Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN - Business (3)

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Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN (28276 Views)

Nigeria's FX Crisis: What You Should Know By Kingsley Moghalu / Signposting Confidence, Nigeria’s FX Inflow Hits $30.45bn In Q4 / Aishah Ahmad: Profile Of The CBN Deputy Governor (2) (3) (4)

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Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Solsix(m): 4:45pm On Sep 11, 2023

Backpedal:
Cosmetic solutions never work

Lol

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by EconomistXplain: 4:46pm On Sep 11, 2023

obembet:
Cos na YORUBA man get am

thank God u see am...yoruba connection.

Same thing all banks have been doing recently on their website

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Pesuzok(m): 4:48pm On Sep 11, 2023

donbrowser:
This literally means we'll have 3 rates going forward:

CBN rate
Swap rate
BDC rate

Swap will be the official black market rate which the government will use to checkmate and control the BDC since Banks are sabotaging the official trading platform. Swap's rate will also have enough virtual dollars that will bring the rate very close to the official rate.

This is a game. Let's see how it goes

The rate on SWAP is even higher than black market

1 Like

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Rufai1314(m): 5:03pm On Sep 11, 2023

I didn't understand.

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by makaveli902: 5:04pm On Sep 11, 2023

Pesuzok:

The rate on SWAP is even higher than black market

Have you checked it?

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by CharlesofJesus: 5:34pm On Sep 11, 2023

Can you please tell us in what way as flutterwave as a company duped you or anyone you know that will warrant them to be behind bars?

NuCypher:
This flutterwave fraud of a CEO is still parading himself around in Nigeria? Someone that'd be behind bars in the US like Shrekli or SBF.

1 Like

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Obagreatdatoye(m): 6:10pm On Sep 11, 2023

That's yoruba agenda progressing....I love it anyways....

Wema bank
Flutter wave

Omo oluabi combo

1 Like

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by nathyx(m): 6:50pm On Sep 11, 2023

Good development! too bad flutterwave is an untrustworthy money payment platform and wema bank, know for supporting fake ponzi schemes know to defraud people of their money, one can little wonder what this union of Two illegally corrupt organizations can bring to Nigerians. cool

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by amerengues(m): 7:02pm On Sep 11, 2023

Fearyourcreator:

So na three month production exportation and refinery go start... Make una Sha dey calm down... All these things dey take time na... At least make people use the one wey dey ground for now pending when the others ones comes on

I am objective here! I also preach we give the government more time. However, even when all these can't be achieved in a short time, the foundations to achieving the aforementioned points should have been laid bare!

What are the plans they have made regarding it? Foundation is all I seek.

1 Like

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Fearyourcreator: 7:07pm On Sep 11, 2023

amerengues:

I am objective here! I also preach we give the government more time. However, even when all these can't be achieved in a short time, the foundations to achieving the aforementioned points should have been laid bare!

What are the plans they have made regarding it? Foundation is all I seek.

I understand your point ... Still all these things can't still be fast tracked for it be a long time enjoyment

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by SkyFi: 7:09pm On Sep 11, 2023

ecolime:

God bless you.

We keep deceiving ourselves. A nation that imports over 80% of its consumption will always have FX problems.

But think about this, Nigeria has a very high forex remittance from family and friends, I think one of the highest in the world, that can reduce the issue

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Kay25(m): 7:20pm On Sep 11, 2023

Backpedal:
Cosmetic solutions never work

Provide ur own solution let's see

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Pesuzok(m): 7:24pm On Sep 11, 2023

makaveli902:

Have you checked it?

Yes

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by bigtt76(f): 7:24pm On Sep 11, 2023

They've formally legalised black market that is and indirectly reigning in the likes of Lemonade etc

donbrowser:
This literally means we'll have 3 rates going forward:

CBN rate
Swap rate
BDC rate

Swap will be the official black market rate which the government will use to checkmate and control the BDC since Banks are sabotaging the official trading platform. Swap's rate will also have enough virtual dollars that will bring the rate very close to the official rate.

This is a game. Let's see how it goes

1 Like

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Basicend: 7:28pm On Sep 11, 2023

nathyx:
Good development! too bad flutterwave is an untrustworthy money payment platform and wema bank, know for supporting fake ponzi schemes know to defraud people of their money, one can little wonder what this union of Two illegally corrupt organizations can bring to Nigerians.

I tell you. . Wema Bank stinks. . I sent 3 emails to the resolver unit, up till now, no response , no resolution. . Matters that GTBank and the rest would resolve within 39 minutes.

1 Like

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Legitmenaija: 7:42pm On Sep 11, 2023

Please is this goodnews to international students abroad? And prospective international students.

Will it be possible to pay fees directly instead off using form A that takes soo much time?

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by kuntash: 7:50pm On Sep 11, 2023

Like play like play,

almost all posts seem to be linked to tribal or regional bigotry ,

if this continues, it would amaze ALL the perpetrators to the extent it would consume them and the country.

