₦airaland Forum

Tekashi69:
lol nobody likes you, stop whining

Talk to yourself Have you seen her profile picture? Like we say in the hood "She is a keeper"

SavageResponse:
You people will just come online and start writing nonsense voodoo economics.

There is no way the central bank of any country in the world would prefer to give preference to BDC operators over banks as far as allocation of forex is concerned because banks are better regulated and are answerable to the central bank!

Better regulated in what sense? Have you ever tried to do a wire transfer to pay a foreign company using any of Nigeria's banks? 95% of Nigerians source foreign funds for their businesses via parallel markets. The official exchange rate is 416 but only the banks and a few connected businesses get to use that rate. The parallel is @ 700, the gap between the official rate and the parallel rate in the corruption tax. CBN disburses an average $500m to the banks to fund their forex requirements. All i am advocating for is CBN to give banks $100m and $400m to the BDC. To satisfy your need for oversight stipulate that they can sell to the masses at N510 this will make the artificial rate of N700 disappear.

ufotunang:
....you said external reserves... crude oil revenue 80 billion, disapora remittance 60 billion, LNG 30 billion...total 170 billion per year....and where will the CBN get $500 million dollars that is 250 billion naira to give the 200 billion naira to the banks and 50 billion BDC exchange every month when Nigeria is paying fuel subsidy of up to 350 billon naira every month ..which is 4.2 trillion naira every year...to subsidize fuel...all this money that should had saved in the CBN..... federation account, excess crude account, external reserves used to pay fuel subsidy

All amounts quoted are in Dollars

Greyworld:
This is a temporary solution to a permanent problem home you know that Sir

I am very much aware of that. The big problem coming down the pipe is going to be how to pay for the external loan the country is currently carrying. If the exchange rate keeps going up that means it is going to cost the country more just to service those loans

ufotunang:
... where do CBN have enough dollars to sell to BDC when the country does not earn much dollars.thriugh exportation...nigeria is a consuming country...we import a lot...no much revenue iscoming to the country to the federation account....the federal government is even collecting loan from china to fund the budget...so a country that does not earn much dollars.. then how can CBN have enough dollars to sell to BDC. I do not think you understand what I have been explaining to you in my write ups above to you

I tried not to bore you with intricate details regarding Nigeria external revenue but at this juncture, I have no choice. Here we go Crude oil revenue 80B per year Diaspora remittance 60B and LNG 30B total 170B. Your CBN announced that the country spent 80B on importation yearly. Ask yourself this simple question how can a country like Nigeria consume 80B on importation? Impossible. CBN monthly outflow to banks in support of the naira is $500m instead of doing that all I am advocating for is to give the banks $100m and $400m to the BDC. The official exchange rate on CBN website is 416 but this 700 nonsense is the BDC exchange rate. BDC does not have dollar liquidity so to attract dollars they have to inflate their rate. 95% of the consumers source their dollars from BDC.

SadiqBabaSani:
The Audacity of this people will be studied in future generations

from $33.75m to $375k amazing

ufotunang:
...how do you expect him CBN to supply more dollars to BDC .. when the country does not earn much dollars and export much things, commodities, goods inorder to earn much dollars... Nigeria do not produce much, production, even some companies are struggling to survive due to the hard economy, bad economy.... Nigeria always imports almost everything even importing toothpick.... when a country imports too much of things, goods and less exportation of commodities , goods that country will spend more dollars to import which makes the dollars to be scarce in nigeria and when dollars is scare it makes the exchange rate of dollars to be high and devalues the naira....and they is a limit the CBN can print currencies, money...so if Nigeria is a country that consumes less..less importation and exports more Nigeria will earn more dollars and the exchange rate for dollars will be less and the naira will have more value ....and also rich men and politcians looking for dollars to send their children to abroad to school and also seeking health care in abroad makes the demand for dollars to be high and scare which also makes the exchange rate high...the CBN cannot supply much dollars to BDC when the country is not even earning much dollars... always importing almost everything and less exportation of goods

Instead of making Forex available through Banks all, I am advocating for it to make Forex available through the BDC. Right now BDC scarcity is dictating exchange rate for the country. CBN rate to banks is @ 416 which indirectly should have been the official exchange rate. Sale to BDC @ 450 then you see exchange rate drop to 550 which will be better than 700

christejames:
Emefiele is a huge disappointment...

A sound mind who was later turned an economic neophyte after hobnobbing with the evil people in APC.

