₦airaland Forum

SexyBabe001:
So you skipped the part of the news that CBN is returning their money?

How many times will the CBN call them to order? These guys have become a cabal within the dollar clime and also who goes about acxessing dollars from the black market in this time and age?

What happens to getting your dollars from the banks? Why the BDC?

SexyBabe001:
The best decision ever made by CBN.

These BDC guys are criminals and very greedy. You are buying from CBN at 393/$ and they supply you $20000 weekly yet you will sell to the public at the rate of #500-505 and you said God won't punish you people.

If not for the wicked and corruption of our bankers and those bank managers, what's stopping us from accessing dollars from the counter or better still let CBN peg our ATM with $1000 monthly and see BDC die a natural death. The reason why people are going to these folks is cos we can't access the dollar from banks. Bank managers have formed a cartel and sell to BDC to make profit.

I hope Emefiele remains firm and focus in this. In this time and age we need to be responsible and be proactive. Let all bank branches be selling dollars not the abokis and the BDC they are the ones hoarding the dollars and abeiting money laundering.

For the first time, kudos to CBN.. Let's hope banks won't play smart.

Any banks that default in this I suggest their licence seized for at least 8 months.

kayjay69:
for the first time since his appointment, Mr Emiefele has finally summoned the courage to do something useful in his job role as CBN governor.
those who are complaining about this move either do not have a complete knowledge of how these BDCs operate or are just plain mischievious and stupid.
this is a good move and should be commended and i never saw this coming truth be told.

TroubleMaker47:
Dumb government!
If you claim that the BDCs make so much profit from selling dollar, how come they don't regulate the BDC market the way they regulate PMS sales?
Any operator found wanting would lose his license and 35 million operating fee!
What's so difficult in implementing that?
Instead they chose to cut off the head because of a headache!
This is throughly a government of kakistocracy

TroubleMaker47:
So erring operators are now above sanctions?
Even when they have 35 million each domiciled with CBN?

SexyBabe001:
The best decision ever made by CBN.

These BDC guys are criminals and very greedy. You are buying from CBN at 393/$ and they supply you $20000 weekly yet you will sell to the public at the rate of #500-505 and you said God won't punish you people.

If not for the wicked and corruption of our bankers and those bank managers, what's stopping us from accessing dollars from the counter or better still let CBN peg our ATM with $1000 monthly and see BDC die a natural death. The reason why people are going to these folks is cos we can't access the dollar from banks. Bank managers have formed a cartel and sell to BDC to make profit.

I hope Emefiele remains firm and focus in this. In this time and age we need to be responsible and be proactive. Let all bank branches be selling dollars not the abokis and the BDC they are the ones hoarding the dollars and abeiting money laundering.

For the first time, kudos to CBN.. Let's hope banks won't play smart.

Any banks that default in this I suggest their licence seized for at least 8 months.

duality:
But how do we get the dollar over the counter and at official rate. Won't people buy and hoard ?

bigpicture001:
The policy is good.infact very good,but this is not the best...

The best policy is simply allow state governors receive their monthly allocation in dollars and yet set up tight watch against the use of dollars as exchange within Nigeria..whoever does that will be mailed 2months...that way, you can control the naira and use the supply of naira to regulate the exchange rate. .

Simple economics...now who will clap for me..?

Latidoh1:
If you still dey patronize BDC. Na yourself you dey do.

SexyBabe001:
This is when we need to hold these silly branch managers responsible. They are ones selling and hoarding the dollars. They have a cartel of BDCs they sell to. If they gave them $30k.. They dispense $10k and sell the rest to their aboki friends. The banks are the evil folks and I wish the CBN starts by suspending their licence for any defaulting banks

PeaceJoyLove:
If this is the only thing CBN under this gov can do, this is a good news. Though, the gov is not a good man himself.

These BDC operators are enemies of Naira. Emefuele, the Central Bank governor must tighten his security cos they will plan on wasting him. Imagine how these BDC operated last week. In the morning naira was N501 and jumped to N522 in the afternoon same day. Very corrupt people. I dont even know who created the BDC option when most nations use merchant and commercial banks for FOREX. The moment CBN successfully started making commercial banks allow customers withdraw dollars from their domiciliary accounts is when I know they are preparing for today.

Only those working abroad and BDC boys will not like this story. Lol. Those abroad dont mind naira keeps getting bad daily so they can have more nairas from a dollar. Our God will fight for Nigeria.

