₦airaland Forum

The Central Bank of Nigeria has issued a circular instructing commercial banks to sell dollars to Pilgrims going to the Hajj at an exchange rate of N197.

The Central Bank explains that the sale of the forex will be funneled through commercial banks who are then mandated to sell to pilgrims at N197. Pilgrims are expected to purchase a minimum of $750 and a maximum of $1000 per pilgrim.
he circular also reveals there are a total of 65,197 Pilgrims, thus the CBN will sell as much as $65,197,000 assuming every Pilgrim buys as much as $1000 each.

Nigeria’s official exchange rate closed at about N315 which suggest that this sale could cost Nigerian tax payers about N7, 693, 246,000 in exchange rate loss (based on 315 -197=118).

This is not the first time the Central Bank is selling dollars to Pilgrims at a subsidized rate. Last August it also sold dollars at N160 at a time when the official exchange rate was about N197. Only that this time, the disparity is wider.

The implication for Nigerian tax payers is that the government is now incurring this sort of expense at a time when the economy is likely in a recession and millions are finding it hard to feed themselves. It is also at a time where the Nigerian government is running cap in hand begging foreign investors to invest in Nigeria so that we can boost our external reserves.

It also calls to question suspicions that government officials may be getting travel allowances at a different exchange rate from what is obtainable at the official interbank market.

The Central Bank of Nigeria floated the Naira on the 20th of June 2016 following a year-long policy of holding the exchange rate at a fixed rate of about N197/$1. Since floating the naira, the exchange rate has depreciated by as much 60% at the interbank and over 100% at the parallel market. The dollar closed at about N400 at the parallel market on Thursday.


http://www.vanguardngr.com/2016/08/2016-hajj-sell-dollars-to-pilgrims-n197-cbn-authorises-banks/

[size=20pt]CAN SOMEONE PLEASE EXPLAIN TO ME WHAT THE HELL IS THE WORK OF BOARD OF TRUSTEES.
THIS CLEAN UP PROJECT WAS "COMMISSIONED" MONTHS AGO BUT SO FAR, NOT A SINGLE THING HAS BEEN DONE.
PERSONALLY, I SEE THIS AS ANOTHER WAY TO REWARD HIS CRONIES.


My only fear is that buhari will rig the electoral process in 2019 and there would be massive bloodshed in order to keep him in power.
Jonathan was never an option to me but Buhari is 20 times worse!!![/size]

madridsta007:
Clap for yourself. A 13 year old child knew what she was doing.

May God have mercy on you.

where did it say a 13 year old was trafficked

This is 042ar83e.

[center]They got *t*[/center]

KAT*<!>

aLPha<1>

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Tunababa8v:
Ex-cultist spotted.. Mod do your job

Yes!! An ex cultist that partied and smokes his way through school. Made a 2.2, was jobless for sometime, paid his dues and got his life together. Now a multi millionaire with Forbes list ambition. Got a problem with that?

I vote falconey cc: Nljega

See the way all the girls dey call am hunny pie... Lol.
He was probably a bucaneer.
In all honesty, i condemn cultism and all that comes with it but i also understand that its all part of youthful exuberance.
Smoking, drinking, partying.. we all made those mistakes and then outgrew them and got our lives back on track.

A good percentage of guys in public schools belong to one cult or another. That doesn't mean they are bad people. Just means they are misguided.

I will always discourage people from joining one but if u happen to find yourself in one, please no carry am for head.
Bully all those small small boys but never ever go robbing, kidnapping or rape a woman or carry concealed weapons in public.
Once you start doing the aforementioned, then your days are truly numbered.

Just party and drink and smoke and when u graduate with your 2.2. or third class, your eyes will clear and you will be begging for a second chance to set things right.

I vote Falconey Cc NLJega

My friend's dad who's in his 70s has been missing for months now!! He left his home in Ilasa (Lagos) and never came back.

Somethig is going on in Nigeria.
So many heinous crimes are going unnoticed.
I wonder what they do with these old men.

nawaaa

[size=15pt]14th most influential leader on SOCIAL MEDIA!!
is that something to be proud of
Omashe oooooo!!![/size]

i really do not understand the press release by LUTH.

1- They said Mayowa is an old patient of theirs already on treatment for another ailment??

what i understood from this is that she was misdiagnosed and was treated for different ailment instead of cancer for a very long time.
The family discovered it was stage 4 cancer after getting diagnosis from another hospital.

2- This 31year-old lady came into the Private Wing of LUTH on Monday, 25th July, 2016 with a history and clinical features of an intra-abdominal mass. The family and the patient brought along some results of laboratory investigations ordered and done from outside LUTH.

They only knew she had cancer or "mass " after she was diagnosed by another hospital.

Why in the holy hell would the family continue treatment with luth if they weren't able to diagnose the right disease in the first instance?
Now they are saying they wanted to conduct another batch of test?? I believe this process will take another couple of months and its obvious every second is crucial for mayowa.

3- the family however requested to fly Miss Ahmed outside the country barely 24 hours after her admission in LUTH,
So, basically they have been treating her for a mis-dagnosed ailment for a long time and only admitted her after they came with test results from other hospitals.

Nigerian public hospitals are a disgrace.


Come on guys, let's be real here. Most of us will go above and beyond for the people we love. I wouldn't wait for any quack doctor in a public hospital to give me diagnosis before making my own moves.

I don't see any scam here.
Besides, why should a hospital disclose patient's case to the whole world?
Where is the doctor-patient confidentiality?
Bunch of quacks!!

fiizznation:
Well is a privately owned company, so the employers can employ whoever they want to employ for any position. Is nobody's business.

in the united states, this is a law suit waiting to happen.

Denying anyone an opportunity cos of their race, gender, age or disability status is a punishable crime in upwardly mobile countries.
Regressive practices such as the one advertised above can only be found in Africa.

HungerBAD:
Plenty of Asians there.

So no big deal.

This is discrimination.
When you offer a position on the basis of skin color, then that is discrimination.

This is funny and sad at the same time.



http://spankthedonut..com/2016/07/what-do-you-think-about-this.html

Get rich or die trying.