₦airaland Forum

ahiboilandgas:
Nigerians smuggler over 20m litres daily of those fuel to west africa , who is they? Everbody that has run nnpc are Nigerians...the importer are Nigerians,the vandals are Nigerians the corruption in Nnpc is done by Nigerians ......nb the Nlc is going on strike aginst derugulation...Nlc na Nigerians and tuc

First
We should not be importing that much fuel in the first place


Second
We should not be subsidising imported fuel


These two conditions created the Avenue and incentive for smugglers to smuggle to west African countries
And make quick bucks

Assuming we have removed subsidy

And we are refining locally

Smuggling will be unattractive
And even buying petrol from here to send there would even be very beneficial to the country



When you create an enabling environment for corruption

Corruption must thrive

DexterousOne:
Not to talk of deducting N50 from the recipient of Money

You want to transfer N10k to a cousin or nephew

The person on the other hand receives 9950
Is that not stupidity and foolishness?

Yes it is. I was telling a banker today that there is actually no need for me leaving my money in a bank since there is no incentive to do so. Now tell me, if about 100m people share this thought with me, whose money will a bank use to pay workers and lend to borrowers? CBN is depreciating the value of Naira money and now want us not to domicile our hard-earned money in dollars.

It’s crazy people are supporting restrictions on Dom accounts. It points to a failed nation and will even scare people from making fx inflows into the country and further damage the economy. Imagine cbn taking this useless advice after ahib will tell us they have think thanks. Lol
Stop the panic now, we advised that the earlier panic in resuming fx sales to BDCs which was applauded by some here will only last for a short time, now they have moved to dom accounts, what will they move to next after dom accounts?

Mopolchi:
Where can I learn the nitty-gritty of crypto so I can convert my idle dollars?

There is no time to waste, as government is already making move to regulate that space.
If you have a dorm account just get a dollar denominated ATM.
You can then go ahead to open account with any exchange of your choice that allows Nigeria to buy crypto directly with cards.... Buying is easy and so is selling, you have a better control of your money.

chigo4u:
It’s crazy people are supporting restrictions on Dom accounts. It points to a failed nation and will even scare people from making fx inflows into the country and further damage the economy. Imagine cbn taking this useless advice after ahib will tell us they have think thanks. Lol
Stop the panic now, we advised that the earlier panic in resuming fx sales to BDCs which was applauded by some here will only last for a short time, now they have moved to dom accounts, what will they move to next after dom accounts?

Maybe they will start raiding our houses

And searching for forex

Ndi ara....

Ewu gambia

DexterousOne:
First
We should not be importing that much fuel in the first place


Second
We should not be subsidising imported fuel


These two conditions created the Avenue and incentive for smugglers to smuggle to west African countries
And make quick bucks

Assuming we have removed subsidy

And we are refining locally

Smuggling will be unattractive
And even buying petrol from here to send there would even be very beneficial to the country



When you create an enabling environment for corruption

Corruption must thrive

saudi is subsiding petrol but it citizens know it for the country....no body smuggler to Yemen for higher price ........Nigeerians vandalised the refineries...

chigo4u:
It’s crazy people are supporting restrictions on Dom accounts. It points to a failed nation and will even scare people from making fx inflows into the country and further damage the economy. Imagine cbn taking this useless advice after ahib will tell us they have think thanks. Lol
Stop the panic now, we advised that the earlier panic in resuming fx sales to BDCs which was applauded by some here will only last for a short time, now they have moved to dom accounts, what will they move to next after dom accounts?

100 firms like baba ijebu have been restricted for buying over 2bn dollars for what ?The unproductive income for baba ijebu ,bet naija and co...

ahiboilandgas:
Nigeria customs service u mean....they generate 1 trillion to the Nigeria treasury and dont get funded by the Nigeria state ...it a revenue organistation .....the smugglers are Nigerians while the customs are Nigerians the govt are Nigerians ..no Ghanaians ..

Oga, the point that I am making to you is that there are government agencies that exist to ensure that all these things that you say Nigerians do does not happen.

The reason why these agencies are not doing what they supposed to do is the same we are having dollar issues.

You said someone misused 10BN in Kano and nothing happened to him. Why?

There are government agencies that exist to ensure that if such things happen the funds are recovered.

Nigerians are good people, you see them excel in sports, entertinment, science, technology, academics ..........

Dum20:
Oga, the point that I am making to you is that there are government agencies that exist to ensure that all these things that you say Nigerians do does not happen.

The reason why these agencies are not doing what they supposed to do is the same we are having dollar issues.

