Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? - Business

Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? (2089 Views)

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Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by jumper524(op): 6:40pm On Jul 23, 2022

The official rate of our Naira has stabilized at 416 for a long while now but our bdc operators keeps enjoying giving new value by the day.
What's wrong and why is this so? Are we going to just watch and tomorrow our bdc operators woukd decide to trade at #700 while the official rate is still 416?
Seun
Lalasticlala
Please push to wider audience, this rubbish can't continue.

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by successmatters(m): 6:41pm On Jul 23, 2022

I thought Aboki dot com was to blame before? grin

9 Likes

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Conner44: 6:42pm On Jul 23, 2022

I know BDC operators have a hand in our nairas woes but ever since emifiele shut down abokifx the naira has been on a steady free fall.

Let us see where they will fling their blame to next.

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by successmatters(m): 6:42pm On Jul 23, 2022

All these economic illiterates in APC sef

This is why you need Peter Obi.

16 Likes

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by successmatters(m): 6:43pm On Jul 23, 2022

Conner44:
I know BDC operators have a hand in our nairas woes but ever since emifiele shut down abokifx the naira has been on a steady free fall.

Let us see where they will fling their blame yo next.

Let's arrest Aboki dot com owners and lock them up, that's a typical APC response grin

3 Likes 1 Share

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by VeryWickedMan: 6:46pm On Jul 23, 2022

Naira is heading to N1000 by March 2023
Una never see anything. By the time me and Buhari finish with una ehn

8 Likes

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by NowisGod109(f): 6:53pm On Jul 23, 2022

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Bridget95(f): 6:54pm On Jul 23, 2022

successmatters:
All these economic illiterates in APC sef

This is why you need Peter Obi.

you are correct. You are a patroit

4 Likes

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by NowisGod109(f): 6:55pm On Jul 23, 2022

I don't believe anyone can save this country except God intervenes...this country e yaf casted

1 Like

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by PENNYSWAP: 6:56pm On Jul 23, 2022

CBN can make dollar available for 416 to every body then this new price by aboki is invalid

5 Likes

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Bridget95(f): 6:57pm On Jul 23, 2022

I wish Abacha was still our president. He was a thief but under his watch terrorism and economic hardship

1 Like

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Commentor: 6:59pm On Jul 23, 2022

successmatters:
All these economic illiterates in APC sef

This is why you need Peter Obi.

According to one other thread trying to praise Peter Obi, it claimed Obi is a big time importer of non-essential commodies such as baked beans.

I don’t know how that helps the Naira.

2 Likes

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by PENNYSWAP: 6:59pm On Jul 23, 2022

NowisGod109:
I don't believe anyone can save this country except God intervenes...this country e yaf casted

. God can’t save us , he already gave us Human Resources and natural resources... what else do we want from him huh

Nigerians needs more suffering , Buhari X100

Only chronic suffering will remove religious and tribal sentiments from the eyes of the poor masses ...

Only unprecedented suffering will make a police man see a politician as an enemy and not an ordinary citizen

We need more suffering to awaken the Naija in all of us

3 Likes

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Iliveforever(m): 6:59pm On Jul 23, 2022

jumper524:
The official rate of our Naira has stabilized at 416 for a long while now but our bdc operators keeps enjoying giving new value by the day.
What's wrong and why is this so? Are we going to just watch and tomorrow our bdc operators woukd decide to trade at #700 while the official rate is still 416?
Seun
Lalasticlala
Please push to wider audience, this rubbish can't continue.

You’re supposed to use this huge energy to direct ur anger to the right people and not BDC operators.

So when delegates were receiving bribes in huge dollar cash, you thought this kind of effect wouldn’t show up months later??

Once again, re-channel the energy to the right source.

2 Likes

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Dubaku543: 7:00pm On Jul 23, 2022

We are finished!! undecided

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by PharoahIII: 7:01pm On Jul 23, 2022

It has nothing to do with bdcs. It's very simple and basic economics. We spend more forex than we get, becos we are heavily reliant on imports. When we take out unnecessary loans, do you think they are serviced with the local currency? No. We spend more than 4trn a year on fuel subsidies alone ,that's more than 6 billion dollars that we have to pay to refineries abroad. Common toothpick we have to import from china. Again u pay in cold hard dollars, which represents a forex outflow.

7 Likes 2 Shares

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by successmatters(m): 7:01pm On Jul 23, 2022

Commentor:
According to one other thread trying to praise Peter Obi, it claimed Obi is a big time importer of non-essential commodies such as baked beans.

I don’t know how that helps the Naira.

That was then, before he got into politics as governor. Obi later started supporting local production as governor by creating an industrial park in Onitsha and also actively supporting the establishment of productive companies inside his state of Anambra.

5 Likes 1 Share

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by jumper524(op): 7:02pm On Jul 23, 2022

Iliveforever:
You’re supposed to use this huge energy to direct ur anger to the right people and not BDC operators.

So when delegates were receiving bribes in huge dollar cash, you thought this kind of effect wouldn’t show up months later??

Once again, re-channel the energy to the right source.

when dollars are more in circulation, inflation is suppose to reduce.
Well economics has been lying and it's obvious things need to be grabbed by the horn

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Commentor: 7:03pm On Jul 23, 2022

successmatters:
That was then, before he got into politics as governor. Obi later started supporting local production as governor by creating an industrial park in Onitsha and also actively supporting the establishment of productive compainside hos state of Anambra.

