₦airaland Forum

China is known for imitation products, this Yuan this Yuan that is only for trade between Nigeria an China, besides a little Maths on the actual value of Yuan will give u a better idea of the rate;
For example, if you owe a Chinese $1000 and you agree to pay in Yuan to cut costs.
Officially $1000 = 6,470 CNY (this Yuan rate is an estimate from current official rates)
In Nigeria 1 CNY = N33 (if you are lucky)
Therefore to get the equivalent of 6,470 Yuan you will pay; (N6470 x 33) = N213,510 plus around 10 percent charges N21,351. Altogether N234,861.
Finally divide N234,861/$1000 = N234.861.

$1000 in the Nigerian black market is N320,000 plus 10 percent fees, that's N352,000.
If you pay via Yuan, u be saving N352,000 - N234,861 = N117,139 saving per $1000 transaction for paying in Yuan.

The big question now is how reliable is the rate of Yuan, and what is the realistic exchange rate in Banks, can you trust the rate and how accessible is the Yuan in Nigeria and ease of sending it to China. All these factors will help you make a decision.

Another factor is the rate agreed with the Chinese for collecting payment of $1000 in Yuan may be significantly higher than official so u may end up paying more with Yuan compared to paying with USD.

There is a saying the devil you know is better than the angel you don't know but no harm in trial.

Bro he is Wiz "Kid".

obailala:
How can a MAN be having BEEF with a WOMAN?

Some people dey fckup sha!

Anybody expecting normal Naira to Yuan rates should think again, Nigeria is not a normal country.

What a country, everything is a struggle even to buy a bottle of water at any of these malls.

Amazon Giftcard or promotional code needed $18 to $20.

Japan beautiful city.

any evidence?

This is an absolute disaster, it is not good economics to depend on a country's currency to strengthen your domestic currency, the decisions made by Chinese lawmakers towards their monetary policies inadvertently affects every country in possession of Chinese currency. The Universal currency still remains USD and the Nigerian government should focus on how the value of the Naira can be aligned directly to the USD, using Naira to Yuan and Yuan to USD is a two dimensional process. The exchange values may seem proportionate but with huge transactions over a period of time it results to huge losses for the Nigerian economy.

Just kneel down and shout "Otipikipa Ogbomosho" ten times and the man is history

Such a tragedy for Tompolo, people are celebrating you as if you are dead while you are still alive.

This man purely mixes languages such as Spanish, French and Italian, if you aren't proficient in these languages you end up mixing them together.

E-money has made money. He is like a manufacturer in the field of money making.

He has made money for peace keeping and trouble making period.

Disgrace all of you...

Jango abi Jaho Waco

Whowwww see advice from left, rght and center with confusionists confusing the confused.

When you have problem like this in Naija thts when you will know police is NOT your friend, N10,000 to register ur case, N50,000 mobilization fee.

If you are not careful they will arrest you join as a suspect, Nigeria is a joke !

Animal humiliation, MTN needs to be fined 50 million usd.

Hmm using Rolls Royce to carry corpse, "Apams is really a business tycoon".

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khassy:
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Meanwhile the Minister for Petroleum after reading the news was spotted doing this

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hehe nigerian govt is a one chance govt.

Chei, which kind story be dis. Why don't the press go and ask Linda if her something is smelly like wizkid said and lets hear her own side of the story.

Op you should have done it yourself in form of citizen's arrest but anything you see you take

We pay cash into your Bank

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If this info is true, then this is stupidityy of the highest order.

Hehe, for every $1m US invests in Nigeria they will make 50 percent profit, the conditions of such investment is surely in favor of the United States taking into account the risks to do business in Nigeria at this time.

There is no joy in this news rather we should rejoice when government meet basic needs like 24/7 electricity, free hospital care, free education and more jobs.

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Guy relax, Buhari is just going there to sit down and chew gworo, he will not contribute Jack to the summit and will leave there with shame and mockery as usual.

The runaway President.

All these new ways of botching up paypal accounts in Nigeria hmmm, anyway as you all go along you will learn.

Haha, the caption for this thread is more like PaypalKing's Journey to $4000 SCAM in 45 days, I wonder how much he managed to obtain, probably a few bucks.