UDOKABESTLUV:


Source: https://tribuneonlineng.com/cbn-mandates-bdcs-to-sell-us-dollars-at-n1314-01-us/

Can someone please educate me, will interventionist supply side policies curtail the forces of free market economy, so if i approach a BDC operator and require dollar urgently and he says he's sold out his daily limit of $20 k but can connect me to 'somebody else' who has dollars, albeit at a rate of $1 to #1900, will i not buy from the 'someone else' considering the urgency of my situation, even though i am paying a higher rate ? Let's not forget BDC operators are in the business to maximize profit just like any other business.
I'm not an economist, so I may be wrong and hoping to hear the workability of this policy.

Mcslize:
The government know what to do. It's Foolishness to be fighting bureau de change operators. That won't help the naira.

What will help naira to appreciate is the government should create enabling environment for small and medium size businesses to flourish.

The government should focus on production and export order than consumption. Those exported goods should be paid for with naira and not dollar.


Produce produce produce produce. That's the only solution for naira to appreciate. Order than that, they are just wasting their time trust me.

I concur, the operative word is enabling environment which include stable power supply and checkmating security challenges.

datola:
We need real appreciation to N700 or N800 to a Dollar not geometrical depreciation and arithmetical appreciation kind of.

.. Google the correlation between inflation and currency depreciation them you will understand that it is not possible.

EmiloCorn:
Shebi I keep saying it that my oga is working.

Don't worry, very soon dollar will ne down to N500 and below. Just 7 years more and we will finally get there.

On his mandate, I stand

..... how is this possible when inflation is running at double digits

LegendHero:
A Nigerian has been arrested in India by the anti-narcotic cell (ANC) of Goa police for allegedly possessing narcotics substances worth over Rs 74 lakh (approximately N140 million).

According to PI (ANC) Sajith Pillai, the accused identified as Innocent Okezuonu Anaemem, 56, presently residing in Arpora was involved in the national highway blockade case at Porvorim, Times of India reports.

Police found in his possession a staggering 480g of cocaine worth Rs 72 lakh, 15g of Ecstasy powder worth Rs 1.5 lakh, besides 250g of charas worth Rs 1.2 lakh.

After receiving reliable and specific information, the AMC kept a watch on the said Nigerian for a week and closely monitored his movements.

Accordingly, they set a trap and seized the narcotics from him. Police have also attached some cash and a scooter used by the Nigerian for the drug trade.

The accused has three cases registered in Goa against him and the same are pending trial before the courts. In 2013, the accused was arrested in the infamous national highway blockade case at ‘O Coqueiro’ junction at Porvorim.

Police said the accused was arrested for overstaying without legal documents.

He was lodged at a detention centre in Mapusa. The third case was registered against him for assaulting an employee at the detention centre.

This was the second raid conducted by the cell in February 2024 and the fourth of the year.

Source: https://saharareporters.com/2024/02/26/nigerian-3-pending-court-cases-arrested-india-possessing-cocaine-other-drugs-worth

CC: mynd44

That name sounds familiar

Tap0lane:
Like Igbos always ask when project such as this are commissioned in other part if Nigeria did he build it with his personal money though we know this is even a private project but one must ask.

Interpretation please

Zonefree:

Nigerian police gave him a painful death.

you kill by the AK, you die by the AK.

Cheeryfeet:
you people are missing the point. That's why our justice system is in shamble. What the man did can not be justified. But why collect his money when you knew you wouldn't go. You collect money go make hair, where you carry the new hair go?

....yes, but does not deserve what she got

Sucolee:
She no wan enter bathroom fresh up by the end of the night.by the way,how much is 7k wey u wan kill person

...7k is £3.50p

Jennyclay:
Oh no!! Not again .

God knows I have absolutely nothing to do with a broke man. If you’re a broke man and you approach me, the way I will talk to you, you will regret the day your useless father ever gave birth to you .

Just look at what this broke animal did to a lady and her mother because of 7k Biko, the court should kindly sentence the broke animal to death ASAP!! He’s a threat to women in the society

Wicked and evil men!!

I don't blame you my sister.... just because of 7k

Morbeta11:
Assumption is the mother of all fuckups....

......Under Siege 2

Racoon:
What is the usefulness of this committee to the common citizen suffering the untold affliction of the useless government paying them for not making any meaningful impact?

..... the thing weak me, inflation is still under 30% and the naira is still on a free fall

fergie001:


Professor Joy Ngozi Ezeilo OON


Ezeilo is a Nigerian professor of Public Law and a six-year United Nations Special Rapporteur on Trafficking persons in Africa. She is a former Commissioner for Gender and Social Development, Enugu State, a SAN and an activist. She is Dean Emeritus, Faculty of Law UNN and the founder of the Women Aid Collective (WACOL). She was named one of the BBC 100 Women in 2022

Madam can't you construct a borehole and why not invest in solar energy rather than wasting money on petrol.

matify83:
It's splendid!

I use a 3.5kva 12v kartel inverter and 4 220AH tubular batteries I connected in parallel to make 880AH.

I power virtually every thing in the house including an lg inverter AC for most of the afternoons , an lg inverter fridge/freezer and a bona solar chest freezer.

I've been fully off grid for going to 6 years by May and I don't have any regrets at all.

The installation was done DIY with little touch by my electrician.

please I need advice on how to get off the grid also please

Thissystem:
Hhmm, that kind Househelp

But, who dey keep that kind big money at home?? That’s over N76M in today’s dollar to Naira exchange

And even carelessly kept where a hungry, eagle-eyed and economically messed-up househelp can see and touch. lol, not funny

the thing weak me, very careless employer

Omoawoke:
That’s the best way to die, especially when you have completed your life cycle.

