₦airaland Forum

At what rate?

Their rate will make it useless, go and verify

Zionmdde:
Lol
You know absolutely nothing about why it was suspended at first. Because of bank subsidizing dollars for customers. Including for school fees payment. Now that subsidy is gone. Today You won't tell the difference whether you are buying from bank or black market

We are saying the same thing Mr. Know it all. Who doesn't know that Tinubu's reforms made it possible.

SalamRushdie:
Be like Tinubu is getting something right on the forex supply end ..I still give him F for economy

Simply means you don't understand economics lol. 🤣

ZUBY77:
Who stopped it in the first place? Cos I know it was working during PDP era. Who stopped it 3 Years ago? The daft people will say it's not TINUBU but Buhari and I ask, what's the difference between them?

It was stopped in 2014 under Jonathan and Emefiele when the naira fell to 467 from 350 naira

ElSudani:
We are saying the same thing Mr. Know it all. Who doesn't know that Tinubu's reforms made it possible.

What sort of rubbish reforms. So did it make things better for ordinary Nigerian or worse? So what's the benefit of using naira card today against using dollar card? Before the benefit was obvious, but today there is no benefit

So how does the reforms help an ordinary man again?

Olaide1295:
It was stopped in 2014 under Jonathan and Emefiele when the naira fell to 467 from 350 naira

Oga it was stopped during buhari era
Say what you know

Good news, I've been thinking on how to buy USD to pay for Web hosting. I hope GTB activate same asap

Zionmdde:
Why did they suspend it in the first place? Its simple
The difference between bank rate was very large. Banks were selling 460 per dollar black market was like 550 or so.
But today dollar subsidy is gone, there will little or no difference between bank rate and black market

In summary it's still the same as buying dollar in black market, paying into your dollar account and spending with your dollar card

Funny enough you will see people who know nothing coming to sing apc praises because banks are now selling at black market rate

It's you who knows nothing but still making the loudest noise.
During the last administration, despite the trillions of naira allegedly printed,and the padding of the usd, we kept borrowing to keep the dollar rate to naira low and also subsidizing pms.

But all these are out since May 2023. We have cleared the fx backlog owing to those airlines.

The economy is better.

Give credit to whom it's due and stop the hatred

Alliswell248:
It's you who knows nothing but still making the loudest noise.
During the last administration, despite the trillions of naira allegedly printed,and the padding of the usd, we kept borrowing to keep the dollar rate to naira low and also subsidizing pms.

But all these are out since May 2023. We have cleared the fx backlog owing to those airlines.

The economy is better.

Give credit to whom it's due and stop the hatred

All these akpata you are yarning is none of my business
All am saying is the common man that used to benefit from using naira card to pay for things in dollars will no longer see that benefit today, because bank rate is now same with black market rate

Instead of you telling me what the common Nigerian will benefit you are yarning long epistle the fill your head with

Softmirror:
Simply means you don't understand economics lol. 🤣

You are telling a trained economist that he doesn't understand economics? Hmmmm

Zionmdde:
Why did they suspend it in the first place? Its simple
The difference between bank rate was very large. Banks were selling 460 per dollar black market was like 550 or so.
But today dollar subsidy is gone, there will little or no difference between bank rate and black market

In summary it's still the same as buying dollar in black market, paying into your dollar account and spending with your dollar card

Funny enough you will see people who know nothing coming to sing apc praises because banks are now selling at black market rate

Why so disingenuous? You literally just explained how there is no such thing as black market again, and I know you understand how much this so-called black market was killing our economy. How do you still manage to find something to gripe about??


Incredible.

Zionmdde:
What sort of rubbish reforms. So did it make things better for ordinary Nigerian or worse? So what's the benefit of using naira card today against using dollar card? Before the benefit was obvious, but today there is no benefit

So how does the reforms help an ordinary man again?

The reforms are working and the economy is back on track. This is the assessment or various domestic and international institutions. If this is not good enough for the ordinary man then you have to present your own proposal on how to help the ordinary man. Perhaps free gari and beans?
Perhaps bring back the petrol subsidy and dual exchange rates?

Zionmdde:
Why did they suspend it in the first place? Its simple
The difference between bank rate was very large. Banks were selling 460 per dollar black market was like 550 or so.
But today dollar subsidy is gone, there will little or no difference between bank rate and black market

In summary it's still the same as buying dollar in black market, paying into your dollar account and spending with your dollar card

Funny enough you will see people who know nothing coming to sing apc praises because banks are now selling at black market rate

Alright, let’s agree that you’re right. But would you rather return to the old system or keep the current easy-access dispensation, regardless of the cost?

SalamRushdie:
You are telling a trained economist that he doesn't understand economics? Hmmmm

A trained economicst should be able to see holistically where all this achievements are heading to.

chicfarmer:
This is great news。

Not enough original content
Please take a moment to write a quality post with at least 40 characters.
This will make the forum more interesting for everyone.

👍🙏 Good News To Nigeria Banking Sector and it seems after all the different Reform By the CBN-its now yielding Fruit 🍓🍑,both Nationally and International Foreigners,who are having more confidence in Nigeria Economic Outlooks.
For Example,two weeks ago,the World Bank Commended the CBN on the REFORMS and this Week,the IMF gave her own nod.
Hope Is Rising!

lionshare:
Alright, let’s agree that you’re right. But would you rather return to the old system or keep the current easy-access dispensation, regardless of the cost?

There should be a balance to everything
If people have to.pay inflated prices because of dollar inflation, they should be able to have a tangible benefit they can say it is as a result of paying more

With all these reforms and so forth, my question is still standing, what is that thing a common Nigerian is benefitting today as a result of all these reforms?
Improved power. Social amenities? Security? Ease of doing business? Reduced cost of education?
What exactly??

