₦airaland Forum

PresidentBuhari:
Dollar is currently sold at N430/$ cash at Black market and pple are here quoting N420/N430/N445/N450 for electronic funds.

What are the essence of these threads?

Tomorrow they will say Buhari this buhari that.

Mr man,
Electronic funds come with all sorts of charges. ATM charge for regular Naira cards is N65 at the 3rd withdrawal made in a bank that is not your local bank. A Payoneer card attracts charges of the equivalent of N1,200 PER WITHDRAWAL. Ask those who live in the US how much they pay as charges for using the Payoneer card.

I can use my Payoneer card to pay school fees. If I have to use the bank to buy at N375, do you know the stress involved in the documentation? If I have to buy at the street rate, I will probably still have to wire it abroad to the school concerned (commission + VAT + N4,000 telex charge), or I have to transfer it to a dollar card which costs $20 + N3,000 to acquire (depending on the bank).

So any charge you see on electronic funds is a function of the stress and other costs that it saves the user if another method was deployed. DO not just make sweeping or blanket statements based on political sentiments. Business money does not answer to political sentiments. It answers to where profit can be made.

What use is such money to whistleblowers if they wind up dead?

Even in America, organized crime bosses do all they can to hit those under the WITSEC program. Talk less of our society where the police routinely collude with criminals (ASP George Iyamu and Anini for instance).

ExchangerPLUS:
This is not true. We accept the 2009 statement but we do not accept below $50 denomination.
GTBank card costs about $27, we believe when paying for this, they should sure accept. But if they don't, well there are many other banks that does.

NB: We are not a fan of GTB, and we do not bank with them.

That means you do not know their policies. A GTB branch told me just weeks ago that they do not accept dollar series before 2009.

Chagoury's again? With the roles these C & C brothers played in the Abacha regime, should they not have been languishing in some jail house by now?

rafhell:
i hate snakes!
kill all snakes!!

Without them, the world will be overtaken by rodents and rats. Everything in nature is created for a reason and to balance the ecosystem.

Seems most of the problems we are seeing here is from BTC. Perhaps the sale of this item should be restricted in some form.

saintiflex:
Thanks Tutu. Based on your explanation, ave asked him to refund d Btc. Nwagbaradav also advised me to do so. Let me bear d loss. I mean if he's broke the has still has my Btc, den d only reasonable thing to do is to ask him to refund it before something else happens. Av learnt my lesson. Thanks to everyone for ur help. Abeg make una shine una eyes oo

What stopped him from simply telling you the truth from the get-go before it got to this point? As far as I know, his BTC trading days here are well over.

peteruyip:
Nothing will happen bro.
Let's both watch and see.
If he's lucky, he'll get the he alert today, else, he dies of high blood pressure.
I've learnt alot from this forum, I've accepted fate on several deals, I've reduced price so that a fellow brother can sell and eat. Patience is a virtue.
*if he had requested for a screenshot, before coming online to tarnish my image, it's different, it's all messed up now and
He must wait for the alert or request for his btc

This guy, you must be very young and unexposed to how the world of business works. Integrity is your only currency. Once you lose it, you lose all.

I have once repeated a job for a UK client due to errors in the original work, and offered to take a 25% pay cut to assuage the client for the delay. It looked stupid (repeating a job from scratch and then taking home less pay). Well, their company was acquired by another company in a mega deal 2 years later. When they were looking for a company from Nigeria to handle their African operations, whose company did you think was called upon? MINE. More work, far more pay.

You think you are smart, trying to ensure you don't lose money. Money that cannot probably change your life remarkably. Who do you think will ever transact with you again after now? Whereas this client you have dealt badly with could have recommended you in ways you could not have imagined if you had suffered the loss and kept to your side of the bargain. An agreement is an agreement. Pay the guy his full money as agreed and stop this useless bravado that has painted you black here.

kogistar:
you think army is going to pay that money? who told her to challenge soldier? besides, that scars on her back looks fake

You are an idiot!

Why are we lacking sensitivity in this country? Why would someone use the photo of the dead in a jocular fashion? Show some respect and sensitivity please.

