₦airaland Forum

HateBigots:
Dey play... Even banks can't sell at that rate.



Shameless Zombie. What was dollar rate in 2014 before APC protested against Pres. Goodluck? Now you are celebrating N1,314.

Don't mind the clowns. Always justifying and supporting rubbish.

Wannabenz:
I bought at 1700 this afternoon.

If they really want to tackle this issue,they should let banks to sell dollar too those BDC guys are thieves.

Bdc will always sell to abokis

Dialpad:
Not possible, these BDC cannot meet the demand of Nigeria based on the $20k weekly by CBN.

So if I want to travel and I need $15000, where will I get the cash ?

Will aboki sell the entire amount at government approved rate or how will it work.

The people I pity most are those that hurriedly purchased between 1400 and 1800 with the hope that it will hit 2500.

They didn't consider that the government will fight back.

what government is trying to do is fix the market rate. Meaning the naira isn't floating.

What determines these rates government is enforcing we don't know.

AntiChristian:
Painful news for those who want Nigeria backwards so as to scorn others!




From N1900 last week to N1314!

You no go here anything but if it was vice versa....casala go don burst!

PO and hin boys go don sing anthem on twitter!

How much was a dollar to naira when Tinubu entered office?? Stop playing

AntiChristian:
Painful news for those who want Nigeria backwards so as to scorn others!




From N1900 last week to N1314!

You no go here anything but if it was vice versa....casala go don burst!

PO and hin boys go don sing anthem on twitter!

Which kine mediocrity be this, oluhunoba ooh!

Price is at 1300 and you are celebrating what exactly?

In every system you are free to commit crime but don't come and be claiming victimization when the hands of the law grabs you. That's how it works, always know what you signed up for.

blackgold2018:
thousands of illegal BDC are scattered all over the country. So hows that possible to monitor all of it

uvie66:
....but they can also create an artificial demand by hoarding.... the name of the game is profit maximization. The BDC operators are not a welfare organization.

exactly, you understand the game very well

1,300 per Dollar is still on the high side. They should continue working on it till it reaches 200 naira per US$

Dialpad:
Not possible, these BDC cannot meet the demand of Nigeria based on the $20k weekly by CBN.

So if I want to travel and I need $15000, where will I get the cash ?

Will aboki sell the entire amount at government approved rate or how will it work.

The people I pity most are those that hurriedly purchased between 1400 and 1800 with the hope that it will hit 2500.

They didn't consider that the government will fight back.

It has always been 20k dols weekly / licence

AntiChristian:
Painful news for those who want Nigeria backwards so as to scorn others!




From N1900 last week to N1314!

You no go here anything but if it was vice versa....casala go don burst!

PO and hin boys go don sing anthem on twitter!

Why we no go sing anthem wen tings re going bad? pple with same orientation as u are the problem we have at the moment.

Can’t we be using our naira card to pay for dollar transactions as we used to do before ?

AntiChristian:
Painful news for those who want Nigeria backwards so as to scorn others!




From N1900 last week to N1314!

You no go here anything but if it was vice versa....casala go don burst!

PO and hin boys go don sing anthem on twitter!

Partizan minion. You inherited it @ N650/1$. So it went 1950 =200% in 8 months.. Even if it’s selling at @1450, that’s about 130% increase for trial and error

meum:
I thought market forces were to decide the exchange rate?

That is the market force. The CBN is right. The market force is based demand and supply

CBN knows the amount dollars in circulation and the amount needed by travelers and importers and that is what CBN uses to determine the real value of naira

JuanDeDios:
What now happens to people who need dollars but their needs can't be met by BDCs (whose operating capital is now 20k since they can only trade at the CBN-mandated rate)?

Then go to the bank. You will fill forms tire.
Legit needs for dollar only or else, use Naira for your needs

Dialpad:
Not possible, these BDC cannot meet the demand of Nigeria based on the $20k weekly by CBN.

So if I want to travel and I need $15000, where will I get the cash ?

Will aboki sell the entire amount at government approved rate or how will it work.

The people I pity most are those that hurriedly purchased between 1400 and 1800 with the hope that it will hit 2500.

They didn't consider that the government will fight back.

You're not sure how it will work but you want to pity those who hurriedly bought at 1400-1800? 🤣🤣

Only in Nigeria where people create businesses to be making money off their national currency

Dialpad:
Not possible, these BDC cannot meet the demand of Nigeria based on the $20k weekly by CBN.

So if I want to travel and I need $15000, where will I get the cash ?

Will aboki sell the entire amount at government approved rate or how will it work.