I m concerned about their exchange rates. Can someone who has used both banks provide an update on this please

ElSudani:
The reforms are working and the economy is back on track. This is the assessment or various domestic and international institutions. If this is not good enough for the ordinary man then you have to present your own proposal on how to help the ordinary man. Perhaps free gari and beans?
Perhaps bring back the petrol subsidy and dual exchange rates?

Oga tell a man in the village farming for a.living what he is benefitting from the reforms?
So Nigerians have not been hussling before tinubu came?
All these economic jargon that is not translating to any benefit to a common man. All the common man knows is that things are now way more difficult and he is being to bear the pains. Why?

Gtbank is starting too.


Not enough original content
Please take a moment to write a quality post with at least 40 characters.

SmartyPants:
Why so disingenuous? You literally just explained how there is no such thing as black market again, and I know you understand how much this so-called black market was killing our economy. How do you still manage to find something to gripe about??


Incredible.

Now it is no longer killing the economy, why does a common Nigerian stand to benefit you??

Mind you black market was not killing your economy, CBN subsidizing millions of dollars for selected people was

Zionmdde:
Oga tell a man in the village farming for a.living what he is benefitting from the reforms?
So Nigerians have not been hussling before tinubu came?
All these economic jargon that is not translating to any benefit to a common man. All the common man knows is that things are now way more difficult and he is being to bear the pains. Why?

I farm too and it is one of the most rewarding things you can do. Access to loans is an issue for ordinary folks still but not entirely the fault of the banks.

Zionmdde:
Now it is no longer killing the economy, why does a common Nigerian stand to benefit you??

Mind you black market was not killing your economy, CBN subsidizing millions of dollars for selected people was

The restoration of basic card services is the subject of this particular thread. A common man like me will enjoy this very much.

OPAY has been doing the needful for us

They disable it when we needed it the most.

ElSudani:
I farm too and it one of the most rewarding things you can do. Access to loans is an issue for ordinary folks still but not entirely the fault of the banks.

Access to loans have always been easy, even easier during GEJ's time. You can get loan at anytime you want, the question is, at what rate today? Mind you interest rate is currently on the rise.

You said you farm, assuming you run poultry or fish farm you won't be here yarning what you are yarning

So tell me something else the common man is benefitting?

Olaide1295:
Well done to Tinubu and Cardoso.
But I fear this may start putting pressure on the naira again soon. Politicians may start buying dollars again now that it’s becoming easy to move currency.

It was stopped in 2014 under Jonathan and Emefiele when the naira fell to 467 from 350

politicians don't need naira debit cards to buy dollars. This is most useful to people who purchase and make payments online.

SmartyPants:
The restoration of basic card services is the subject of this particular thread. A common man like me will enjoy this very much.

Oga nobody will enjoy anything

4years ago I could pay for up to 4 international memberships with 150k using my naira card, today even 600k won't be enough with the same naira card

So what is the enjoyment if I may ask?

Kukutente23:
This is really good news
This is one of the things the calamitous APC robbed us of for 8 years after promising heaven and earth
Now they are back to paint this as if they are performing a miracle
Very incompetent lots them!

One can't quantify the loss and the stress that they put people through with that singular meaningless decision.

Zionmdde:
Access to loans have always been easy, even easier during GEJ's time. You can get loan at anytime you want, the question is, at what rate today? Mind you interest rate is currently on the rise.

You said you farm, assuming you run poultry or fish farm you won't be here yarning what you are yarning

So tell me something else the common man is benefitting?

If access to loans have always been easy what then should the government do if you are not taking advantage of it to produce enough for Nigerians to eat?
The weather is fine, land is fertile and there's easy access to finance according to you. Do you want Asiwaju to cultivate the farms for you too?

LegendHero:
ADC stopped it please. You should blame Obi party for stopping it.

Emefiele and Malami are the culprit. Now both of them are in ADC so we should drag them like tiger generator.

ADC destroyed this country and APC will right the wrong.

Dis one don da campaign already. Continue xxxxxx

Zionmdde:
There should be a balance to everything
If people have to.pay inflated prices because of dollar inflation, they should be able to have a tangible benefit they can say it is as a result of paying more

With all these reforms and so forth, my question is still standing, what is that thing a common Nigerian is benefitting today as a result of all these reforms?
Improved power. Social amenities? Security? Ease of doing business? Reduced cost of education?
What exactly??

Let me try to make this easier to understand. When a government runs a subsidy economy like we used to, it essentially transfers money from the poor to the rich. For example, a wealthy person might need $1 million per year, while an average person like Emeka only needs $100 per year to pay for something like web hosting. However, because of the subsidy system, Emeka often ends up buying through the black market at a higher price.
Who ends up paying more? The rich, because the subsidy benefits them on a much larger scale — $1 million compared to Emeka’s $100.
The opportunity cost here is significant: the government loses revenue, which leads to poor infrastructure, inadequate education, and a lack of social services. Ironically, these are the very things that could help level the playing field for Emeka’s children in the future and improve access without a higher comparative cost in the short term such as seen here.
So, considering all this, which scenario do you prefer — the system before the subsidy or after?

Zionmdde:
Why did they suspend it in the first place? Its simple
The difference between bank rate was very large. Banks were selling 460 per dollar black market was like 550 or so.
But today dollar subsidy is gone, there will little or no difference between bank rate and black market

In summary it's still the same as buying dollar in black market, paying into your dollar account and spending with your dollar card

Funny enough you will see people who know nothing coming to sing apc praises because banks are now selling at black market rate

Any good news is always negative to you guys because your hatred for the present government is unprecedented whereas the decision makes it easier to transact in global online markets

Wait until campaigns start to know the real situation.