Please I have up to $350 Payoneer, but will like to sell $100 of it for N420/$. Who dey buy? I can send first without escrow if you have reputation.

Toks2008:
Each time I hear people talk about getting married as one big task I just shake my head at their ignorance.

Ask any single guy or lady of advanced marriageable age why s/he is still single and you are certain to hear words like..."I'm taking my time,can't rush in and rush out,I need to be sure I'm with the right person...." but the question is ;"Does the fact that you are extremely careful in choosing a spouse guarantees a happy marriage?

Getting married is the easiest task anyone can accomplish and far easier than complicated courtship but we tend to make a mountain out of a mole hill.

You can't be too careful or careless when it comes to your choice of spouse because there is no good or bad choice but what we have is "YOUR CHOICE". Good people can turn very bad and a great courtship is no guaranty of a great marriage so take the risk and stop wasting your time in the name of "being careful"

So if you are a man or lady who is really interested in getting married then read this.

1.For the guys :

Ask yourself some vital questions about the type of woman you want,her tribe,physical attributes as well as inherent attributes and so on and don't just try out every lady in skirt.

Understand that whatever pleases your eyes will inadvertently please your soul so go for a lady that catches your fancy physically, ask her some basic questions about her persona,do a quick background check on her and if you are ok with your findings just take the risk as long as you can feed yourself and one more person and also have a place of your own.

If you can afford a lavish wedding then go ahead but if not talk to your woman about doing a small wedding by paying her bride price and going to the registry while you both plan for a bigger wedding.

If she refuses then help her foolishness by enjoying wify duties from her while she continues to wait but if she accepts your plan please go ahead and marry her and try to work out your differences...

Remember that you can never know a woman but you can only try to understand her gradually only when you start living together.

And remember that though GOD hates divorce,there is always an option of walking away from the marriage if needs be.

2.For the ladies:

Save your self the bull poo of dating and courtship...it's a total waste of time cos it's no guaranty of a happy union.

Except you are a teenager or in your adolescent when dating is mostly just for the fun of it,if you are really interested in a purposeful affair then you don't need to court any guy for more than a year.

If you see a guy you have strong desire for and he says he wants you,...do a quick background check on him and if you are ok with your findings..take that risk and go for it...

Stop complicating your life about doing an expensive wedding by fire by force...you can always do that latter but if the money is available then go ahead with the wedding of your dreams

I have seen many guys and ladies despite their over Sabi and meticulous courtship still break up with their spouse so why fool yourself.

If you like continue to waste your time looking for the ideal man and fooling yourself in the name of courtship while actually getting used by the guy.

Dating and long courtship is for boys and girls who just want to catch fun.
No matter how hard you try and how long you court a man, you can never truly know any man until you start living with him and a guy that truly wants you as a wife does not need any yeye long courtship with you.

Marriage is overrated so stop killing yourself trying to be in the best marriage...just take the risk...if it favors you,stay and if it becomes unbearable,take a bow so why waste your time trying to be too careful when you can never be sure of getting an ideal man or woman no matter how careful you may be.

My take.

You are obviously not married. I did a long courtship and I can tell you that my wife and I have achieved great things together with more to come. Marriage is a great institution if you make the right choices.

Radio licenses fees are not new. I am aware that as far back as 1991, this was being charged in Rivers state. So what's the big deal?

I recall being stuck in a traffic jam in 2004 in Port Harcourt. Hold-up from Garrison to Eleme Junction. Left work by 8pm, got home by 3am. That was the worst experience of my life in terms of driving. The very worst.

The weight loss is ao obvious. He should just take a year off. For his sake and that of the country.

Lies, lies, lies.

If you want to buy dollars here, they are selling at N470 to N480 on the street. So where is the crash?

Tabbaz:
pls epp us ban SunejGloball if he's not yet banned. He's still luring around the thread

Thanks

cc
puskin

My first transaction with Sunej Global (the real Sunej Global) occurred several years ago. Some months back, I exchanged WebMoney with them and I got my money in 5 minutes. They only deal through their website (where you have to register and verify your identity and can only transact after login) or through their offices through face to face transaction.

