magoo10:
who are the people bringing the monies to the bdcs? politicians , criminals,public office holders who have embezzled funds for development.
the government cannot claim they don't know them ,infact they are in bed with the crimes.go after them if you are serious

And you think the government don't know What do you want the government to do Arrest them?? When they are in the same political party Who takes the moral high ground They should tighten money supply from the central bank.... But if they do won't the same Senate committee on banking shut it down?...... Nigeria is in a mess, technically we need a whole new sector making money to literally isolate the center.... A system within a system

MikoB:


You can answer that by yourself after going through my previous pages.

Then you should know that every country has an open exchange system and no one regulates such things. People change money across borders and it's one of the easiest things you can do in any country. Even easier than buying a sim

chisomkachy:


Peter Obi

The funny part is, most of obi's fellow travelers were also against the proliferation of bdc and were always complaining during buharis regime.

But now since their mumu god says some rubbish in support of bdc to spite Tinubu, they quickly jump onto the bandwagon to support his trash.

We will be surprised if obi Onwubuasi himself does not have many bdc to his credit.

Obi thinks he is the only one that is well travelled

The idiots go soon ask you weda na Statistics we go chop!...I don't even like the fact that you're advising the Govt. Just free dem, Nigerians need their brains reset! So that next time dem go do the right thing!

Where is benuejosh? Is he dead or has his legs broken as a result of standing on a stolen mandate

Tradepunter2:


And you think the government don't know What do you want the government to do Arrest them?? When they are in the same political party Who takes the moral high ground They should tighten money supply from the central bank.... But if they do won't the same Senate committee on banking shut it down?...... Nigeria is in a mess, technically we need a whole new sector making money to literally isolate the center.... A system within a system

arrest and prosecute them is not an impossible task .as you can see it is bleeding the country and causing untold hardship

Af0nja:


Then you should know that every country has an open exchange system and no one regulates such things. People change money across borders and it's one of the easiest things you can do in any country. Even easier than buying a sim

This one just finished consuming obi poo. So bdc lining up the streets of Abuja and Lagos transacting billions of dollars for obi and politicians without kyc is referred to by you as: "change money across borders"

adamusuleiman2:


And Peter Obi is one of the biggest importers in Nigeria.

Leave d clown to dey fool himself

MikoB:
There is no place in any developed country, that you will find trading of foreign currencies carelessly on the streets like in nigeria, both registered and unregistered, illiterates etc, that do not not even know the basic knowledge of economy are allowed to free-trade the currencies in nigeria. I am in support of clamping down on the street trade and I am suggesting apart from the airports, every other currency trade should be down in the banking hall, every bank should create a space for a registered bdc transaction for a better monitoring.

Where are the BDC getting all the dollars from in the first place

All the rich billionaires in Nigeria what’s are they. Producing to export

Males wears at low prices

Meliziz:
Peter said " workings of modern economy" lol. A drug pusher thinks he is in chicago. He doesn't know the meaning of IT. AI , Fossil etc. They are teaching you a lesson Peter 🤗😜

Someone who read philosophy who failed economics want to teach a first class graduate economics.....let him be playing.

What business does he know ? Simple but and sell like he does in his next supermarket.

jumper524:
The raid was not on bdc but on those Mallam engaged in an already outlawed activities.
BDC operators were only slammed with regulatory policy so as to tighten the loop holes they exploited.
The naira has been on steady gain ever since and today it's 1600.
I'm sure Peter obi was the same person who clearly stated you don't remove a teeth just like that because it aches you.

Corruption, underproduction are part of our problem, we aren't pleased with that but then we don't allow a new problem of negative speculation develope into a critical one because we are fighting a much bigger problem.
Problem in it's self is well managed at an initial stage.

if banks are mandated and enforced to sell forex at CBN approved rate, nobody will go to BDC operators and BDC operators will regulate their price.

Nigeria problem is first corruption
all this BDC operators got their forex from same CBN and Banks
imagine only Lagos with over 2500 BDC operators from 2900 operators in the entire SW and you think Tinubu/Lagos state govt doesnt have hands in it
dey play
who is deceiving who?

jumper524:
The raid was not on bdc but on those Mallam engaged in an already outlawed activities.
BDC operators were only slammed with regulatory policy so as to tighten the loop holes they exploited.
The naira has been on steady gain ever since and today it's 1600.
I'm sure Peter obi was the same person who clearly stated you don't remove a teeth just like that because it aches you.

Corruption, underproduction are part of our problem, we aren't pleased with that but then we don't allow a new problem of negative speculation develope into a critical one because we are fighting a much bigger problem.
Problem in it's self is well managed at an initial stage.

which already outlawed activities are those Mallams engaging in?

what has what Obi said about teeth got to do with what the government is doing by raiding BDCs?

which problem was "well managed at an initial stage"?

Obi if you know so much, why not go to the presidential building, see tinubu one on one and make suggestions. Give strategies that can make Nigeria work. Two heads are better than one

Okoroawusa:
Abeg Gerrout!

You reason like them that's why you support them,

Block head birds of same feather reason alike.

Your only response was Garrout nothing more to contribute just like your block head masters in government using guns to harass people.

The way you run into power, that's how you people will run out.

Block heads.

MikoB:
There is no place in any developed country, that you will find trading of foreign currencies carelessly on the streets like in nigeria, both registered and unregistered, illiterates etc, that do not not even know the basic knowledge of economy are allowed to free-trade the currencies in nigeria. I am in support of clamping down on the street trade and I am suggesting apart from the airports, every other currency trade should be down in the banking hall, every bank should create a space for a registered bdc transaction for a better monitoring.

