₦airaland Forum

femarse:
the way u guys keep making noise about banks hoarding fx is alarming , and nothing short of knowledge gap

the banks can not hoard fx, they dont own it in the first place , u dont get how it works
scrapping BDC is the best decision CBN has made in recent times

To get your PTA/BTA, U submit your documentation which is then sent to the bank headoffice electronically , who then review and if requirements are met , sent to CBN who then disburse funds to the bank , that is how the process works for all banks, most times people complain of not getting it on time, thats because 1 too many applicants, 2 your details are not correctly filled and the guy reviewing just get tired and moved to others that dont have issues

BDC people are the ones that makes it looks like our life depends on dollars, it doesnt and shouldnt , even now if u take PTA and later cancel your flight, they know u are taking fx to sell to BDC, U will be blacklisted cos they now check flight of people taking PTA
NIGERIANS themselves are the ones sabotaging economic effort looking for personal profit rather than general well being of everyone

You have simply state the official process...
The Banks knows how they keep their activities off regulatory oversight...
As u have pros that hide illicit fund for politicians in off shore accounts...
They have experts too....
Even the Almighty CBN acknowledges the practice...
Lastly... CBN disburse to Banks....
Banks select branches to handle FX. sales with Head Office inclusive ...
They review documentation... they disbursed to clients.....
Banks FX Unit renders periodic report to CBN...
While CBN come for periodic audit...

https://guardian.ng/news/cbn-moves-to-end-round-tripping-in-banks-monitors-otc-forex-sales/

007s:
Nigerians can be so opinionated.

CBN ban sales of forex to BDCs because they've become conduit for fraud, money laundering, and also because of the arbitrage trading most of them engage in.
A BDC would get $20,000 at CBN rate of 410 naira and would sell in bulk to existing offtakers at around 490 naira, making almost N2,000,000 per week without breaking a sweat, while indirectly sending price of goods and inflation rate high.
Banning forex sales to BDC is a welcome development, CBN should only perfect this policy by increasing volume of forex available to Banks, such that forex easily accessible via banking platforms

And you think the Banks wont sell to BDC....
And make clean profit without stress...
Dats blood money for the Banks....
CBN is simply makin policies to favor d Banks...
Let every other users go to HELL...
Have you forgotten the $153 million dollars Fidelity Bank Saga....

Elsueno:
But how many people way dey those platform get millions of dollars?

Majority of people using them have less than $1k on average. The highest ones have around let's say $100k & they are really small in number.. So the issue of affecting the naira is not on dat side....One politician can steal the total amount in that finetech account & hide it abroad.

To me, it this action was taken to strengthen the naira, then it's a waste of time..They said same for crypto but things actually got worse for the naira after it

Dont mind them...
CBN should tell us how illicit funds stolen by politicians and Naija elites end up in offshore accounts..
Another unserious policy from the CBN..

Nigerialabalaba:
FG may not be popular with some decisions but on this one, CBN just caught the errand boys for the real economic bandits and saboteurs. Ds platforms are not only involved in illicit forex trade , they are conduits for money laundering & just hide under trading in foreign stocks. Some of d people backing these platforms are even former top CBN officials!
Be careful if anyone is selling you products to help you "edge against inflation " by buying US stocks. It's all a front!
CBN will expose more in coming days. CBN is on top of dia mata. Another set are d agroinvest 'fintech', dos ones are doing crypto! Dey have no farm anywia! Era of free & dirty money to dey use pepper hardworking upright folks don end o, my pple, NSE is the koko.

CBN with another hammer!
Throwin the baby out with the bathwater ....
Instead of fixing these fintech challenges.....
By raisin the level of disclosure of their source of FX on a regular basis....
Lets kill them with ban and freeze their accounts...
Typical crude & reactive way of handling issues by Naija regulatory bodies...
Folks are still tradin Crypto even with their ban...
CBN should understand that the world is a global village....
And foreign fintechs will continue to emerge .....
And will serve the Nigerian unemployed youths seekin for survival....
They should kontinue to kill startups fintech.
That's providin jobs for Nigerian masses
Jobs they could not create......

samsonadekoya12:
Thanks. Just checked the rate of dollar to Naira exchange in passfolio. 521 naira to dollar..Wow.

Wetin we go do now.....

samsonadekoya12:
Minimum deposit requirements for passfolio?

$0

[quote author=samsonadekoya12 post=104912610][/quote]Passfolio is registered with the..
FINRA and SIPC...
Dats a solid regulatory oversight..

IyaTola:
Try and withdraw and see if you can withdraw. Just wondering, why was Passfolio excluded from the CBN court issue?

Passfolio is not a Nigerian fintech...
Coy is based in the US...
And makes the app available in over 170 countries....
Dont think they source their FX need....
in Naija here.

Born2conquer:
It’s a IN and out things,
Nigerians convert the naira to Dollar and trade with the dollar and also convert the Dollar to naira once they make profit.

Is this not aiding the economy growth?

One of the major reasons ..
I dont use Naija Fintechs
for my foreign tradin transactions....
CBN will just wake up one day ...
And start freezin accts...
and placin ban up and down...

zionaigbokhan:
I tried buying stocks today from my Morgan account and was told my account is suspended. I have called Morgan and they assured me of getting back to me. Is anyone experienceing same thing?

Same thing here too ....

seyi360:
It has never been an easy feeling the times I had none to give Awkward and odd was the feeling ,to say the least. It should always be a thing of joy to be able to give cheerfully to the God who gave us all things. I love to always give to the Lord.

