Loner444:


Do I need a domiciliary account before I can fund my account?
I just opened an account and I realized the betting currency is USD.

Please how do you fund yours?

you use ur prepaid card,dollar prepaid card preferably

This is not devaluation. IT IS DEPRECIATION

My prayer sef is that the Naira should keep devaluing. We have refused to do the right thing in Nigeria, and we will suffer more till we have the sense to get it right. All these are basic economic principles. It's not rocket science. The demand for the dollar by Nigerians is at an all time high, so definitely the rate will shoot high. Secondly we love to import. We don't produce and export. What do we expect? How many of our products do we export. None. Yet we import every gaadaam thing. Serves us right. Until all of these stop, dollar will enter 1500 soon.

ijustdey:


https://punchng.com/breaking-senate-to-invite-emefiele-over-naira-devaluation/

The most painful aspect is that this same useless APC is still warming up and campaigning for next year election, them non dey shame atall? They please hide their head in shame

A vote for Tinubu Apc will change Emefiele the Apa oninakuna that's mismanaging the central bank and put in a real person that can do a good job. Cbn is federal reserve and the one running it is responsible for the value of currency.

Brookdcook:
Vote APC 2023 for continuous assessment

TOPCRUISE:
They should summon Osinbajo too.
We can still remember these deceptive slogan "Buhari will handle security Osinbajo will handle economy."

our eyes never clear finish.

t2luv1:


Your CBN man created this mess by reducing the supply of Dollars to the BDC. The man is a banker he has always done the bidding of the banks, He created scarcity which is exactly what he wanted. To correct this mess start selling dollars to the BDC @ 416 then watch what will happen

...how do you expect him CBN to supply more dollars to BDC .. when the country does not earn much dollars and export much things, commodities, goods inorder to earn much dollars... Nigeria do not produce much, production, even some companies are struggling to survive due to the hard economy, bad economy.... Nigeria always imports almost everything even importing toothpick.... when a country imports too much of things, goods and less exportation of commodities , goods that country will spend more dollars to import which makes the dollars to be scarce in nigeria and when dollars is scare it makes the exchange rate of dollars to be high and devalues the naira....and they is a limit the CBN can print currencies, money...so if Nigeria is a country that consumes less..less importation and exports more Nigeria will earn more dollars and the exchange rate for dollars will be less and the naira will have more value ....and also rich men and politcians looking for dollars to send their children to abroad to school and also seeking health care in abroad makes the demand for dollars to be high and scare which also makes the exchange rate high...the CBN cannot supply much dollars to BDC when the country is not even earning much dollars... always importing almost everything and less exportation of goods

ufotunang:
...how do you expect him CBN to supply more dollars to BDC .. when the country does not earn much dollars and export much things, commodities, goods inorder to earn much dollars... Nigeria do not produce much, production, even some companies are struggling to survive due to the hard economy, bad economy.... Nigeria always imports almost everything even importing toothpick.... when a country imports too much of things, goods and less exportation of commodities , goods that country will spend more dollars to import which makes the dollars to be scarce in nigeria and when dollars is scare it makes the exchange rate of dollars to be high and devalues the naira....and they is a limit the CBN can print currencies, money...so if Nigeria is a country that consumes less..less importation and exports more Nigeria will earn more dollars and the exchange rate for dollars will be less and the naira will have more value ....and also rich men and politcians looking for dollars to send their children to abroad to school and also seeking health care in abroad makes the demand for dollars to be high and scare which also makes the exchange rate high...the CBN cannot supply much dollars to BDC when the country is not even earning much dollars... always importing almost everything and less exportation of goods

Instead of making Forex available through Banks all, I am advocating for it to make Forex available through the BDC. Right now BDC scarcity is dictating exchange rate for the country. CBN rate to banks is @ 416 which indirectly should have been the official exchange rate. Sale to BDC @ 450 then you see exchange rate drop to 550 which will be better than 700

t2luv1:


Instead of making Forex available through Banks all, I am advocating for it to make Forex available through the BDC. Right now BDC scarcity is dictating exchange rate for the country. CBN rate to banks is @ 416 which indirectly should have been the official exchange rate. Sale to BDC @ 450 then you see exchange rate drop to 550 which will be better than 700

