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Nairaland Forum / Nairaland / General / Business / CBN Suspends 19 Banks From Forex Sale To BDCs (33224 Views)
Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs / CBN Suspends New Cashless Policy / CBN Suspends 19 Banks From Forex Sale To Bdcs (2) (3) (4)
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by ayindejimmy(m): 7:34am On Oct 13, 2016 |
I don't why these banks can't just play by the rules? Even my bank,there is no time u go there that they'll have forex. And I see mallams entering and coming out of offices 3 Likes |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by Teenaira: 7:42am On Oct 13, 2016 |
hardbody: I rather think first bank is a mega BDC 1 Like |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by Einl(m): 7:48am On Oct 13, 2016 |
justi4jesu:What do you want to see?? How do you want to be convinced? |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by kabman: 8:17am On Oct 13, 2016 |
Cbn should sell directly to everybody.Bleep the banks 2 Likes |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by hahn(m): 8:34am On Oct 13, 2016 |
awelekiti: Thanks for the enlightenment |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by hahn(m): 8:43am On Oct 13, 2016 |
mfm04622: Thanks. Those banks dey mad sha |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by ryanfci: 9:22am On Oct 13, 2016 |
Morning Guys, I have just seen this thread and thought I would give you an opportunity to see what we do at FCI. We are an FX broker in the south-east of the UK, and we have recently partnered up with Standard Charter Bank to sell Naira into USD within 2-3 days. With a rate of N425/USD1, much better than the black market, any businesses that need to send USD would benefit from enquiring. Contact me on ryan.williams@fci-ltd.co.uk for more information. Regards, Ryan |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by Nobody: 10:14am On Oct 13, 2016 |
slawali: Gbam! You said it |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by Nobody: 10:38am On Oct 13, 2016 |
onatisi:Yes but there's a limit to what travelex can sell in forex to bdcs but also remember that we have bdcs in large number. You can always rake up the amount of forex needed by patronising as many bdcs as possible. One thing I know of travelex is reliability. I used to patronise them abroad. I'm an importer. Let's hope their service here in Nigeria won't be anything less. |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by Seun(m): 10:41am On Oct 13, 2016 |
When will this stop? I've never felt so helpless. We thought things could not get worse. We were wrong. I wish we had economists in charge. 5 Likes 4 Shares |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by Nobody: 11:12am On Oct 13, 2016 |
Seun:you can say that again my broda. Let's just hope the new arrangement would work as laid down |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by Nobody: 11:18am On Oct 13, 2016 |
ryanfci:I'm in the UK soon. Please where are you in the UK? Sending you an email might not suffice. I want to visit while in the UK. 1 Like |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by Seun(m): 11:44am On Oct 13, 2016 |
awelekiti:Hope? If a policy doesn't make sense, how can it work? |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by onatisi(m): 1:06pm On Oct 13, 2016 |
awelekiti:All these policies amounts to beating about the bush. The forex rate isn't the problem but the production level of Nigeria. Left to me i would have preferred the rate as it was because gradually it had started discouraging import and it was starting to make export profitable. In the long run the demand for dollars would come down due to the fact that it will be priced out of reach,but trying to shore up the naira value without raising productivity level is counter productive. 2 Likes 1 Share |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by Nobody: 1:07pm On Oct 13, 2016 |
This is the most brazen iteration of the forex round-tripping scam so far in the history of this country. And with official sanction too. Banks are taking dollar from Nigerians in diaspora at official rate, they sell to BDCs (at an undisclosed premium) who turn around and put it on the streets at so-called parallel market rate. What exactly is the premium paid to banks by the BDCs? I think citizens deserve to know. And what do banks do with the dollars wired into their offshore accounts by the money transfer agencies, since it's obvious that any physical cash they sell to BDCs is sourced from the CBN? This opaque system looks like it was set up by the mallamocracy around Buhari, in order to feed their fellow mallams running the BDCs. The North continues to take the rest of us all for a ride. . . 1 Like |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by DisGuy: 1:17pm On Oct 13, 2016 |
ziddy: Didnt know Emefiele was also a Mallam...the way we excuse incompetence is beyond belief |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by Nobody: 2:41pm On Oct 13, 2016 |
DisGuy: Emefiele is a man of straw. Keep your head firmly buried in the sand though. . . It's classic 'mallam' strategy |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by vivaciousvivi(f): 2:45pm On Oct 13, 2016 |
hahn:As an immediate effect, yes it will. |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by DisGuy: 2:49pm On Oct 13, 2016 |
ziddy: We have a full team stabbing about in the dark. but hey let's blame the mallams for it's easier that way. bozo |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by DisGuy: 2:55pm On Oct 13, 2016 |
The government really needs to stop this habit of elevating for bank CEOs to CBN. they'll be dipping in and out of the cookie jar. answering to some unknown saboteurs behind the scenes |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by 40manlappy: 2:58pm On Oct 13, 2016 |
ayindejimmy: Banks do not sell to ''mallams''. I stand to be corrected though... |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by Nobody: 4:10pm On Oct 13, 2016 |
Seun:It's yet to take off Seun. That's why we need to hope it's gonna be beneficial to all. |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by Nobody: 4:13pm On Oct 13, 2016 |
onatisi:There's already a favourable FX platform for manufacturers and big-time importers, called Letter of Credit. It won't make sense for them to patronise travelex if they're importing in high volume. |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by deflover(m): 5:44pm On Oct 13, 2016 |
just2endowed:08066482808 |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by Einl(m): 6:49pm On Oct 15, 2016 |
justi4jesu:1894 |
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by Nobody: 2:36pm On Oct 18, 2016 |
DisGuy: Abuse me as much as you wish, but rest assured that the rest of the country will soon be on to all you crooked mallams. . . .
|
Re: CBN Suspends 19 Banks From Forex Sale To BDCs by DisGuy: 2:58pm On Oct 18, 2016 |
ziddy: look you started abuse. i mentioned the person in charge of monetary policies being largely to blame..I mean a cbn whose policies are driven by black marketers ..whats the point of all the phds and executive training when you are bowing to these so called cattle herders.. |
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