I do not believe for even one minute that they are the ones behind Sunej Globall (note the double LL) or that they are the ones behind the Facebook scam. It is obvious there are impersonators scamming people in the name of the company. Even some of the trusted e-exchangers here have had people trying to impersonate them.

Anyone who wants to do business with the real Sunej Global company should either go to their offices or follow the registration and verification process on their website to carry out transactions, NOT WHATSAPP OR FACEBOOK!

I am not endorsing Sunej Global: I am simply stating my experience with them. Several transactions dating back to 2011 and not one single episode where I was scammed.

Russia spent $75billion trying to defend the Ruble in 2015 and the currency still ended that year close to 13% weaker. I don't know where our central bankers get their wisdom from.

Introduce a free float and let us know the true value of the Naira. From that point, we will know it cannot get any worse than it will get.

I loved GEJ and some of his economic initiatives. But I have the following against him:

a) Fuel price increase
b) wanton corruption under his watch.
c) The pipeline contracts to ex-militants

He failed badly in these three areas and Reuben Abati should know this by now.

nkpommpko:
I was called, and asked if I have buyers of Oil (crude oil) and I started wondering if there is a shortage of oil buyers now. Please I do not understand please I need some light to be ahead on this. How does this work?

Overtake wan overtake overtake (in Fela's words).

All fraud! As far as na this Abuja wey I dey, na confirmed fraud.

onatisi:
You just dey look oo
I am enjoying the show

Are you also seeing what i am saw? Dollar no gree come down o. Where are the guys asking CBN to "keep pumping"?

emmykk:
i now see you guys are nairaland business men....so me that is in delta state must order from you in AKS before i can buy whatever quantity i like to buy.

if you are sending palm oil to north it is understandable but some1 sourcing it from you in rivers state is a big fool.

i also see you guys are kids or the millions you guys are making is taking reasons from your heads.


i repeat some1 in rivers states has no business ordering palmoil from AKS...he or she can get it at river states.



the idiots that will mention me in the negative in this matter must be a daft

Why does Apple, an American company, make its smartphones in China?

You again, continue to use foul language like a small child without addressing the issues. Explain to us properly, since we are all daft and you are the only wise one here.

My aboki brothers here in Abuja sold raw dollars at N480 yesterday. Now today's bid price has climbed from N430 to N445. Where are those predicting Naira crash below N400? Abeg make una help me understand ooo!

emmykk:
it is you people that is derailing the thread.i only suggest there is no need to carry coal to Newcastle...they are all in the same vegetation

You are yet to say anything here. By the way, I have lived in Rivers, Akwa Ibom, Cross River, and Edo states. I am also a Niger Deltan. So there is basically nothing you will say about that region that I am not familiar with. I asked you a simple question: what is the comparative advantage of buying palm oil from PH as against AKS?

Nobody said AKS is the only source. But if I am to source a product, there are factors I must consider in order to ensure I get the best possible deal. So please, can you enlighten the house on why a potential client like me should source my palm oil from Creek road when I can get it cheaper in places like AKS, Imo and even Ebonyi States?

Bike that was N65,000 under GEJ and now N300,000 under PMB. How the man no go cry?

emmykk:
someone buying1000 kegs of palm oil can hit creek road market PH on their market day and get palm oil.

stop puffing as if it is only in AKS you can get palm oil from south south.

you just want to expliot his ingnorant,Mr greedy Little one

Mr man, can you stop derailing this thread please? Ok, we gree. You can buy palm oil at Creek Road market in Borikiri. No problem. Why don't you convince us why creek road should be the port of call and not AKS?

Don't mind the taxi man. Here in Abuja, they always break every known traffic rule. They park anyhow, discharge passengers on the road, enter the road and swerve anyhow, and they are rude.

Thank God for road safety and VIO guys who visit them with the ling sens of the law. If not, Abuja roads would have turned to something else. I feel zero pity for them.

grandstar:
There are lots of question marks concerning your analysis.

