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Nairaland Forum / Nairaland / General / Business / CBN To Raise BDC’s Share Capital To ₦2 Billion (14077 Views)
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Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Biodun556(m): 9:30am On Feb 24 |
Immatex: The abokis selling dollars like pure water 💧 are criminals. They should be locked up. We are the ones destroying the economy we are the shouting pains at the same time 1 Like |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by jamafa: 9:30am On Feb 24 |
Immatex: If they do, you go complain. If dey no do, you go complain. Very funny people 4 Likes |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Nokio2: 9:31am On Feb 24 |
Cardoso caryin out economics practical in the town hall... Ebin pawa All this rice and spaghetti truck wen una go pass area na.. |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by aribisala0(m): 9:31am On Feb 24 |
A good step in the right direction They should take steps to ensure that all trades above a threshold are recorded with ID of seller. BDC should be made to keep records 1 Like 1 Share |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by LucemFerre: 9:31am On Feb 24 |
Good or bad move, time will tell But, why Nigerians dey criticize everything wey government do? I no understand 3 Likes |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Kaa4(m): 9:32am On Feb 24 |
Simply have authenticated records for anyone buying dollars, so we kow from what income and for what purposes. The people buying and dealing in dollars are not spirits. 1 Like |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by defcon4: 9:32am On Feb 24 |
We are getting there. Thank God 1 Like |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by aribisala0(m): 9:32am On Feb 24 |
Biodun556:not necessarily No law no crime |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Runaway: 9:33am On Feb 24 |
I nor understand anything..... |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Biodun556(m): 9:34am On Feb 24 |
aribisala0: Now there is law They should go to the farm and stop manipulating $/N to make a living 3 Likes |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Heffalump(m): 9:34am On Feb 24 |
No solution in sight yet as far as the dollar supply gap is still an issue. The painful thing is that even Nigerians no longer believe in their country again. The spirit of patriotism is totally dead in many of us. Those Diaporeans that remit dollars to Nigeria for capital projects have ceased to continue. People sell their properties in naira and exchange for dollar just to Japa. To add insult, the multinational companies that we expect to invest dollars in the country are closing shops and leaving. Until we correct our political system, nobody should expect magic. Gone are the days that a politician can wield so much power and go free. The economic repercussion must humble you. The world is more complex and dynamic as of today. There's no solution in sight for Nigeria yet! 1 Like 3 Shares |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by pharmagba: 9:34am On Feb 24 |
nlfpmod:It is also important to ensure that anyone that is changing money must have an ID card, all activities must be documented No off record/ street changing of foreign currency without documentation |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by aribisala0(m): 9:35am On Feb 24 |
Biodun556: Why should they go to the farm Have they said they won't comply? Don't be a hater There is no evidence they are manipulating anything Look at the politicians stealing Naira as well as CBN staff They provide a useful service that needs regulation That is not their responsibility |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by YaksonFCA(m): 9:36am On Feb 24 |
NAIRA MAY GO ABOVE N2500 per dollar if this plan goes through. If the CBN stifles the operations of BDCs when the deposit money banks can’t meet the demand, the resulting scarcity will lead to further depreciation of the naira |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by biseducator(m): 9:39am On Feb 24 |
We trust banks with naira and transact with BDC with dollars, come to think of it. This CBN gov. Needs help. Cos his policy are smh. 1 Like 1 Share |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by waveman2: 9:39am On Feb 24 |
This one will affect our arewa brothers oh.Tinubu policies hitting people back to back.First president that doesn't really give a damn if his policies are hurting people he needs their vote.This is the right call we will surely get there. 4 Likes |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Vision101(m): 9:40am On Feb 24 |
Immatex: The proposed CBN rule is the way to go. At the inception of this BDC idea they were barred from many things: no fx transfer, maximum fx transaction, quality of staff, no offshore account, no inflow into their dom accounts, lodgements can only be cash and tcs etc. Today they have unofficially taken over the functions of banks in fx transactions. 3 Likes |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by aribisala0(m): 9:41am On Feb 24 |
