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Nairaland Forum / Nairaland / General / Business / Can't Send Dollars To Nigeria Any More (59473 Views)
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Re: Can't Send Dollars To Nigeria Any More by Coldspice: 1:09pm On Feb 09 |
ExudeLoveToAll: Hypocrite, tell that to your idiotic kinsman who he responded to. 4 Likes 2 Shares |
Re: Can't Send Dollars To Nigeria Any More by Noblemanonpoint: 1:09pm On Feb 09 |
ValarDoharis: I'm not so big on Economics, please explain how that is different. If the people in Diaspora pay themselves to send the Naira back home doesn't that create demand for the Naira? Same way we buy dollars back here in Nigeria. Because, i'll assume they'll use dollars to biy naira and send back home thereby creating demand for the Naira and increasing its value. In my opinion, i think it's a good policy, let's see. So many foolish and illiterate Nigerians are already spending Dollars to buy things here in Nigeria. 1 Like |
Re: Can't Send Dollars To Nigeria Any More by Kay25(m): 1:09pm On Feb 09 |
BitterTruth01:Stick to ur agbero economics wey u sabi from ariara market 1 Like |
Re: Can't Send Dollars To Nigeria Any More by Coldspice: 1:10pm On Feb 09 |
true2god: Yorubas who built empires when your fathers were still living in trees and fighting for bananas. Chinaza, dey play. 4 Likes 2 Shares |
Re: Can't Send Dollars To Nigeria Any More by wman(m): 1:10pm On Feb 09 |
Ttalk: It's a dumb decision. Less dollar inflow will mean scarcity of dollars and further increased rates. |
Re: Can't Send Dollars To Nigeria Any More by kiddkash(m): 1:11pm On Feb 09 |
Ttalk:Commot eye for person money, go hustle your own 3 Likes |
Re: Can't Send Dollars To Nigeria Any More by Coldspice: 1:11pm On Feb 09 |
Omoawoke: Na Naira them go give am. 1 Like |
Re: Can't Send Dollars To Nigeria Any More by good4all40: 1:12pm On Feb 09 |
To make this policy perfect, please allow our Naira visa and MasterCards to be eligible to buy things and services on international platforms instead of running to third party online vendor if we need to buy something online with crazy convertion rate. Please hear our cries! 6 Likes |
Re: Can't Send Dollars To Nigeria Any More by Goodnewsforlife: 1:13pm On Feb 09 |
BitterTruth01:oga keep quiet if u don’t have what to say U think running the economy is like managing a 2 by 2 shop? So we should allow people to have dollar reserve when others need it for day to day activities If not that u ain’t wise, all those dollars sitting in those accounts without use, how will that help d economy? Don’t u think it will weaken d naira d more? 1 Like 1 Share |
Re: Can't Send Dollars To Nigeria Any More by Lovit(m): 1:14pm On Feb 09 |
Cardi B can also come here on NL and get ideas on how to save Naira too There is no need forcefully converting peoples dollar balances in the bank to Naira, just let them be Only raise a policy that you can only transfer or withdraw it in Naira equivalent, that way people either convert it on their own or it remains useless to them in their account. 2 Likes |
Re: Can't Send Dollars To Nigeria Any More by Tgirltemmy(f): 1:15pm On Feb 09 |
Throwback: This is what Emefiele used to bolster usdt inflow. A lot of you don't understand the complexity of forex, especially with these fintechs, sadly CBN don't know any better. 1 Like |
Re: Can't Send Dollars To Nigeria Any More by Annie2059: 1:17pm On Feb 09 |
Does this also mean I can send naira to one abroad and it converts to their currency? 1 Like |
Re: Can't Send Dollars To Nigeria Any More by Miyachi: 1:17pm On Feb 09 |
Throwback: I love it when people who have never left the shores of Nigeria suddenly become experts in international monetary policies. Even in Communist China you can buy and sell goods in USD and save your money in the bank in USD. What they should be thinking of is how to clear the outrageous foreign debts taken by the previous administration and generating new sources of income. Instead they go about stealing people's money. 2 Likes |
Re: Can't Send Dollars To Nigeria Any More by inosuke(m): 1:19pm On Feb 09 |
Ttalk:See the way you are talking like you know economics, subsidy removal is good to avoid deficit leading to more debt but tax people for holding dollar is wrong, they should focus on the naira and inflation or the black market would be bigger than it is 1 Like |
Re: Can't Send Dollars To Nigeria Any More by AshipaEk0: 1:20pm On Feb 09 |
Good lord, It has become very apparent that this country cannot progress when the average individual is this ignorant about financial matters and economics Some believe dollars is sitting down in bank accounts gathering dust others believe when Dollars is sent from abroad through banks its the physical dollars that is mailed in others believe when the govt requires conversion of remittances to naira, it means the banks will actually receive dollars they they will in turn dash the govt or random people asking for USD in Nigeria Good lord 4 Likes |
Re: Can't Send Dollars To Nigeria Any More by sheeda995(f): 1:21pm On Feb 09 |
Didi2d:If this means I won't be able to send money to my loved ones,why will I support useless law. If security is not fixed nothing will get better in Nigeria 1 Like |
