₦airaland Forum

Please do you have an idea what their $ - # rate is presently for receiving in Nigeria?

agarawu23:
yes

Oga you don't need a contact, you already have one...else how did you get to send $5000 to China when the threshold is $1k per quarter lol.

Let's just rest this issue...there's no use pretending like we all don't know what is going on. Have a nice day.

kennyman2000:
let me standby maybe i fit get get the contact of that her insider. No be only u like money. She fit vex come give us the insider contact ooo.

We wont give bookiemart,stanley,tosinjay and other people wey no join in fighting for the release of the insider contact. Na only me and u go share am. Hahahahahahahahahahahaha. Ohh boy, if i get that contact. Dollar he yaf suffered!

Hello Sir,

The last time you contacted me in February, it was in respect to Form A which I said was processed within 3 working days at CBN rate by Stanbic if I could remember correctly...and not WU.

I'm not exactly sure how this works, but I doubt very much that the forex received by your recipients when you send WU belong to our own banks exactly. It's more like an exchange thing which 'the banks do on behalf of WU', that's why it is charged at WU rate and not CBN rate. So saying that banks won't want to let their forex go at a certain rate is blah blah as far as I'm concerned...Besides the Naira received here on behalf of WU is in turn used to pay the multitude of people who still receive money from abroad via WU.

So please do not be deceived/do not mislead others, those people at the banks (especially FBN, the most corrupt of them all) in charge of WU are cashing out a lot at the expense of those who genuinely need to transfer money. The forex belongs to WU, and not our banks...they are just channels of money transfer. Btw, the bank my friend used in February is sterling bank.

agarawu23:
hello miss,

When you talk about western Union, moneygram, express money and wiring in general, no one is new to me cos i have been using it to send money abroad from nigeria to buy cars.

You could remember I emailed u privately when I saw your previous post on your success in sending wu.

No doubt, insider are doing it. We have insider in FBN, diamond bank that do help even when naira to dollar was high. But presently, no BANK is ready to use their forex for u in CBN exchange rate.

Banks realized ppl now use it to make money.
They will send their forex for u 198# and you will resell it #300+ huh? Nobody is ready to lose o and its affecting those with genuine reason.

If you can send the money for me same way u sent yours weeks ago, you might pocket 100k if your insider can send $5000 below at same rate they sent for u.

FBN still sends Western Union, that much I'm sure of but you'll definitely need to know a 'worthy' insider that could assist as most of the staff are hoarding it to whomever is ready to 'settle' them. Plus it's at WU rate of the Naira equivalent, so I'm not sure when you say 'you have to get your funds from the black market' to send money via WU...what I know is that the Naira equivalent is deducted from your Naira account with the bank. Besides, a friend of mine still sent money to his wife in the US sometime in February with WU through another bank (not FBN) at the rate of #212700 (interest inclusive) although she received $997 instead of $1k, and this was when USD peaked at #400.

I think most Nigerians are just pretty greedy, and in doing so, we find ourselves at the receiving end of the repercussions most of the time.

kennyman2000:
Lol.. Mine isnt paypal fund. Mine is western union transfer. It can never be on the same rate with paypal. Justi is paypal. Paypal can be easily done via cards and online while western union, you've to walk into a bank and get the transaction done. Note also that western union charges is alwas higher than that of paypal. Justi can easily get her funds from freelancers and sell while that of western union, u may need to get ur funds from black market and walk into a bank and get it done. Meanwhile, no bank does western union for now sef but KENNYMAN2000 know him way and thats why i am here for whoever needs my service.

Advert: $5000 available for china western union transfer. Rate is 326. Contact/whatsapp: 08108009824. Serious people only.

Some cars come with factory fitted tinted glass...especially SUVs.

missKiffy:
gare why do you want a tinted glass

Regardless, mallams will buy from you at about 310 - 315 and resell for 330 & it was that way throughout last week, so your price should at least be a bit in between. Anyway, no pun intended...it's not like I'm interested in buying...so please nvm

demosoft:
the rate you quoted is the average and not fixed rate.

Your EUR rate is higher than the parallel market rate...bought a few at 330 yesterday!

demosoft:
stanbic won't sell you 20k, not even as PTA. My EUR is 340. Super hot

Yes I submitted my application at a stanbic ibtc branch in Lagos last week Friday and the transfer was processed on Tuesday morning. Please avoid certain banks when you're trying to do a transaction like this as they'll prefer to hoard the forex sold to them by cbn to the highest bidder rather than use it to process your request...And guess what, the forms you fill for the so-called 'unapproved transactions' are also used to obtain forex from the cbn.

agarawu23:
I doubt its easy.

