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Jobs/Vacancies › Re: How Do Freelancers Pay Tax? by WithX(m): 8:23pm On Dec 16, 2023
anu3:
Hello, please could anyone with experience tell me how to full my duties to the government in terms of tax. I've never done it before.

And would I calculate it in dollars or naira; if dollars, will it be in official rate or parallel market rate.

If you know what's right, please let me know.

Thanks.
Anu, you indeed are a true patriot.
Pls do not be discouraged, follow your heart and be true to yourself.
I must say i am inspired by you and i will also follow suit.

Many have already proffer guide on what you need to do and how to get it done.

The only thing i will like to add is once you calculate what is due (you can use any of the tac calculator already posted), depending on your state Inland revenue services (as most do not have online payment option), get the service account details and the collecting bank, then proceed to pay to the bank (this will eliminate your fear of them cheating you). Afterwards take the teller to the service office, they will issue you an official receipt.

Again thank you for the enlightment and wanting to do the right thing.
European Football (EPL, UEFA, La Liga) › Re: Manchester United Top 20 WORST Signings According To Fourfourtwo: by WithX(m): 4:51pm On Dec 16, 2023
tachia406:
Most of the players were and are not given enough time to prove themselves.
1. Zaha
2. Manucho
3. Van De Beek etc

But Maguire, Hargreaves, Di Maria no suppose dey there for sure
Abi now. Even Pogba, only that he was overpriced
European Football (EPL, UEFA, La Liga) › Re: Manchester United Top 20 WORST Signings According To Fourfourtwo: by WithX(m): 4:49pm On Dec 16, 2023
Enemyofpeace:
- Bebe
2 -
Paul Pogba

3 - Eric Djemba-Djemba
4 - Ralph Milne
5 - Donny van de Beek
6 - Alexis Sanchez
7 -
Harry Maguire
[color=#006600][/color]
8 - Massimo Taibi
9 - Jadon Sancho
10 - Angel Di Maria
11 - Radamel Falcao
12 - Morgan Schneiderlin
13 - Kleberson
14 - Diego Forlan
15 - Owen Hargreaves
16 - Henrikh Mkhitaryan
17 - Wilfried Zaha
18 - Manucho
19 - Karel Poborsky
20 - Garry Birtles

Thoughts 🤔🤔
Politics › Re: Red Flag: The Ominous Implications Of Shoprite Closure In Kano by WithX(m): 3:42pm On Dec 15, 2023
Wallade:
When the pioneer investors of Shoprite left Nigeria and sold/transferred it to another investor.

Shoprite started offering even more ridiculous prices for majority of their goods. Just a few (soft drinks and bottle water) that are still priced below general market prices.

We also see that at their outlets in Abuja and Lagos. Infact they should change their slogan (Why Pay More) to something else.

I strongly don't think the exit of shoprite from Kano implies that the Economy of Kano is terrible.
Exactly. their patronage they enjoyed then was largely due to their low price strategy they adopted.
Immediately they deviated, patronage dropped, plus the traffic at checkout.
Politics › Re: Red Flag: The Ominous Implications Of Shoprite Closure In Kano by WithX(m): 3:31pm On Dec 15, 2023
SSFeedsNigeria:
ShopRite is a private sector investment, not charity organization.
Likewise other business still surviving the same kano. No one is in business for charity.

SSFeedsNigeria:
They were forced to increase prices because Tinubu removed subsidy and they suddenly realized they can afford expensive diesel on turnover marginal profits, worse still, worsening poverty in Kano made it impossible for them to maintain volume sales. With much fewer customers, high diesel costs and high logistic costs of moving their goods from South to North, they found themselves operating at a loss. So, they did what every reasonable investor will do and that is to close shop and move elsewhere.
But other businesses such as Sahad stores are also affected by the bolded yet they are still waxing stronger and opening new stores around Kano. Even after being faced with same economic realities others were able to still sell at reasonable price less or close to general market price. A new store is even opening right opposite where shoprite is located which incidentally is besides Sahad Store, that should tell you the business is thriving.

