See the dude that has been preparing to be president before he was born flipfloping like olosho's slippers.

Chai, this country. APC na wayo!
When Obi went to Egypt to inquire about how we can improve our power sector, they mocked out of sheer stupidity and ignorance.
Now, they went to Egypt to borrow.
Nigeria sorry.

I said in the post " all domiciliary accounts should be liquidated first after the announcement of the new N80 per $ rate" using your example above new cars will be cheaper to assemble in Nigeria because their cdk parts will be brought in at the official rate of N80 per $. The example you stated above is a cash based transaction as your friend in Germany is an individual not a company. In the implementation of the policy I stated above each country all over the world will have a finite amount of companies money can be sent to. Payment to those countries may not be in cash even when cash was collected from you. There is what we call " Terms of trade" between countries that will have to be implemented for settlement of trade between those countries. Let me use your Germany example the terms of trade could be 100 knocked down car components for 1000 barrels of oil. If you apply form M you will find out no cash will be given to your friend as the balance of trade specifies cdk parts , you will need to go to parallel market at far higher rate to get cash to send to your friend. Unfortunately when you bring the car to Nigeria it will be far too expensive as such you can't sell it and will not be encouraged to repeat such business. This policy will be favourable to manufacturing in Nigeria while at the same time making importation of finished goods way to expensive. Don't forget an economic intelligence unit will monitor new industries producing machinery ,parts and chemicals previously imported. Why give MR A money to purchase a car when cars are assembled by more than 4 different companies within the country ? Such a person will have to proceed to parallel market to get dollars and send to his friend in Germany. Cars will by then be off the list of items Gov dollars can be used for. People requesting for dollars for medical tourism and education will have to proceed to parallel market as their degrees probably are available within the country in both public and private institutions. Don't forget this policy is for people who don't generate dollars but want dollars for reasons. For people who generate dollars a different set of rules can apply to them . This will further make citizens engage in export or service based businesses that generates dollars to repatriate to the parallel market for huge gains. Summary " people demanding dollars will be discouraged while people generating dollars will be encouraged"

masseratti:
nice idea but it seems you don't know how savvy we Nigerians are, let me give u an example that is happening and that will still happen if the govt still maintain a window for exchange apart from the parallel market even if it's non cash based.. I open a dorm account, but dollars with my 10m got lets say 7200 current official rates on my govt form which I use to apply for the purchase which is form M I calm I want to buy x chemical for my company to produce y product, x chemical is sold in Germany, I have a friend in Germany, I tell him to give me his account.. I transfer$7200 to him collect $7100 either in cash or I tell him to do a transfer for a used vehicle eg a Toyota camry 2015 model, I ship it in, pay the required 30% on import duties on cars sell car for 16 million naira... That's another form of round-tripping.. Don't underestimate Nigerians we can go to any length to take advantage of any loophole..
There won't be a stop to the slide of naira until the official window is closed and let everyone buy and sell at the parallel market rate both CBN, Bank and BDCs... That's when the currency will stabilize, when that is done Government can gradually increase wages quarterly. Minimum wages should be negotiated by FG for federal staffs and respective states should negotiate their own minimum wages according to their various state economy.. That's the only way forward.

Taylor90:
At the end na still South South Oil them go use salvage the Mumu naira at the expense of our destroyed and damaged soil that that can’t grow a mere grass

Na we still dey suffocate with black soot all over Niger Delta while the barren region eat fat on our Mumu disunity

Omo Abeg I no wan vex this evening

Igbo is your problem

Loan to stabilise naira...wow.

leokid866:
lol so we are back to the zoo....shebi during elections you people remembered you were Nigerians and wanted to be president.....what now happened 🤣🤣🤣

Look am not from d SE but this cun3 is looking like a zoo to me now.