This is a temporary solution to a permanent problem home you know that Sir

This guy should be beaten to death , publicly

From my own view of point Abokifx has nothing to do with $dollars devaluation, All the blame is on Our Dear government, they should try to stop importation I mean totally dependent on foreign products in term of food, tech, and others means, why should we be blaming Beauri de change guys, government has stop given people FORM A now so for those people has things to in abroad (school, health and others) how would you want them to get money � to proceed if there’s no all those Beauri De change guys, we should stopped blaming people for government failure, let blame those in the government system, let make things stable for our Dear Country first

The CBN governor don't even know how the market works, but I don't blame him because he is just clueless just like his oga at the top.

Una never see anything una go soon understand say ignorance worst pass HIV shaii be una been day shout say baba

okeysoninv:

this is from shell cooperation profit last year alone.
a total of $20b . why is CBN not tapping into foreign exchange earnings by companies operating in Nigeria. Emefiele needs to answer this
https://www.google.com/url?q=https://guardian.ng/business-services/shell-declares-20-1b-profit/&sa=U&ved=2ahUKEwix_KGllZr5AhUCOuwKHRtlBzgQFXoECAEQAg&usg=AOvVaw0mauJlYa7DWNT3sAhCSXeV

by the time you cumulate other companies earning foreign currencies in Nigeria you will see we have more dollars than naira in this country. the evil people in APC won't allow Nigeria flourish because of their selfish interest.

is shell a Nigerian company to begin with..what makes you think they will give to CBN all their dollars and take naira to the US their home country..

look dear....Forex earnings is not the matter of plus and minus..

no financial body has never reported excess of 70bn USD of forex earned through exports ..and they have never reported that figure is what we should earn by mere adding and subtracting...

Blackdisciple:
The CBN governor don't even know how the market works, but I don't blame him because he is just clueless just like his oga at the top.

na you know how the market works ..oshey

https://www.nairaland.com/6120017/cbn-should-careful-see-dollar

Read how I warned about dollar increasing to above 700 in 2020. Then it was around 300

Nothing is working fine under this incompetent ideot. Ge3eeet aaaat!!!!

JIBO4REAL:
From my own view of point Abokifx has nothing to do with $dollars devaluation, All the blame is on Our Dear government, they should try to stop importation I mean totally dependent on foreign products in term of food, tech, and others means, why should we be blaming Beauri de change guys, government has stop given people FORM A now so for those people has things to in abroad (school, health and others) how would you want them to get money � to proceed if there’s no all those Beauri De change guys, we should stopped blaming people for government failure, let blame those in the government system, let make things stable for our Dear Country first

if they ban import of basic and major food items like wheat , maize and rice...where are will going to get them from..Nigeria doesnt produce enough to meet quarter of our needs..
if we ban petroleum imports today...where do we get fuel to use .all the FG refineries are dead, Dangote is yet to complete his own, many modular refineries are still under construction

it will happen in nigeria one day that poor nigerian citizens will adopt the trade by bater system i.e exchange goods for services system. And the rich will have to use dollars. it sounds bitter but its going to happen one day.

Cognitivereason:


oga forget stealing...are you saying anambra politicians didnt steal during Obi's time..we are talking about what will help reduce the devaluation of naira ..ur talking of stealing...

as far as am consigned naira is directly dependent on a strong export value and buoyant foreign reserve..
Abacha looted Nigeria dry..yet his tenure witnessed inflation dropping from 53% to 8% and a massive pump in the foreign reserves by over 400%...

you dull folks need to wake up to see that managing and saving money like what Obi did in anambra isnt what is going to save our economy...reducing the cost of governance is not what bring an emergency fix to our economy...looking at what eygpt, vietnam and the rest did isnt going to solve it either..the emergency solution to our economic crises for now is to BRING BACK OUR REFINERIES AND BAN FUEL IMPORTS!!