SSFeedsNigeria:
The fact that ShopRite can't survive in Kano, North's most viable city is an ominous sign. Other investors will also flee Kano and only Musa kiosks and roadside shops will remain.
There are still thousands of investors thriving on the large market size opportunity presented to them, as i said earlier, its just about the business strategy. Knowing what works for the local market and adopting same to survive.

SSFeedsNigeria:
North's economy is dying and that's the painful truth.
If you had say purchasing power is low going by current economics realities i will agree with you 100% but North economy dying, NO
Politics › Re: Red Flag: The Ominous Implications Of Shoprite Closure In Kano by WithX(m): 1:25pm On Dec 15, 2023
Svoboda:
Thank you. Big shopping malls arent a northern thing. The northerner would snub a shoprite for sahad. I was surprised that shoprite carried out that ill advised move of rolling out in kano in the first place. Kano people in particular and northerners in general dont care about posh ambient malls that are dotted with lewdly dressed, young girls chewing gums and clutching iphones. To them culture comes first.
Kano Shoprite branch got it wrong when they start selling their goods above market price (that is a red flag). No matter how posh your shop is many rational buyer talk more of the north will prefer buying where the good i even one naira less. With many supermarkets springing up everywhere in Kano now, its fight of the survivals
Some two years back the place is always overcrowded because customers get some of their goods cheaper than the market price (surprisingly, the difference in price may just be fie naira or a little below that).
I remembered taking the trouble to go to the store anytime i want to stock up on drinks because then their drinks are always around ten naira to fie naira lesser than the market price. Then you will see drink retailers storm there with pickups on daily basis. I can no longer take that trouble if i can get the drinks at a price cheaper close to me.

I believe their change in business strategy have a large part to play.
Politics › Re: I Have Lived In A 90% Muslim Country And They Do Not Impound Alchoholic Drinks by WithX(m): 2:46pm On Dec 12, 2023
FreeStuffsNG:
It's not ridiculous. Stop denigrating the religious belief of others. Respect their religious beliefs or leave their land.

While you are being critical of Kano, why don't you go to Afghanistan and smuggle beer into their country then see the difference between Kano's Islamic belief and that of the Taliban.Smh
I don't know why people are sentimental about this.

is the situation any different from any of these scenario which is in play even in developed countries
1. You have freedom to drink but you must be above a certain age before you can
2. You have freedom to smoke but you can not smoke in a smoke free zone.
Politics › Re: I Have Lived In A 90% Muslim Country And They Do Not Impound Alchoholic Drinks by WithX(m): 2:41pm On Dec 12, 2023
Bliss52:
cool



Prohibition of alcohol is strictly for Muslims, In UAE and Saudi, Alcohol is sold to non Muslim and expatriates

Qatar during world cup had some licensed location that sold beer

A total ban like that of Kano state is ridiculous
You have a valid point, but you only make conclusion without trying to know the fact.
Yes its heard that Hisba do confiscate alcohol, but what you don't know is Alcohol is not totally banned in Kano just like other northern states. The issue is alcohol sale and consumption is banned within Kano metropolis but alcohol is openly sold and consumed in some areas. Go to Sabon gari area, you can drink yourself to stupor. Even within the metropolis, bars in officers mess sell alcohol.
Politics › Re: Reno Correct A Fan On The False Statement About Nigerian Movie Industry by WithX(m): 10:35am On Nov 28, 2023
Raf4:
Cracked head, shey you know that you igbos travel for economic survival? Abi how will about 30million of you confined in a 5 acres of barren land called SE survive without migrating to other people's land to seek economic asylum?
Sir, sorry to say but you do not need to bring in derogatory word or tribal slur.
The thread has been matured enough an we all have been enjoying the back and forth from @igwebuike01 and @LegendHero which so far has been based on facts, sentiments and whatnots but devoid of tribal slur and derogatory statements which is now the trend on this forum.