It even makes it better now that the rates of BDC will be publicly displayed just the way banks display their rates in the banking hall.Unlike when Adamu will give different prices to Kunle and Chioma.
The real BDC owners are not the one we see on the streets.The ones on the street are like the middlemen and street trade of currency gives room for round tripping.Nobody checks their activities.
Now that CBN is stepping in, currency trade on the street will be an offence.

Another update from Peter... But why is the FG not focusing on production? cos it will open up a lot of opportunities for Nigerians.

Okoroawusa:
Abeg Gerrout!

E pain ahm


Lol
Hihihi

Abeg I don collect ur 30k this month?

Agbadorian

The raid worked and the exchange rates are coming down, that's all that matters to me

magoo10:
arrest and prosecute them is not an impossible task .as you can see it is bleeding the country and causing untold hardship

It's bleeding us seriously.... It's why that moral high ground is essential..... We need someone along with allies within law makers to pass bills...... Look at Yankee the lawmakers don't like themselves but they will never take actions that will destroy the country..... Nigeria don't have such people with character

dettolgel:


Go to Amsterdam, Brussels, Antwerp, Rotterdam you will find their equivalent of Mallams.

We have the habit of destroying people's business as a way of punishment.

Government could have simply given them 2 weeks to register and that their representative should bring the list of registered Mallams in their district.

During a raid if an unregistered Mallams are seen government will fine the Mallams in charge of that area 5 million naira for each unregistered Mallam operating there and the fine should be paid within 5 business day or they will be prosecuted and their licence withdraw.

That way the Mallams will also be part of the enforcers no business destroyed no body is being harassed, government is making cool cash and mallams are feeding their children.

APC can use the idea I won't complain as long as it moves the country forward.

This your suggestion will make it difficult for the CBN to monitor their activities.They don't want street trading of currencies again.CBN want records of their transactions.CBN wants rates to be displayed publicly in their offices .Will those on the street be able to do this?

dettolgel:


Go to Amsterdam, Brussels, Antwerp, Rotterdam you will find their equivalent of Mallams.

We have the habit of destroying people's business as a way of punishment.

Government could have simply given them 2 weeks to register and that their representative should bring the list of registered Mallams in their district.

During a raid if an unregistered Mallams are seen government will fine the Mallams in charge of that area 5 million naira for each unregistered Mallam operating there and the fine should be paid within 5 business day or they will be prosecuted and their licence withdraw.

That way the Mallams will also be part of the enforcers no business destroyed no body is being harassed, government is making cool cash and mallams are feeding their children.

APC can use the idea I won't complain as long as it moves the country forward.

This is actually laughable

You'd fine mallams in charge of an area N5m for the breaches of other business persons.

Issorait

Tradepunter2:


It's bleeding us seriously.... It's why that moral high ground is essential..... We need someone along with allies within law makers to pass bills...... Look at Yankee the lawmakers don't like themselves but they will never take actions that will destroy the country..... Nigeria don't have such people with character

you are also making sense,who will take the bull by the horn

Af0nja:


Then you should know that every country has an open exchange system and no one regulates such things. People change money across borders and it's one of the easiest things you can do in any country. Even easier than buying a sim

No one regulates? I can see you know nothing, I am living in a city of over 400thousand inhabitants, believe me the day I wanted to change euro to dollars, it took me over one week in the bank, so many questions and forms to fill, eventually they were the one that decided the limit of how much I can change.

chisomkachy:


Peter Obi

Why not just suspend their licences for now and reorganize and reengineer the system.

CilicMarin:
Peter Obi know nothing other beer factory.

The naira has been on steady appreciation, since all the reforms and crackdown are going on.

Check the rate this morning.

The clamping down on binance is not what PO spoke of though the clampdown on crypto exchange was effective.

The ultimate aim shouldn't be to bring dollar to exchange for N160 but to be able to arrive at a stable currency rate and that can only be achieved when we produce more locally and even export. That way we are able to shore up FX reserves and even further devalue it to make our export produce more competitive

dettolgel:


If your problem is selling things on the road side then most businesses in Nigeria should be closed.

Come to Amsterdam or go to Antwerp you will exchange money off the street. Granted not like they line up in Nigeria case but they are there operating.

You never leave your house how you wan take know how the world works.

Do you think those in Amsterdam or Antwerp are not regulated?
CBN is saying no street trading of currency.The guys on the street are not BDC if you don't know.They are illegal operators.

Easy said than done. Give this man just one day, he will destroy everything

I never saw the clamp down on BDC as a logical step cos this will cause more scarcity of FX and in turn a further increase in exchange rate.

chisomkachy:


Peter Obi

Every activities of obi has been to undermine the government and cast the policies of government in bad light.

This is treasonable felony.

When a so-called states man deliberately roll out statements to demean the government at every opportunity, partly to score cheap political points, and partly to stay relevant for the next elections and partly to nudge on his gullible followers who are aroused and kept afloat by negative news about the country, it leaves not much to be desired.

How on earth will a sane person deliberately churn out statements condemning the actions of government aimed at stopping the activities of unscrupulous bdc elements who litter the streets of major cities, transacting billions of dollars, and without kyc, in the face of the current acts of sabotage against the naira and the economy?

Haba. This is pure and applied mischief, and will do him no good.

He should remember that majority of the people supporting his trash now were once calling for his head when he was governor. He should remember that the hunter that kills an elephant 🐘 with his cap only enjoys the accolades for a day!

How else do you describe a man who receives advice from a mad man

But it is yielding results....rates are dropping now below 1600...it should be sustained. Let the appetite for dollars reduce. People should wait for dollars through the bank

"Move from consumption nation to production nation". Na today we become nation? E easy for spectator to dey yan rubbish.