Patch patch no dey work. E go still tear

Borrowed to Loot

skj1377:
I said in the post " all domiciliary accounts should be liquidated first after the announcement of the new N80 per $ rate" using your example above new cars will be cheaper to assemble in Nigeria because their cdk parts will be brought in at the official rate of N80 per $. The example you stated above is a cash based transaction as your friend in Germany is an individual not a company. In the implementation of the policy I stated above each country all over the world will have a finite amount of companies money can be sent to. Payment to those countries may not be in cash even when cash was collected from you. There is what we call " Terms of trade" between countries that will have to be implemented for settlement of trade between those countries. Let me use your Germany example the terms of trade could be 100 knocked down car components for 1000 barrels of oil. If you apply form M you will find out no cash will be given to your friend as the balance of trade specifies cdk parts , you will need to go to parallel market at far higher rate to get cash to send to your friend. Unfortunately when you bring the car to Nigeria it will be far too expensive as such you can't sell it and will not be encouraged to repeat such business. This policy will be favourable to manufacturing in Nigeria while at the same time making importation of finished goods way to expensive. Don't forget an economic intelligence unit will monitor new industries producing machinery ,parts and chemicals previously imported. Why give MR A money to purchase a car when cars are assembled by more than 4 different companies within the country ? Such a person will have to proceed to parallel market to get dollars and send to his friend in Germany. Cars will by then be off the list of items Gov dollars can be used for. People requesting for dollars for medical tourism and education will have to proceed to parallel market as their degrees probably are available within the country in both public and private institutions. Don't forget this policy is for people who don't generate dollars but want dollars for reasons. For people who generate dollars a different set of rules can apply to them . This will further make citizens engage in export or service based businesses that generates dollars to repatriate to the parallel market for huge gains. Summary " people demanding dollars will be discouraged while people generating dollars will be encouraged"

i like your believe in "rules" and "laws" but you forgot it's Nigeria.. No matter the system you try to put on place that has two set of rules for same things different purpose, it will be abused in Nigeria.. One or if not one of the fundamental problem of Nigeria is the enforcement of laws.. Law enforcement.. It's almost non existent or extremely weak.. Even the law enforcer will be the law enabler or breaker, in your post you said there will be economy intelligent unit, my brother we already have efcc and SFU, that's their job, but is it working? My point is very simple, you know the kind of environment you are dealing in, if you want to encourage manufacturing, there are other ways to encourage it not by creating an exchange rate privilege platform that can be easily abused by others who are not manufacturing, the CDK example you are posting am very close to Auto dealers and I know personally an assembler.. I my self imported parts to be used on cars in 2013 2015,i know the rules and I know how people by pass it.
Instead of selling $ to manufacturers at & 80, you can give them tax breaks, custom duty waivers or even subsidies their production, in that way you keep the $ rate exchange single and stable and not open to arbitrary abuse in any way. Rather than your complex method that will require a lot of man power to monitor who is abusing the system or not.. Am not saying your point is not good.. But it can only work in a law enforcing environment like China, USA or even morroco.

Phraences:


So make dem shut down I & E window make Aboki dey determine Forex rate. Na wa for Una.

no Aboki cannot determine what they can't control.. Let me. Ask you a question, can you walk into the bank right now and buy $100? Without filling any form or paper work? Even if you filled it correctly will it be sold to you? The answer is no.. But some people are buying it even $100000,they are in the same country so of what purpose is the I&E window to you.. None

Infact it's hurting your bank account because it's making the value of your account balance lower than it was last week, same amount lesser value.. Bread of 150 naira day before yesterday is now 200 naira. What's the point of your I&E window?
This is the same method Nnpc used under Buhari, claiming petrol has been deregulated.. Meanwhile they were still fixing prices and paying subsidy, who is deceiving who? If you want to truly float the naira close the I&E window and sell at the parallel market price.. Buy at parallel market price, since the CBN is the highest holder of $ or NNPLC or the IOCs, those are the ones that will control the flow and the price of the $ against the naira.. Not the aboki on the street.. I net you under one week most of them will even close shop and find other source of income.

billyG:

Look am not from d SE but this cun3 is looking like a zoo to me now.

oh and which animal are you?

leokid866:
oh and which animal are you?

The animal call Human being what of you?

billyG:

The animal call Human being what of you?

no animal is called human....you're either human or animal.....now please scratch your monkey brain and decide which animal you are 😂

a4cube:
As CBN or what?

Help me ask them oooo.

This NNPC Kyari of a man is delving into too many things uninvited.

I wonder why Tinubu is still retaining him.

Trust him at your own peril.

leokid866:
no animal is called human....you're either human or animal.....now please scratch your monkey brain and decide which animal you are 😂

Yo FATHER!

billyG:

Yo FATHER!

🤣🤣🤣🤣 shebi na you talk say zoo we dey......and you be baboon you live in the zoo.....😂😂😂