The best thing is to abolish bureau de change and allow only bank to do the job

Banks sending messages to her customers to deposit their money dosn't help matters, what we need to know Is that, let federal governments should should give us the dateline of receiving old cash, because business people collect money in every minute, and you don't expect them to go and deposit their money every minute, so the best thing we need to know is: when to collect and not collect old money that's all

Eye service clamp down

I've been withdrawing maximum of 5k for sometime now...if I lose 5k, it won't be painful Incase I have it when CBN mumu rings the bell

What about we do away the bureau de change people and let everyone who wants to access forex go to the banks

Arrest banks officials selling to abokiis

It's done in other countries

The government should stop harassing it's citizen after they failed to do what is needed,..there is scarcity of dollars and the ongoing hoarding of the Naira, they know were the money is so they should stop these illegal move, what is stopping them from arresting those BDC operators at the airport? Abi nah official rate them they use??..a politician will be allowed to withdraw dollars and naira in (=N=) billions equivalent una go pretend as if it's normal, shebi Dem honour you by buying presidential form for you,..the e- transactions una introduce who go use am??..last last we all go dey alright.

Criminals and corrupt politicians don't care how expensive dollar is at black market. They will still buy it
at any price because it's not their money. The money is stolen.

lifestyle1:


Imagine if they ban them and carry out all FX transactions through bank.


I need old inactive Fiverr buyer account.

Send me a message through my signature.

Mumu!
Banks sells all their USD in the black market.

Samogloby:
The best thing is to abolish bureau de change and allow only bank to do the job

Lol!
They have done that since na... Abi are uou not in Nigeria? Bureau de change are not in existence again. Na Banks dey go sell their USD for black market because of high rate. Don't stay in your house and be talking what you have no idea of

Bobloco:


https://punchng.com/clampdown-currency-traders-petition-igp-to-write-senate-cbn/?amp

This is the best time to let the Naira float freely against the Dollar. The corruption starts from the dual systems of official dollar rate vis a vis the parallel market rate.

This country is a deep mess

Curious345:
hnmm

The BDC's have done more harm to Nigeria than the ISWAP and bokoharam combined .. they should be proscribed

The blame should be pointed at CBN who is enabling & funding their existence!

If CBN start making dollar available at our local branch and at the rate they are selling to their friends and cronies, BDCs will die a natural death the next day.

See it: https://www.nairaland.com/7419422/praying-enemies-key-spiritual-maturity#118161239

9jii:
These guys are the main instrument corrupt officials are using in draining the dollars out of this country.
They fix the price at their own will.
Governors, senators, CBN officials and minister are their main source of dollars.
They need to be purge from the the system to start with.

Corrupt officials from APC

I just don't understand this CBN people anymore, didn't they forsee this problem coming before leaking out this information to the public space. What kind of mess is this for crying out loud. It's grossly incompetent of the CBN governor to throw Nigeria into this mess. Let him just resign and go.

Anytime good things won showface some boofull somewhere go dey tryhard to dakpo dey efforts later innocent one go dey sova d consequences Buhari may turn to be a saviour in nx 4 yrs to come why are we like this

This CBN gov no get sense.....what do you expect when dollars is scarce .....make debit cards easy to assess dollars at bank rate and watch black market bring their price down

Money hoarding is one of the major causes of inflation, when there is shortage of currency in circulation,they want to buy dollar now to shortchange it to new naira in future, they're creating artificial exchange increase rate. Activities of the operators of BDC need to properly monitor by the CBN only licensed operators should be allow,it was the illegal operators and unauthorized people holding dollars that efcc is about and the curb illegal activities.

lifestyle1:


Wise one!

What if the government ban black market?

How possible is it ban black market?
Black market is already banned and illegal. They adviced us against buying in the black market but because of the high rate in the black market all Nigerians prefer to trade their USD there.

Curious345:
hnmm

The BDC's have done more harm to Nigeria than the ISWAP and bokoharam combined .. they should be proscribed

BDCs have no real control over black market prices. There is dollar scarcity on the street and BDCs don't print dollar notes. The vast majority of dollars entering this country is from the proceeds of crude oil sales which goes directly into the federal govt's account. The majority of Nigerians don't have access to this.

