₦airaland Forum

EmzyEno:
I no understand

u wan buy am? Or u wan shoot money inside?

EmzyEno:
Urgently

e Dey! No login

JMG12:
Yes, you can whose company is it?

it’s a private Company, But my Dad is part of the managers there, and can I support it with land documents also

JMG12:
Book your appointment from VFS. Although people are finding it difficult to use it now clear your cache and try it or use a different browser incase you are having problems.

Hello, pls can I use a company Account as proof of funds, or what other ways can be used to provide Pof

JustMellow:
Hello Prettytasha,

Check if you can use LemFi. It is an app that allows international students to send money from their local bank account around the world including Nigerians, to the wallet to initiate tuition payment.




Best Wishes!

Can I send from the Bank directly, Like from the accountant

Frankrobbn1:
I totally get your concern about using your sibling's bank statement as proof of funds (POF) for your application. As an immigration expert, I can offer some precise advice based on your situation.

Typically, when using a sponsor's bank statement as POF, it's important to show a clear and documented transfer of funds from your sponsor's account to your own account. This helps establish that the funds are available to you for your studies.

It would be a good idea to have your sibling transfer the required living expenses funds to your own account and also present her own statement as the sponsor. This way, you can provide evidence of the transfer, ensuring that the funds are clearly documented and traceable.

Good luck with your application! 🤞✨


It will end in praise

Hello, pls can I use a company Account as proof of funds, or what other ways can be used to provide Pof

Trillyonaire:
As recently as 2012, I could spend up to $40,000 in a year on my Naira card.

That covered most of my personal and some business fx needs

I can count how many times I purchased dollars then,

It was only to do transactions that needed wire transfers.

Now for even a $10 transaction I need to go and buy cash dollar and the banks are not giving that.

It's clear where most of the demand is from.

Let banks revert to what it was, it would even be easier for CBN to monitor FX usage that way

The blame trading is not going to fix anything. I remember changing dollars sent from abroad for about 80 naira with the same street traders during the military regime. Why is it all of a sudden in 2024 they've become the problem?

Can I send you a message sir

Eraytee:
Thank you, there is no need to liquidate the assets, our case was different because the application took so long and I feel the VO needed to confirm if the funds were readily available, the reason for the request. so if what you are showing as POF as at submission covers your living expenses and tuition, there's no need to liquidate any investment.

As for the Pof, If I’m using a sponsor bank like a company account and Available land properties documents will that be enough

They should first stop Dollarization goin on

Good

EmzyEno:
U sure ?

Abeg if una don confirm, come tell us abeg

Lol Nigeria stress dey pursue people, hmm

SalamRushdie:
A country where people trade naira on the road under guise of POS?

very wrong on all ramifications, but n/l not ready to get this to front page

When is the moderator gonna take this to front page now

PARADIZEPRIEST:
LONG ADVOCATED,THE MALLAMS ARE USING IT TO SAY THEY ARE VICTIMIZED,BUT THIS IGNORAMUS ANNOYING ILLITERATE GUYS WHO ARE DISTROYNG NAIRA VALUE BY COLLECTING LAUNDERED MONEY FROM CRIMINALS DRUGS AND ILLICITS TRADES TO CIRCLE IN OUR SYS. DOLLAR HAWKING IS EVIL AGAINST NIGERIA ECONOMY ,IT MUST BE STOPED,LET THEM SELL CURRENCY IN REGISTERED GUARANTEES BDC COMPANIES AND DOCUMENT IT TO EFFECTIVELY HELP CONTROL OUR NAIRA VALUE DEFENSE. cardoso is trying hard,kudos!

Best believe, we have no other choice than that

john1101:
Nigeria problem I always tell people is easy to solve we just need to pick the right people out of over 200 million heads, our rulers now including security and legal system are old and clueless. They think because they are crooked of people blood they are exemted but when calamity hit close to them they scream God why me, disregarding judgement after death.

