₦airaland Forum

VitoCorleone:
Anyone who thinks it's impossible to manipulate exchange rate should think back to 2017 when exchange rate of Naira to dollar fell from about 515 to 360 in one day. Most of the people hoarding lost money.

If the CBN's allegations are true, then it means that the CBN has failed woefully in it's oversight functions.
In fact , if proven to be true it would mean that Abokifx may be partly responsible for the devaluation of the Naira from 360 to 380 and then 410 due to the huge disparity in black market rates and official rates.

On a broader scale, this can be seen as an act of economic terrorism considering the devastating impact on Nigerians and Nigerian businesses who source funds from the black market.

I remember sometime in 2016, I called my aboki contact for fx and I quoted the aboki fx rate, which was lower, he got angry and asked me to go buy from AbokiFx.

Aboki Fx was not as popular at the time and most of the black market traders didn't know about it.

These days , my aboki is only too happy to quote abokifx rates for me. In fact , one boasted a few days back that they are the ones that control abokifx website.

The fact that the owner of Abokifx resides in London, is very unsettling. I say this because I have lots of friends in diaspora and not one has ever complained about the escalating exchange rate despite how patriotic they claim to be. In fact, they are always demanding for the same rates as abokifx or higher.

AbokiFx has no legal authority to publish exchange rates but they are recognized by all mainstream media channels as an exchange rate information provider. This includes print and mass media outlets like magazines and tv stations. Every newspaper in Nigeria quotes abokifx

This alone creates a dangerous monopolistic situation that can easily be used to manipulate the economy.
I have seen a single individual raise exchange rates by more than 3 naira in binance P2P trading for over a 24 hour period.
The owner of Abokifx only needs to wake up and add 5 Naira to the exchange rate and that determines the rate for an entire country for the day. That is how much power this single individual wields.

The big question remains whether this power has been abused in order to manipulate the rates.

Time will tell. The last 3 weeks has seen the Naira move from around 520 to 570. At this rate, we'd be hitting 600+ by next week.
Let's watch and see what happens.

Any way this goes, I don't see this ending well for the owner of AbokiFx. Even if he were to be innocent, the government is desperately looking for a scape goat for their abysmal financial policies and he happens to be an easy target. I hope he has good lawyers.

Finally ! Someone with sense ! Thank goodness ,NL still has sensible folks.

CBN is finally woken up.

Shame! People don't read anymore. The aboki FX guy is a criminal and he's been running this shit business for years and finally time has caught up with him.

Imagine , he's no license and cashing out huge. Damm. Nigerians are different.

Emefiele is serious. I wonder why people hating on him ! His records in the private sector is not for kids.

Working.

Need lots of eBay.

Good work bosses

can i get a VERY STANDARD 3-bedroom flat around or in katampe extension with a budget of 2.5-3M ?

Hmm

EDD spending needed

10k+

Rate is fair.

Because they were no miracles in the old time

Modrov:
He does not pay the same debt as his colleagues in the US who schooled there do, which is why he can afford all of that.

Here in Nigeria, we pay less than 500 dollars annually for education.Thus we leave school with not much debt or no debt.

In the US, fees can start at 3000 dollars or even as high as 40000 dollars. And you are schooling for 8-10 years (4 years college, 4 years medical school..which goes up to 6 years if you are doing a combined MD/PhD programme).

I once heard a black American female doctor state that her debt from medical school alone was $150000 dollars.

Thank you! Every doctor can leave the country all they want , what you won't do is make yourselves victims or make me have some pity when everything is being handed over to you on a platter ever since tertiary , down to nysc. Jokers.

EfereboS:
Subsidized training you say? Hmm...That’s not the case though. I’m in a state university and I pay 140k per level. Other below me pay 200k and above per level. And although, it is “subsidized” like you say, more than half of my class has not paid the required fees. Some have to depend on scholarships, others also make use of state loans (and are in debt like their counterparts overseas) If you stayed overseas, you’ll not see their fees are overboard. For example, we pay 100-170k or more as house rent in Nigeria but other overseas pay $1500 and above for the same house rent but that does not mean you’re receiving subsidized rent.

140K is more than subsidized , barely 350$ using 400/$. Wonder why this same Saudi Arabia isn't recruiting from these other European countries ?

ucyonline:
Government is not funding medicine in Federal schools. These guys pay through their nose to become doctors and then the government will want to pay them pea nuts for their services.

Remember that these people have needs and family to take care of.
What can 110000 really do for anyone in Nigeria?

Lol , ask unilag students how much their medicine students pay ? Compare it around the world , even the countries that give free tuition , understand the mechanisms they've put in place to make sure the funding of such students is plugged in back to their economy!

It's Nigeria and anything goes , thats why a whole employment scheme would be done , taking your doctors right under your nose and no one is batting an eye.

drsibz66:
Lets assume they are even sponsored , does that mean they shouldnt be well paid. Witchcraft at it peak.

That's not what I'm implying at all. They should be paid handsomely even, but they shouldn't also forget the fact that they got that medicine and surgery certificate for the cheapest.

Jostoman:
what is this one saying is it your government that sponsor them to that level or their parents? Buhari always go to London to treat himself, Tinubu is in London to treat himself now so what's your point?

I'm not joining issues with anyone that's not well educated on this particular issue. Thank you.

Tecord1:
so because they pay less for their training as compared to their mates abroad means they should suffer and die abi? Why not do a comparison between our politicians and their mates abroad too. Doctors who are exposed to various kind of diseases, virus and germs on a daily basis are not duly compensated as compared to politicians who just go there and sit. Doctors hazard allowance is 5k per month but hardship allowance of politicians is in the hundreds of thousand if not million per month. So when you compare do that intelligence.

Lowest it cost a citizen to study medicine in America is $30K
It's a standard working economy unlike what we have in this country where everything is practically subsidized. Get your facts.

These guys shouldn't be tolerated at all ! Imagine the peanuts they paid to be a fully certified doctor and all they cry about is payment ! True , country is in a chaos but for once , we must speak the truth , if the medical education is that easy , why them no go Learn medicine for this same Dubai they're rushing to work ?

Call a spade a spade , they're swindling the govt and I think it's high time govt should stop funding medicine in federal schools.

Wells Fargo

First National Bank

USAA

Capital one


Needed for Spending at good rate.

OTP to number.

Tap in bosses.

Need $5K EDD transfer at 370/$.

Payment after 24 hours.

Tap in.

Why's this guy famous ?

Shehu sani is just a clout chaser. Kanye isn't your level. Back off.

suchmuch:
update I have sent email to apple and they promise to get back to me with 24hrs

I will post update as the event unfold

Thanks

Bro please could you give me the apple email please , I also have a gift card issue . Thanks

Hello guys please I have a situation, I was trading on paxful yesternight, got to the point where I would upload card , wasted a lot of time but by the time it finally uploaded , site told me trade has been automatically cancelled, by the time I tried selling it to another , it's saying the card has been used obviously by the person cuz the picture clearly uploaded before the cancellation of trade came up . Please how can I get my bitcoin from this trade ? Thanks as I anticipate your swift replies and advice

Ugly

Oshi

Why discrete ?

Imagine

Great move that must be lauded

Hard times