Pls sir lets maintain decorum and let us learn to make our opinion known without instigating others. You know our comment are more beautiful and makes more sense if they are devoid of tribal slurs. one love bro cool.

@igwebuike01 and @LegendHero carry go my ogas, nomatter who found what and who gross in more, what matter is Nigeria to the world.
Phones › Re: I Bought This Powerbank For 1.2 Million Naira PHOTOS by WithX(m):
Joelaking:
Chief. Do you mind sharing your whatsapp number?
ok
Phones › Re: I Bought This Powerbank For 1.2 Million Naira PHOTOS by WithX(m): 5:30pm On Nov 17, 2023
AfahaAbia:
I prefer my generator
When you taste solar system, you will reconsider.

Its capital intensive i agree but it worth it on the long run
Phones › Re: I Bought This Powerbank For 1.2 Million Naira PHOTOS by WithX(m): 5:28pm On Nov 17, 2023
hurryup123:
Please I need a break down quotation of an inverter that will power 2 Celine fans.
3 bulbs.
55 inches smart tv/Dstv Decoder
With the best of materials

See what someone sent to me.
why is he adding up the cost of both charge controller?,
You only need one either the PWN (which is cheaper) or the MPPT. However that 60amp he quoted for the MPPT is too large for your system except you plan to upgrade the system in future, 30amps will do just fine.

Disclaimer, I am not a solar installer just a DIY enthusiast and my system (2.5kva) which i set up two years ago is still up and running giving 24/7 power supply.

With the system I use my deep freezer (300ltrs) and washing machine during the day only, casually use my iron, Tv (LED) up until 11pm and three bulbs and two fans till day break.

The unit comprise of

2* 220 amp 12v batteries
3* 200watt Panel (I added a fairly used 250watt paned just last month)
2.5kva sine wave inverter (not sachet)
30amp MPPT charge controller

All including wires, screw and tapes (excluding the panel i added last month) cost me approximately 560k. No installation cost as it was a DIY from start to finish
Jobs/Vacancies › Re: From USA, is It Real Or Fake (photos) by WithX(m): 10:15am On Oct 20, 2023
kevoh:
Yes, same Geegpay will do it. If it's a family member, tell the person to ask around in the UK, there are apps that can do this.
Thanks
Jobs/Vacancies › Re: From USA, is It Real Or Fake (photos) by WithX(m): 1:05pm On Oct 18, 2023
kevoh:
You and your brother need a form of insurance payment thats he will not work for nothing like an escrow. Also, open a virtual US account with Geegpay, they can send his money to the account(if the job is legit) and you simply send the naira equivalent to your Nigerian bank account on the same Geegpay within the same day.
Pls is there any app one can use to receive UK pounds which can also allow converting to Naira
Education › Re: Mathematics Guru's In The House Pls Help With This?? by WithX(m): 1:37pm On Oct 07, 2023
11. 20 - 8 = 12
12. 8 + 6 = 14
13. 4 + 14 = 18
14. 3 + 7 = 10
Technology Market › Re: Get The Airtel Smart Box, For Absolutely Free by WithX(m): 3:02pm On Jul 29, 2023
richforever123:
I have tried this there is no 10gb data daily, when my Data was exhausted, I never got any 10gb daily, I called customer care multiple times and they said they will look into it which never happened, it's a marketing scam
Come to think of it if this is really true, why wouldn't I exhaust my main 1TB in a week or less and start enjoying 10gb/day (throttled or not), that will give me a total of over 4TB @ 100k.
But the Airtel that i know are way smarter than that. They will even cheat you on the main data you paid for ( case is their everyday on data where they will deliberately skip giving you the daily allowance if they know you still have some stock up and wouldn't notice).

Even with all things being equal, the way they zap data looks magical to me because it's always unexplainable no matter how hard you try to justify your usage.

@Shopnig24 hope you are not unintentionally falling for airtel sweet talk o.
Education › Re: Google Vs Chatgpt. Which Do You Prefer Using? by WithX(m): 11:17am On Jul 22, 2023
localbreed:
Chat GPT and google don't the same thing. Chat GPT will give you a personalize and plagiarism free answer to any topic you seek.

