₦airaland Forum

Floating FX no be accounting bros
Accounting nah Debit and Credit

I think we should ask the ECONOMISTS

dagr8:
No be accounting you read? You should have idea.

Honestly, I need an expert to analyse and dissect the whole turanchi.
Does that mean all bank/bdc rates will be same?
Is that a bye bye to parallel market and abo.ki price?
How will it affect Neteller, Skrill and Paypal?

agarawu23:
thank God you got my point.

Some are jubilating already cos they don't seems to understand the grammars and reality in that news.

CBN can't source for all our demands therefore black market is still our hope and they can sell it anyhow they want cos they aren't sourced from CBN.

Imagine how many billionaires that import and rely on the 26$b talkless of we the average and poor citizens. Our hands can't reach it.

Let's watch and see my brother.

You have failed to include the no of fake companies set up by banks and their cronies
to syphoned the dollars through the back door to an aboki who will sell at black market rate
and share the extra N100 profit with them.

agarawu23:
thank God you got my point.

Some are jubilating already cos they don't seems to understand the grammars and reality in that news.

CBN can't source for all our demands therefore black market is still our hope and they can sell it anyhow they want cos they aren't sourced from CBN.

Imagine how many billionaires that import and rely on the 26$b talkless of we the average and poor citizens. Our hands can't reach it.

Let's watch and see my brother.

Wetin you dey use dollars do oga, all the ones you get never do u?

Infinitikoncept:

Many didn't do the conversion to understand that by the time CBN finish with repatriation of companies whose money have been stuck in our country and they honor all the LC , Form M that is on their table. That 26B USD they are bragging on will be too small for one Alhaji in Abuja running an organized BDC cox I was expecting them to bring in policies that will ensure even distribution not bragging with peanuts.
If they had come with 100B USD at least to the fight would have applauded them if they put in right policies to avoid only a few people from accessing it and storing up to create artificial scarcity.
Dangote refinery project go clear all d ridiculous amount they are yapping about

spot on. Airlines and other big local and foreign companies will stay in the same queue with you? Sorry!!! This news isn't up to 48hrs and u will be surprised that calls from the top has been made and list has been compiled for different ppl cbn will attend to when the new rate will be annonced.

No be Nigeria?

onatisi:
Thank you very much.people still dont know the implication of what this policy means, only a fool will believe that cbn will throw its 26billion dollars reserves into the market, they have virtually left Nigerians at the mercy of the black market and all the bullshit theory of market and supply is all trash,the cbn will still not sell to banks ,so the question I keep asking is where will the supply come The importer that needs 250k dollars next week unfailingly must buy at any cost. This policy can only work in a system where there is a growing manufacturing sector but not in Nigeria case where majority of companies have already closed down. This government should have taken this step since last year when the economy was still good

Leave the confused CBN gov and his dumb crew.

JAZES:
You have failed to include the no of fake companies set up by banks and their cronies
to syphoned the dollars through the back door to an aboki who will sell at black market rate
and share the extra N100 profit with them.

That's the dirty game they play back door. They will use their customers who have access to form M to get millions of dollars and later sell them to bdc's and the cbn will be there talking about demand and supply

loomer:
Wetin you dey use dollars do oga, all the ones you get never do u?

this season wey dollar dey do anyhow, na to sleep on top am o till further notice

Infinitikoncept:
@kashif its a good idea but escrow can guarantee naira transfer for gift card, Payoneer & a few other deals but in a situation where it involves an hacked account use to provide a digital or forex currency to you. You've validated, the escrow officer has validated and 24 hours has elapsed. Money has been transferred to seller's naira account only for your account to be frozen cox of illegal funds you received. Who will you hold responsible?

A cap of say 500k should help mitigate risk.

agarawu23:
this season wey dollar dey do anyhow, na to sleep on top am o till further notice

Hahaha, bado.

Na una make dollar scarce so. Share the dollars like PDP please.

Ohh no it can only be sent to a US account but you can whatsapp me on +18322309560 and I only have $100k now and will go for lower rate than what you are willing to pay

Eghosa1:
I wish I could cash. I need $120k at 360.