You said someone misused 10BN in Kano and nothing happened to him. Why?

There are government agencies that exist to ensure that if such things happen the funds are recovered.

Nigerians are good people, you see them excel in sports, entertinment, science, technology, academics ..........

because the agencies a man by Nigeerians ....if those agencies are in Norway's man by Norwegians is will work...

ahiboilandgas:
saudi is subsiding petrol but it citizens know it for the country....no body smuggler to Yemen for higher price ........Nigeerians vandalised the refineries...

In Saudi Arabia, there are consequences for smuggling. Deterants are in place.

In Nigeria are there consequences for smuggling? Who is supposed to ensure there are consequences?

The young men hustling in alabal market and other markets, they young boys and girls working there asses off in banks and other countries, the farmers in their farms? Is it the young boys and girls in traffic selling gala? or young boys and girls in schools studying and hoping for a better future?

Who is responsible?

Dont castigate nigerians please

ahiboilandgas:
it a patrotic duty to support the policies example rifan kano chapter cannot account for 10bn naira rice loans given to famers in kano ....instead the Rifan chairman built a big mansion and rice mill for him self and claim 15000 beneficiaries have disappeared

We are our problem in the country.


FG has no business disbursing the fund, they should have allowed the banks to do it.

Can you see why unsecured loans can't work in Nigeria

ahiboilandgas:
Nigerians by pass smart meters and refused to pay for electricty supplied then wonder why nepa has not brought light ,then nepa people will dish our imaginary bills and imagine mad people should pay why woudnt they pay....nigeria govt sold nepa for 400bn naira as a private firm ..now govt have spent 1.5 trillion on same organisation in name of support ....

our folks don vex you!

people can just be really funny.

You bypass meter and still wonder why power is epileptic. Funny.

ahiboilandgas:
because the agencies a man by Nigeerians ....if those agencies are in Norway's man by Norwegians is will work...

Please stop generalising things.

A Nigerian woman once headed NAFDAC and those people making and selling fake drugs were run out of business.

Did you put the right people to head these agencies? Are they being run properly?

But stop saying bad things about Nigerians.

I have said it before, Nigerians are one of the most hard working people in the world and they are honest. Provide them the right environment and they soar

ahiboilandgas:
saudi is subsiding petrol but it citizens know it for the country....no body smuggler to Yemen for higher price ........Nigeerians vandalised the refineries...

You are still missing the point

emmanuelewumi:
We are out problem in the country.


FG has no business disbursing the fund, they should have allowed the banks to do it.

Can you see why unsecured loans can't work in Nigeria

Exactly

Dum20:
Please stop generalising things.

A Nigerian woman once headed NAFDAC and those people making and selling fake drugs were run out of business.

Did you put the right people to head these agencies? Are they being run properly?

But stop saying bad things about Nigerians.

I have said it before, Nigerians are one of the most hard working people in the world and they are honest. Provide them the right environment and they soar

really ?honest ...strange ...go and at the corruption index ...abi na Chinese be the dishonest people in Nigeria ...

ahiboilandgas:
Nigerians by pass smart meters and refused to pay for electricty supplied then wonder why nepa has not brought light ,then nepa people will dish our imaginary bills and imagine mad people should pay why woudnt they pay....nigeria govt sold nepa for 400bn naira as a private firm ..now govt have spent 1.5 trillion on same organisation in name of support ....

How come people do not bypass MTN, GLO, Airtel?

Is it not Nigerians that are running these companies?

Who allowed a loop hole in NEPA that enable people to bypass meters?

Dum20:
In Saudi Arabia, there are consequences for smuggling. Deterants are in place.

In Nigeria are there consequences for smuggling? Who is supposed to ensure there are consequences?

The young men hustling in alabal market and other markets, they young boys and girls working there asses off in banks and other countries, the farmers in their farms? Is it the young boys and girls in traffic selling gala? or young boys and girls in schools studying and hoping for a better future?

Who is responsible?

Dont castigate nigerians please

There is no incentive to smuggle the oil across Saudi border in the first place

DexterousOne:
It's a wrong move
Nothing wrong with having a dormiciliary account

Don't just say "it's a wrong move" tell us why you think it is.

Expect dollar rate to start going up from now, the cbn is just clueless. Time to release a statement to douse the tension. No one is even sure what the new cbn policy means, even banks don’t even understand. lol

emmanuelewumi:
We are out problem in the country.


FG has no business disbursing the fund, they should have allowed the banks to do it.