It is worse than what the politicians are even doing. You hardly read thru a post these days that doesnt concern tribal war.

Terrible!

3 Likes

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by amerengues(m): 7:56pm On Sep 11, 2023

Fearyourcreator:

I understand your point ... Still all these things can't still be fast tracked for it be a long time enjoyment

It's ok. I sincerely pray this country take a new turn. Enough of Nigerians traveling abroad to do demeaning jobs just because their country has unrepentantly dashed their hopes. Nigeria shall be great

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by XAUBulls: 8:11pm On Sep 11, 2023

nlfpmod:

https://techcabal.com/2023/09/11/flutterwave-swap/

Cashless FX.

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Backpedal: 8:38pm On Sep 11, 2023

ecolime:

God bless you.

We keep deceiving ourselves. A nation that imports over 80% of its consumption will always have FX problems.

Well
Let's continue to deceive ourselves lol

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by JaskanFactor: 8:50pm On Sep 11, 2023

they want to make everything cashless to give them full control of peoples lives.
cause when there is no more cash, thats when they will come out with the wickedness they have planned, like that partner that keeps all their bad behaviour in check till they move into your house.
God punish all of you and your wicked plans, there is nothing wrong with cash.

Once there is no more cash, they will decide what you can buy, and what you cant buy, and who can trade.
they want to have full control of all transactions between people.
What will they do with that power, given they already sponsor terrorists and kidnappers today.

2 Likes

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by JaskanFactor: 8:53pm On Sep 11, 2023

thier plan is not to improve fx, they are going after cash, just like the banks too are now attacking cash.
So that the beast can have full control of all transactions

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by obyno82: 8:56pm On Sep 11, 2023

iammo:

When you have a Financial expert like Tinubu running the Affiars of the Nation

Expect ingenious technogical and financial solutions to our Economic National problem

.

Dude stop this naaaa. This is pure eye service, ask yourself does flutterwave have the FX to back transactions on this platform? This will still lead to them holding back transactions until they get FX and mind you according to the new CBN operational guideline it is the Fintech that provides the FX inflow not the BDC, so I wonder where flutterwave would get FX.

1 Like 1 Share

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Meerahbel: 8:57pm On Sep 11, 2023

amerengues:
Election is over and I would expect any well meaning Nigerian to support the government on the throne.

How ever, this is obviously a cosmetic approach to resuscitation of the economy- it won't last long before the main problem resurface again!

It's better we tackle the problem than giving a transient and ephemeral solution.

What happens to our local production? Exportation? Refinery? Etc

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by obyno82: 8:57pm On Sep 11, 2023

Destroyerofyeeb:
Enemies of Yoruba people will wail tire

Another childish response from you.

1 Like

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by obyno82: 9:00pm On Sep 11, 2023

donbrowser:
This literally means we'll have 3 rates going forward:

CBN rate
Swap rate
BDC rate

Swap will be the official black market rate which the government will use to checkmate and control the BDC since Banks are sabotaging the official trading platform. Swap's rate will also have enough virtual dollars that will bring the rate very close to the official rate.

This is a game. Let's see how it goes

This thing will still backfire. The platform follows CBN operational guidelines which state that the fintech would provide the FX inflows while the BDC provides the Naira cover. Flutterwave is not liquid enough in FX. It will still lead to them delaying transactions so that they can get dollars.

1 Like

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by obyno82: 9:02pm On Sep 11, 2023

winterfell007:
This plan could work, I trust Nigeria's fintech unicorn, Flutterwave to provide that solution that would singlehandedly rid the black market of dishonest speculators that have caused our currency so much losses.

They are the real speculators have you checked the platform lately Swap Naira for dollars and check the rate. It is 937naira

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by saysoo: 9:04pm On Sep 11, 2023

nlfpmod:

https://techcabal.com/2023/09/11/flutterwave-swap/

Who enter creates oppurtunity for his cronies to loot. Nothing, no magic can solve Nigerias FX problem except Production, production,production. We are way too many. If you see the numbers of Trailers leaving the North daily, you will think we are ok but hunger persists.

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by obyno82: 9:05pm On Sep 11, 2023

Obagreatdatoye:
That's yoruba agenda progressing....I love it anyways....

Wema bank
Flutter wave

Omo oluabi combo

So it is not about Nigeria, but about Yoruba abi. Your tribalism stinks walahi

1 Like

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Fearyourcreator: 9:43pm On Sep 11, 2023

amerengues:

It's ok. I sincerely pray this country take a new turn. Enough of Nigerians traveling abroad to do demeaning jobs just because their country has unrepentantly dashed their hopes. Nigeria shall be great

I feel bad too about this... It's our dream to see this country come great

Re: Flutterwave Launches Swap To Solve Nigeria’s FX Problems, Backed By The CBN by Projectors(m): 9:55pm On Sep 11, 2023

I hope this stop the continue rise in the Dollar.

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