... the thing weak me, a painless and relaxed way to go.

Catapault:


What an ignorant thing to type.

What do they teach in British law schools that is different from the same Common Law system you inherited from them?

Do Nigerian graduates not travel and excel in those places?

Nigerian standards are even higher, from my experience.

.... same standards that allow judges to be compromised with money.

Catapault:


What an ignorant thing to type.

What do they teach in British law schools that is different from the same Common Law system you inherited from them?

Do Nigerian graduates not travel and excel in those places?

Nigerian standards are even higher, from my experience.

....they teach integrity, honesty, and students do not bribe lecturers with sex or money to pass exams meaning knowledge is acquired on merit, why was it possible to convict ibori in the UK and he was acquitted in Asaba, was the evidence proffered against him different in the UK ?

Genius100:


Look at what happened in the last few years when for example, official rate was N450 and parallel rate was N800. Nigeria essentially restricted the people that could get the dollar at N450. What that means is that there is a thriving black market where the rates are much higher. First, International airlines that sold tickets in Naira and wanted to convert their money to Dollars to take it back to their country could not do so because CBN did not have enough dollars to give them. Nigeria became the number 1 country where airlines had their money stuck. So this puts the country in a situation where foreign entities would not want to invest in the country.

Now think about Diasporan remittances which is supposed to be over $20 billion a year. This money will never come through the official changes because no one will change dollars for N450 when parallel rate is N800. So consequently, the CBN reserves became very low. With low forex reserves, the Country was in a position where we almost could not pay our foreign debt back which constitutes is a death sentence to the economy, if we default.

Also, the Diasporan remittances never made it into the country. It was being held by certain Fintech and their partner banks in Nigeria. They hoarded it which made dollars more scarce and led to Naira continuing to lose value. They were seeing crazy gains while the rest of the country suffered.

Compare that to when you float. The official rates and parallel rates are largely harmonized. Now Diasporans can send money through officially licensed IMTOs. These IMTOs will give the CBN a certain percentage of the dollars- let's say 50% - That amounts to about $10 billion.

Second, the people that were speculating and hoarding millions of dollars for gains, now can no longer make arbitrage money because there is no longer substantial difference in rates between official and parallel. Those dollars can now go to productive activity. Last, foreign companies now know they can get their money in and out of the country which will spur investments.

Ultimately, floating allows CBN to grow its reserves, which allows Nigeria to service debts and also procure additional low interest debt that can be used for the desperately needed capital investments in the country.

well articulated, are you an economist ?

Pussyisgud:
In this tinubu time? It's fucking gone bro just forget it and go and get new phone.
The person wey pick am now go just sell am use am buy quarter bag of rice and make better stew with plenty fish and meat for house.

.... the weak me, phone wey don reach computer village long time ago.

PROUDIGBO:


Probably…..on a bilateral/equal-partner basis! But what you can take to the bank is the fact that our judges will not be allowed anywhere near the British legal systems bench!

..... same judges that decided that Tinubu is the president from a rigged election.

Kc3000:
Can Nigerian lawyers equally practice in the same capacity in the UK? Just asking, because our folks in government sabi mumu.

the question you should be asking is Nigeria qualifications on the same par with the United Kingdom?

Pinicop:
Failure rewarding other failures for a failed mission.

Misplaced priority.

nonsense talk, we are talking about a team that have won the cup three times, finalist four times and semi finalist 6 times, give credit where it is due please.

opera1:
This is one of the reason we present average players on any international competition because for you to be invited, it's a big cash out already. Some of these players didn't even touch the ball at all but they will be rewarded same as those who played.

that is the way it's done all over the world, you gift the whole squad not just those that played.

Obviouslyblunt:
Gifting millionaires houses and lands, that’s outside what they’ll be paid.

how ee consign you, you dey jealous. Oya you get two legs go play football na.

Salewa97:
Omo 117 death per day from gun violence?

Yet America give travel advisory to other countries and no country thought of reciprocating the travel advisory based on the number of daily random death from gun violence?

if we dey keep statistics ours will be almost tenfold, armed robbery killings, kidnapping killings, domestic violence etc.

Hx1x:
Just got this email from WorldRemit.

Seems CBN has quietly re-introduced their policy where people abroad can no longer send foriegn currency directly to folks in Nigeria. Folks in Nigeria now can only receive the naira equivalent of the money sent.

I've checked Western Union and seems to be the same as well. Moneygram still allows dollars to be sent, but can only be picked up. Can't send to a dorm account any more.

I have checked and haven't seen any news on this.

eh hen, weytin you wan take dollars for naija?

Bobloco:
Another trial and error policy from the patch patch CV CBN governor

....ok what do you suggest

nairavsdollars:

https://thenationonlineng.net/ojougboh-was-a-courageous-outspoken-personality-says-ibori/

.... the place where he wrote that they both advanced the interest of Delta state got me cracking, this is the same Man that has a diploma in looting.

Truths9ja:


https://arise.tv/hadi-sirikas-brother-abubakar-arrested-by-efcc-over-n8bn-aviation-contract-probe

....So there's water ministry in Nigeria any everyone is using borehole

Tradepunter2:
People still dy born for this economy The two kids I have are perfect.

....my brother the thing weak me, as if three is not enough? In these hard times

BigShishi:


https://www.youtube.com/watch?v=cXq9KQQXg1Q

Baby announcement. My three daughters always wanted another sibling and for years we told them it wasn't going to happen. When mummy eventually got pregnant, we kept it a secret from them for almost 4 months.. Then we finally decided to go ahead with the baby announcement. Fast forward to October 2023 our prince was born..

you get three already then decided to have a forth, you Check weather you and hubby can cope financially?