₦airaland Forum

datigbogirl:
So which one is $1000/day you're talking about? And how much is d max per month pls.

bigtt76:
Please read through the thread.

omooba969:
No one on this thread has suggested ways to improve even their own situation talkless of the present situation in Nigeria but helpless youths complaining & moaning, blaming PMB for their woes.

PMB/APC seems to be the reason for their laziness while the gullible ones run to religious gatherings for breakthrough as if God is a magician; what's happened to hardwork & what's happened to your brains?


my opinion is for govt to cancel that nonesense calld bureu de change dose pple are like malware virus or malware virus causing us to go one steo forward 4 step backwards......why should a citizen of a country go throughh so much stress juss for him to buy dollar or pounds why shouldnt this transaction be conducted strictly by banks and managed by cbn by that nobody can savage the efforts of the financial institutions cos yu will hear banks peggn exchng rate to 199 aboki malams doing deirs at 290 as if its bot the same dollars






Truly, the Nigerian youth is not ready!

Papertrail11:
my opinion is for govt to cancel that nonesense calld bureu de change dose pple are like malware virus or malware virus causing us to go one steo forward 4 step backwards......why should a citizen of a country go throughh so much stress juss for him to buy dollar or pounds why shouldnt this transaction be conducted strictly by banks and managed by cbn by that nobody can savage the efforts of the financial institutions cos yu will hear banks peggn exchng rate to 199 Northerner malams doing deirs at 290 as if its not the same dollars

omooba969:
The bureau de change biz is good for the local economy just as we have them in developed countries. The problem is that there's no regulatory body controlling their operations, the reason they are referred to as 'black market'.

I would not want to argue that they are the major cause of depreciation of naira, they are only reacting to currency market sentiment.

omooba969:
The bureau de change biz is good for the local economy just as we have them in developed countries. The problem is that there's no regulatory body controlling their operations, the reason they are referred to as 'black market'.

I would not want to argue that they are the major cause of depreciation of naira, they are only reacting to currency market sentiment.

Chukzyfcb:
Uhmm actually you are wrong! The CBN sells dollar to these bureau de change and give them instruction to sell @ 8% spread. Let's do the math: Let's do the maths
3.5% of 196.95 = 6.89
196.95+6.89= 203....which means;
Bureau de change are not supposed to be selling dollar more than 203 ,yet they keep selling to pple at a rate 240naira = $1 and above......I dunno if its in economics Textbooks but I do Know that GREED is one factor behind INFLATION,lol

omooba969:
You have only reiterated my argument in another way i.e there is no regulatory body controlling their operations hence they can even sell dollar @#260 if buyer sentiment favours it.

Every businessman has the greed factor in them as it's up for grab by the highest bidder. It is black market!

In a nutshell, we both arrive @d same point.

Chukzyfcb:
K, good to see we are walking on the same path. If there could be ways CBN can cut the wings of these BDC's it'll be better.. But we find out that commercial banks are just as dubous as the BDCs....you do an Online shopping and the exchange rate of wHat you are charged will be very close to What u'll get in the parallel market, its crazy!

centvin008:
Traders at the market said that in spite of the [/b]biweekly sale of forex to Bureaux de Change (BDC’s)[b], the currency of the biggest economy in Africa continued to slide.

bigtt76:
You need to know the number of people shopping online NOT on Konga and Jumia BUT online stores in the US and UK from Nigeria. Most banks have now limited your foreign transaction limit to $1000/month na that go bolster our currency? Na waaa for you o!

Olasco93:
There is no foreign contry in the world that Insults her leaders the way 'some' Nigerians do. Who are you to judge

Papertrail11:
my opinion is for govt to cancel that nonesense calld bureu de change dose pple are like malware virus or malware virus causing us to go one steo forward 4 step backwards......why should a citizen of a country go throughh so much stress juss for him to buy dollar or pounds why shouldnt this transaction be conducted strictly by banks and managed by cbn by that nobody can savage the efforts of the financial institutions cos yu will hear banks peggn exchng rate to 199 Northerner malams doing deirs at 290 as if its not the same dollars

omooba969:
The bureau de change biz is good for the local economy just as we have them in developed countries.

omooba969:
The bureau de change biz is good for the local economy just as we have them in developed countries.

Chukzyfcb:
Uhmm actually you are wrong! The CBN sells dollar to these bureau de change and give them instruction to sell @ 8% spread. Let's do the math: Let's do the maths
3.5% of 196.95 = 6.89
196.95+6.89= 203....which means;
Bureau de change are not supposed to be selling dollar more than 203 ,yet they keep selling to pple at a rate 240naira = $1 and above......I dunno if its in economics Textbooks but I do Know that GREED is one factor behind INFLATION,lol

Papertrail11:
bros dey are the real reason for the depreciation. ...cos dere neva seems to be any fall in exchng rate nd dey can bring dis argument dat heyyy dere is soo much demand for dollar evn wen dere is not

ifyan:
Where is such thing as bank limiting international transaction to $1000.

Stop propagating false news

ifyan:
Don't blame someone but the the human associated with NIGERIA (NIGERIAN) because we misuse everything when given the opportunity.

CBN are fighting a tough fight up there if you don't know the disease called CORRUPTION which is eating up the system.

Try and understand

abouzaid:
story for the gods, the simple truth is that exchange rate is determined by demand and supply. we export almost only oil and import almost everything including tooth picks. to worsen the matter, buhari left the economy in auto pilot for six months at a time our major export been petroleum is experiencing a fall in price. uptill now, this country does not have a clear cut economic policy and you expect progress? he who fails to plan has already planned to fail. stop blaming imaginary corruption by bdc's, ask yourself, why are importers not buying from banks at #197

OZAOEKPE:
I smell change in the air.....…......... The mad man is in malta flexing, and the economy is in disarray, God please give us military coup.

5starmilitant:
Barely 48 hours? Chaiii
It has been unlimited bad news since that old body odour impotent of a president came on board. It's obvious, that good news is nowhere near this administration.

I know the zombies and the lamenting lamenters will still come and blame GEJ. Useless goats.

If you quote me wrongly by mistake, you will die by correction. Foolsssssssssss

mykl01:
You harsh for the matter o!!
Abeg, you get light?
Ok!!
Fuel nko??
No wonder you dey vex