My dad has been filling form A for the past 3 weeks but only $1000 was sent.

You did it recently ?
Location please

I doubt that this is eligible for either Form A or Form M...you may check with your bank tho. The only other alternative is to fund your domiciliary account with funds from BDCs and then do a funds transfer online or at your bank.

lukman22:
what if the money is to buy a car abroad? i mean payiny it to family member account.how can i transfer the money?

It's 197.50 to $1 but I was charged at #284.03 to £1 on Tuesday (3days ago)

Pasca07:
so if you want to pay school fees it is 200 naira to 1 dollar?

It depends on what the money is for...if it's for tuition fees or medicals, please make use of the Form A at CBN rate....just did with stanbic, pretty easy, took only 3 days.

lilreese:
How do I send money abroad apart from form A

Please thread carefully when you quote abokifx...more than 80% of the time I have considered the price on that site, I have gone out to make a fool of myself at the parallel market!

tumababa:
₦350 this evening. This is real definition of change

You just took the words right out of my mouth! Btw, I have quit my job twice without a backup plan & both times, I didn't even seek anyone's advice even at home as I was certain they'd convince me otherwise. If I'm not getting fulfilled at what I do, there's no use keeping at it as it seems more like a waste of time.

And both times I started something on my own to generate some income, that way, I wasn't desperate to accept any offer that came my way and as such didn't fall into the trap of another frustrating job.

blackprowler:
You think back-up plans are foolproof? Yea, I quit my well-paid job, my back-up plan crashed and I don't have money now. No, I don't regret quitting my job as I had many many years to think about it. In Nigeria I know your logic is to regret an action if your subsequent hopes don't pan out. That's wrong. They don't have to be linked necessarily. I'm a much much better person and know a lot more today than I would if I stayed on the job. What just remains is that spark of opportunity and all the equipping I've been doing on myself will bear fruits - and it will come. I do not go after the money as most Nigerians; I go after my personal happiness and contentment. Some jobs force you to live a lie, and I'm just not that kind of person

Wow...this is deep! There's a lot of wisdom in what you have written here!

HomoDroid:
Isa:4:1
And in that day seven women shall take hold of one man, saying, We will eat our own bread, and wear our own apparel: only let us be called by thy name, to take away our reproach.

All this feminism or women's right will lead to fulfillment of this prophecy when men will wake up to realize there's very little in marriage for them. The BabyMama syndrome is on the increase, yet women still justify their increasing penchant for mutating to men.

The men will soon find it more convenient to play the role of women when they tame their egos which are currently facing persistent assault by the womenfolk.

The Lion King has learnt to leave the hunting to the lionesses and only concern himself with territorial management!

Sorry I thought transfast paid at $1 - #245, plus you still have to pay some charges, about $4.99 to send money to Nigeria. Anyway...

benpedro:
i have $1000 now but can only pay into a US account.my rate is 290.tell me now if you're interested. besides who still uses western union or moneygram when you have transfast

They didn't give me the exact money sent...my calculation is the deducted $25 for every $400 or thereabout...besides, I was told by my bank that I could withdraw up to a maximum of $10000, not sure how true that is, but they never told me that they didn't have usd when I wanted to withdraw from my domiciliary account so I don't think that is an issue.

Clone2020:
Wow thanks for the info. I can get the bank's swift code and I know they charge a small fee, plus the 2 business days wait isn't a problem. I would to know if the bank gave you the exact amount of dollars (after the deduction) sent.

I totally agree with you...Imagine GTBank publishing that it sold some huge sum as BTA/PTA in the 1st two weeks of February, a bank known to never sell travel allowance even when it was $1 - #170...it's high time CBN starts taking its regulatory responsibilities seriously.

youngalex:
I blame CBN for creating the loopholes capitalized on by commercial banks,Henceforth Banks should on a monthly basis forward the list of Companies that applied for letters of Credit,with their mail addresses...If the commercial banks are issued dollars CBN will personally notify those on crucial import list,when they are notified that their letters of credit,forex transfers etc has been approved by CBN they can proceed to assess forex,Giving the Banks Money without a proper follow-up on the way it is utilized is inefficiency on their part and a catalyst to unwholesome practices....CBN is the cause of this financial crisis

Yes it is possible...however, you need to get the funds transfer instruction (intermediary bank details, swift code, IBAN etc) from your bank here in Nigeria. In my case, the money was sent on a Friday night from Paris and I received it in my domiciliary account on a Tuesday afternoon late Jan, so that's about 2 working days in total. The bank did not dispense the exact amount of dollars so you may want to ask the sender to add some extras to cover deductions.