That sound mind is very very subjective. The man has never come across as being bright to me. The man is as dumb as a doornail if you ask me. He stopped selling BDC dollars @416 because the BDC turn around and sell the dollar @508 which to him was too high. now that is @ 700 will you still call him sound mind

okeysoninv:
Nigerians are not asking fundamental questions to this CBN govt. Nigeria exports about $60b crude oil annually,$70b gas annually , remittance $20b . are we supposed to be in this mess with this excess dollars about $150b dollars annually from this. I have included non oil exports. so where all the money going yet there are scarcity of dollars everywhere.

Exactly there is no scarcity of Dollars this whole mess was an artificial scarcity created by the greedy CBN head man

ufotunang:
It's not the central bank govenor that caused allthis problem.. .it's the federal government and Buhari...a country that is always importing goods , products, fuel, disel, kersosene, gas and the country Nigeria is not producing much and exporting...it's dollars that will be used for importation.... politicians, rich men send their children abroad to school.. dollars is used...health care abroad... dollars is used... manufacturers have to import machies , raw materials for production... dollars is used... politcians using dollars to buy votes from delegates during their party primaries election..so the demand and pressure for dollars is high .. which makes the exchange rate high and devalues the naira... Nigeria is not exporting much to earn dollars and pounds... that is the problem ...not CBN governor

Your CBN man created this mess by reducing the supply of Dollars to the BDC. The man is a banker he has always done the bidding of the banks, He created scarcity which is exactly what he wanted. To correct this mess start selling dollars to the BDC @ 416 then watch what will happen

MITCHELL96:
This wicked man!

CBN governor my foot!

Same man that stopped Nigerians from buying dollar to save themselves.

May you die of cancer!

This CBN governor is the most incompetent human being I have ever seen. The man is clueless when it comes to financial matters. You prohibit BDC from getting dollars but made it hard for ordinary people to walk into a bank and buy the dollar for their business. You selling dollars to the banks @416. The banks then turn around and use the money to fund their international debit card @ 590. If that wasn't comical enough the same banks sell the dollar to the BDC at an inflated price. When this man was appointed dollar was trading @ 510 now its @ 710, The man should have been arrested and charged with treason. When Buhari was elected exchange rate to dollar was @ 184 yeap @184.
Your CBN guy is a banker, not someone that should have been put in that position.

Tb222:
All will be well with Nigeria and Nigerians, this storm shall soon be over.

I am no longer optimistic when it comes to Nigeria getting better I used to consider Nigeria's problem to someone having a fever and as time goes by on the fever should break. Now I think Nigeria's problem is a tumor, and as time goes by a tumor does not get better. It spreads all over your body eventually killing you

iwaeda:
https://www.thecable.ng/2023-politics-without-ideas/amp

Ruben what were you expecting when your Presidential candidate ain't got no clue regarding current expenditure and recurring expenditure. I listened to the whole interview. Atiku came across as dumb as a doornail.

wpadmin:
Last minute moves.

Finally someone not from the North

[quote author=chatinent post=115068300]Sth wey dem dey do openly. E get armed force wey no dey collect bribe?

Army dey use gala seller collect bribe. Funnily, enough, all these happen in the south. These aboki soldiers no dey do am for north.

Police dey openly collect bribe.
Road safety, the same.
Custom same. Importers can relate. If you no pay, byebye to your hard-earned goods.
Navy same.
Airforce same.
NDLEA and EFCC na the worst. Na only people wey no fit pay bribe bi yahoo boys o.
MTN office, same.
Idiots wey dey register NIN same.
JAMB staff, another evil people.
Even common boys brigade dey beg for tips.
ShopRite security dey beg for tips.


Mistakenly enter the metropolis of your state, na so so so beg beg...and 90% are career beggars.

The only thing bi say armed forces dey beg with the barrels of their guns.

I no come know the difference between police armed robbers and agberos.

Why am I even surprise? Even Tinubu dey collect bribe from Lagos’ income. Extended to Ekiti and Osun.

The shocker? If you think anything will happen to him, you just thought wrongly. Nothing will happen. He has to give his oga some. His oga mah go give oga for top.

Have you noticed? All those police wey dey dey road dey collect bribe, their lives dey dey as dilapidated as police station buildings?[/quote

Sometimes I wonder how anybody can remain sane in that country when you consider what they have to put up with. For example, someone staying in Surulere and being paid 40K per month and working on the Island how one can expect that individual to survive for a whole month on that salary burgles my mind. That is less than $100 mind you. Jeezee

igbotormentor:
Peter Obi is not yet president, Igbo have started behaving like Fulani herdsmen, and you want other tribes to vote for you. foolish Yorubas see what will befall you of you make stupid mistakes, they are already saying Lagos is no man's land, very soon oyo Ogun osun ondo and Ekiti, there will no where to hide for Yorubas.