Can you see why unsecured loans can't work in Nigeria

the funds are disturbed through bank of agric and in accounts of cooperative society to make it east for famers to acess ...famers no get tax clearance or cooperate accounts

OgogoroFreak:
Lest we forget.

That is if the fund was kept in cash and not invested

The 180k in 1980 would have built 4 duplexes at Gbagada estate, bought 40 3 bedroom low cost apartment from Jakande Estates in Lagos.

Which will be worth over N200 million in 2020 excluding the rental income earned over the years.

Currently the investment will give you a rental income of between N12 million to N16 million per annum

DexterousOne:
There is no incentive to smuggle the oil across Saudi border in the first place

Who removed the incentive?

Was the traders in the market? Or the average Saudi citizen on the streets? The engineers working in their oil fields?

awesomeJ:
Don't just say "it's a wrong move" tell us why you think it is.

When you make moves like that

It's a wrong signal to the global community

And the Nigerian people

That all is not well...

Dormiciliary accounts is rampant across the globe

Freedom of capital movement and mobilisation is one of the hallmarks of the 21st century economic order

The more free your country is

The more capital you ATTRACT and RETAIN.


Already our ill thought policy of restricting capital flows, forex, multiple exchange rate et all is already repelling capital from flowing into the country, and Nigerian capital being retained in the country

Think of how worse it will be when they start going after dorm accounts
And make other reckless moves

Dum20:
Please stop generalising things.

A Nigerian woman once headed NAFDAC and those people making and selling fake drugs were run out of business.

Did you put the right people to head these agencies? Are they being run properly?

But stop saying bad things about Nigerians.

I have said it before, Nigerians are one of the most hard working people in the world and they are honest. Provide them the right environment and they soar

Nice one...until the political juggernauts become responsible...we will just be in cycle of even the good hearted Nigerian finding loop holes...

Dum20:
Who removed the incentive?

Was the traders in the market? Or the average Saudi citizen on the streets? The engineers working in their oil fields?

You cannot even remove what was not in existence in the first place


But Nigerian government create incentive for corruption in the oil sector

Now it is difficult to get rid of

Because those who benefit are so used to crony capitalism money

That's the bus stop we are in

ahiboilandgas:
any body residing or doing business in Nigeria is legal allow to deal in Naira and save in Naira ...any body not comfortable are move to other countries...Nigeria cannot be in endless chase of dollars printed at will by trumps America......Nigeians are the root cause ....we are smugglers,duty evaders , election bribers and money laundering and black markets operators ...the cbn does not print dollars so they have to ration the small...

Political leaders needs to take shape sir..They are the major root cause....and I'm not a smullgler neither of the any stated above...

Dum20:
In Saudi Arabia, there are consequences for smuggling. Deterants are in place.

In Nigeria are there consequences for smuggling? Who is supposed to ensure there are consequences?

The young men hustling in alabal market and other markets, they young boys and girls working there asses off in banks and other countries, the farmers in their farms? Is it the young boys and girls in traffic selling gala? or young boys and girls in schools studying and hoping for a better future?

Who is responsible?

Dont castigate nigerians please

Nigerians ....Nigerians in leadership position are drawn from the Nigerian population or voted into by Nigerians ....no be 11m people vote atiku and 15m pmb .....

handsomebolanle:
Political leaders needs to take shape sir..They are the major root cause....and I'm not a smullgler neither of the any stated above...

political leader are member of our society they didn't fall from sky....or some aliens

chigo4u:
Expect dollar rate to start going up from now, the cbn is just clueless. Time to release a statement to douse the tension. No one is even sure what the new cbn policy means, even banks don’t even understand. lol

The CBN is out of ideas

In a normal country pmb would have been impeached but cos both executive and legislation are same Nigerians notting happens ....vote 10 time the Nigerian character will be there.....is not Adam oshiom was protesting against obj and God father......i saw is massive mansion in edo state....

DexterousOne:
Sorry
But that is not our problem


We cannot keep our wealth predominantly in a currency that a goat like Buhari can destroy at will due to his recklessness and failed government policies


The behaviour is not ending soon

And like I said
If the CBN takes your advice

What follows after that
.they should take the blame

The point is if you think so poorly of the country, why do you keep living here and earning the currency. it should make more sense that you just relocate now. You like to stay in Nigeria and earn money in Nigeria but you don't want to keep it in Nigeria, that makes no sense. If it's dollars you're comfortable with, stop earning in naira too.

And what exactly would you do when the CBN says you can't transfer FX offshore.
What is that "what follows" you're referring to?