Hahaha.

He first destroyed the Naira and now he's a hero.

grin

Nothing wey we no go hear.

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Vulturereloaded: 7:03pm On Jul 23, 2022

Ask Tinubu where he got dollars to bribe delegates.

We will take back this country.

4 Likes

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Commentor: 7:05pm On Jul 23, 2022

Iliveforever:
You’re supposed to use this huge energy to direct ur anger to the right people and not BDC operators.

So when delegates were receiving bribes in huge dollar cash, you thought this kind of effect wouldn’t show up months later??

Once again, re-channel the energy to the right source.

10000 delegates cannot be the cause.

A country heavily dependent on imports cannot survive.

By the way, Dollars in the hands of delegates means they would also be spending same here in Nigeria.

It is not being exported.

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by successmatters(m): 7:06pm On Jul 23, 2022*

Commentor:
Hahaha.

He first destroyed the Naira and now he's a hero.

Nothing wey we no go hear.

He was importing because there was no local production of the same goods, when he got into power, he started correcting things, that's a leader.

Nobody in APC has ever produced anything, or supported local production, from buharri to Tinubu.

3 Likes

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Joey4321: 7:09pm On Jul 23, 2022

jumper524:
The official rate of our Naira has stabilized at 416 for a long while now but our bdc operators keeps enjoying giving new value by the day.
What's wrong and why is this so? Are we going to just watch and tomorrow our bdc operators woukd decide to trade at #700 while the official rate is still 416?
Seun
Lalasticlala
Please push to wider audience, this rubbish can't continue.

Ask yourself if you have alternative in sourcing your dollars

1 Like 1 Share

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Iliveforever(m): 7:12pm On Jul 23, 2022

Commentor:
10000 delegates cannot be the cause.

A country heavily dependent on imports cannot survive.

By the way, Dollars in the hands of delegates means they would also be spending same here in Nigeria.

It is not being exported.

10000 x the amount shared!!

Check record, same thing happened during last election 2019

Huge amount Money is in circulation in which no tax would be paid, structure what would you expect??

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Nobody: 7:12pm On Jul 23, 2022

jumper524:
The official rate of our Naira has stabilized at 416 for a long while now but our bdc operators keeps enjoying giving new value by the day.
What's wrong and why is this so? Are we going to just watch and tomorrow our bdc operators woukd decide to trade at #700 while the official rate is still 416?
Seun
Lalasticlala
Please push to wider audience, this rubbish can't continue.

Nah them dey power nah

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by jumper524(op): 7:13pm On Jul 23, 2022

Commentor:
10000 delegates cannot be the cause.

A country heavily dependent on imports cannot survive.

By the way, Dollars in the hands of delegates means they would also be spending same here in Nigeria.

It is not being exported.

when there's more dollar in circulation, it should lead to decrease in value but the reverse.
Nigeria were heavy importers during GEJ but now we've reduced. Atleast in terms of rice.
Our import rate has reduced compared to PDP atleast in agricultural aspect yet there's free flow of depreciation in Naira.
It's as if the bdc operators just wake up everyday to decide the rate that suits them and mostly those who go to sell their dollar happily rush to accept the new rate when the reality is that hell pay for that 2 min profit in multitudes through other essentials and services.

2 Likes 1 Share

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Commentor: 7:13pm On Jul 23, 2022

Iliveforever:
10000 x the amount shared!!

Check record, same thing happened during last election 2019

Huge amount Money is in circulation in which no tax would be paid, structure what would you expect??

Dollars within the economy does not cause a decrease in the value of Naira.

The dollar is still within the economy.

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Nairariver: 7:13pm On Jul 23, 2022

Heap your blames on the CBN who keep manipulating the official dollar rate which effectively made the bdc operators powerful.
Who in their right senses would exchange ($1000 for 415,000 naira) when they get (653,000 naira for the same $1000).
By the way the cost of goods in the local market reflects bdc markets rates.

1 Like

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by NowisGod109(f): 7:13pm On Jul 23, 2022

PENNYSWAP:
. God can’t save us , he already gave us Human Resources and natural resources... what else do we want from him

Nigerians needs more suffering , Buhari X100

Only chronic suffering will remove religious and tribal sentiments from the eyes of the poor masses ...

Only unprecedented suffering will make a police man see a politician as an enemy and not an ordinary citizen

We need more suffering to awaken the Naija in all of us

You should say you need more suffering not me. As for me, God will save me, my families and well wishers..shalom

1 Like

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Nobody: 7:14pm On Jul 23, 2022

Joey4321:
Ask yourself if you have alternative in sourcing your dollars

What are you saying? Where do they get the dollars if not the bank?

What stops the bank from selling directly to those who need it?

This middleman shit is what is killing the naira.

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Commentor: 7:15pm On Jul 23, 2022

successmatters:
He was importing become there was no local production of the same goods, when he got into power, he started correcting things, that's a leader.

Nobody in APC has ever produced anything, or supported local production, from buharri to Tinubu.

1 Like

Re: Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? by Omoslim26: 7:16pm On Jul 23, 2022

On a serious note, those guys are really making extra gains oo.

1 2 Reply

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