Google on the other hands is a search engine and does not give personalize answers
.
Are you sure of the bolded undecided
Abeg be careful when using it for assignments or article o
Education › Re: Google Vs Chatgpt. Which Do You Prefer Using? by WithX(m): 11:15am On Jul 22, 2023
falcon01:
When you use Google to seek for answers, you are going to use your sense or experience to determine what is right or you could just follow a Humans experience or perspective you find on the Web page. ChatGPT is a Tool of destruction, I've testesd it and I believe the only thing it's good for is writing Application letters, Poems, birthday messages and other minimal stuffs. Never ever ask it a serious or important question. ChatGPT will never tell you that men and women are not thesame in terms of sport even if you give it data showing men having a high performance, chatGPT will never tell you something is Natural even though there's proof of it been Natural, chatGPT will always want you to accept nonsense that you don't agree with, forcing you to follow an ideology that goes against your own claiming it's nutral. Chat GPT can't even solve maths if you ask I 1+1 and it says 2 then you say the answer is 5 it will apologise and say you are Correct and find a way to recalculate 1+1 that it will become 5, chatGPT claims it has no Opinions or ideology, it claims its nutral but inbreality if follows the whole woke American Lifestyle that the developers build, its Alhorithm is built on Wokeness and political Correctness, if you bombard it with questions it will say it cant continue with the conversation, when i find a way to point out flaw in its logical or make it say somethig the programmers didnt design, it will turn red and be giving errors or misbehaving and the moderators will start deleting the replies or kick me out of the session. Ahh!! If I keep talking it will sound as If I have beef with chatGPT.
Google is superior, it will give you Raw unfiltered answer and you'll use your sense to determine what is right or you can try Bing or duck duck Go, duck duck Go is the most unfiltered search engine I've seen it will give you results Google can't show you.
You got me cracking at the bolded, I don't know when I start laughing out loud. You don see that bot of a thing finish. A bot will always be a bot.
Politics › Re: Southeast Voting Pattern Since 1999 (picture) by WithX(m): 2:15pm On Jun 07, 2023
Make we look at it again, but this time with our cool

Penguin2:
look at how the Southeast has always voted since 1999.

In 1999, the Southeast voted PDP Obasanjo only.
In 2003, the Southeast voted PDP Obasanjo only again.
In 2007, the Southeast voted PDP Yaradua only.
In 2011, the Southeast voted PDP Jonathan only.
In 2015, the Southeast voted PDP Jonathan only again.
In 2019, the Southeast voted PDP Atiku only.
And then, in 2023, the Southeast voted PDPLite Peter Obi only.

From the above, you can clearly see that over the years, the votes have been for PDP.
The change in party pattern was only at the last minute. Or what could have changed the loved for Atiku in just less than 4 years undecided


The Southeast voted for PDP
Politics › Re: Gembu In Sarduana Lga,taraba State (pictures) by WithX(m): 3:34pm On Apr 09, 2023
JASONjnr:
Snakes go full here well well....
Iroically snake no come too plenty there reach Karin-lamido another local government in Taraba.
Politics › Re: Gembu In Sarduana Lga,taraba State (pictures) by WithX(m): 3:31pm On Apr 09, 2023
endy69:
My second home. I served in 20 Model Battalion Serti Baruwa Gashaka very close to Gembu. The gembu ppl are nice and friendly too. We go go gembu no go wan cum back
Its 20 Mecanized Batallion bro.
And I like how you gave gashaka its befitting title, the only town with three unique name " Serti Baruwa Gashaka". In fact 2010 in Gashaka remain memorable and my two visits to Gembu still remain unforgettable. The only place you got to drink cold water without having a refrigerator. Plus the people are very hospitable still had contact with some of them.

