₦airaland Forum

Typing:
The approved CBN BDC na still Aboki

No...i know Yorubas and igbos that have BDC licence in Lagos.

richiemcgold:
Yea.
Whenever I land in town, that area is my first point of call. I know many of those mallams very well, some as far back as 1998, and we're still doing business till now. So I just dey wonder why Ondo is not on that list. How come?

Since you have relationship with those mallams, ask them if they are registered BDC.
The government only have records of registered BDCs.

Yampotatocarrot:
Now, I love this, unfortunately, there's no where in the report that talks about arresting those street dollar hawkers

Also, what if those guys are actually working for the licenced BDC, does that still make them illegal?

I'm seeing everyone comment as if the street hawkers are illegal... What if they're actually working for the registered guys? Will it now be a crime to recruit "marketers" to sell for you?

This is the perfect answer to your question.
Today, 2 unregistered BDC were jailed in kano

https://punchng.com/kano-court-jails-two-bureau-de-change-operators/?amp

DeLaRue:
Some of these people have been in this trade for years and even decades.

It is all they know. It won't be easy for them to give it up.

I wonder if the government could offer to retrain them in another line of business whether that would help them.

Why didn't they acquire BDC licence since...The smart ones among them have BDC licences.

Yes..this is the reform we are talking about... Exchange currency by the road side at your own risk.

May their souls rest in peace. We won't play dirty politics with this because it happened in Anambra.
We are humans first

Tareq1105:
Obi is supporting hawkers of dollars. He said government shouldn't arrest them. You don't need anyone to tell you that Obi is a stupid man. Very stupid man who doesn't know when politics end and when governance begins. Unfortunately, his gullible worshippers were backing him except few ones that disagree with him.

Tinubu is ready to keep those Licensed BDCs but those Agbero dollars standing on the road would be arrested and prosecuted.

It's unfortunate that Obi will be playing politics with everything to the extent of deceiving his followers.

onuman:
BDC normally deals on small amounts of cash exchange

Currency traders on the streets should have been totally abolished.
In Nigeria, Currency trade is mistaken for BDC.
That's what makes Nigeria's street to fix the value of the Naira against the Dollar and other currencies.
Trade of currency on the street is a most primitive act

Now, anybody they see on the street selling or buying dollars would be arrested and prosecuted.

Don't let us forget that it's easier for these so called unregistered BDC to finance terrorism.
Every transaction by the registered BDC will be documented.Any politician wey use stolen go buy dollar will have his records taken.

AntiWailer:
No be street traders EFCC go raid wey Una twitter president dey say na BDC ?

Did CBN license anybody to stay on the road side and be trading money ?

They are unlicenced BDC.They are middlemen.If you trade currency on the street now, you can be charged for money laundering.Now the CBN don't want middlemen to trade dollars again.If you go to Yaba or Shitta now, im sure you will not see them on the street.

These is the reform we are talking about.
God bless Nigeria

123yes:
This is the official ones. Unregistered ones subpass these official ones

The unregistered ones are touts and can be prosecuted.We don't want currency traders in our streets again.

glacswhite:
Wait ooh.. Why is it that children here are telling the stories of what happened when they were never born..

If Nigeria Liberated the South..

Why no working sea Port
Why no International Air port
Why no right to oil
Why no Federal projects
Why no grade 1 hospitals
Why no Good University
Why no international market
Why no International Stadium
Why no Good drinking water
Why no dry inland port
Why no scattered Refinery
Why Lands in south are for only Spillage
Why no MFBs for SMEs

Why is there absolutely nothing in so called SS..

Where u guys liberated or Enslaved?

Why did USA President give different story ??

You guys should stop embracing laziness n Hatred n think with common sense

Onne port is working fully.
Port harcourt airport is an international airport
Is Uniport not a good federal university?

SS even have NDDC and ministry of Niger Delta.

pansophist:
Yes. You're right. Doing business is very expensive, and the government do everything possible to make life difficult.

I fly often for Cotonou, and as at last year, I bought a direct return flight to Paris for 450euros. You can't get that in Nigeria.

I think our government still sees air travel as a luxury.The local flights too are not spared in all these excess taxes.How do you do it from Cotonou and you aren't harrassed by their immigration?I may consider flying from Cotonou.

O ti run zeh...zazzu

gforce5:
Yep! I only fly BA if i don't have any other choice. It's a scam. You pay so much just for economy not even premium economy. They need to do something about the tax rate. It shouldn't cost this much for a 6 hour journey.

I think the high tax rate is from Nigerian government.Ive heard people say that flight ticket is even cheaper in Benin Republic.

Dtruthspeaker:
Refusal to work called absconded is also a type of terminstion and every person has a right to terminate his work and cannot rather should not be punished for it.

If only Nigerians would learn that rights do not come from men,

What of if the company said she went with office property? Anyway, it depends on the job role..A policeman, soldier or banker can't abscond from duty without declaring him or her wanted.

Queengee:
really so what's the way forward

You have to go to the company and sort yourself out for your good so that it won't look as if you absconded.

