harbor saboteurs, speculators and hoarders. i know the banks are not innocent buh the "black market" is the queen on the chess board ... pls let that sink

For instance no matter how lucrative toyota corrolla part are, if there is no market that will buy it, that automatically exterminate the theft.

However, BDC is a licensed operation what the govt can do to overhaul that sector is raise the requisite to have a sizeable operators, what is sizeable can be easily monitored.
Raising the capital base for BDC is commendable and a step in right direction

pocohantas:
Do you know him personally?

I agree with you on the apology and forgiveness part. Very important!

losing is inevitable, isnt it memories are important and rememberance are very importanta

Therefore its with a healthy heart we invite the public to 7days remembrance of kween diary, no surviving pages

As it customary item 7 as being made available courtesy Alfa males .. pick n pass

Immatex:
The guidelines simply aims to drive Northerners out of their own tuff. This regulation by CBN is laughable. Such high handedness will continue to encourage illegal BDCs. This is just using grammar to ask BDCs as we know it to stop operating. [b]Even in developed economics, changes are introduced in stages not to lump everything together and make it cumbersome for business people. [/b]This adminstration is desperate to prove they are working but their actions are that of a paranoid and power drug authocrat.
This policy has no human face, is targeted at provoking legitimate businesses to close shop and might still achieve little or nothing

what is cucumbersome about the directives, do BDC and business people work under same regulations & policies

what is Cbn about to do to BDC that is different from what was enforced on Banks ...the 25m capital base on banks was its gradual, did it kill our banking sector or made it stronger

OF what economic importance or impact is BDC operators that you expect the govt to be considerate at the detriment of the economy/naira value. whu bdc help

Lets face the truth, BDCs are expendables but that is like cutting off the North, that they are allowed to exist is enough for "human face"

Didijiji:
LAGOS BUILDER

Define hard work and it's result

Person dey work hard dollar dey sky rocket

Painfully the so-called hard workers used innocent dollar @216 to protest and deceive the largest black population in the world

SCAM COMES IN DIFFERENT FORMS LAS LAS

Now they are there nothing stops you from revenging, you guyz don't just have the balls like they did ...

stop taking us back to GEJ era if you guyz can't do anything or protest

VeeVeeMyLuv:
What's the difference between BDCs and Binance P2P

there is no difference at all. All of them Na the same thing

One is analog and the latter is digital, while the Binance (digital) is highly regulated and can be monitored the parallel market (BDC) is directly opposite

tonicyril:
Sentiment apart, please someone should enlighten me.

Why do we need BDC?

To me this is one of the problems we have as a nation

Imagine a bank ceo collecting dollars from central bank, refused to use it judicially but sell it to the BDC operators for higher gains and later he will be building university in marina island..

We don't need BDC in real sense, BuH sustaining the BDC is the only way not to unplug the North

socialmediaman:
For 8 years, Tinubu supporters praised Buhari and told Nigerians that he was doing a good job, setting Nigeria on the right course

Today they tell us Buhari misruled Nigeria and Tinubu is doing a good job, setting Nigeria on the right course

Stop being unreasonable, who are those saying Tinubu is doing a job abi make he no just be like you no see anything talk

Since 1999, Tinubu is the most unlucky becos of "Timing", no ex-president as gotten these much criticism and heat under 1yr, N and SW voted for Tinubu but they are the ones calling out the govt ... the news are there

Oghene86:
If they like they arrest all BDC operators in the country the Naira will continue to fall, as long as we are not having in Flow of dollars nothing would happen, these men are not economist they are commercial bankers and don't expect anything good from Cardoso that ran a bank down to liquidation

Not having an inflow of Dollar is not the problem per say ... The excessive demand for dollar is what is strangulating the naira and as if that is not worst enough we now have FX speculators who specializes in Mopping & hoarding little available dollar to squirt overnight profit.
If the inflow is low and the demand for dollar is low or moderate the economic will stil sail

The scope of an "economy" is transactional inflow and outflow of money, and what bankers do is money practical compared to economists who just profound theories, i think economists are better of as consultants

LegendHero:
Most people on Nairaland no go school.

Nothing is pegged and the report did not mention that it was pegged.

What CBN just said is that[b] they will use the closing rate Of the date of form M.[/b]

So if dollar is $2000 on the day of form M, that is the rate you will pay the fees with. So if tomorrow, the dollar falls to $1200 on the date of from M, that is the rate you will pay.

