₦airaland Forum

stagger:
Well, I am telling you what was obtainable just before the CBN banned foreign payments with Naira MasterCards entirely.

a) You receive Moneygram or Western Union: you MUST receive the cash in Naira at the official rate. In other words, the banks buy it off you at maybe N198 to $1.
b) You use your foreign cards on a Nigerian ATM. You are paid official rate or even less (Payoneer is about 193). So the banks again, have earned dollars on the cheap as the foreign banks must settle the transaction in USD.

Now it gets interesting.

a) You make a PayPal payment from Nigeria. You are billed at N283 (what UBA charged me last week of December.
b) You make a cross-border payment on a POS or website. You are billed at black market rate.

So when the Nigerian banks now have to settle the foreign merchants, they do so using your acquired dollars they got at official rate and sold to you at black market rate. So the banks are making a killing off the differential.

Until a banker comes here to counter what I have said, this is my understanding of the situation.

Export1: USA cars for sale: 3 advantages of buying a car online from Nigeria


There’s little doubt about the fact that America is the best seller for old and new cars. But if you reside in a faraway country like Nigeria, then what do you do? How do you buy the car? How do you ensure authenticity? How do you ensure safe shipping? And above all, how do you do all these within your given budget?

Internet holds the answer to all these questions and gives you tailor-made solutions. At websites of reputed dealers & agents, you can come across an array of USA cars for sale and place your order. Buying a car online has several advantages. The chief ones are summed up below:

Getting the best deal: Internet gives you the opportunity to scan through the profiles and rates offered by all the top dealers. You can do that right from your Nigeria-based home and just in a few minutes. You don’t have to haggle, you don’t have to travel and you don’t have to miss your office.
Easy to compare the features: Internet virtually places all the cars in front of your eyes along with their listed features. It becomes extremely convenient to compare and select the best from the lot. Plus, the top websites also permit you to use their various tools and price calculators. All these tools do enhance the whole shopping experience.
Other benefits: Online sites also auction USA cars for sale, thus giving you the chance to get further discounts and make the most profitable investment. Auction sites also help to transport or ship your vehicle to your home country.

http://www.auctionexport.com/car/USA-cars-for-sale-3-advantages-of-buying-a-car-online-from-Nigeria.html

amaka1:
hi queent

no you don't drain the water, as soon as the pot starts boiling, stir in the fried tomatoes and pepper.