GEEBITE:
What about your undies or they are locally made too.

Na Ghana must go nylon I dey wear nao

That wont be healthy seriously speaking.

okomile:



Na Ghana must go nylon I dey wear nao

OsuIgboIpob:
CBN is indeed very stupîd under Buhari.
The present governor must be a retàrd.

How can you continue to shroud something and not expect it's value and scarcity to increase


They stopped all transactions and transfer on Forex accounts since. Even if you have a domiciliary forex account, YOU CAN NOT TRANSFER IT TO ANYWHERE.
The only thing you can do with Forex card account with existing fund is to pay for international transactions or purchase something with it online.
The only way you can fund the account is to buy Forex From bureau de change and go to the bank to deposit it.

What kind of stupîdity is that?

Since the implementation of that nonsense, naira has continued to devalue.

Is it only Nigeria that Corona virus or lockdown is affecting?


USELESS leaders.

baba how can i preserve the little change i have in naira bank accounts?

Since it's depreciating fast.

SenecaTheYonger:
its still 374.12 NGN in online money transfer service, Bleep off with this fake news.

U need to open a dorm account, withdraw your funds and go to aboki

MondayOsunbor:




my prediction is that nigeria will be off the cliff by june


i am doing my best to prepare for it but i did not expect it to be this bad this fast

I agree with you.

GEEBITE:
That wont be healthy seriously speaking.

Heheheheheeeee

hidhrhis:

Can you explain something to me please
Like if one want to exchange naira for Dollar now it will be at the rate of 450

That is if you have dollar to exchange, if you plan to send dollar to a dom account in Nigeria and exchange it for 450, good luck with that. The banks don't have dollar to give anyone, that's what they claim but we know they are holding. The only option you have is a conversion at $388 or so. Been there and I was mad

Mere speculation. Though the policy invoke by the CBN is not sustainable as regards padding of the dollar window.
Don't go and buy expensive dollar to sell at a low value when you desperately need money.

Cre8:
...and google is saying otherwise. Who should we believe?

Two different rates. IFEX official and black market rate. Business transactions use the IFEX rate. Aboki is an unofficial rate for 'under the radar' transactions.

Omo see gobe!

gurunlocker:


Not fake news... TransferWise is 374.12 for weeks now

Payoneer is 382.. These are parallel rates which all these websites use.

The truth behind this is, they use 3rd party BDC company in Nigeria (If you can mention TransferWise, you will know the BDC I'm talking about). They are the one eating the big chunk of it. They will get the USD at 450 and give people 374-382.


But if you use Dom account and collect your dollars and take it to Aboki or dem BDC gangan, na 450 o....

Which bank will give you dollar? You don't know what is happening. Is either you collect $20 notes and go exchange for aboki at 350 or they offer you their conversion rate, they claim they don't have $$$

I withdrew from hot forex on Thursday last week @390.

contumely2:


baba how can i preserve the little change i have in naira bank accounts?

Since it's depreciating fast.

Wolgrace:


As an economist, I understand their stupid games. If we all know why Syria, Lybia, others were forcefully ambushed by criminal Americans and false state of Israel, we'll realised the innocent-looking modern day slavery upon our nation. Nigeria is sold!

oga yoruba Muslim wetin concern America for this matter na . this calamity that is about to be fall Nigeria is solely the making for yoruba Muslims .

buhari is soooooo incompetent .

economist had for years proffered solution to this problem about to hit us . but will buhari take it NO

how can a master allow his slaves to go


https://www.youtube.com/watch?v=NehjNoZD1OY

I said it yesterday when cbn said they have enough forex for investors that they don't have any forex is just an audio forex. See now there are scarcity of the forex now. Where is the enough in scarcity?
Government of the liars by the liars for the liars. Spit

Very good news..on 7bforex when I get 1pip movement on a standard lot that's about N4500..

gurunlocker:


No online merchant will give you that rate, they have to cut charges before it reaches your account. That's why they most use parallel rate.

When the dollar was trading at 365, it was 345 in online services. I think the reason why there's such gap is because they don't trust the rate in Nigeria. perhaps they believe it's artificial and that a few people are manipulating price for whatever reason. Just my laymans thought lol

gurunlocker:


Not fake news... TransferWise is 374.12 for weeks now

Payoneer is 382.. These are parallel rates which all these websites use.

