₦airaland Forum

Ok

Nigeria will have a serious FX inflow problem. No one will use banks with their rubbish FX rate. Crypto all the way!

mycar:
How then will BDC can get in flow?

BDC will die. Their activities will be limited to airport and shopping malls as obtains abroad.

OlujobaSamuel:
Better, we are getting there

You and who?.

Namaster:
Tinubu and Cardoso have made another HUGE mistake.

Fools are tightening the noise around banks receiving Forex inflow when there are LITERALLY tons of other ways to receive your money.

No one will use banks to receive money with their nonsense exchange rates when there are better options out there.

Cardoso is a prime example of an extremely inspired idiot.

Imagine creating more hurdles for receiving Forex when the country is already groaning about NOT receiving any Forex in the first place.

That's like pouring MORE water on a drowning man.

Tinubu has no idea what to do with Nigeria. He's too proud and too nepotistic to get people who can help him out of the mess he's created.

Oga, don't forget to tell us ur own solution to forex crisis oo, after u have attacked and attacked the policy.

And dnt shy to tell us "who and who" that can help him. Maybe they should impose you as CBN gov.

The last CBN and finance minister, we know where they came from and how they ended ooo

This has been on ground. How is it new?

mycar:
How then will BDC can get in flow?

The poor ones will always suffer in Nigeria,the politicians will be the one to collect the dollars from bank to exchange from Abokis.

Let's spend naira in Nigeria, that's all.

Mavor:
Nigeria will have a serious FX inflow problem. No one will use banks with their rubbish FX rate. Crypto all the way!

Which rubbish rate?

They sometimes have better rates than street. The spread or arbitrage between both rates is very small. They knew what they are doing when they allowed NGN to fall.

BreconHills:
BDC will die. Their activities will be limited to airport and shopping malls as obtains abroad.

Not possible you'll be surprise to know that banks sell to bdc

I hope they are joking? ..... Nigerian electorates always bring up Policies that never touch the people who are causing this problem...what a shame


https://www.youtube.com/watch?v=W1wOu-yXo7o

ivolt:
May be counterproductive in the long run unless the official and parallel rates
is stabilised.

people will simply intercept the forex inflow at a better rate through social media. That way a new black market is borne and the rates may reach N2500 for a USD then.

Namaster:
Tinubu and Cardoso have made another HUGE mistake.

Fools are tightening the noise around banks receiving Forex inflow when there are LITERALLY tons of other ways to receive your money.

No one will use banks to receive money with their nonsense exchange rates when there are better options out there.

Cardoso is a prime example of an extremely inspired idiot.

Imagine creating more hurdles for receiving Forex when the country is already groaning about NOT receiving any Forex in the first place.

That's like pouring MORE water on a drowning man.

Tinubu has no idea what to do with Nigeria. He's too proud and too nepotistic to get people who can help him out of the mess he's created.

You are a very brilliant man.

Forkthiefnubu:
The aboki jiahadist seems to know more about liberal economics than the fake lagos wiz kids, i have always known that these scare face boys are full of hot air

We all know that the IPOB terrorist cannibal religious fanatical monkeys don't know jack besides peddling drugs and eating humans.

The Agulu yes Daddy religious fanatical packaged fraud was only capable of bringing a brewery to Anambra in 8 years.

Thank God for crypto.. govts and their messing with people's money is a global thing

Macphenson:
Nnaaa mehn, I thought Tinubu is a master strategist, I never knew he is a trial and error strategist.

On this issue of dollars scarcity, stop corruption and looting by our politicians and civil servants and trust me we will have enough dollars in circulation.

When they loot in Naira, they use their loots and by up the dollars in circulation and store in either their bank accounts, or their vaults at homes.

Most of these estates in high brow areas in Lagos and Abuja with tight securities have so many vaults in them.

We should stop.corruption, but it won't improve our dollar supply.

Davicl:
Not possible you'll be surprise to know that banks sell to bdc

That won't last. BDC are largely owned by politicians which is why naira falls after every FAAC allocation.

Let BDC return to international airports and select shopping malls where they started from.