Massiveglory:
No be only omoku, it is ondokun.
Geometric is Nigeria's only independent power project generating and distributing electricity.

Continue bragging on top lie

Massiveglory:
Geometric power project is Nigeria’s only integrated power project.
It is Licensed to both generate and distribute electricity

Nigeria has one of the best brain in the world in matters of power, in Prof. Barth nnaji but tribalism , nepotism , useless politicking and stupidity has kept the natoon in darkness.


Nnaji also revealed that if the 188-megawatt Geometric Power Plant in Aba and the Aba Power distribution company in Osisioma Industrial Layout had been situated in Ikeja, the Ilupeju Industrial Estate in Lagos State, the Agbara Industrial Layout in Ogun State, or somewhere in the vicinity of the Federal Capital Territory of Abuja, they would have been more profitable ventures.

“The return on investment would have been quicker and bigger (in these locations)

Nothing can give as much fulfillment and satisfaction as working wholeheartedly for your people,” he added.

End of story.

Is the one in Omoku not integrated power project? What's your source ?

TooMuchStuff:
It remains CONFAB 2014 REPORT by GEJ the Great

Calm down.. One step at a time

Flying virgin or BA from London to Lagos is from £700

One of the reasons for the high cost of flight ticket is high tax.
The exchange rate is part of it too.

crestedmazi:
He fell into their hand again, the north wins again .

Whenever they make such win at the center, the country is pulled 5years back into retrogression

You no nothing..The government has issues with unregistered mallams by the road side.(touts)These registered ones have operational guideline given to them by CBN.If they do anyhow, CBN revoked their licence.
Mind you, I know many Yorubas and igbos that operate registered BDC..

Xwizard:
Omo this guy don suffer I swear, na that werey wey dey Finland get brain pass

The guy no go ever leave Finland again

aribisala0:
Really ,since when?

I noticed last year July.
The itinerary is Manchester to London to Lagos
You are not paying extra...Check.the attached

aribisala0:
I think Manchester will be more lucrative than Gatwick.
There is no competition there

There is virgin from Manchester to lagos

dettolgel:
I am not saying that they are all registered.

The other question you should ask yourself why does anyone go to them in the first place?

If I recall correctly there used to be a time that if your want to travel or need tuition fee or pay for importation you will have to go to the bank and the bank will process it through CBN. The question is why ain't this possible?

If CBN fulfil these needs I can guarantee you that road side Mallam will die a natural death.

To the point that they control the economy that is entirely wrong. Because in your own ascertain you stated that if they are stopped their activities will not affect the Gdp and the economy how come their presence is affecting the economy - this sounds contradictory to me?

The government is not saying you can't transact with the registered ones.The government wants them to be regulated and have records for their transactions. This is good for our national security..For example All these kidnappers that collect 100m, 200m ransom are being exchanged for dollars easily because there is no record of it..These kidnappers are just keeping the exchanged currency somewhere without need for it and this is making it difficult for genuine business men have access to them..

dettolgel:
There are still unregistered business going on in Amsterdam but I get your point.

My point is that destroying existing business that can be legitimate isn't the best way to go given that we have very high unemployment level.

Find a way to have them registered and regulated

These guys on the street know they are illegitimate. The legitimate ones amongst them have their offices. They are harmful to our economy and to our security. They encourage money laundering.The government wants transparency from them. They want to be registered, they would have registered their businesses since.These guys on the street are the currency speculators..They will give Tunde a different rate from what they will give Ada at the same time..

That is if we don't allow gbarebo to be close to Alausa

dettolgel:
If your problem is selling things on the road side then most businesses in Nigeria should be closed.

Come to Amsterdam or go to Antwerp you will exchange money off the street. Granted not like they line up in Nigeria case but they are there operating.

You never leave your house how you wan take know how the world works.

Do you think those in Amsterdam or Antwerp are not regulated?
CBN is saying no street trading of currency.The guys on the street are not BDC if you don't know.They are illegal 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.

This your suggestion will make it difficult for the CBN to monitor their activities.They don't want street trading of currencies again.CBN want records of their transactions.CBN wants rates to be displayed publicly in their offices .Will those on the street be able to do this?

MikoB:
There is no place in any developed country, that you will find trading of foreign currencies carelessly on the streets like in nigeria, both registered and unregistered, illiterates etc, that do not not even know the basic knowledge of economy are allowed to free-trade the currencies in nigeria. I am in support of clamping down on the street trade and I am suggesting apart from the airports, every other currency trade should be down in the banking hall, every bank should create a space for a registered bdc transaction for a better monitoring.

It even makes it better now that the rates of BDC will be publicly displayed just the way banks display their rates in the banking hall.Unlike when Adamu will give different prices to Kunle and Chioma.
The real BDC owners are not the one we see on the streets.The ones on the street are like the middlemen and street trade of currency gives room for round tripping.Nobody checks their activities.
Now that CBN is stepping in, currency trade on the street will be an offence.

Should we say they are using this project to teach those that didn't vote for APC a lesson?

Since you are a fresh graduate, I will advise you take up the job and put in your best.