₦airaland Forum

The numbers is on the Picture. Just check the picture.

For over time past the joint group importation has been on going. From

Season 1 -
Season 2 -
Season 3 -
Season 4
And season 5.


Now is season 6.


How is Works

Buying an item at cheaper price is highly dependent on quantity and money. While most may have the money they do rather not buy large quantities as they do not have the selling power. While some others have the selling power for bulk items, they do not have the money, and while some have both money and selling power, they lack the infrastructures. Now the idea here is to make use of all our strengths killig our weakness.

Solutions
Several people come together under one umbrella pull funds together to buy an item. Now we have this item produced in China and imported into the country at cheap price, cheap shipping and means. Then when brought in everyone share it according to the money invested into the project and go there various ways.


Previous seasons and how they have gone.

Season 5 (last season https://www.nairaland.com/2194077/alibaba-group-importation-season-v#31577452 )

How to register.

1. Call any of the number below
2. Ask for an account no to pay registration fee.
3. After payment of registration fee contact any of the number to add you to the group.



Item to be Imported: Female Flat shoes

Too sad its just for a period of time, then it will depreciate again.

It's time, we allow the naira float to its real place and let the fx market / interbank and parralel market be at peace.


After a week or two or three, the banks must have gotten a way to send or disposed the dollars in their vault off, the demand for dollars will arise again surpassing the supply this will re-shape the demand curve and lead to a graphic inequality scientifically termed elastic limit.

It's just temporary. The naira will depreciate again soon after a month

Some BDC are no longer publishing their selling rates any longer. They want you to call and ask.

So they chet you

LAX89:
Quick question; What is the problem with declaring the $ you have at the airport, when its above $10k? I've made such declaration in Nigeria and overseas, and each time there was no issue. You only have issues when you don't declare the cash, or can't explain it.

Nothing is the problem but people really don't like it. Now it outs you in the limelight. I just don't think we should call for unnecessary spotlight.

But I feel that there re clear routes to pay international partners.

Open a Form M with your bank, get a Bill of Collection, approach your bank for USD, if your transaction is not part of the items on CBN restriction you will surely get FX to settle your bills either through the CBN intervention window which is lower than 198 or through the inter-bank/parallel market in the range of 200 per USD.

Your bank will charge your Naira account for the USD equivalent.

makzeze:
whats d selling price of dollar in kano?

It's


N220 in Minna @ Alh Dubai BDC.

2. N221 in Minna @ Geuvere BDC close to Access Bank Minna
3. N219 in Abuja @ 313BDC in wuse 2
4. N219 in Abuja Sheraton hotel.
5. N220 in Bida @ Mai Anga BDC Niger.
6. N217 in sabon gari close to Kingdom Hall of Jehovah's witness in Kano.

Cc: stagger

Can you see the form A , I was talking about on the other thread is what is been said by Governor of VBN here?

makzeze:
my question is: how would importers of 41 items banned by CBN from interbank market and travellers get dollar to buy?

From BDC and sellers. Beside its there is a way to get the dollars over thia cheap using naira.

Some Nigerians even go buy from Benin that's the latest in vogue. But bDC is sure bet. Approach them before Wednesday.

They get dollars supply before wednesday fx from the cbn. Meet a BDC that know his onions.

If you Kano , Abuja. You can dial me up I link you up

mimima:
alternative ways of sending money is through bills for collections and letters of credit.its the best

its not easy obtaining letter of credit.

And ma the popular Chinese banks like

1. Bank of China
2. Agricultural bank of China
3. Ibc
4. Merchant bank of China

They don't accept Loc from Nigerian banks except Frst Bank.

Good luck getting an Loc from first bank. It's like getting a pin in a desert.


***edit**

Letters of credit are used for business purposes, in relation to that I used china, since that's the major hub. It's mostly clothes importers from Turkey and veitnam that uses LOC.

Beside you can't use LOC for contraband goods. Good luck with customs

stagger:
Why should I? September is approaching when schools abroad (UK and others) are opening for a new session. People will need foreign currency to pay school fees. Where will they source the money from seeing that dollar deposits are now prohibited? It will only come from electronic transfers.

The way I see it, I am actually acting a lot smarter than most people selling their dollars now. What do you think?

Bro, think twice

For school fees you use Form A. That's what is in vogue not all this buying dollars. Beside when travelling with above $10k you have to declare it. And What do you think you can sell yours cheaper than PTA? Or BTA?


