Esseite:
Greed is also our problem..

- You sell to aboki, they form association to increase the rates..

- you sell to banks, rather than sell to end users, they sell to abolish, whom form association to increase the rates..

I think the solution is simple,
Why don't CBN open just forex operational branches across the 36 states of the nation to serve the legitimate needs of forex across the country and eliminate both banks and Aboki,rather sell to legitimate users directly?
If they do this,no more round tripping for banks and denying end users forex.
This will rapidly crash rates.
Let them do something unorthodox for once and stopp all this bs.

Faiththatworks:
Mr Emefiele should do the needful and declare bureau d change as an illegal business. Anyone buying or selling forex outside the banks should be treated as a criminal.
To all.those who have made their mind to always criticize Me Emefiele can you please allow the man breathe.
This crazy parallel illegality was established by Gen Babaginda to siphon money out of Nigeria,and closing it down will take some time and balls from any CBN governor.
We all need to support the CBN governor as he cleans the Agusean stable. Currency speculation,Currency trading must be declared an economic crime and anyone caught doing it must be sent to jail.
The CBN governor declared only banks will sell forex in Nigeria some months ago and the heavens didn't fall,even to my suprise,Gen Buhari didn't reverse the decision,that shows the Governor was right in his decision.
For those who are trying to beat the system by using illegal visas to purchase forex,Mr Emefiele must force the embassies to open an hotline where the banks can confirm people's visa before selling forex,anyone caught using fake visas to buy forex should be treated as a scapegoat,and charged with currency speculation and fraud.
God bless Nigeria.

What about having a genuine visa and there's a decision to not travel after obtaining PTA from the bank?

We don't need BDCs except for people that engage in illegal transactions. Everyday, these BDCs manipulates our exchange rates. Banks cannot change their exchange rates without CBN's approval.

Ade3131:


What about having a genuine visa and there's a decision to not travel after obtaining PTA from the bank?

You can return the PTA to the bank and collect your naira back since you are no longer travelling.

Trentee4eva:

You can return the PTA to the bank and collect your naira back since you are no longer travelling.

Even Emefiele himself will not return PTA to the bank. He will keep it for his next travel.

free2ryhme:


Mumu talk shey, E go reach off all una no worry

Wetin go reach all of us, the hardship don reach every body already

Faiththatworks:
Mr Emefiele should do the needful and declare bureau d change as an illegal business. Anyone buying or selling forex outside the banks should be treated as a criminal.
To all.those who have made their mind to always criticize Me Emefiele can you please allow the man breathe.
This crazy parallel illegality was established by Gen Babaginda to siphon money out of Nigeria,and closing it down will take some time and balls from any CBN governor.
We all need to support the CBN governor as he cleans the Agusean stable. Currency speculation,Currency trading must be declared an economic crime and anyone caught doing it must be sent to jail.
The CBN governor declared only banks will sell forex in Nigeria some months ago and the heavens didn't fall,even to my suprise,Gen Buhari didn't reverse the decision,that shows the Governor was right in his decision.
For those who are trying to beat the system by using illegal visas to purchase forex,Mr Emefiele must force the embassies to open an hotline or a web portal where the banks can confirm people's visa before selling forex,anyone caught using fake visas to buy forex should be treated as a scapegoat,and charged with currency speculation and fraud.
God bless Nigeria.

Please when were you born? BDCs are in operation in other countries. What was the exchange rate differential between official and parallel markets under Charles Soludo? TWO NAIRA!

So what has changed under Emefiele? He needs to look inwards.

Hmmm

Why can't CBN banned Boko Haram sponsors accounts

What was he doing when all the illicit acts were going on? Why wait for the UAE to do his job for him by exposing those sponsoring, arresting and jailing some of the terrorism in Nigeria before coming out to spew all these trash? Was he not aware of the goings on? Or was it because most of the terrorism sponsors, who were said to be members of this administration were seen to be too big or too powerful to touch? Mumu of a man. UAE's action was shocker number one. The 2nd shocker awaits him by the time America bursts their bubble by not only naming sponsors of terrorism as they've promised, but hand-picking the sponsors

Mecka:
[b][/b]

https://dailytrust.com/terrorism-criminals-buy-dollars-from-bdcs-to-import-arms-emiefele

Emefiele oooooo

BDC License cost N35,000,000

In 2000, there were only 74 CBN licensed BDCs
2010-2016, the number went to 2000 BDCs
2018-2021, the number went to 5000 BDCs

And CBN kept issuing license.


https://www.youtube.com/watch?v=TvpZ6WNwVes

Blame. Blame. Blame.

