₦airaland Forum

Just30:
even when the naira was stable because of pegging, the parallel market rate was still not the same

I don hear but I no gree.

Just30:
I was actually on that thread some time ago .

And I could see your frustration in how dirty Nigerian hostels were

It tells alot about me saying the truth.

You too, do the same and shame the devil.

Just30:
no its not because the person did you a favour he wasn't willing to bur the cost of volatility. Pure business

And the bank had to change it at a rate the can use to buy the dollar.

Doing me a favour since 2000 - 2017. I see.


Naira was not stable in 2000 till date.

Tell me another sweet lies.

vaxx:
am gonna forgive you. becuse i like your name. take a look at the modern legon swimming pool olympic standard.

Oga, when it comes to facilities, many universities have better ones that Legon University but legon beat some with maintainance and organization.


This kind of swimming pool was already in University of Ibadan as 1998 when I was a student.

vaxx:
am gonna forgive you. becuse i like your name. take a look at the mordarn legon swimming pool olympic standard.

Forgive me for wetin, no bi you suppose beg for my forgiveness.

I don open yanch small.

vaxx:
i know he is lying from the begining

Am I still lying?

Just30:
so you came to Ghana expecting that the naira will be converted at rate 186 to the dollar and it was converted at 200 naira to the dollar

Don't cry next time bring dollars

Is that not against the integrity Ghanaians preaches?

Just30:

He had no idea , come and remove your mouth .

All the atm are at the atm farm
He didn't know that

E don run go look the thread.

Just30:
so don't expect a stable exchange rate for the naira when even the person exchanging it sees that he is doing you a favour because it is practically stupid.
Co's even in Nigeria, there is no exchange rate
So the person can decide to buy your naira at 200 naira to a cedi

You have started changing goal post.



We can see Ghana's integrity in this post.

It is not different from what you claimed is here.

Open it. Na me snap am two years ago. I didn't snap last year but I go snap dis year.





https://www.nairaland.com/2516470/pictures-university-ghana-beautiful-hostels

Just30:
yes , when you exchange Naira
The rates are different because there's no official exchange rate
Even in Nigeria, there's no official exchange rate for the naira.

I am talking about at the border. Since, you said we should bring dollars. Abi you know dey think.

Besides, no Nigeria will be foolish to damage his economy by bringing dollars from Nigeria to Ghana.

That is madness.

Just30:
he did know that the University of Ghana does not accept Nigerians with certificate from Nigeria into the University because of credibility issues with the right certificate and they don't have a conversion rate for their grades.
A Nigerian get admission only when he manage to get a Ghanaian wassce certificate.

I think I am a student of the best University in West Africa here in Nigeria.

Of course, legon is beautiful.

Just30:
yes you will have to exchange the dollar to make payment and you will get someone to exchange it at the border for you but not naira

But the rate is very different from the ones in the town. Use ya brain.

vaxx:
which bank do you use in legon and give me a direction to the bank in campus

There is Zenith, Access and others lined up where dey sell food. I remember that place is where the central gas is. It is beside a big hall with long steps and opposite the sport complex.

Just30:
who even exchange Naira at the border?
The problem with you Nigerians is that you always act dumb. How do you travel from Nigeria with Naira in hand when you should know that the international denominator is dollar?
The guys who always exchange Naira at makorla are Nigerians and they see that they are doing you a favour

Besides, the wise Ghanaian doesn't know that you will not pay the transportation fee in dollar from Seme to Ilakoji, Ilakoji to Aflao or Seme to Aflao direct.

The wise Ghanaian doesn't know that cefa or naira are acceptable from Nigerian border to Aflao.

The wise Ghanaian doesn't know dollar will not be accepted as a means of payment from Aflao to Accra, Tema or Kumasi.

Even with dollars at Aflao, I go still need to change it at the border to Cedis from 419 exchangers.

Just30:
who even exchange Naira at the border?
The problem with you Nigerians is that you always act dumb. How do you travel from Nigeria with Naira in hand when you should know that the international denominator is dollar?
The guys who always exchange Naira at makorla are Nigerians and they see that they are doing you a favour

Chai! I thought you said the exchange rate 'IN GHANA' is the same. ..

We thought you said GHANA IS a more organized country hence the need to bring the naira expecting to meet organized and honest people but behold na 419 organization dey 4 INSIDE GHANA.

Is Aflao part of Somalia?

Just30:
What Do You Think The Exchange Rate Of Naira To Dollar Was When You Redraw Your Money Around That time?
Because this is what the banks do , the converted your naira to dollar at an exchange rate on the parallel market in Nigeria which was around 500 plus at that time and there was huge speculation because your naira was still depreciating . After was they converted it to Cedis using the cedi dollar exchange rate

I don't know what you were expecting to get
All I know is you wanted more

See excuses.

vaxx:
interesting . where in ghana forex bereau you change your naira to cedis apart om black market. Tudu and circle area. Ghana is a dollar country not cfa like nigeria. I know the business trend so i can explain it better.

Now, you have buttressed the fact that the same way exchange rate varies from Cbn, Bank and black market is the same in Ghana. Don't come here and pass wrong information. ..

Just30:
I mean from a forex bureau

So, you mean there is no black market in Ghana?

Just30:
there's nothing like black market in Ghana except when it comes to the naira because that is the only place it can be exchanged

Is Aflao part of Somalia?

Just30:
sorry guy
No bank or forex exchange Naira for anyone.