"You dull folks...". This your line is not necessary coz I know and understand all you're saying. Personally I'm angry that Nigeria imports refined petroleum products. But can you tell me why the refineries aren't working? You cannot compare looting in Abacha time to the unprecedented looting of the present day leaders. And, no matter how you see it, no country can survive where most of the leaders are advanced criminals who steal every penny needed to better the country. Can you tell us how much previous govts, and this present evil APC, claim to have pumped into the refineries in the name of TAM? That strong export business strengthens your local currency is not difficult to understand .But you cannot be a producing country when your leaders are thieves. As for your question, Anambra politicians COULD NOT steal when Obi was Governor coz he blocked the loopholes. Peter Obi's key manifesto is to move Nigeria from consumption to production, from importation to exportation. He is the only one among the lot who will block the loopholes of looting BEFORE he will be able to achieve that.

Rahkman:
Na 1k e go reach before october....by then I go cash out my dollars for bet365 wey the value just dey increase like cryptocurrency

How did you go about it ??

Cognitivereason:


is shell a Nigerian company to begin with..what makes you think they will give to CBN all their dollars and take naira to the US their home country..

look dear....Forex earnings is not the matter of plus and minus..

no financial body has never reported excess of 70bn USD of forex earned through exports ..and they have never reported that figure is what we should earn by mere adding and subtracting...

you just want to argue for argument sake..I just showed just one company only earnings. When you calculate all the numerous oil and gas extracting companies in Nigeria they are making nothing less than $150b in Nigeria soil.
It is the duties of CBN to manage the inflow, outflow for cooperations and individual. Emefiele doesn't know he work , just chasing shadows.

okeysoninv:

this is from shell cooperation profit last year alone.
a total of $20b . why is CBN not tapping into foreign exchange earnings by companies operating in Nigeria. Emefiele needs to answer this
https://www.google.com/url?q=https://guardian.ng/business-services/shell-declares-20-1b-profit/&sa=U&ved=2ahUKEwix_KGllZr5AhUCOuwKHRtlBzgQFXoECAEQAg&usg=AOvVaw0mauJlYa7DWNT3sAhCSXeV

by the time you cumulate other companies earning foreign currencies in Nigeria you will see we have more dollars than naira in this country. the evil people in APC won't allow Nigeria flourish because of their selfish interest.

The Guardian report is likely referring to WORLDWIDE profits for Shell Company. Read the report carefully.

Have a good day.

Everlastingson:




"You dull folks...". This your line is not necessary coz I know and understand all you're saying. Personally I'm angry that Nigeria imports refined petroleum products. But can you tell me why the refineries aren't working? You cannot compare looting in Abacha time to the unprecedented looting of the present day leaders. And, no matter how you see it, no country can survive where most of the leaders are advanced criminals who steal every penny needed to better the country. Can you tell us how much previous govts, and this present evil APC, claim to have pumped into the refineries in the name of TAM? That strong export business strengthens your local currency is not difficult to understand .But you cannot be a producing country when your leaders are thieves. As for your question, Anambra politicians COULD NOT steal when Obi was Governor coz he blocked the loopholes. Peter Obi's key manifesto is to move Nigeria from consumption to production, from importation to exportation. He is the only one among the lot who will block the loopholes of looting BEFORE he will be able to achieve that.

the first bolded is necessary as you guys who claim educated and obidient do not understand basic economic principles and the realities that obstruct Nigeria's progress

no government looted more than in abacha tenure...you claim that this government looted more is solely based on emotions and hatred for this government rather than proven facts

you need to understand that stealing of public funds is not directly the cause of economic disasters or high rate of currency devaluation..Abacha alone stole money in USD that can cater for some geopolitical zones for 2 years..money that we are still fighting to recover from foreign banks..yet foreign reserves increased from around 400 million USD to over 9bn USD before he died...He fought inflation from 54% where he met it after he dethroned Shonekan to 8.5% when he died..let me not even go into the oil revenues...and the same guy looted over 2bn USD...(N1.4 trillion in todays money) go and read history b4 u argue blindly..Abacha made all this achievement due to the Oil booms..the same oil booms that made saudi arabia and UAE what they are today because they used theirs better..