Comeandcollect:
The FX in Nigeria has been artificially manipulated since the days of Awolowo and co, flexible exchange allows economic activities determine exchange rates, parallel market rate will no longer be influenced by CBN 199 to usd rate, parallel markets are now on their own to make individual profits rather than ganging up to peg and influence rates against the government.
This is a good development practical in developed nations.
Those expecting rates on monday, the rates you will see are market determined rates and will be fluctuational at short intervals.
The good new is buyers now have a greater bargaining power according to my friend Michael Porter as opposed to the opposite for the last century.
You will be surprised you see dollar at N285 now within minutes it drops to N270.
Trade wise.

You're right on the premise, but your conclusion is flawed.
This dollar is not planted nor cultivated. If market forces decide the Dollar, do you realize it another country's currency? If we are not trading, I mean exporting and getting returns/payments in dollar we are doomed. And if those trading are few, whether government/individual and decide to still hold back currency where do you get it? Do you think government just talks to other government to print their currency for them? No. Our government has said it, we need to rely less on import. Though they not following through, they know the solution.

Like you said "...practical in developed nations."
What are we?

Udiboy:
Yes sir

I emailed you, kindly revert

Please is Tumababa genuine for Neteller funding business?

desoul2004:
Please is Tumababa genuine for Neteller funding business?

Yes he is. 100%.....

desoul2004:
Please is Tumababa genuine for Neteller funding business?

Are you?

agarawu23:
Some are interpreting the grammar blown on the fx policy today when we don't know the impact it will make on we the "ordinary" Nigerians.

You think the dollars will be available for me and u ? 270, 285 my foot.

Parallel market must function no matter the outcome on Monday cos we Nigerians depend on importation and I doubt the available $26b will be for we the "ordinary" citizens.

You will be surprise just 200 importers from alaba international market or auto parts can buy the available foreign reserve the cbn gov is bragging about within few days. So we have no choice than to run to the parallel market to source for $ if our banks can't meet our demands.

The CBN gov is a confused olodo. No law on fx hashas favoured us. He should be floged and raped.

Let's watch the film.

Bros a few days? As it was announced people don begin lining up already and the 'connection wheels' are already rolling, favors are already being exchanged, promised and granted to make sure a part of it is claimed. So it's more like a few hours sef...

But bros you harsh o! The flogging, I concur but the rape? Hmmm...haba bros he might even look forward to the rape sef, come to think of it, unless you want to gather all the gays to do the raping and dat 1sef go hard o

Carshopper:
Yes he is. 100%.....

Thanks a lot.
He sent it immediately.

desoul2004:
Please is Tumababa genuine for Neteller funding business?

Carshopper:
Yes he is. 100%.....

desoul2004:
Thanks a lot.
He sent it immediately.

were you the one that bought this morning? thanks for the patronage.

Carshopper thanks for the recommendation.

tumababa:
were you the one that bought this morning? thanks for the patronage.

Carshopper thanks for the recommendation.

Tumababa u welcome... abeg Roger ur boy sumtin na

tumababa:
were you the one that bought this morning? thanks for the patronage.

Carshopper thanks for the recommendation.

please can ur neteller transfer be use to buy on ebay. If so what is ur exchange rateo

screamTC:
Ohh no it can only be sent to a US account but you can whatsapp me on +18322309560 and I only have $100k now and will go for lower rate than what you are willing to pay

How much are you selling, i can buy all.

desoul2004:
Thanks a lot. He sent it immediately.

Lol me that mentioned him for u to buy from u no thank me.......ok nau (just kidding)

fixedhollies:
please can ur neteller transfer be use to buy on ebay. If so what is ur exchange rateo

₦ 350 per dollar. It can be used if u link d virtual card to paypal. U can spend up to 7k within a period of 4 days

Bugatie:
I emailed you, kindly revert

I replied you sir few minutes after ur email

EAbaba:
Lol me that mentioned him for u to buy from u no thank me.......ok nau
(just kidding)

sorry boss. I just checked the history well. I really appreciate the kind gesture

Carshopper:
Tumababa u welcome... abeg Roger ur boy sumtin na

U be boss na. I want to be like u oo

tumababa:
sorry boss. I just checked the history well. I really appreciate the kind gesture

Lol.... both of us u BABA na em make i recommend you oooo
hahahaha

[quote author=tumababa post=46631468][/quote]Abeg stop play ooo

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