Emiefele is clueless on why the naira is crashing so he just want to make up stories and create monsters and victims to make it look like it a battle btw angels and demons.

For the fact that this man is guarding dollar, it will indirectly kill naira....Now dollar is like narcotics trade....If you lay hands on few, naira will rain.....


If every tom, dick and harry have acess to dollar here, it will be fair to naira.

In Nigeria now, govt officials jst tag anything with terrorism to justify their wickedness and fail government and refuse to tag Fulanis terrorists herdsmen terrorist organisation

Mecka:
[b][/b]

https://dailytrust.com/terrorism-criminals-buy-dollars-from-bdcs-to-import-arms-emiefele

Oga if you can stop bdcs nowahala, but if you can't stop them, stop disturbing us

Control is definitely needed.

Faiththatworks:
Mr Emefiele should do the needful and declare bureau d change as an illegal business. Anyone buying or selling forex outside the banks should be treated as a criminal.
To all.those who have made their mind to always criticize Me Emefiele can you please allow the man breathe.
This crazy parallel illegality was established by Gen Babaginda to siphon money out of Nigeria,and closing it down will take some time and balls from any CBN governor.
We all need to support the CBN governor as he cleans the Agusean stable. Currency speculation,Currency trading must be declared an economic crime and anyone caught doing it must be sent to jail.
The CBN governor declared only banks will sell forex in Nigeria some months ago and the heavens didn't fall,even to my suprise,Gen Buhari didn't reverse the decision,that shows the Governor was right in his decision.
For those who are trying to beat the system by using illegal visas to purchase forex,Mr Emefiele must force the embassies to open an hotline or a web portal where the banks can confirm people's visa before selling forex,anyone caught using fake visas to buy forex should be treated as a scapegoat,and charged with currency speculation and fraud.
God bless Nigeria.

It is simple economics your hero can't supply all the demand for dollar so there will always be a black / parallel market.

Please how did IBB create the parallel market?

Based allegations without proof what a lame excuses!!!

Buckeyemedia1:
Yet his banker friends are making billions of Naira profit every year? They should pass dollars only through the banks for Jim Ovia, Otunba Balogun, Elumelu, Atedo Peeterside & co, most especially Jim Ovia his Oga, to be milking the masses? Only your banker friends should control dollars? Just like crypto, since your banker friends can’t monopolize it, ban it? Thief.

Are you an arms dealer? Are you a kidnapper? Do you belong to Boko Haram? Why are you saying this nonsense this early morning?

SeaTrade:
I think the solution is simple,
Why don't CBN open just forex operational branches across the 36 states of the nation to serve the legitimate needs of forex across the country and eliminate both banks and Aboki,rather sell to legitimate users directly?
If they do this,no more round tripping for banks and denying end users forex.
This will rapidly crash rates.
Let them do something unorthodox for once and stopp all this bs.

Why did they have to do something unorthodox?? Have you been to the bank recently for either PTA or BTA and you were denied ? After presenting legitimate documents...where you or someone you know denied?

You think CBN or bank is the problem? Until BDC are permanently exterminated , they will continue hurting the naira

...simple economics should tell you that dollars is not scarce, it's everywhere out there , it's in every single aboki shop, they go to the bank every day and deposit large sum of dollars and most times always want to exceed their limit ,

so why is the price always going up For something that is truly available everywhere ? Even u have access to $100 per month at the official rate , so who is going to the BDC to buy dollars when u can buy at the bank ? So why are people not going to the bank to buy ? Why are they going to BDC where it's more epensive ?

limit? Ask yourself, how many people truly want to travel that truly hold enough to buy even $2k talk less of $4k...u see now? Me and you and the BDC is the real problem not CBN or it's policy

People truly need $1.5k to travel but in their greediness request for $4k source for money to get it then sell the balance to BDC at a very expensive rate, make some profit and left a disadvantage country behind , for every action of this greedy people, those of us left behind are affected by price system.of a transaction that does not concern us in anyway whatsoever....some even use fake visa to get it ...greed

