₦airaland Forum

chiefolododo:
I do not think it makes any difference it is also the equivalent in dollar

LegendHero:
You don hold dollars before?

There was never a time the common man buy dollar at #400 easily 2 years ago.

If you get family or if you die student abroad, to even see that dollar to buy for your schoolfees, you go first sort bankers, bribe your way out and in the end if you check it well, you go don pay like #750 on it with delay of several months.

LegendHero:
Source: https://www.thecable.ng/nigerian-students-can-now-pay-uk-us-tuition-fees-with-naira-cards/

rinzaugustine:
From less than 400 it was 2 years ago to now 1,500 naira for $1. Is that progress or going backwards?

classicfrank4u:
Lol what's the point kwanu, Black market rate and bank rate are literally the same thing

rinzaugustine:
You Dey tell your fellow mugu wey never touch dollar, back then all you need to is to show your passport page and visa stamp your bank will give you dollars and even domiciliary accounts were accessing dollars under the tail end of buhari regime when they stopped paying dollar and was giving naira instead

rinzaugustine:
You Dey tell your fellow mugu wey never touch dollar, back then all you need to is to show your passport page and visa stamp your bank will give you dollars and even domiciliary accounts were accessing dollars under the tail end of buhari regime when they stopped paying dollar and was giving naira instead

classicfrank4u:
Lol what's the point kwanu, Black market rate and bank rate are literally the same thing

classicfrank4u:
Lol what's the point kwanu, Black market rate and bank rate are literally the same thing

uuzba:
The time Naira had value, when people need to do this readily, it was made impossible.
It is now that Naira has lost its value that you're making this possible.

Holdup247:
PBAT is working, obi can continue serving food until 2099.9 years...

chiefolododo:
I do not think it makes any difference it is also the equivalent in dollar

chiefolododo:
I do not think it makes any difference it is also the equivalent in dollar

muykem:
Tinubu is solving legacy issues gradually. May God bless federal Republic of Nigeria.

rinzaugustine:
From less than 400 it was 2 years ago to now 1,500 naira for $1. Is that progress or going backwards?

rinzaugustine:
From less than 400 it was 2 years ago to now 1,500 naira for $1. Is that progress or going backwards?

rinzaugustine:
You Dey tell your fellow mugu wey never touch dollar, back then all you need to is to show your passport page and visa stamp your bank will give you dollars and even domiciliary accounts were accessing dollars under the tail end of buhari regime when they stopped paying dollar and was giving naira instead

Swiftbakery:
1. Dollar was not 400 naira 2 years ago, it was around 700

2. The 400 naira you're claiming now was heavily subsidized

DeepSight:
I cant understand the way we come up with policies just to punish ourselves. So they just put so many people through unnecessary anguish for no reason when they stopped the naira cards from foreign payments. This country. It is not for the faint hearted.

horpe132:
..
It's not as simple as that, it's complex but leme attempt to break it down for you...
..
You see, they didn't just shut the Naira/Dollar system down..... They shut it down cos it (the system from CBN) was confusing & uncertain for market operators...
..
Too much speculation, fraud, backdoor deal etc.... so automatically it must be killed or it kills itself at a point

DeepSight:
I am talking about payments by cards oh.

datola:
[quote author=chiefolododo post=136274287]I do not think it makes any difference it is also the equivalent in dollar

Yes because there is no longer discrepancy again between parallel and official rates which some some people have abused in the past

horpe132:
..
Same thing affects/affected payment by card... At least the cards are hosted/funded by an entity.... That entity also needs to come to CBN or their financial partners to reconcile what they've sold (dollars/Naira), and claim their profit...and roll again .... Na there wahala dey

forgiveness:
This is a welcome development. It will reduce pressure on dollar and other foreign currencies.

chiefolododo:
I do not think it makes any difference it is also the equivalent in dollar

ernieboy:
how? Will the money not still be converted to dollars when sent to the foreign university?

inoki247:
Lol Bank Card body fit carry large amount....


I'm used to my alternative...


The rate don balance so wahala for who even dey go through banks dey fill Form M up nd down..

when most Big CeX crypto app have dere own Personal Virtual card that will do same rate with over 10k to 15k usd daily without no extra charges or any form M or A....


The only thing I like with the Policy is the Rate being unified...


So anyone that wants to bring the rate down should make sure the rate is unified cause some people can't be getting the Dollar at cheap rate and be reselling while we the citizens bare the burnt..