Clone2020:
Pls is it possible to receive wire transfer from a foreign bank into a domiciliary account? Will the bank dispense the exact amount of dollars transfered into your domiciliary account?

Please what do you mean by documentation is key? I was told to only come with the admission letter, invoice and copy of intl passport bio data page.

lilee2hot:
Stanbic IBTC. 3 days max. Documentation is key.

I understand your worries but I must say that not everyone on Nairaland is a scammer. If I'd listened to all the soft scam tales here in the past 2 weeks or so, I would have missed out on a very good opportunity to buy forex inflow into my dorm account earlier this week at a VERY GOOD PRICE (almost $1200)...and wait for this, I stay in Lagos while the seller stays in Enugu (met him on Nairaland about 3 weeks ago, never seen him face-to-face), and he even sold more than I needed to me & asked me to pay the balance by weekend...I guess the world, nairaland inclusive, still has some good people in it; at least, I know I'm not a bad person...caveat: that's not to say anyone shouldn't take the necessary precautions!

My point is, don't shut your eyes & mind too tight for all of the bad people to move along...cos some good ones will definitely pass you by too! Life itself is a huge risk!

mrcodebreaker:
I remember the last time I was scammed during my growing days, the customs officer told me he was in birnin kebbi. I urge you guys to meet face to face. Mr man. you should have someone in lagos or abuja. Where I can come and meet them with raw cash. Even if na inside bank sef. my GTbank was 285.55 today after my maths so your price is not worth it.

I called GTconnect yesterday and was told that withdrawals from dorm accounts is now possible...I haven't tried yet though

bdavis:
Are you certain? Cos both stanbic and GTBANK says the ban on withdrawal across the counter is still in place so you can't withdraw

FBN deducted #35,406.10 for £85 today for a transaction done 2days ago, that comes down to #416.54 to £1 on the visa card...

bigdot1759:
Pls what's d 1st bank card current exchange rate now & deir daily spending

I really don't understand why people generalise issues they know next to nothing about...why do Nigerians living outside the country always assume that all Nigerians don't pay taxes. I know that I was taxed at the rate of 19.3% from my monthly pay last year (and I wasn't a senior staff), which I wouldn't do if I had my way because I don't get the benefits you get when you pay your taxes where you live. And I also know of others who continue to pay way more taxes than I did, and don't enjoy any benefits for doing so. Please note that even the smallest of allowances were taxed. With a deduction of about 25% taxes in the UK, you're sure to enjoy a lot of benefits from public utilities to vast opportunities. So please, do your research properly before you post a similar article next time.

jayfolarin:
I'v wanted to write this article for over 2 months but its discouraging thinking about the number of points i need to raise to support my claims! NIGERIANS WANT THE BEST THINGS BUT NEVER WANT TO PAY FOR IT!! HOW ON EARTH DO YOU WANT YOUR COUNTRY TO DEVELOP?!

Quick question; Imagine government fixes Nigeria's issues of electricity and internet with other basic amenities today, Who here would be willing to pay an annual rent of N1million for a single room (Not one bedroom flat oo) in a city like Ado-Ekiti and N3million for the most average single room (shared toilet and bathroom with at least one other person e.g face me, I face you houses) in a city like Lagos?! Note: This is just basic rent and is therefore without utility bills such as Electricity, Heating, Water, Garbage, Internet etc that averages about another N900,000 yearly.

I couldn't stop shaking my head at the gullibility of some Nigerians as i read the various comments on the N50 bank charges thread. That is what? 2cents charge on banking transactions that does not even include savings account that most of the commenters use oo! Even South Africa reportedly demands that you pay an equivalent of N500 for deposits into your own account (Savings or Current)! Where I live, you are demanded to pay an equivalent N4,200 in charges for deposit into another's account if you aren't a customer of the bank!

Nigeria has the lowest VAT tax in the world and i'm sure y'all will take to the streets in protests if this is ever increased! I pay N1,500 in charges for every ATM interbank withdrawal of an equivalent of N10,000 and you all couldn't stop screaming at the N65 naira (after 3rd transaction) that was introduced by the CBN last year! Haba Nigerians!! You want to live 'comfortably' like Americans and Europeans but aren't ready to pay the price! Who does that sh*t! One of the major reasons why you don't enjoy goodies is because because you haven't had to pay enough taxes. It is partly a reason why the government doesn't feel very responsible to the people as well. Oil is not anyone's property anyways.


I really can't remember the last time i visited an hospital but i'm mandated to pay an equivalent of N23,000 monthly for health insurance! Would you be willing to pay such amount for the sake of development in the health care sector in Nigeria?! I don't think so but you would be the first to take pictures for nairaland about the pitiable state of one hospital in your city!

