₦airaland Forum

If CBN is serious about the big disparity between official rate and black market, they should allow international wiring transfer of naira to dollar.

If you can easily convert your naira to dollar through international wiring system from your bank account at official rate, 95% of those dealing internationally wont need to buy from black markets at outrageous rate.

Let them negotiate with international mobile app like " sendwave, worldremit, paystack,Remitly, etc", so that Nigerians too can send naira to dollar account.

SeunDAssLicker:
You’re ranting when all I did is asked you a question. Where do they get the USD from you think since you cannot wire cash deposited in your bank account.??

According to CBN, banks will not send out wire transfer if you deposited USD in your account. So where do you think these ordinary Nigerians get the USD from?

Card limit is $20 monthly

Dont mind him, that is how the CBN governor stopped the "over the counter withdrawal of dollar" and making it becomes scarce commodity.

I will help you ask him again, if all dom accounts are closed, where will people see dollar to pay bills abroad?

Wont few available ones in the black market become too expensive for an average individual or exporter to deal with?

How do CBN know the people genuinely needs Dollars for foreign transactions?

Femifasola:
Same ile ife wey I dey. Here three bedroom flat with pop is 240k per annum. Better say what you know

And I can tell you there are countless like that for 200k or less in Ibadan.

Alot of newly built houses with modern facilities Around OAU road 7 and OAUth are 300k and above.

abat4real37:
Oyo state is cheaper than Osun

You are 100% correct.

Femifasola:
The cheapest state to live in the south is Osun. Things are relatively cheap here from house rent to basic provisions. If you're really tired of staying in glorified cities then Osun is the most convenient place you can live in.

There is stable power too in Osun. Osun has one of the most stable power in the entire country

Ile- Ife is not cheap at all.

More expensive than what you get in other states except Lagos.

The genesis of this crisis was the stupid policy of " no over the counter withdrawal of dollar" started by Central bank around 2016. People rarely used Dollar for business as it was so surplus that commercial banks dont even bother or stress themselves to buy from you at their rate. The idea might looks good to whoever brought it up, but they failed to acknowledge the insincerity of some Nigerians.

Problem started when some people,especially politicians and elites who have nothing to do with foreign trade buys dollar at official rate from Central bank and sell to black market at inflated rate.

If this policy was not introduced back then, dollar would still be around 320 by now. I could remember sometimes around 2011, the different between official rate and black market wss between #10 - #40, but to today, while official rate is still around 415, black market sell around 700.

Our economy also, being import dependent one could not help the matter. I dont know if common sense is not appeal to them that if something is made scarce, its value will increase,and if its value increase, everything use to import will also increased in value.

H0711:
Unfortunately he can't afford to take the child anywhere. his younger sister has refused to come and help and I can't do it too. Being a single mother is not a death sentence I rather leave than carrying a burden which I didn't agreed for.first of all he didn't tell me anything about the child and her condition and why would I have to stay and suffer taking care of her including my own baby who will be born in 2 months time. If another woman would be happy to come and take care of the child is not my problem I wish her all the best.

Calm down woman, you are sounding too selfish with the way you're reacting.

Agreed he was wrong by not telling you, but please have a little bit of humanity in you. Anyone can be in any situation in life as long as we are still existing. The woman drop the child as a result of your husband inability to support her, tell your husband to go and beg her and be giving her something every month.

I can categorically tell you that it would be much more beneficial to you to find solution to this current problem than to be a single mother. And who tell you your husband cant afford this money in few months time? There are ways nature used to solve our difficult situation even without us prepared for it. I am 100% sure you can face and defeat this situation by finding a solution to it with your husband.

The CBN governor is the most clueless man that should be held responsible for whatever the economic crisis we are facing today.

The genesis of this problem started with his policy of no over the counter withdrawals of Dollar. This made the dollars so scarce that the exporters has to request for it through Central bank. This gave some influential people who has no business with exportation the opportunity to buy from CBN and sell at already starved black market at outrageous rate.

I could remember around 2012, whenever my brother sent me money through western union, the different between official rate and black market was not up to 50 naira. In fact, bank dont bother themselves to convince you to exchange with them. Though, he eventually reverses the policy sometimes last year but things has already gone out of hands.

Another problem is import dependency economy we are running as a country.

Hydroxide:
the bad governance Nigerians are complaining about are economy, insecurity and Education, which are on the exclusive list of the presidency. Na my governor wan stabilize the dollar so that the economy go better? Na my governor wan provide security all over naija? Na my governor wan end ASUU strike? The problems in the country right now are general, na every states dey feel the heat. So we must call Buhari cos the man dey very incompetent and Wicked.