First the abokis are not selling simply because they can't afford to sell at a loss. They must have bought at 480/490 so are unwilling to make hefty losses. They are hoping that what is happening is a fluke and things will go back to normal. Let's wait and see.

To some extent, the fundamentals are still the same but there has been some change.

The devaluation of the naira for payment of school fees and for some other things is a mild effort to ensure the exchange rate is market determined. This would have led to a drop in demand at the official level which might have had an impact on the black market.

Your solution is simply a reharsh of the same old thing i.e. to reduce demand for forex.

That has been part of the government's policies ands has been instrumental in leaving the economy in tatters.

You believe that reducing demand for forex is the solution but it really isn't.

How much forex do you expect to save when Dangote's refinery comes on board? Truth is no matter how big it is, the effect will not be long lasting.

You need to understand that Nigeria punches far below its weight. Brazil whose population is only marginally bigger than our exports $800b worth of goods and services.

This is greater than the Nigeria's GDP. Nigeria is punching far below it's weight. As the economy grows, new demand for forex will simply eat up any savings that was achieved.The economy will not stay the same size forever.

In 1999, a savings of $1b would have been something. Now, its noit much.

The smart money is on exports which your article was completely silent on. All countries that have become rich have achieved that through globalisation. Even prosperity was through the "export" of crude oil.

That is the only great thing about Dangote refinery. It has an excess 200,000 barrels a day for exports.

Government must introduce policies that will give exports the boost it needs mainly, the reduction in lending rates to single digits which will lead to a massive boost in investments in the real sector especially manufacturing. With low interest rates, companies can import world beating machinery which will make them competitive not only locally, but internationally as well. As they keep expanding, the local market will soon become cramped and they will be forced to export.

Also, other sources of forex such as Foriegn Direct Investment and portfolio investment should be encouraged. The senseless exchange rate regime which Buheri promoted has led to foriegn investors fleeing the country. In 2014, $21b was invested by foriegners. This collapsed to about $10b in 2015. No one will bring their money in at 197 when its 300 at the black market.

If the government concentrated massive efforts on generating forex, the reserves could easily rise by $10b within a year.

Thank you for bringing in another perspective. It helps us all to learn as no man is an island. Unlike some who resort to personal attacks.

lifestyle1:
What if the government keeps pumping in 250 million dollars monthly for next 10 months ?

What will happen ?

250m X 10 = 2.5billion dollars. The same amount your govt has been begging the world bank to borrow.

Nigerians are not thinking. Where is the money to keep "pumping" coming from? CBN does not print dollars. Where is the money to defend the Naira going to keep coming from? We don't even have enough money to fund the budget.

Snake venom is made up of complex proteins. It is absorbed in receptors where it exerts its action. It is not a poison. Afterall, do hunters not eat game they have shot with poisoned arrows (curare compounds)?

Enjoy ya meat jor!

Firstcitizen:
Your position is irrelevant. We have more experienced, tested and qualified hands working to get things as normal as possible. All of a sudden every Nigerian has become a self acclaimed expert in economics...smh.

I have a professional qualification in the area of technical analysis. This is part what I do for a living, bro...

Any country that has to keep relying on its central bank using scarce foreign exchange to shore up their currency is going nowhere but dancing around in circles.

Even a novice who knows laws of basic demand and supply can decode what is going on right now. The street sellers are capitalizing on the panic sales of those who have held their US dollars and are mopping it up at low prices. They are not selling US Dollars but will buy and only at very low prices. Once they have mopped up free dollars in the hands of the populace, a new round of dollar scarcity will arise. This scenario happened sometime in September/October.

No central bank will keep using a currency it does not have a legal mandate to print but has to earn, to keep defending its currency. The govt has to fund its budget with the dollar earnings from crude as well.

Aminu Gwadabe is the chief speculator! When asked on Channels TV by one of the anchors on the morning program sometime last year how much his own BDC was selling the US Dollar, the man snaked around the question and failed to answer it.


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

It is unfortunate for him that people like me keep records and will always unmask people like him that think Nigerians do not know the games he and his BDC members are up to. They are the speculators.