Re: Can't Send Dollars To Nigeria Any More by Akinpresident: 1:21pm On Feb 09 |
Throwback: I know. My point is that, I wasn't operating any dorm account until that change. |
Re: Can't Send Dollars To Nigeria Any More by NAC1666: 1:22pm On Feb 09 |
Hx1x:The policy was initially used by the Buhari administration. This kept dollar exchange low. Tinubu came, without asking any questions, cancelled all the policy and introduce dollar-naira unification. Am glad he is just waking up. The next step is to convert all Dollars domicile in Nigeria banks to naira at withdraw. All deposited dollar should be used for school fees and hospital bills request. 1 Like |
Re: Can't Send Dollars To Nigeria Any More by Svoboda(m): 1:22pm On Feb 09 |
Acidosis: Globalization under whose terms, the west? Globalization is a cancer that erodes our sociocultural values and replaces them with western liberalism which always advocates freedom to transgender, consumerism, materialism, and so on. Can you compare the quiet nigeria of the 1960s with what we have today? . |
Re: Can't Send Dollars To Nigeria Any More by Abufo: 1:22pm On Feb 09 |
InvertedHammer: which exchange rate............oga? the magical official rate or the closer to reality black market! Your obscurantist argument is rather annoying! 1 Like |
Re: Can't Send Dollars To Nigeria Any More by Throwback: 1:24pm On Feb 09 |
Miyachi: Are you talking about the same China that the US has been pressurising for decades to devalue their currency relative to the US dollar? Those ones use dollars like it is tissue paper and give it any value as they chose to. 4 Likes |
Re: Can't Send Dollars To Nigeria Any More by Ate247(m): 1:26pm On Feb 09 |
Throwback:You are insane to say this. So I shouldn't go to any school with my own money. 2 Likes |
Re: Can't Send Dollars To Nigeria Any More by Throwback: 1:26pm On Feb 09 |
sheeda995: Send your money to them. The CBN will keep the dollars and give them the Naira they need to spend in Nigeria. 3 Likes |
Re: Can't Send Dollars To Nigeria Any More by inosuke(m): 1:26pm On Feb 09 |
Svoboda:Bro you dey mumu oh, you think Nigeria is globalised Globalization is our hope, we should open border to cheaper goods from abroad if our currency is constantly suffering from inflation alternatives must be taken to avoid another story that touches 1 Like |
Re: Can't Send Dollars To Nigeria Any More by BigIyanga: 1:26pm On Feb 09 |
Throwback:Ejiotic policy. Foreign graduates are the backbone of Naija FX.. they make good 💰£€ when they graduate and send a lot $€£ to Naija. Naija diasporans send more FX to Naija than our annual budget.. dont be hating from outside tje club when you cant get in lol 2 Likes |
Re: Can't Send Dollars To Nigeria Any More by CatchMeIfUCanMO: 1:27pm On Feb 09 |
Throwback: With this comment of yours, it is obvious you are not financially stable even to the lowest level. FYI, that will make the matter wo rse for you and your likes because people will eventually find a way around it and you know what that means. They won't listen to your stew pead talk because it is not a crime and not even a problem to begin with. I was expecting you to tell your paymaster and his team to ban foreign medical trips among political appointees and politicians, but no like a slave and master relationship, you won't see any bad in that but in what others choose to do with their money. You left the real problem and start "shooking" your eyes in what others choose to do with their money and lives, and not what your paymaster and his team are doing with taxpayers money. Outside Nigeria, people from different countries travel to foreign universities for education and it never affected their countries economies. What you are suffering from is call en vy, jeal ousy and crab ment ality because you can't get such life, others shouldn't get it. 6 Likes |
Re: Can't Send Dollars To Nigeria Any More by abbey621(m): 1:27pm On Feb 09 |
We've played this game before and we all know the aftermath. Scarcity of dollars, increase in peer to peer fx transactions. A minor strength in the Naira for a short period followed by a massive drop. An economy that is reactive instead of proactive will sooner than later meet its waterloo......Dey Play! 2 Likes |
Re: Can't Send Dollars To Nigeria Any More by Throwback: 1:27pm On Feb 09 |
Ate247: OAU, UNN, Unilag, Unijos etc. Make your choice and be ready to pay that Nigerian money you want to carry abroad. 1 Like |
Re: Can't Send Dollars To Nigeria Any More by inosuke(m): 1:27pm On Feb 09 |
Throwback:It easy to devalue your currency, china does that to make export from china cheap 1 Like |
Re: Can't Send Dollars To Nigeria Any More by inosuke(m): 1:30pm On Feb 09 |
AshipaEk0:If you had dollar would you take naira, that the CBN and the government keep destroying, no I wouldn't make people remove their hand for my money, na my choice 1 Like |
Re: Can't Send Dollars To Nigeria Any More by inosuke(m): 1:31pm On Feb 09 |
abbey621:Thank god you know sef, this would not stop anything, it would only enlarge the size of the black market 2 Likes |
Re: Can't Send Dollars To Nigeria Any More by Throwback: 1:32pm On Feb 09 |
CatchMeIfUCanMO: Healthcare is a right and should not be limited. Tertiary education is not a right. 1 Like 1 Share |
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