The truth behind this is, they use 3rd party BDC company in Nigeria (If you can mention TransferWise, you will know the BDC I'm talking about). They are the one eating the big chunk of it. They will get the USD at 450 and give people 374-382.


But if you use Dom account and collect your dollars and take it to Aboki or dem BDC gangan, na 450 o....

could you rephrase what you explained above. I didn't quite catch it please.

I am very much interested.

OsuIgboIpob:
CBN is indeed very stupîd under Buhari.
The present governor must be a retàrd.

How can you continue to shroud something and not expect it's value and scarcity to increase


They stopped all transactions and transfer on Forex accounts since. Even if you have a domiciliary forex account, YOU CAN NOT TRANSFER IT TO ANYWHERE.
The only thing you can do with Forex card account with existing fund is to pay for international transactions or purchase something with it online.
The only way you can fund the account is to buy Forex From bureau de change and go to the bank to deposit it.

What kind of stupîdity is that?

Since the implementation of that nonsense, naira has continued to devalue.

Is it only Nigeria that Corona virus or lockdown is affecting?


USELESS leaders.

Bros everything just dey stupid right now

Unity19:


To help you a little bit, in forex market, you have the sell rate and the buy rate. The rate we are talking about here is the sell rate. i.e. the rate at which you will buy $1. Say for example, if you need $100, you will have to pay $100*450=N45,000. Therefore, you will be paying N45,000 to get $100

This is different from a situation where you have $100 and you what to change it to NGN. the rate at which it will be changed to Naira will be lower than the rate at which you will buy USD. For example your $100 may be change to at N445/$. Therefore, your $100 will give you 44,500.

The margin (i.e. difference between buy and sell rate) is the profit of the BDCs.

Prof. You are very correct.

gurunlocker:


Not fake news... TransferWise is 374.12 for weeks now

Payoneer is 382.. These are parallel rates which all these websites use.

The truth behind this is, they use 3rd party BDC company in Nigeria (If you can mention TransferWise, you will know the BDC I'm talking about). They are the one eating the big chunk of it. They will get the USD at 450 and give people 374-382.


But if you use Dom account and collect your dollars and take it to Aboki or dem BDC gangan, na 450 o....

Which BDC do they use?

SenecaTheYonger:
its still 374.12 NGN in online money transfer service, Bleep off with this fake news.

Not true. GTbank charged me 428/$ for a $1 PayPal payment.

Fibonacci88:
Very good news..on 7bforex when I get 1pip movement on a standard lot that's about N4500..

Real niggarrr! I'm enjoying the move, because all my savings is in $. No fucking time for the shithole currency

grossintel:
Which bank will give you dollar? You don't know what is happening. Is either you collect $20 notes and go exchange for aboki at 350 or they offer you their conversion rate, they claim they don't have $$$

Same thing happened to me. The bank loaded me with $20 rather than a $100 fiat

Very very soon, $1 will equal 1,000 Naira. No hope in this country

SenecaTheYonger:
its still 374.12 NGN in online money transfer service, Bleep off with this fake news.

E be like say u no dey use card pay online or run paypal for payment.
Body go tell u.

This is surely the right time for a Nigerian to earn money in dollars, because the money go plenty when you change it to naira.
We have online training and mentorship classes where we teach people how to use their smartphone for Forex trading. Plus signal application to copy trades from experienced traders with 80% win rate.


Note: We DON'T accept investments. We teach you how to trade profitably by yourself and you're 100% in control of your money.
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Wuzyurdaddy:






You don't know when the dollar goes up, the cost of commodities in Naira goes up too.

How is that good news mate?

I know that, and i know what i'm talking about.

oneclickng:

Not true. GTbank charged me 428/$ for a $1 PayPal payment.

YEs, they'll charge you at 500 if it's possible, but won't pay you at that rate, but instead three hunderd and something. Fvck bankers. Fvck 'em all.

miniziter:
Good news. Now my cocoa will sell

Are u into exporting cocoa?

Lmfao, cedis is even worse.

Emiefele the adopted son of Buhari is working and father Bubu is happy.