If only our government can harness the potential of that serene environment together with that of Gashaka Gumti National Park, Taraba state will be a heaven for tourists.
Politics › Re: INEC Declares Obi Winner In Plateau by WithX(m): 10:30am On Feb 28, 2023
nairalee:
Why e be say state wey APC or PDP win you go see say Peter Obi get small vote

But Any state wey My Peter Obi win you go see say APC and PDP go get many vote


This election result don tire me abeg
Hmmm I get your point sir, just like it happened in Anambra and other SE states ko.
Crime › Re: Breaking News: OBJ Blocked 100 Trucks Containers Carrying Nearly 1.5M Chadian by WithX(m): 3:19pm On Feb 24, 2023
That is incredible shocked
What is the population of Chad
So about 9% of Chadian can be bundled into 100 truck
and which kind truck fit accommodate about 15000 people at a go
Plus how close is Ota to Kaduna that Baba security come override custom offices on duty.

Wonder Lamba dey say shall never end grin
Politics › Re: Price Of Kerosene Increases To Over ₦800/Litre by WithX(m): 4:12pm On Aug 03, 2022
KEROSINE @ ₦800/ltr
Cooking Gas @ ₦

800/kg

Petrol @ ₦250/ltr


Are you thinking what am thinking shocked huh huh

Isn't it becoming economical to cook with petrol laydisundecided


but wait oh, this seems like a good business opportunity, na to go do research come publish a book on "How to cook with petrol" grin
Politics › Re: Lets Check Who's Right Between Peter Obi And Fashola!!!! by WithX(m): 3:42pm On Jul 03, 2022
mrvitalis:
This argument was about infrastructure being a driver of the economy as compared to investing in the people ...my analysis was supporting the people have nore potential to impact the economy more on the long run

Let me take your argument now

Really ? Are you a rice farmer cos I am , CBN should have no business giving out loans that's y policies like this keep failing over and over again

If you have 250 billion to loan to rice farming at say 5% interest , give this money to banks , commercial banks as loan at 2% interest with the condition that only rice farmers should benefit from that loan ...watch banks do their magic
You are very correct.
The intervention given out by CBN was grossly abused. some who are not farmers were able to get the grants and may go ahead to marry more wives and build houses with the money. That shows why our local rice sells almost as the same price as foreign rice.

The huge intervention would have been properly managed if it was done through commercial banks as you rightly suggested and we would all have been feeling the effect by now. I wonder how our policy makers things.

My pain is that most of the local farmers who are legit were not able to access the grants.
Politics › Re: Lets Check Who's Right Between Peter Obi And Fashola!!!! by WithX(m): 3:25pm On Jul 03, 2022
mrvitalis:
Fashola is myopic in his reasoning .. and the job or economic boom is only but temporary let's check it

350 billion was used to build second Niger bridge ...how many people was employed permanently by that contract I can boldly tell you not more than 200 , contract staff not more than 10,000

If you gave 1 billion each to manufacturer in that area that focus on import substitution or exportable products ...you would have 350 multi billion factories

Let's take a garment factory for exam ..a 1 billion Naira garment factory can easily ... easily employ 2000 permanently and pay them over 80k per month ...their tax would be 12k say worse case 8k ...that's 16 million revenue from that business alone add profit tax you have around 50 million guaranteed revenue for government ...say you have around 20 garment factory funded and say 15 survive that's 750 million revenue guaranteed and 30,000 people permanently employed and reducing pressure on dollar demand for import

330 billion left

1 billion can build you four 50,000 capacity poultry farm ...you can look for the biggest poultry farmers and invest 1 billion each for 50 people ...or you can ask smaller farmers to form cooperatives ...do you know the effect this would have on our food security ? That's 50 billion ..this can create 2000 permanent jobs


We can do the same for fish farmers ...say 50 billion and create 3000 permanent jobs

Buying fishing trawlers for $1 million dollars and giving them to local fishermen would create employment ...50 billion can buy minimum of 75 trawlers...each can employ 15 people ...that's over a thousand people permanently ...

This is just less than half of that money used for that bridge ..half ooh ...