Nukilia:
Emefiele should watch his back... The powerful BDC operators might get rid of him

nairavsdollars:
This Emefiele is the worst CBN governor in Nigeria's history.
Buhari and Emefiele are like

Hausaman:
Google more & read more before you misinform the public. No country that does not operate bdc's in it's economy on earth.
Nigerian economy is built on importations of goods not exportation of goods, which means that dollars will always be scarce because of high demand, in economics anything on high demand will always make the price go up. Pls don't let envy cloud your sense of judgement.
Our saving grace is the fx we get on crude oil, if not dollar to naira will reach about 1200 to $1. So CBN needs to encourage exportation of goods for our naira to be in demand internationally.

chloride6:
PMS is regulated?

dedunji:
people who bring in dollars from overseas goes to them direct to sell That y

PeaceJoyLove:
Go and consult some grounded in economics to teach you how to really break away from mounting pressure on the nation's currency and not over depend on dollars. The issue of scarcity of dollars should not even happen in a very good economy because transactions should not be only with it. You are ignorant and you dont know anything about economics and wealth. If you became the Nigerian president today, you would destroy everything. Again, you are ignorant about saying nations use BDC which is a separate entity from commercial and merchant banks. Even they are used which can occur (no contest) the main issue is that how can BDC have 50 to 100% difference from the amount commercial banks should sell. In fact commercials banks dont sell in Nigeria because of the profit they will get from BDC. They prefer to divert it there.

Oga, use your sense. The same quantity of dollars which is available that commercial and merchant banks divert to BDC is the same quantity CBN has ordered them to start selling. The same economics strategy used to make $ available is the same now. The only difference is that CBN wants commercial banks give it out to customers directly instead of using BDC which always creates artificial devaluation. So go and use your brain. You are zero upstairs for saying rubbish.

Your head dey pain you. So, that Nigeria is an importing economy justifies $1 is N500 in the morning and N525 in the evening is caused as a result of scarcity? Mum.u. The kind of economics you are preaching is called "Pen robbery abrakatabra".

That google you mentioned is what you should return to. Dullard! You deserve it cos you are manner less and dont know how to address one. It's my post and you can go huo a transformer of you font like it. Idiotaaaa.

It is clear you are a beneficiary of the wickedness of BDC and God has finished the story by making CBN do the right thing. Dullard...is it operating BDC that will make Nigeria to start producing? Mu.mu raise to the power of infinity. Get the heck outta my mention. Dullard. Opportunist. You are all going down this time. You have destroyed Nigeria enough. If you like go and start carrying AK47 to rob since BDC free money is closed. We will push further for capital punishment for robbery. And personally, I will push for firing squad. Injecting you people is not a good punishment. We will push for trained shooter to target your eyes, scrotums and jaws to first be shot, and they relax for 1 hour so you all roll in pain well before they come for round two to spray the whole of your body. And we will process your remain into manure to grow vegetables and grains. Your remains will not go wasted. We will use them. Dont worry. Yes, this will serve right all the enemies of Nigeria. We will be great again.

Dullard...get the heck outta my mention. Idi.ot!

Your moniker says it all... HausaMan. It's you hausas in the business. Good. We will crack you down. We will flush you out of Tejuosho, Surulere (Masha), Ojuelegba, Island, and all places you operate. Good Hausas with good intentions will remain like those farmers selling grains and vegetables (these good ones are my abokis....I love them) , but you idiots doing BDC will be cracked down. Enough of you destroying Nigeria.

Goodbye!

SexyBabe001:
The best decision ever made by CBN.

These BDC guys are criminals and very greedy. You are buying from CBN at 393/$ and they supply you $20000 weekly yet you will sell to the public at the rate of #500-505 and you said God won't punish you people.

If not for the wicked and corruption of our bankers and those bank managers, what's stopping us from accessing dollars from the counter or better still let CBN peg our ATM with $1000 monthly and see BDC die a natural death. The reason why people are going to these folks is cos we can't access the dollar from banks. Bank managers have formed a cartel and sell to BDC to make profit.

I hope Emefiele remains firm and focus in this. In this time and age we need to be responsible and be proactive. Let all bank branches be selling dollars not the abokis and the BDC they are the ones hoarding the dollars and abeiting money laundering.

For the first time, kudos to CBN.. Let's hope banks won't play smart.

Any banks that default in this I suggest their licence seized for at least 8 months.

Ajectteval:
Are u sure?