I gather my offering and tithe...
Once in a month...
Pay via e platform...
Dats all for the month...
No be everyday...
Person dey get money for hand.

Valueinvestor:
Airtel may get to 900 in the medium term

Absolutely correct ! Bro
The MM dey try..
No be retail holders dey push am....
Coy pushin up as FCF powerhouse...

afroxyz:
How much has NIO returned this year?

-10.05%

seyisanya:
The stock lost 27.59% in just one trading day! Never follow the hype, buy a fundamentally sound stock at a discount entry price and sleep well at night

I recently added $BABA, $TCEHY, $PDD and $JD to my portfolio at just a few cents above their 52-week low. Yes, they're Chinese stocks, and I'm aware of what I've gone into. I'm not even going to look at the price charts until 5 to 10 years from now!

It is difficult to win a war with PBC and President Jinping on the other side....
Regulatory concerns will continue to overshadow fundamentals....
Which will limit institutional buyers....
Even in the next 10 years...
D only Chinese stock in my portfolio is NIO....
Cos it is backed up by the Chinese Govt ....

Willie2015:
Pls where can i purchase PICs storage bag ?

Tks a Million
Do you have any contact person
Dats a long road from my axis....

Teetee777:
1. Yes
2. Yes, place on elevated platform
3. You can store it anywhere but follows the rules;

A. Ensure that the grains is completely dry. Drying b4 storage may help to reduce the initial rate of infestation

B. Take the 3 PICS bag apart and check the 2 inner bags for holes and tears.

C. Make sure there are no air pockets at the bottom of the bag,

D. Make sure no grains gets in between the bag

E. Keep the bags in a safe and dry place, keep it from rodents because it may make hole in the bag

Pls where can i purchase PICs storage bag ?

yazga:
The thing just tire me

Patience is key in this biz...

Moferere:
This Kyari case has once again proven that everybody has a price.
The difference is in the amount.

Who go believe am sey our super cop too dey collect ọjà?

[b]“Everyone has a price, the important thing is to find out what it is.”[/b]

Thats just the hard fact by Pablo Escobar

https://doclib.ngxgroup.com/Financial_NewsDocs/33896_MTN_NIGERIA_COMMUNICATIONS_PLC%20MTN_NIGERIA_DIVIDEND_IN.pdf

MTN
Int Div of N4.55 ...
Up by 30 percent from last int div... that's generous
Results also lookin good..
Though with lower Free Cash Flow increase...
When compare with Airtel result...
Hope it can cross the N200 mark....
just like Total ....
after the interim div of N4..
Dis: Hold long position in both MTN & Airtel

Godisfaithful:
Updates:

$1 to Naira presently is N530/535
Zenith bank share still trading in the same price range since May while exchange rates skyrocketed. Time will tell. Time for people to hedge against what’s coming. May God heal our land. Peace

Golden Advice....
Investment & portfolio diversification ....
To foreign stocks, Bonds. ETFs .....
is a wise move in this volatile period...

https://doclib.ngxgroup.com/Financial_NewsDocs/33778_AIRTEL_AFRICA_PLC%201ST_QUARTER_RESULTS_FOR_PERIOD_ENDED.pdf

Airtel results lookin good...

Rozcol:
Be forming redpill instead of you to go and apologize to your wife,take fully charge of your responsibilities and do all you can to save your home.Besides maybe you have neglect your body and you are not attractive to her again which warrant some of her behaviors (that's if there's truth in all you typed), big tommy,over weight,careless dressing, not taking her out like you do during courtship, no more pamperings,weakness in the bedroom,cheating etc try and fix all these things up and she will never disobey you.Do all you can to be attractive to your woman, a good man keeps his home and not destroy it.

Tks for this word of wisdom...
Op need to have lots of patience and also be prayerful....
It takes patience to live with a woman under the same roof....

Patience and the passage of time do more than strength and fury. Jean de La Fontaine

Lexusgs430:
I am holding on and tight........ What goes down, must eventually go up, with patience & perseverance..........

Capital Preservation first...
And profit later...

seyisanya:
Most Chinese stocks are tumbling at the moment due to regulatory risks. However, if you're for the long term, keep an eye on $BABA!

Chinese stock regulatory problem aint...
Goin away so soon...
My portfolio is bleedin from their axis...
Had to reduce my exposure...
And move the cash to...
MSFT, SQ & APPLE....

ukay2:
Let me know at N750-850 please

Definitely a tough call to reach ...
Ur target price this year...
Interim dividend of N25 + is already at the corner...

ojeysky:
Nestle starting at full offer

Nestle had been on full offer ...
Since it moved to N1540...
Buyers not interested at dat price...
We wait ... till it retraces back to N1200 -N1300 +

Princkez:
ARDOVA on full bid!!

Likely anticipation of good results...
Cos Total Q2 result was impressive
With int div of N4...
Lets see how far it can go...

Nestle up to N1540...
At the last minute...
Uhmmm

spinna:
yes insecurity is an important issue.. thats why the company invested heavily in the sw i think..it shouldnt stop one from farming.. with good security measures and Gods grace.. people are out there doing big things in farming

Do they have milk collection centre in Oyo town ?
I know they have in Iseyin, Saki, Alaga, Maya & Fashola...

RuudVanNisteroy:
To find responsible girl hard. I even tried Church girl and she turned out to be worse than some of the pagans I dated. . I fear women no lie, my regret is not finding someone in secondary school or during my university years.

There are some decisions....
Dat you need divine guidance...

Submit yourself to prayer...
God's ears are attentive to prayer....
God will answer !