Your government blocked the use of Nigerian ATM cards outside of Nigeria since last year.
I know this because I have this Nigerian friend who hasn't been able to use his till now . He returned to Nigeria ,last week.

You will never get a stable rate for the naira when your currency is not even stable .

Advice for you, exchange your naira to dollar in Nigeria before coming to Ghana because everyone who desire to exchange the naira for you will add something to it for insurance

Of course, I withdrew money at the atm in the University of Ghana a day before the Nigerian government blocked it. That should send a signal that I know your exchange varies from places to places.

Dollar to Cedis na still the same thing. I remembered I had an encounter with a money changer some years back. After changing the money, he traced me to the bus going to Tema because he said the exchange rate changed as soon as I left him.

Wetin consin me, I ignored him and he was rebuked by my co Ghanaian brothers.

The koko is, dollar's rate dey change for places.

Just30:
I exchanged 245 dollars three days ago at the forex and it was the same as the bank rate

Why don't you stop telling lies and face the fact that
It's a mess in Nigeria

You will be deceiving yourself if you think Ghana is better than Nigeria.

Just30:
I exchanged 245 dollars three days ago at the forex and it was the same as the bank rate

Why don't you stop telling lies and face the fact that
It's a mess in Nigeria

Do you mean black market?

Just30:
in Ghana,
If you earn 2000 cedis you can live an above average life. Even though you won't qualify for a mortgage.
Yet she can afford every single thing she want
Without falling into poverty for the rest of her live cos she's got sense

Of course, I know with 2000 Cedis you can live an above life in Ghana.

In Nigeria, 200,000 naira is very good depending on the city.

Just30:
the exchange rate difference at the bank and the forex is just 5pessewas

Not as extreme as in Nigeria

At the border, people only take advantage of you

Na lie. It is more than at the parallel market even inside Ghana.

Isahalbash:
D tin use style make sense, but how much is d pizza( in N or $) and ordinary coke?

No mind d guy. He think say na mumu em dey follow talk.

If he tells you the prize you go know say their minimum wage na..

vaxx:
that is not true. border rate is diffrent from city rate. border rate base their rate on currency demand not on bank rate. dollar at border may even be over valued or down value depending on the demand.

ghana exchange rate is effective througout ghana cities. nobody will change naira for you at forex bereau. you can only get naira rate in makola.

ATM will charge you for service have you forgotten. am not in ghana now but the last time i checked the bank rate is the same with tudu rate. a place in accra known for black market business. in ghana no one go against BOG. Except on foreign business like western unioun ,afri cash and so on

You can't deceive me because I have been to Ghana more than 50 times and I have exchanged naira to Cedis at the two sides Aflao border(different rates), at Community 1 Tema, Mokola, ATM etc.

I know they all have different exchange rates. So, stop telling me Nigeria exchange rate is blah blah blah because I sabi wella.

vaxx:
actually you did not get the fact. before the old currency was redonominated to smaller volume. it was not intended to fight inflation . the exercise was meant to reduce the volume of large paper money. In 2007 when the new cedi drop. A 100 dollar is equal to 92 ghc which is the same as 920.000 old cedis

cedis is stable for the past 24months therfore it is strong at least compare to naira or shillings even cfa curreny. there is infation in the country as a result of goverment expenditure but infation has help to increase more productivity. Companies are increasing their production and business are enlarging their cost to cover the gap.making ghana suitable for business.

the current govt administration is very clever toward the stability of cedi. you can check cedi performance record from january

That guy said it as it is. Inflation was the problem, imagine buying sachet pure water with big paper notes.

Paying for Coca cola in thousands of Cedis notes.

PissedYagami:
non oil vs an oil economy. See the difference ?

So, what is gold and the other mineral resources contributing to Ghana's economy?

Just30:

How much is a dollar on the black market?
Yesterday, a Nigerian quoted 520 naira to me
Multiply 520 by 465.93.
You will get the real effect of her salary

Naira has appreciated tey tey to. 304 naira official price, 314 bank price and 375 naira at the parallel market. And it keeps appreciating.

Where did you get 520 naira?

Multiply 375 by 465.93 =174,723.75 naira

Yes, in Nigeria you are ok but in Ghana where inflation is the order of the day. Mbanu!

vaxx:
if i can say. nigeria currency exchange is sick. there is always a diffrent price. from black market rate to bank rate. even some financial institute has their own rate.

nigeria minimum wage is currently 18000 naira that will give you something around 45 dollar in black market as of yesterday base on 378 or 380 exchange.

ghana earn more in wages. there is also a debate in parliament to increase the wages.

nigeria can do better i accept. but currently ghana is taking the lead.

Same goes for Ghana currency. Exchange rate at the border is different from the exchange rate in Tema, if you go to Accra the exchange rate is also different.
This in regards to black-market.

The exchange rate of Ghana currency is different in Ghana banks.

ATM exchange rate also is different.

Which of these exchange rate did you use to arrive at 60 dollars as minimum wage in Ghana?

For now the I will use the Nigeria's official rate of 304 to arrive at 59 dollars as minimum wage.

No ojoro.


On this, Nigeria is far better.

Just30:
800 Cedis is more than 80,000 naira and 1,200 is even more than 80,000 naira

800 Cedis is never more than 80,000 Naira. 1,200 is 120,000 naira.

200,000÷3= 66,666 .

Meaning her salary is worth 66,666 naira due to inflation and the fact that Ghana is times 3 more expensive than Nigeria.