You want the best Infrastructures in the world but have never paid taxes from your businesses! Some people would rather close up shop than pay the most basic tax to the government! How on earth do you expect any development if you aren't ready to help government with funds? Nigeria is not the only country with oil, we don't even have as much as Russia but expect to get everything for free because there's oil in the land! What would y'all have done if you didn't have anything but rocks and granite? you would expect the government officials to use their personal incomes to develop the country first and then see if you like it or not before you decide to pay?! I no pity your destiny!

Nowhere in the world is mobile internet data cheap, Nigerians automatically feel they are being ripped off by mobile operators who use the same infrastructure that's being deployed everywhere else! For a 2gb mobile internet data allowance from T-mobile, I pay N5,000 monthly, This is not even close to what Nigerians get from the mobile operators but they scream to the heavens still. Agreed, cable/ADSL, wired internet is cheaper but you cant blame this on the telecom industries, Government should make provisions for that! But again, how many persons would not scream 'Rip off' if you all are asked to pay a mandatory internet fee ranging in thousands of Naira every month

From food to clothings, transportation, even prostitutes (Girls in brothels here charge at least 12k for a quickie, Don't ask me how i know ), Nigerians live on the cheap and want to keep up with the expensive! No! It doesn't work that way! You have to pay for developments that leads to a robust economy which in turn leads to higher standard of living (Job creation, Increment in Minimum wage, Good roads, healthcare facilities etc)..

I really don't see why it should...if the CBN continues to hands off the responsibility of being the sole source of getting forex across to everyone who needs it, like it already has...which will be some sort of a blessing in the long term when it has excess forex after shoring up the country's reserves. I think I'm somewhere in-between optimism and pessimism here, that point where realism tells you what scenarios could eventually play out if things are done in a certain way. The law of demand & supply will decide eventually, but #400 to $1 in July 2016, I doubt it very much.

Maybe I should have asked you why you think that will happen in the first place.

Addicted2Women:
The exchange rate on the black market was $1 to 305 naira as at January 17th 2016.

It went to $1 to 295 naira today January 19th 2016.

Trust me, naira will not appreciate.
It will keep going down.

Can some put a bet with me ??
$1 will exchange for 400 naira by July 2016.

I wonder...he came here to share knowing people will be curious, this is an information sharing platform

Stanley08:
If you can't share then why did you announce it in the first place?! Now u should keep quiet and stop fueling the fire.

Yes it will...how soon is what can't be predicted! Personally, the fact that the CBN stopped selling to BDCs is a brilliant idea to me...people should be allowed to source for forex especially at this critical time when the CBN is not able to meet up with demand, but with a bit of regulation ($10000 daily limit by the banks sounds good at this time)

datigbogirl:
Does it mean the dollar is coming down anytime soon cos it really has to oh with d terrible rate at which naira is crashing.

You just took the words right out of my mouth...God bless you!

Sant1m:
This is not recession, it is an over bloated economy relying on slush cash in every aspect of our national life trying to correct itself. PMB ascendancy is blocking leakage in Govt revenue via TSA. For all people of good intent PMB needs our prayer to see this through, in no distant time prices of real estate will fall and by extension rent, soon most Nigerians will start living within their means and enterprise will become the order of the day as against rent seeking life styles. God bless PMB

GTBank is still $300 daily...made a payment this morning and it went through

miqos02:
gt bank is $150 daily max, stanbic is $350

Please do you know if one's allowed to spend the $1000 monthly limit at once or you hve to spend it in bits?

ifax:
Gtbank 269.9 01/01/2016

I just sent you a message here...this is a good arrangement. I stay in Lagos and I use GTBank too...Kindly reply

davolax:
I have $3,000 to sell (GTB), please inbox me if you want it and you're in Lagos. I'd rather do a face to face transfer in a banking hall, since we do not know each other. If that's ok with you
In the message, kindly send your phone number so we can negotiate where/how we can meet and rate.

I'll send you an e-mail now...don't worry, we'll work around the trust issue, besides, every acquaintance was once a stranger!

ekenetheorg:
I'm already weeping at the mistake I made.
The only issue here is Trust. I sent you an inbox request shaa so I can keep in touch when I have to my next usd inflow

So far, all we have been discussing have been forex rates (Atm, Pos,Dom account)...Except for those who have issues with the mods!

pretts:
Yes...conversion rates for withdrawals with your usd denominated cards is at the cbn official rate of 197 - $1...I guess it's better to look for anyone who's willing to buy from you at a reasonable rate and you'd do an e-transfer into the recipient's Dom account while they pay you the agreed Naira equivalent. I'm interested if you're willing to negotiate