Doing the above n building bridge which would grow the economy more ?
You made some very valid submission, however,

mrvitalis:
Fashola is myopic in his reasoning .. and the job or economic boom is only but temporary let's check it
You do not need the bolded. I wonder why it has become so difficult make a point without using inappropriate words.



mrvitalis:
350 billion was used to build second Niger bridge ...how many people was employed permanently by that contract I can boldly tell you not more than 200 , contract staff not more than 10,000
You are very correct going by the antecedent of our politicians where only a fraction of the contract sum is actually meant for the project, a larger percentage are going into private pockets. Or where else will most of them find the money to buy a 100million nomination form.

However, apart for the workers that will be directly employed, any project do have a multiplier effect (Externality), many suppliers will be contacted, food vendors, sub contractors and many more will benefit from the construction. This goes down the value chain and the money circulates.

mrvitalis:
If you gave 1 billion each to manufacturer in that area that focus on import substitution or exportable products ...you would have 350 multi billion factories

Let's take a garment factory for exam ..a 1 billion Naira garment factory can easily ... easily employ 2000 permanently and pay them over 80k per month ...their tax would be 12k say worse case 8k ...that's 16 million revenue from that business alone add profit tax you have around 50 million guaranteed revenue for government ...say you have around 20 garment factory funded and say 15 survive that's 750 million revenue guaranteed and 30,000 people permanently employed and reducing pressure on dollar demand for import

330 billion left

1 billion can build you four 50,000 capacity poultry farm ...you can look for the biggest poultry farmers and invest 1 billion each for 50 people ...or you can ask smaller farmers to form cooperatives ...do you know the effect this would have on our food security ? That's 50 billion ..this can create 2000 permanent jobs


We can do the same for fish farmers ...say 50 billion and create 3000 permanent jobs

Buying fishing trawlers for $1 million dollars and giving them to local fishermen would create employment ...50 billion can buy minimum of 75 trawlers...each can employ 15 people ...that's over a thousand people permanently ...

This is just less than half of that money used for that bridge ..half ooh ...

Doing the above n building bridge which would grow the economy more ?
Solid analysis I must say,
but lets assume the garment producers, poultry farmers, and fish farmers have all the materials needed sourced locally (which is not possible)

how will they get their finished products across tot he market if we decide not to build roads (infrastructure)?

how will they keep cost of production low if there is no electricity (infrastructure) in the face of rising energy prices?

The job of government is to create an enabling business environment of which infrastructure plays a significant part. Our only problem is rather than use the scarce resources to create the needed infrastructure, they will siphon the money and use the project which will later be abandoned for election campaigns.
Politics › Re: Nigeria Won’t Float Naira, Emefiele Tells IMF, World Bank by WithX(m): 2:01pm On Apr 23, 2022
JuanDeDios:
You're arguing blindly. Chai.

Let me try again. The black market is abnormal. The reason we have it is because the CBN tries to fix a price that is below the market value ($1=N415). Holdlers of dollars will not sell at that price because it's below market value, hence you have the black market. If the CBN wakes up and says "Here, we're not fixing price anymore, let the market determine," all the money CBN ploughs into its "official market", a lof of which end up being round-triped by Alhajis and emirs and chiefs, will come into the single market. This will force the current "black market" price (N570) (at which most real sector players buy) to come down because more dollars will be available to the single market. Since there is no CBN artificial rate (which traders rarely have access to anyway), you no longer have a "black market" and the market forces rule the single market. This is better for the economy because dollar will come down. But it's not good for the few connected people (your "few cabals" ) and other crooks who are engaged in round tripping which is enabled by the dual market.

#Okbye
I appreciate your technical input sir but i will like you to educate me more.

How can the market determine the price of a commodity it has no control over? Remember we don't have control over the Dollars.