Education and economic to the large extent is cucurent list. If state governments are smart, they would've formed their working educational system that wont give room for incessant lecturers strike. They would've invested heavily in cash crop like cocoa, rubber, palm oil, cashew, cassava, groundnut, etc for exportation, which would've aid the country economy.

Elliotg:
Since governors or the president can literally handpick local govt chairmen and senators and the rest, they don't answer to themasses. They only answer to those who made them what they become. My elder sister's husband was once aspiring to contest for Bayelsa state house of assembly. Why they were gathering and preparing for primaries, right in that venue, announcement came that the governors list is out. That was how the primaries ended for them. So, how do you expect those kind of leaders to do their work? You can't even petition them without incurring the wrath of the powerful people at the top. If the corruption is not cleaned out from the presidency, nothing will change at the bottom–and he will take all blames. Based on how we run our govt, everybody is an employer of the president. He it turns out good, he takes the praise; if it turns bad, he takes the blame.

I disagree with you, governors are more independent than other arms of governments. They can do and undo in their area of jurisdiction, so they are the closest to the people, and should be blame for majority of our problems.

Federal government dont control or have power over the state governments and legislators.

Can we just say that majority of our nowadays youths are too silly or educated illiterates.

The bad roads in your communities, hospitals, elementary schools, transformers repairing and replacement, elderly and widows empowerment, youth empowerment, markets, transportation and other local economic activities are the sole functions of your state and local governments.

I could remember when I was young, my dad being one of the leading landlords in our area will go to local government then and bring tractor to smooth all the roads and gutters before the commencement of every rain season. Local government were very efficient and close to the people, the same cannot be say this period.

People wont blame their state governors for their total failure and mismanagement of local government fund but president.

No man born from the womb of a woman can solve Nigeria problem with this current political arrangement and constitution.

GraciousGod190:
I don't know if I am witched or jazz, when I'm broke I sell as little as my spoon to iron condemn people... looking for everything that has iron in my house to sell... I have sold my tv two times...year 2015 And 2019 just because I needed money badly... This is really affecting me, I don't seem to have properties because of this. People who stay around are starting to talk, I have tried several times to stop but I can't....the problem is I see new stuffs I buy as a fall back option whenever I'm broke.. please how do I change this living of mine.
Lalasticlala I need help

Until you are broke and have nothing to sell or someone to lend you money that you will know how lucky you are to even have something to sell to solve your problem.

Yes but not everything, about 70% of it.

Also dont ever tell a woman you are totally broke, just say the money you are expecting is not yet out, by this method, she would gladly release her money to you and still respect you even if you dont pay back.

He should directs his warning to bank officials, politicians and influential people in society because getting dollar from the bank by average citizen is one hell of a task.

These people especially banks,buy from CBN at official rate and sell higher at black market with huge profit.

Frankitibobo:
30 fake bishops

They might not be fake, you dont know Nigerians. I can bet it with right amount, 90% of Nigeria Bishops wont reject the offer.

People get serious problem I swear. What is so difficult for anyone to vote for the candidates of their choice. There are many candidates contesting for this election, why making noise on Tinubu muslim - muslim ticket when we can easily vote our choice ticket.

CAN and other religions bodies should allow this matter to rest please.

Whazar:
Even a toddler knows this


I’m glad my state stopped that nonsense in 2019

No more APC in Oyo state


Bourdilion can burn for al we care

Have you ever taking your time knowing financial situation of Osun state? I am very sure you did not, reason you agreed with this man who might actually be an illiterate they called him.

Aregbesola has destroyed financial capacity of any incoming government by taking huge loans that the next 4 governors cannot pay off. This man know next to nothing about what he just put himself in, by the time he receieve that token left from Federal allocation after removing debt, maybe he will get sense.

bukiah:
Osun people don wise up.
The fear of Afusa is the beginning of wisdom for all osun workers.
The came out in large numbers to drive away useless and wicked government.

Both parties are useless and have nothing to offer.

Both parties buy their way out today, and you may be wondering where these foolish people will get their money back from already bankrupt state like Osun. Adeleke government wont be different from usual tradition of chop I chop.

Just spoke with someone from Osun now.

PDP - 5k

APC - 7k or 10ik.

If you are here still supporting or jubilating over one of them victory, just know some people has sold their future once again to these unfortunate leaders.

All politicians in Nigeria are the same, and they are hopelessly corrupt like the same masses they are govern.