The people I pity most are those that hurriedly purchased between 1400 and 1800 with the hope that it will hit 2500.

They didn't consider that the government will fight back.

15k for what? Una get sense at all? Why would you take 15k out to another country? In US self , any money above 10k , you go explain tire.

FatherLord:
Can’t we be using our naira card to pay for dollar transactions as we used to do before ?

If you earn in dollars, do you go to the bank to change or u use aboki? So go where u dey change go buy forex

Zxcvbnmghtr:
Are you complaining?

I should complain about a policy the government said they’ll initially do and are backtracking from?

Why caused such disaster with naira floating then

They are adhering to it here at MMIA.. a dollar is N1, 314 presently.

femicyrus:
Then go to the bank. You will fill forms tire.
Legit needs for dollar only or else, use Naira for your needs

What makes you think the banks have? Or they suddenly started printing dollars overnight and no one told me? Anyway, your answer is why black markets exist - but I doubt you see that.

Originality007:
This country tire me.

which county for Middle east is the best for hustling

We have Oman, Jordan and Qatar evisa packages available.

See details on my travel topics

uvie66:
Even though if i have $20k as a BDC operator i will sell at a rate that is determined by market forces.

You dey mind them.

emerged01:
As a matter of BDCs are not to be in existence when banks are selling forex at the same rate. The reasons they are existing is because of corruption in the banking system. Nobody cares if they pack up.

You're correct - on paper. The fact is, banks will not have enough dollars in the near future, hence BDCs. But if there's full floating and they're both selling at the same or similar rates, the existence of BDCs won't matter and we won't have to adopt Taliban economics by sending armed police to go harass them in their shops.

JuanDeDios:
What makes you think the banks have? Or they suddenly started printing dollars overnight and no one told me? Anyway, your answer is why black markets exist - but I doubt you see that.

BDC has dollars, banks don't have?
Who is more likely to get more dollars from CBN out of the two?

Anyway, you can approach CBN directly since your need for dollars exceed that of banks and BDC

AntiChristian:
Painful news for those who want Nigeria backwards so as to scorn others!




From N1900 last week to N1314!

You no go here anything but if it was vice versa....casala go don burst!

PO and hin boys go don sing anthem on twitter!

this government took it from around 750 naira, maybe they sould get it to even 800 at all at all before we hail them

When you get to the country you are going sort for dollar there please.


.....................


Not possible, these BDC cannot meet the demand of Nigeria based on the $20k weekly by CBN.

So if I want to travel and I need $15000, where will I get the cash ?

Will aboki sell the entire amount at government approved rate or how will it work.

The people I pity most are those that hurriedly purchased between 1400 and 1800 with the hope that it will hit 2500.

They didn't consider that the government will fight back.[/quote]

Dialpad:
Not possible, these BDC cannot meet the demand of Nigeria based on the $20k weekly by CBN.

So if I want to travel and I need $15000, where will I get the cash ?

Will aboki sell the entire amount at government approved rate or how will it work.

The people I pity most are those that hurriedly purchased between 1400 and 1800 with the hope that it will hit 2500.

They didn't consider that the government will fight back.

Travel with $15,000 cash?What happens to your card?Check CBN revised guide lines.They are all confused.As if I knew thus madness was coming to a head,transferred my money to card from my dom account and bought dollars when I suspected the price will skyrocket. Imagine buying $500 for N1m.

Dialpad:
Not possible, these BDC cannot meet the demand of Nigeria based on the $20k weekly by CBN.
So if I want to travel and I need $15000, where will I get the cash ?
Will aboki sell the entire amount at government approved rate or how will it work.
The people I pity most are those that hurriedly purchased between 1400 and 1800 with the hope that it will hit 2500.
They didn't consider that the government will fight back.

Sadly those who bought at that price will still make their huge profit
20k to BDCs is not sufficient, demand outweighs that supply, The shortage of supply will create a black market. Government will criminalize it and that will only make the black market blacker(if you know what I mean). Which means for u to purchase from the black market, u must be ready to pay with ur blood

Obviouslyblunt:
I should complain about a policy the government said they’ll initially do and are backtracking from?

Thank God you are not complaining.

femicyrus:
BDC has dollars, banks don't have?
Who is more likely to get more dollars from CBN out of the two?

Anyway, you can approach CBN directly since your need for dollars exceed that of banks and BDC

@bolded. Yes. No today? If you don't know why BDCs always have dollars when the banks don't, I don't think you know a lot about this subject matter.

The CBN is not a commercial bank, so you can't approach them - unless you're some powerful politician, and even then, they won't give you directly.