Bobloco:


https://punchng.com/clampdown-currency-traders-petition-igp-to-write-senate-cbn/?amp

Nothing go happen how do they even get the foreign money something that only the banks should control. Some Fulanis just continue.nowhere controlling it. Since a very longtime

Some people just they talk wetin them no Sabi...'they should prescribe them' as in how?..BDC operators full the streets of central London so what are they talking about?...just make people not to have have interest in these foreign currency simple...these politicians will destroy this country to a point of no return, I remember when a politician in Nigeria suggested that out budget should be written in Dollars...now in trying to solve a problem you further exacerbate the problem by redesigning the naira, making people to hoard more dollars and increasing the scarcity..the problem is coming from the dollar flow that took place during the party convention there is a huge gap as most of these money have been stored in paper form and unspent so it has distorted the circular flow of money...so we the citizens will have to pay for it by experiencing higher inflation and high level of interest rate...it's a no brainer!!

linearity:


The blame should be pointed at CBN who is enabling & funding their existence!

If CBN start making dollar available at our local branch and at the rate they are selling to their friends and cronies, BDCs will die a natural death the next day.

Well
It is still inevitable for the naira to lose value
That wan is certain
And because of the scarcity of dollars .....you can't just run from these bdc operators
The cbn will comeback to make use of them

Under the hypocritical, munafiki Buhari, corruption has become uncontrollable,
rampant, daring, pandemic and is gradually
killing the country..

Military, Petroleum, finance, CBN,
APC stalwarts, Buhari family members,
governors, in fact anything or anyone
connected to this government.❌❌

Sad thing is, the poor citizens are the
ones taking the hit for all the corruption.☹️☹️


What a mistake Tinubu visited on us❗️❗️❗️

lifestyle1:


Imagine if they ban them and carry out all FX transactions through bank.


I need old inactive Fiverr buyer account.

Send me a message through my signature.

Aboki no fit stop en brother business.

This redesign thing is the best policy of the CBN in this Era. Those BDC guys have infiltrated the banks to the extent that there's little or no way the CBN can block the leakage of dollars when they give fx to the banks

rajiedreez:
This redesign thing is the best policy of the CBN in this Era. Those BDC guys have infiltrated the banks to the extent that there's little or no way the CBN can block the leakage of dollars when the give fx to the banks

Is it not the same cbn that is using quota system to provide dollar.thereby creating an artificial scarcity
So what do you expect if you have your own private dollars sell it at cbn rate

Does JESUS Tell us to kill our Enemies?
https://www.nairaland.com/7419453/bible-verses-prove-supreme-wisdom#118161600

This is the catch 22 situation a nation in self deceit will continue to face. We simply cannot admit that we continue in vain to proceed in error. We know that without restructuring we can never make progress meaningfully.

We know this black market thing is killing us slowly but surely, but like narcotics the day we try to stop we die horribly, because we are addicted to wrongdoing.

Where else in the world do you have ten, twelve exchange rates essentially meaning ten, twelve economies in one country.

But when we have a nation where rent seekers want the same prosperity as hard, innovative workers, this is the result. Hard work will never question the need for a single rate because it will readily live by its means, cut it's coat according to it's cloth.

But those who want the mindless, sick, immoral government contracts to continue perpetually will not agree. Those who want to fly jets and ride arnoured cars on the backs of hard working Nigerians at home and abroad will never agree. Those who will be quick to buy 20 million naira dogs instead of training theirs will surely kick.

So why won't the axe be angry that it cannot cut down more trees.... why won't the currency mongers react. And what is stopping them from getting a simple computer and joining the plethora of forex traders the world over to see the reality of just how easy or hard it is to make a honest buck from the real currency market.

The more CBN print Naira, the more it became scarce. I couldnt get mint in banks again. My banker friend said he haven't seen mint for 2years in their bank. So, where are d new notes going?
Now banks will know those hoarding our currency cos they will bring them out now.

Moreover, most of our notes will perish in Soak aways of some of our politicians,governors, pastors,who have travelled out of Nigeria

The best way to tackle this is for the government to look for ways to encourage exports so that the country can earn more forex

Did he actually tell EFCC to start from the presidency and the ministries? These BDC guys get mouth o... Looooool