your claim that there were no lootings in Obi time is total falacy..you want to tell me all the monies disbursed to house of assembly memebers were utilized judiciously including those all allocated to his cabinet and even LGA...please mention one main project done in anambra in Peter Obi's glory.. Obiano is the best governor of anambra especially in infrastrucuture..you think he continued in the trend of savings anambra will be what he is today?..have you heard of the pandora papers..inshort let me stop here


between 1993 and 2016 $6.06bn was spent on TAM..pls was buhari in power in any of these years..aside 2016 where the money spent was coming from approvals done and being disbursed by GEJ..by 2016..PMB terminated any contract and for that period ..not a single penny was approved for TAM ... if you have any one for that billions wasted for TAM..question OBJ,GEJ,yar adua, abdulsalami...etc..

moving on NNPC and the finance minister at that time (kemi Adeosun) were instructed to devise another may of getting that refinery to work without the money from from FG accounts..Kemi and the NNPC boss at that time brought in the orginal builders of the refineries and asked them to carry out an accessment of what they built..after all negotiations and agreement done ..PMB approved their request of $1.5bn to start PH refinery..the funds comes from Private investors in form of loans to fix the refinery..today PH refinery is under complete overhaul ..we see the out come of the different approach by PMB next year compared to the last 4 administrations who siphoned public funds in the name of TAM...according to the orginal builders PH refinery will process 60,000bpd ..it at the end it does work..then you can now call Buhari a thief..

https://guardian.ng/saturday-magazine/cover/refineries-endless-tam-as-money-guzzling-scheme/

Obi manifesto is to transform Nigeria from consuming to producing economy..the question is how..is it by producing cars and phones or what exactly..if his aim is not to bring back our refineries to cut fuel imports then he will fail woefully...we import fuel and petrochemicals more than any bloody item you can think of..yall think producing economy is when we start empowering aba people to make more shoes and clothes or producing our own cars,..your joking...all of these things will eventually prove to be useless if we do not produce fuel and the necessary petrochemical products..

FYI fuel and petrochemical imports swallows more than 30% of our reserves..any body who is looking at producing something else other than this is wasting his time..Emiefele and PMB believed this is what we need to save our economy and naira not saving money or reducing any cost of governance..this is why PMB instructed CBN to pump billions of forex to Dangote in CBN exchange rate to quicken it construction.he terminated TAM and brought a new approach to fix the Fg owned refineries ..There is now a huge market for gas..PMB borrowed loans to finance pipelines to europe through AKK project... anyone who will abandon any of this laudable progress to save money and produce unnessary items will fail...

How did you verify your details please?

Rahkman:
Na 1k e go reach before october....by then I go cash out my dollars for bet365 wey the value just dey increase like cryptocurrency

IbeOkehie:


The Guardian report is likely referring to WORLDWIDE profits for Shell Company. Read the report carefully.

Have a good day.

that's for shell nigeria alone. make a research.shell company worldwide profit last year was $261b. hold your govt and CBN responsible for lost of naira. they will be pending lies we are not exporting country but that's a huge lie, the amount of exports leaving Nigeria is more than $180b import is not even up $90b.

okeysoninv:
that's for shell nigeria alone. make a research.shell company worldwide profit last year was $261b. hold your govt and CBN responsible for lost of naira. they will be pending lies we are not exporting country but that's a huge lie, the amount of exports leaving Nigeria is more than $180b import is not even up $90b.

I can now definitively state that you're wrong. Here's a report on the ANNUAL profit for Shell for year 2021. CNBC is one of the standards of business reporting trusted world wide.

https://www.cnbc.com/2022/02/03/shell-earnings-q4-2021.html

Oil giant Shell on Thursday reported a sharp upswing in full-year profit, beating analyst expectations on rebounding commodity prices.

The British oil major posted adjusted earnings of $19.29 billion for the full-year 2021. That compared with a profit of $4.85 billion the previous year.

There it is. As I wrote earlier, the ~$20 billion you stated was for the full year of 2021, worldwide. These are simple data that can be checked with a click on the internet, I don't understand why it has to be the subject of argument.