Emefiele is right on this one, we don’t spend dollar in Nigeria, if u are legit and you want to access forex, your bank is available.
Only criminals trade forex in black market.
If everybody stop patronizing this BDCs, their dollar will b useless, thereby making them reduce their price and sell off at bank rate or lower, the lower the demand , d lower the price.
Arrest every aboki u can, seize all their dollars and deposit it into banks.
With this cbn will be able to regulate the price of forex, not some set of donkwa brown teeth abokis sitting in one corner and causing artificial price increase.
BTA/PTA has $4,000 access
Importation has $20,000 you can demand for more if you need excess.
School fees - show your i20/ school documents
Medical- show your meds bills
What else do you need physical dollar for in a country that spend naira.
Okay, spray in a party

Repent, Jesus is coming soon!! REPENT!

Ade3131:


What about having a genuine visa and there's a decision to not travel after obtaining PTA from the bank?

Repurchase the allocation and reapply when you are ready to travel.

Apart from Terrorism which we do not have the facts, those buying from BDCs are mostly into importation of banned items.

Boss, closing down the BDCs is a smart move with evil intention. Emefiele is aware that banks make their highest profit by selling to these BDCs and he didn't put anything in place to check the greediness of these bankers. BDCs are still in business and they get Fx from banks at a higher rate, that is why the parallel rates are very high too. Emefiele should checkmate these bankers and see how things will workout. Buhari is not reversing the policy because his brothers are not yet really affected, rather they are still in business with higher profits. By the time they are totally shutdown you will see how the northerners will start boiling.

Faiththatworks:
Mr Emefiele should do the needful and declare bureau d change as an illegal business. Anyone buying or selling forex outside the banks should be treated as a criminal.
To all.those who have made their mind to always criticize Me Emefiele can you please allow the man breathe.
This crazy parallel illegality was established by Gen Babaginda to siphon money out of Nigeria,and closing it down will take some time and balls from any CBN governor.
We all need to support the CBN governor as he cleans the Agusean stable. Currency speculation,Currency trading must be declared an economic crime and anyone caught doing it must be sent to jail.
The CBN governor declared only banks will sell forex in Nigeria some months ago and the heavens didn't fall,even to my suprise,Gen Buhari didn't reverse the decision,that shows the Governor was right in his decision.
For those who are trying to beat the system by using illegal visas to purchase forex,Mr Emefiele must force the embassies to open an hotline or a web portal where the banks can confirm people's visa before selling forex,anyone caught using fake visas to buy forex should be treated as a scapegoat,and charged with currency speculation and fraud.
God bless Nigeria.

Trentee4eva:
We don't need BDCs except for people that engage in illegal transactions. Everyday, these BDCs manipulates our exchange rates. Banks cannot change their exchange rates without CBN's approval.

so if someone needs dollars for legitimate purposes, e.g to write an/apply for an exam, and it's not a large amount, like $700-1000, will the local bank process it?

When you turned Naira to a gift currency u didn't get the point? Naira for dollar policy where u will be giving Naira for free to those who receives USD. Most things u get for free is NEVER valued. Do they give u free USD in d USA for receiving Naira? U keep closing people source of livelyhood without creating regulated alternatives. Closed Border, closed BDC and closed Aboki Fx yet NGN is going to 1k/USD. Keep closing a lot of businesses in a country where unemployment and under employment is over 70 percent. After pushing the masses to their elastic limit there is a breaking point.

Very incompetent CBN governor,always shifting blame , not wanting to accept responsibility...very irresponsible CBN governor

gregbali:


Repurchase the allocation and reapply when you are ready to travel.

Apart from Terrorism which we do not have the facts, those buying from BDCs are mostly into importation of banned items.

Okay nau...

Ade3131:


What about having a genuine visa and there's a decision to not travel after obtaining PTA from the bank?

The rule says, return the PTA. PTA is travel allowance, if you are not travelling again, you are expected to return the allowance. You can always get it next time you will be travelling.

This corrupt criminal idio..t called emefiele the only CBN gov without fiscal blue print will put the blame of worthless naira anywhere except his incompetence

He has no plan. His master has no plan except to call for more money. All this CBN governor does is to print money. What does he expect will happen to the naira?