₦airaland Forum

masseratti:
oga if you are a troll and don't understand what am saying don't bother quoting me, yes 2015 you can't do any FX transaction if it's not via transfer either bank transfer or electronic.

what is painment? That CBN didn't let you trade currency notes instead of commodity or hoarding notes because you wants to make profits which makes it run inversely to the naira and detrimental to your countries economics?

masseratti:
i didn't lose money to any hacker, CBN stop receiving cash or paying put cash in $ to anyone, you have to do all transactions by electronic transfers, that led to spike in rate, and I lost money buying $ and selling $ because of their policy that time.. Alot of people went out of business, people couldn't pay school fees abroad until govt CBN revised it self like 6 months later. As to your question.. It's just to make profit that's all.. Same way you see fuel black marketers making their margins, that's d same way people hoarding $ also operate.

Did you say CBN stopped all banks from receiving dollars? Buying and selling and receiving dollar notes without a mobile app should be an illegal transaction. The high unstable conversion rate are caused by people who buy the dollar notes.

masseratti:
they tried that in 2015 I lost my business because of that policy, it failed woefully, no way you can stop cash dollars from coming into the Nigerian economy, that time the loop hole was that some smart people open various accounts, collect so many people atm cards, travel to Dubai and every day dey withdraw $100, after the have bought the $ at official rates "electronically" they now transfer to other peoples account as much as 50 to 100,thats least $5000 daily, after a week or two they jump into the plan and head back to Nigeria, sell at the black market rate.. They made a killing.. While I lost over 7 million naira business that time has $ went from 157 to 210 I think that time.
My brother in short that your method won't work.. Until they just abolish the I & E windows and buy and sell at parallel market rate.. All this they are doing is just to post pone the evil day

Apart from selling currency, which other commodity market do you need dollar to operate?. And about people's money getting lost in their account, that's a cyber security breach that should be reported to your bank immediately besides the hacker will need your pin and password to access your bank. My question is why do people need to buy and hoard the dollar notes when they are not buying any goods if it is not another fraudulent scheme to carry out fraudulent activities. Buying bank notes should have long been abolished to avoid inflation besides it adds no economic advantage or payment of tax other than devaluing the naira currency.

Americans are like west Germans

BoldBrainz:
Your understanding of Nigeria's economy is depressingly shallow. If you're put in the position to oversee the affairs of this country, our economy would be on its knees in 2 months.

You have no business being on the internet, you are so full of deception. I believe you finished off from primary school after learning sentences and believe you are worth arguing topics you have no experience about. You think economy starts and end in the office or your bedroom. Fyi economics was my best subject in school and I got A results from it so specifically i know what am talking about. All what you sat on your keyboard to argue is don't bring in economic and production, dollar values will automatically boost the economy with no consideration for economic chain.

There is nothing like social register, states government wants to loot the palliative so there is no point paying them. You won't believe those crook heads can sit down and draft over 5million poor homes yet not even a single home has a valid name not even from their family

BoldBrainz:
Under any circumstance, the CBN doesn't need to print more money. There's already too much paper naira in the economy.

Why does it need to borrow dollar if it doesn't need to print more money to stabilize the currency. Too much money doesn't mean it is in the wrong hands, it is simply in where it is supposed to be that's why the CBN was established . There are many times when the naira is in shortage for trade even the lower denomination. There is no point transacting with dollars in Nigeria because it will lead to high dollar demand and a diverging currency.
Remember not printing enough money means devaluing the currency as some notes becomes worn out if you understand economic, shortage of transaction and when the lower currencies is in obsolete, the manufacturing industries won't produce goods for that worth as an example and even local traders and manufacturer gets shortage of resources and money will generally not be in circulation.

CBN needs to print more currency, stop direct dollar transaction within Nigeria every transaction must be in naira unless electronic transaction and improve export, that way there is no demand for dollar, the naira becomes stable and a high inflow of forex.

You can see the development of these countries when compared to Nigeria. How do you expect hungry workers to serve with all their might with a weak currency and a high level of inflation. Leadership have really failed us in this country whether due to greediness or unpatriotism.

Big congrats to him. I love to play in Saudi Arabia too.

Tinubu is already a top flop.

Tinubu is raising warheads from left, right and centre and his blind supporters are quite clapping hands for him until the repercussions hits back. Nigeria is not the richest country in the world but it has abundant natural resources abound. Instead of fighting people's business why doesn't the fice government bring in investors to build the manufacturing industries for this natural resources. I hope he his also fighting these wars in his home region of southwest and not trampling in others homelands. You don't expect people to sit idle after loosing their farmlands and houses to oil spillages.

Crime and drugs is never the way out.

The woman is getting old.

Great news, others were busy harassing people.

Quite an interesting way to reduce unemployment and increase wealth for Nigerian artisans. Am sure a whole number of them would drove in there with their families but the sure thing is to send money back home to help develop and build it for the future.

say no to mental and emotional abuse

What is NFF job again

NFF is suppose to develop indoor and outdoor football sports and its activities and developing new football venues not dragging the money they suppose to develop with players

a4cube:
You Still de mumu the go. Airport is different from Airspace.

Big head olodo, what is your point? what did you end up explaining? that Nigeria shares Niger airspace? You really ignorant, it is your type who argues with a teacher even when you have nothing inside your brain.

Hate foreign intervention, they finally got independence from France and now they can steadily rebuild their nation. One of the poorest country yet France that was milking them dry could not help develop it.

Why does she wants to represent Nigeria? Because the Australian team have rejected the racist slur! Nigeria would rather struggle than let her compound to our woes.

a4cube:
Another mumu in the form of hallinues. Nigeria get una plenty that's why the country is upside down.

you have an incurable disease, else explain to me in details how the transportation business of another country directly affects another without the rise in a foreign currency

Give him the Guinness world record already he has been competing with his shadows.

The two biggest economies of Africa has the highest rate of unemployment.. busysinging

not necessarily so, it is people traveling out of Niger that would have high flight cost, no flight stops by Niger to get more passenger. Rather people traveling abroad will need to use Nigerian airport to travel.

Stupid politics, my state did not receive it

we need to encourage more young women to pick up an healthy lifestyle at their very young age

The highest form of racism is in Europe, you always hear horrible news now and then about their inhumane behavior towards Africa. Their presidents and leaders would pretend to know to know about this.
Seems these countries needs proper education.

I wouldn't mind serving the country in a big capacity under president tinubu, so keeping my fingers crossed for possible vacant position to fill.

who can count how many common nigerians have lost their lives to medical negligence in the public health sector, ranging from striking to no medical attendant and medication especially in federal govt own clinics and hospitals. People who have being in public office have no reason to play victim since they had the opportunity to change the common problems of the society but they choose their pocket instead leaving their coming generations to face the consequences.

Nigeria wants to impose who rules another country. Na wa for corruption, tinubu nigerians didn't elect you to meddle in external politics and pesting. Leave Niger alone for the USA let them handle their politics until human rights abuse sets in then the world power can sanction them. Remember USA didn't succeed fighting Talibans and rebels in Afghanistan even with their sophisticated weapons.