Another headline, we are in a Big mess. Why moderators no wan move this to front page

Nbkay23:
Mods pls help us repost and get to fp
(Moderators: dominique, FOD, puskin, naijacutee) Fynestboi

Let’s get the people to know what’s happening, the economy is failing we need solutions
(Moderators: MissyB3, Fynestboi)

Kelklein:
You have a point.. the only problem is that even the Banks are crooked.. they get Dollar allocations too like the BDCs but they hoard instead of transacting with them..

The EFCC is trying to clean up the system of street-trading and we can only implore them to sustain the monentum.. it's going to be hard tho. They deserve some commendation for the little they have done esp in Zone4 Abuja.. that place used to be a free-for-all but there is some level of moderation now..

An analogy is almost like those that trade fuel on the road. It is those who need them and patronise them that are encouraging the trade. If nobody is buying, you won't see them on street.. but then you have to move your car from A to B and the fueling stations have endless queues or no fuel sometimes..

The wayout is to boost your foreign reserve via exports and productivity, and discourage the need for Dollars as much as possible.. Productivity is a double edged sword.. because it makes Items people would pay dollars to import available locally and earns you foreign exchange when you export excess to outside country...

the government only pay lip services to banning transactions in dollars in the country. People still pay their wards school fees in dollars.. The political class are still converting their loots into dollars on a daily basis.. the EFCC and NFIU needs to device a means to nip money laundering at source.. but again the Banks have not been helping..!

Nigeria is wild..

it still has to be the bank to do the job, they can Use BDC’s slots to make that available, for instant, The banks don’t have the right to hoard cash, it’s like the banks are managing the accounts for BDC’s, so if the BDC’s says there’s available cash, the bank don’t have no option but to sell, Don’t get it wrong, the BDC’s are still incharge but it will be run by the banks, There will still be daily disbursement of cash to Each BDC’s slot inside the same Bank, Just that There has to be a balance sheet like the Accountants does, so we don’t be deceiving ourselves, I think that is still better than the street vendors right now.

Updated!! BDC’s should be removed completely from the Streets, No more streets trade of Dollar! Let transactions be made in The bank from different BDC’s slot, we need Accountability and Transparency, Simple, Naira will be stable

Let’s get this topic to th Front page, Moderators

It’s no longer news how Dollar is skyrocketing in our Economy Nigeria Today, and the Devaluation of our Naira, well I’ll like to share my own 2percent on the situation.

Considering the fact that Nigeria only spends naira, But the availability of dollars to some, in the economy is Devastating. These are the Big business corps, BDC’s operators and Particularly the Government. The reason for our currency devaluation, here I’ll tell you now..I’m an economist and a part time forex trader, so believe it what I’m telling is true.

The Cbn exchange dollar thru the Bureau d change to the public, the way they do it, is By releasing Dollars to particular registered BDC traders as they claim, Dollars is released to this Individuals to sell to the General public daily, What these people do is, they sell at a particular rate and increase the rate so as to Have some dollars left in stock, By hoarding them, They come back to the bank next day and deposit naira, Saying Demand of Dollars is High, Next day collecting of dollars take place in the Bank again, the bank doesn’t have a choice than to increase the rate cos the rate of return is Low in Value, Definitely business has been done and profit has been made. The issue is Why can’t the CBN put a stop to Street Trading, Aboki’s calling people dollar, dollar on the streets and Devise a Means of Transaction using the Bank for Transparency while Dealing thru the Accounts of the BDC’s, this way you can avoid Laundering of money, illegal transactions and Consumption of Government funds, Most Politicians in Abuja prefer to use the Bureau d change cos it’s a seamless way of Transaction, No one can hold you, No amount is too much, Infact the bigger the amount the Better they friends with you. Street transaction of Dollars is still the same as Spending dollars in the economy. You won’t see other Countries allowing other currencies to be Transferable in the Streets, We have to put a stop to this Menace if we want to save this Country from Collapsing , Using Debts to hold the naira is not the way, Defunding the Banks of Dollar deposits is not the way, Defunding the crypto holders is not even the way, We have to let Transparency and Records take control of the Exchange system, Not in the streets, But banks. Slots can be made Available for Preferable BDC’s Vendors, And Stop Doing Business with the Economy

Below in this picture is a woman walking Pass the exchange Board in Tokyo Japan, You can Visibly see the chart