YaksonFCA:Naira can go to 10000 that is a non issue the Naira will eventually find its real level Of course that will be painful for those at the bottom but it will happen What matters is stability not whether it is 2500 or 25000 Stability will come and Nigerians will move forward. We saw worse under the military for those old enough to remember SAP under Babangida |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Yankee101: 9:41am On Feb 24 |
Won’t solve anything How many malams are authorized in the first place? Just make NNPC operations open let the fx earned be brought into our accounts not stolen |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by BreconHills(m): 9:42am On Feb 24 |
tonicyril: In the long and distant past you could only access BDC's at the airport and shopping malls. So this is probably an attempt to consolidate them. You comment regarding their source of USD is on the money. Most of them are money laundering operations for politicians. Once reserves get to say $40b in unencumbered fx reserve, banks should reactivate naira Mastercard for fx purposes - POS only ( no ATM) with a monthly limit. 2 Likes |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by coputa(m): 9:44am On Feb 24 |
ThierryJay:The state governments will still change their allocations to dollars and send to the black market through their proxies |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by olax02(m): 9:45am On Feb 24 |
tonicyril:Exactly that's what is happening. Bank CEOs are the criminals in this game. 1 Like |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by RhinoChest: 9:49am On Feb 24 |
tonicyril: Having BDC in a capitalistic economy like ours isn’t an issue but it’s wise to regulate them like the CBN is doing. They should function like proper exchange rate companies like we see in the west, and should have offices and standardised outlets. This would mean that no ordinary person without licenses can trade currencies. It’s a welcome initiative. 1 Like |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by MadeMan01(m): 9:49am On Feb 24 |
nlfpmod: Nonsense. Revoke all BDC license. Let commercial banks be the sole beneficiary of BDC licence . So I ly banks can buy or sell BDC. Phase out these street guys 2 Likes |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by MadeMan01(m): 9:49am On Feb 24 |
nlfpmod: Nonsense. Revoke all BDC license. Let commercial banks be the sole beneficiary of BDC licence . So only banks can buy or sell BDC. Phase out these street guys |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by OkoEmm: 9:50am On Feb 24 |
nlfpmod: Politics aside. This is very commendable. Bringing back the BDCs and "strictly regulating" them would help stablise the black market. It happened in 2016 and 2021. In addition, increasing supply of forex to the official market would also help. 2 Likes 1 Share |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Legitnaijablog(m): 9:51am On Feb 24 |
Okay ooo
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Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by ThierryJay: 9:54am On Feb 24 |
coputa: It's just so unfortunate. They should start the reform from within themselves, but politicians dont like to tell themselves the truth. 1 Like |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by EleventhWeirdo: 9:54am On Feb 24 |
EbolaTinubu: Na that ebi go kpai you. 1p0b 0beengoes 2 Likes |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by coputa(m): 9:56am On Feb 24 |
ThierryJay:yes |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by epainos: 9:57am On Feb 24 |
This policy is going to make the oligarchs extremely strong. Jagaban and Cardoso are facing out the smallies in the system. Only their friends will be in it now. Hmmm. It looks like Jagaban is trying to own the whole of Nigeria. Nigerians una never see anything. Una go know say "Yoruba lo kan". The way these guys will snatch Nigeria for themselves. Unfortunately, Ganduje is an educated illiterate who happens to be an unfortunate professor. He is a tool for the SW. The agenda going on in Aso Rock is powerful. Anyway, my assumption is based on ONLY one factor. If most Hausas and Fulanis are faced out of BDC with this law, hmmmm. It means I am right. I think the era of going to markets to meet malams for dollars is over. A new "modulus operandi" is about to start. I may be wrong sha. Again, I pray Tinubu creates so many enemies for himself that they start fighting each other and eliminate themselves. Then, good people can come on board.. 2 Likes 1 Share |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Immatex(m): 10:00am On Feb 24 |
jamafa: I know better than complain. Policies that succeed are implemented in phased and incremental basis not in one full sweep like what is detailed in the new CBN guidelines for BDCs. We are in to much of a hurry to solve decades old rots. Policies are not meant to drive genuine businesses out of business. |
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