It a binary choice hopefully you know the meaning of binary. Igbo and Yoruba issues is about 30% whereas they agree on the other 70%. When it comes to the Hausa though it is a freaking 70% difference issue between Hausa and Yoruba.

GamalNasser:
What exactly did he loot?

If you have to ask that question you freaking part of the problem

Wickedfact:
There is freedom of speech but not freedom to talk nonsense.

how do you define nonsense?

Wickedfact:
If I open a news outlet and I write that I did an investigation and discovered that your father is an impotent gay and your mother is a Street prostitute, I hope you will keep up this energy.

Go to the court for redress but having police showing up and executing arrest without formal due process being followed now I guess that is par for the course in the country

OluwaChase:
Please Make it louder Abi. No arrest warrant Nothing Nothing just barge in like a Criminal

When you have Muslims as Country Attorney General, Head of Police, Head of the Military, and to top it off Head of Customs. Expecting normalcy and rule of law is a fallacy.

Freelane33:
Nigeria my country
Power belongs to whom it belongs to
Which is Almighty Allah

I will keep saying, That so call Muslim religion is a cult. Any religion that can convince 20 people to fly planes into a building with the promise of 10 virgins in some afterlife just lost me. Then they turn around and put their women in some beekeeper outfit. Will someone explain that to me?

tillaman:
People’s gazette had it coming though

How? Kindly explain. Freedom of the press should be paramount

Profmetoo:
Good morning guys

So I currently work with one of the top commercial banks and I was posted to one of their branches on the mainland very close to my place of residence. So I incur close to zero cost of transportation, no traffic issue, no stress. And the salary is 100k, no promotion in sight, career growth is uncertain and the role isn't really great for my CV. I'm a teller.


Last week I did an interview via zoom because of the nature of my work and I got another job, but on the island. It's a private equity firm and the pay is 150k. The cost of transportation for the month is about 20k. There's great career growth and opportunities for self development. However, I fear the stress of going to the island and back daily. Waking up as early as 4am sometimes and coming back home late.

Please advise me on which to choose. I have till Monday to decide.

Those working on the island and staying on the mainland, how do you cope?

Thank you.

Mods
Lalasticlala

Here is the deal. An old man gave me one good piece of advice that I still used today. Son, it ain't how much they pay that matters it is how much you come home wit home with that matters. Do your calculation then decide based on that

Agugbadin:
Really, now I know why some Nigerian men pick up gun and kill their wive.

Exactly I am not saying it is right but I do understand.

prince3009:
Oga, in the US and Europe, if your wife wakes up one morning and doesn't like your face, she will order you out of your own house you bought with your own money and if you do as much as argue about why you should leave the house and she calls the police, they will come and escort you out of the house with nothing but your suitcase of clothing and nothing will happen o!

If you try to fight her or do gragra...they will lock you up in jaíl!

Better tell him !!!!

MrBrownJay1:
bro, a prenup wouldnt help in this issue because the problem is not the wife, it is the YEYE MUMU that she calls her husband, that is the main problem here. what man in his right man would let a woman make him sleep outside of HIS OWN HOME?!?!? in what world? what kind of stupid shiiit is that?

Partner if you happen to have any kid under 18 trust me you sleeping outside that house until the court says otherwise. And if you put up and start coming out of the woodwork I guess the country cell is your bed for that night. Never pick a fight with your woman on any winter night especially if it is -20 degrees outside. in Chicago. Lawd have Mercy.

Dshocker:
That is the reason why most men don't like taking their wife aboard.

Especially if you enroll her into nursing or to study medicine, by the time she is through studying such course, then the chances of her being your wife is like 20%.

And it is her fellow colleagues that will brainwash her into believing that being single is the best and her husband has no right to question her decision.

Dear men; If you ever plan on relocating your wife aboard, make sure she signs a prenuptial agreement.

Screw prenup. Just make sure she has given birth to three kids for you. Now if any man shows up and still wants her with three kids by all means please take her. I am outta here!!!

Thonia69:
What if he's gay?

Look Partner your son being gay is the least of my worry. The damm Power Ball is $430m now if you happen to know the winning numbers then we can talk aiight

meobizy:
Old story.

I bet after 1 year he will realize that it would have been cheaper to keep her. Don't ask me how I know this

FreeStuffsNG:
Mrs Okporo Afi suru

Yes ooo Suru lo gba oooo

Mrscarter:
Eww

I just dey pray he is not from my state

Danmboss:
So this guys de fear soft wet puna and prefer, strong ass with hairy balls, imagine plowing your fellow nigga in the ass jeez .

Damm you just made me choke on my weed lol