Now this one made me laugh...thanks for that, laughing is good for my health -

okeysoninv:
you just want to argue for argument sake..I just showed just one company only earnings. When you calculate all the numerous oil and gas extracting companies in Nigeria they are making nothing less than $150b in Nigeria soil.
It is the duties of CBN to manage the inflow, outflow for cooperations and individual. Emefiele doesn't know he work , just chasing shadows.

There's never been a year that the TOTAL CORPORATE PROFITS in Nigeria ever hit $150 billion. It has NEVER happened. Maybe $15 billion...I really don't know but I can assure you it's never hit even $100 billion. The majority of Nigerians probably have the same beliefs as you which accounts for the generally unrealistic demands imposed on government.

It's time for everybody to understand that Nigeria is and has always been a poor country. Nigeria has never had much money, all the claims of being rich are driven by emotions and delusions.

Have a good day.

t2luv1:


Instead of making Forex available through Banks all, I am advocating for it to make Forex available through the BDC. Right now BDC scarcity is dictating exchange rate for the country. CBN rate to banks is @ 416 which indirectly should have been the official exchange rate. Sale to BDC @ 450 then you see exchange rate drop to 550 which will be better than 700

... where do CBN have enough dollars to sell to BDC when the country does not earn much dollars.thriugh exportation...nigeria is a consuming country...we import a lot...no much revenue iscoming to the country to the federation account....the federal government is even collecting loan from china to fund the budget...so a country that does not earn much dollars.. then how can CBN have enough dollars to sell to BDC. I do not think you understand what I have been explaining to you in my write ups above to you

IbeOkehie:


I can now definitively state that you're wrong. Here's a report on the ANNUAL profit for Shell for year 2021. CNBC is one of the standards of business reporting trusted world wide.

https://www.cnbc.com/2022/02/03/shell-earnings-q4-2021.html



There it is. As I wrote earlier, the ~$20 billion you stated was for the full year of 2021, worldwide. These are simple data that can be checked with a click on the internet, I don't understand why it has to be the subject of argument.

It's time for everybody to understand that Nigeria is and has always been a poor country. Nigeria has never had much money, all the claims of being rich are driven by emotions and delusions.

Have a good day.

you're figures are just the year profit not the year revenue ..shell company revenue is amount to $261b. While in Nigeria the revenue is $20b. Do you need me to explain further ? Enjoy your day https://www.google.com/url?q=https://www.statista.com/statistics/268734/revenue-of-shell/&sa=U&ved=2ahUKEwi53dSvvZv5AhVF3qQKHYXBAjoQFnoECA0QAg&usg=AOvVaw1LRfr6epy5TSCqkmKZxcSg

okeysoninv:
you're figures are just the year profit not the year revenue ..shell company revenue is amount to $261b. While in Nigeria the revenue is $20b. Do you need me to explain further ? Enjoy your day https://www.google.com/url?q=https://www.statista.com/statistics/268734/revenue-of-shell/&sa=U&ved=2ahUKEwi53dSvvZv5AhVF3qQKHYXBAjoQFnoECA0QAg&usg=AOvVaw1LRfr6epy5TSCqkmKZxcSg

Sorry you wrote earlier that Shell profit from Nigeria for 2021 was $20 billion. Thank goodness your comment is recorded here, I quoted it.

okeysoninv:
that's for shell nigeria alone. make a research. shell company worldwide profit last year was $261b. hold your govt and CBN responsible for lost of naira. they will be pending lies we are not exporting country but that's a huge lie, the amount of exports leaving Nigeria is more than $180b import is not even up $90b.

You're trying to confuse issues.

Worldwide revenue for Shell was likely $261 billion, worldwide profit was about $20 billion. I've directed you to an authoritative source. If that's not enough, here's the annual financial summary from the global company website, it lists a profit of $20b -

https://reports.shell.com/annual-report/2021/strategic-report/summary-of-results.html

The Guardian report you first quoted didn't say anything about Shell Nigeria profits or revenue, it was about the worldwide company.

It's a pity you can't accept you made a mistake. That's the usual Nigerian reaction and it's a pointer to what is wrong with the country.

Have a good day.

The most inefficient CBN Governor. Its high time he is relieved of duty or he should resign haba.