If CBN stop fixing official rate, Will i have reasons to complain when my bank charge me a rate of ₦1000 per dollar for a purchase i made using my Naira debit card (remember no official rate and they have the right to claim that is the price they got it )

What happened if all the BDC operators (of which most of them are CBN big wigs anyway) buy off the money CBN plough into the market at a lower price then hoard it and decide to sell for over ₦1,000 (buyers will have no other place to run to)


Remember sir that we already are not generating enough foreign exchange as we are a import dependent country and we aren't making any practical effort to change the narratives.
Politics › Re: Nigeria Won’t Float Naira, Emefiele Tells IMF, World Bank by WithX(m): 1:42pm On Apr 23, 2022
koning:
No free fall for Naira.

Cap it at N700 to $1. I think it's about N600 now at the black market.
Just like that?

Is that a guarantee that the black market rate will not rise beyond the ₦700 cap in another two weeks?

Have you considered what effect it will have on the economy? how it will shoot up the already skyrocketed price of commodities in the market.

I dont want to sound like a conspiracy theorist but most of those who owns the BDCs are top guns at the CBN they will hoard the Dollars till you will even be begging to buy at ₦800,

when that happened then we advice CBN to cap the naira at ₦1000 again and the circle goes on and on.

All we need is just a strategic policy that will tackle heads on the excess of the BDC /banks/ black market operators
Politics › Re: Nigeria Won’t Float Naira, Emefiele Tells IMF, World Bank by WithX(m): 1:32pm On Apr 23, 2022
Llyodsjids:
Isn't the currency already floating?, Despite your so called "interventions", look at how volatile it is
Aside how shitty the economy is, do what's best, ban those aboki and black market operators of fx and control everything by using a standardized inter-bank rate, it would help alot by reducing speculations and put things in your control
That is the simplest thing to do in a sane society.
What even is Aboki business (who can hardly add 2+2) with currency exchange?.
Btw what you suggested was done years back but it was not effective as banks will always tell you they have no Dollar buy sit around and you will see different abokis walking out of the same bank with different denomination of Dollars (They offer the banks a rate higher than the official rate) and You that really need it have no choice than to go to the abokis and buy at a much higher rate since the banks will not sell to you (even if you offer the same price the aboki offer for fear of being reported to the CBN).
We really are in a mess and its just by the grace of God and the recent rice in global oil price that is still keeping the naira in the region of ₦600.
Going into the holidays in December (Remember no more travel ban) and the election drawing near, it will be a miracle we wouldn't reach the ₦1,000 mark by January 2023.
Politics › Re: Nigeria Won’t Float Naira, Emefiele Tells IMF, World Bank by WithX(m): 1:21pm On Apr 23, 2022
The Naira has already been floated more than three times in the past two years, and what has been the result of those floating?
You will notice after each floating/devaluation of the naira the market will normalize for about two to three weeks then all of a sudden business begin as usual. then give it another one or two moths, the gap will be wide open again.

we have been going in circles and that have led us to where we are Today. Now imagine a situation where the Naira is on auto pilot and its without any interventions shocked, considering the tendencies of our banks (who will buy your $ at official rate but sell to you at market rate) or our BDC (the Alhajis) what would have been the fate of the Naira now. Just as someone rightly said,, a $ would have exchange for over ₦2,000 by now.

We need practical solutions and also need to take the problem from the root not all these ineffective short sighted approach. I just wonder how a technocrat could pilot a sinking ship for about a decade without a viable solution rather leading the Apex bank to a point where even rookies held the post it wasn't as bad as we had it now.
It would have been an honorable thing to resign if there are many bottlenecks that would not allow you do your job rather than tarnish a successive business career built over the years.

JuanDeDios:
It won't. And nobody can actually stop Emefiele from "supplying dollars" all he wants. The floating he needs to do is abolish the "CBN rate". That will close the difference between the "black market" and the official rate (570:415 to, say, 520). This will end round-tripping and every dollar "supplied" by the CBN will actually help stabilize the market. Under the current system, a few fat cats benefit while SMEs and the common man suffer.

But he won't let go of the current system, which is how they "eat". That's why some people want to make him president.

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