So what exactly is pegging that OP is talking about?

that is still "pegging", i believe you understand how auto and manual work

Using the "closing rate" resonates with the manual, cos it is dependent on effort and "FIXED"

While the floated exchange rate can be ascribed as Automatic, the Fx market determines the price parties just follow

Just an analogy, before you come back and tell me you no find am for textbooks

pansophist:
The point I am trying to make is that japa is not an achievement. There are also wretched people there as well.

Also, good life is relative, not absolute. You can live in the non west, and have a good life than someone living in the west. That is my point.

okay, that is relative and your own perception, but from a societal/general view travelling abroad sure sounds like an "achievement.

I think what you are driving at should be a subtopic, however we can't ignore the fact that the chances of succeeding in a developed, organized and enabling environment are higher

Even the employment rate is a pointer, try plug in on a general spectrum

CommonSense1967:
Did the Custom officers tear gas them for fun of because the people were behaving like animals? Even at the airport, Nigerians can take simple instructions that's why many foreign airline staff are rude yo Nigerians.

But when these same Nigerians go abroad, the way dey conform to civility go shock you

even at the embassy you will think all Nigerians are Obedient

pansophist:
I remember when my mum was at Brussels North station one rainy night, and she was shocked to see lots of homeless people sleeping in tents at the train station. She was now asking me, why didn't these people just go back home?

Both whites, blacks, and middle easterners, are all sleeping, and the NGO gives them food every day. So tell me, is that a good life? of course not.

There are lots of people in Nigeria that are doing great, and they are living well. I do rent Airbnb in Lagos sometimes, and the kind of mansion I see, mehn, their life is way better than those in the west.

Japa is not an achievement. It is just a location change.

No its not a good life, But lets look at it these way, if those people have an investment or something tangible to fall back on in their respective homeland i don't think they will stay back


lemme give you an example of a family friend, he had a good job in Nigeria, as an oga in civil service he travelled without resigning and his loyals covered for him at work... after some months things were not yielding as expected he called home to inquiry about his job .. he took the next flight when he knew his job was still secured

pocohantas:
This question is similar to another common question - IS MARRIAGE AN ACHIEVEMENT?

People would say NO when

SET 1: They have it and are enjoying all the perks it gives or has given them. So now it looks normal to them or they want to sound modest/politically correct. When they were fighting to pass IELTS or whatever it is called. They didn't know it is not an achievement. I can't blame this set because if they say YES, set 4 would attack them.

SET 2: They have it and are enjoying nothing.

SET 3: They have looked and there is no hope of japa'ing. Now they have to console themselves.

SET 4: They are steadily in a competition with diasporans. These ones don't want to japa, though they have the means. They just want to stay here and tell you they send money to Nigerians abroad. On NL their work is to analyse the salary wages of Nigerians in the UK and America.





Having the above definition in mind. Japa to a good country via the right means is an achievement to some people. Japa has changed the lives of a whole family because one person managed to crossover.


The two people that would tell you NO on this thread would most likely fall into SET 1 or SET 3.

SET 5 : They are constantly on every diasporan threads looking for hookups, these one don't even know what they want but whatever happens if they find themselves abroad it must not be on there account . They just want to oppress friends and troll their life is better using their spouse.

Achievement is relative to "persons" but the society share a common ground on "achievement"

Biglittlelois:
Have you ever involved yourself in wedding plans before? Obviously you're not married because if you are, you'd know how stressful one can be on the wedding day, talk more of adding crawling or unnecessary activities to an already stressful day.

Really !! tell me about it

Buh wait a minute, no matter how stressful it is does it negate the fact that its just "one day of our lives"

IF you live and work in Lagos you will know life is stressful compared to whatever your eye see on wedding day

killsmith:
I can perceive your dirty ogbomosho stench from my location

You mean like these one

mariahAngel:
Bigot!



He's fighting now by speaking out against this administration.

How did Tinubu become president?

Are we not all speaking out, does an average Nigeria not speak out everyday

You guyz have said it here countless times that Tinubu/APC sponspored the "fuel subsidy removal" in 2011 and Tinubu roused Nigerians to rise and protest during currency scarcity 2023

Before Tinubu, Buhari was president and need i remind you Buhari did more than speaking out against GEJ govt, he led a protest cos to whom much is given much is expected

matify83:
Labour party is not a special purpose vehicle (SPV) to the presidency for P. O

Peter Obi made LP what it is today, if he moves to say YPP today, his crowd of supporter move with him.

He has a cult following.

Cult following whose purpose and concerns are limited to election only

We saw what Buhari did with his "Cult following" in 2011 whereas Obi is always M.I.A

when will Peter Obi fight for Nigerians, guyman jus want to be president on a platter of gold