Kaido:
Na to dey send USDT wallet address

the bank rate is high too..on same level with blackmarket

ivolt:
May be counterproductive in the long run unless the official and parallel rates
is stabilised.

That's what they intend to achieve cos if there are no dollars to sell to the black market traders, everyone will go official as you won't want to buy from the black market traders at a rate higher than what the bank will convert to when you're done with your own trades and want to convert back.

Namaster:
Tinubu and Cardoso have made another HUGE mistake.

Fools are tightening the noise around banks receiving Forex inflow when there are LITERALLY tons of other ways to receive your money.

No one will use banks to receive money with their nonsense exchange rates when there are better options out there.

Cardoso is a prime example of an extremely inspired idiot.

Imagine creating more hurdles for receiving Forex when the country is already groaning about NOT receiving any Forex in the first place.

That's like pouring MORE water on a drowning man.

Tinubu has no idea what to do with Nigeria. He's too proud and too nepotistic to get people who can help him out of the mess he's created.

have you seen the new bank rate now

Macphenson:
Nnaaa mehn, I thought Tinubu is a master strategist, I never knew he is a trial and error strategist.

On this issue of dollars scarcity, stop corruption and looting by our politicians and civil servants and trust me we will have enough dollars in circulation.

When they loot in Naira, they use their loots and by up the dollars in circulation and store in either their bank accounts, or their vaults at homes.

Most of these estates in high brow areas in Lagos and Abuja with tight securities have so many vaults in them.

This is the elephant in the room that Cardoso cannot see. Nigerians remit more than $20 billion into the country yearly, but corrupt politicians sweep up all the dollars and store in banks abroad or invest in properties abroad.

The CBN is attacking ordinary Nigerians remitting dollars home instead of preventing politicians from taking the dollars abroad.

RepoMan007:
people will simple intercept the forex inflow at a better rate through social media. That way a new black market is borne again and the rates may reach N2500 for a USD then.

That already exists in various forms from online currency exchangers to IMTOs.
But only the informed and financially literates can use such method.
So, the CBN will gain from those uncles and parents receiving money from their
relatives while losing out from the tech-savvy younger receivers.

So, it boils down to who receives forex inflow the most, the old or new generation.

Namaster:
Tinubu and Cardoso have made another HUGE mistake.

Fools are tightening the noise around banks receiving Forex inflow when there are LITERALLY tons of other ways to receive your money.

No one will use banks to receive money with their nonsense exchange rates when there are better options out there.

Cardoso is a prime example of an extremely inspired idiot.

Imagine creating more hurdles for receiving Forex when the country is already groaning about NOT receiving any Forex in the first place.

That's like pouring MORE water on a drowning man.

Tinubu has no idea what to do with Nigeria. He's too proud and too nepotistic to get people who can help him out of the mess he's created.

I see your point and you made it well, but the government is running low on forex and thus we have the result

But as you have eloquently implied it does not solve the underlying problem. Nigeria is not earning enough dollars and raiding the banks and people's dollar supplies is not going to solve the underlying problem

🤣🤣🤣😂😂
So I don't know where gift card is or usdt address
Creating more problems than themselves

Lol. Crazy times. At what rate? Bank rate? Why would I need a domiciliary account if I can't keep the money in USD? If my money will be converted to Naira why not just send my funds through Geegpay and convert it to naira at higher rate? Lol. Clowns.

Very bad policy
.

OlujobaSamuel:
Better, we are getting there

Lol because you are not abroad you are shouting better
Once it’s implemented people abroad will stop sending dollars and guess what??
You will know what better feels like with your poor economics skills

Inspirer1:
That's what they intend to achieve

We can't achieve that with decrees alone especially when swimming in foreign debt.

What's this nonsense, is that not what they do before?!

Realdeals:
It's a good policy to bolster the Naira, IMTO fund is different from inflows to Domiciliary acct. But, the bank that convert my USD to NGN, should be able to provide me with USD if the needs arises, especially for basic online transactions. Maybe it is time to reactivate USD transaction on Naira card.

Na only you don make me understand the write up ....thanks