Bro this is not people playing smart its playing wise. Why will I buy dollars from you when we have several options to pay for school fees.

1. Form A. ( 199.5 fidelity and 203 at stanbic. Last week )
2. PTA. ( 199.5 per dollar at Fidelity bank )
3. Money Gram ( rough exchange rate with charges 222 @ first bank )





Cc: Tdayof

passwelle:
@Ymodulus, you obviously did not read the original post well. I have quoted this above. As used "sub $50k" means if less than $50k.

OK , I missed that 'sub'. But even at that you would have used the word $1-14,000. Thats appropriate.

Same sorry I missed the word sub

fados4sure:
Big lie! Who told you that? I withdrew 750euro's in a day in Europe

g

He is not living. It's the truth you can't withdraw above $300 a day.

passwelle:
Who said anything about withdrawing cash? You can use your GTB card for foreign transactions web/POS up to 4 million naira in a day.

Bro, you mentioned $50k and likes in your post. Importers that spend such amount don't use POS they give cash factories prefer cash and not pos. Beside it is crazy to spend 4million per day via POS.

The only way I see your idea working is when you do POS for money. It's done in countries like China. Where you use pos input amount and the pos owner gives you raw cash at said amount.


Aside all this no serious importer will travel to get goods in a foreign land of high amount and pay using POS its never done.

Gtbank

stagger:
By Wed I will have about 2500 USD for sale but only by electronic transfer and at 240. Only serious people will be attended to.

You are not ready to sale yet. The price electronically now is 220. I sold mine 210. If you want 220-225 that's the price.

Act smart and off load your dollars. Note.

There is a current ish now. Transferring from some bank Dom is showing error via e banking. Confirmed from Gtbank and Fidelity.

passwelle:
To fund imports, if its on list of what is approved by CBN, you apply for financing thru Form M etc. If its not on the list of importable items approved by CBN, you resort to finding forex funding from abroad or from individuals who have FX in their dom accounts funded thru foreign transfers. For those who have funded their dom accounts using cash deposits they may be unable to transfer this outside the country.
nb. Note that this is for those who deploy large amounts of funds for imports. If sub $50k, you can just use you naira denominated cards.

You can't use naira denominated cards as you now allowed to redraw above $300 pe day. And real business importers talk in thousands of dollars not hundreds.

It goes to say form A - Intangible items or service or Form M is the way. We are back to old times.

MizMyColi:
I don't know if a topic such as this has been discussed on here, but I'm piqued as to the reason I, and many others (I'm sure) now have almost constant power supply. Did NEPA (sic) forget where they usually switch off the light? (Pun intended).

I would like to glean from the insights of those who have first hand knowledge on what went wrong earlier, and what is going rightly this time.

Your views are welcome.

change

Demmocrats:
Its Jonathan not my said buhari

Wailer

deltateam:
Exchange rate of 1 dollar is currently #200

Don't be in haste to conclude. The Dollar is falling due to large supply and low demand. But electronically the dollar is still expensive.

As a matter of fact I just sold $26,700 @ N210 why guys are selling $217. The scope now is to send money to a Dom and charge for it at exorbitant naira price.


For me mine was in a Chinese dollar account, I didn't even sweat to get it as I got the dollar for way cheaper price then sold at N210.

I love the currency business. You gain big or loose big. You just have to play wise.


Most BDC are not even buying dollars again. Example is one of Abuja biggest BDC, 313BDC wuse 2, they are not buying.

After 3-4 weeks when the circulation of dollars in the market has reduced the price will begin to rice again.


Now the implication of the fx turn around is since the dollars at the parralel market is expected to fall below the CBN official rate in coming days. Then Send raw cash dollars to china, India and turkey where Nigeria importers make deals. Then have those cash used to help Nigerians pay electronically at cheaper price this will make you compete even with the Banks and make huge money.

Before the dollar falll, for the previous 3weeks I have been sending money to china at 233naira a dollar for agents while black market price was 245. Now it's time to turn the payment around convert raw dollars to electronic payment and crash the price making profit.

Doing this you can even beat the stanbic ibtc rate of 199.5 never say never.

I love the naira now.

[size=24pt]Thanks


Sold. [/size]

IVORY2009:
If this is the reasons, I can assure you the banks are going to find a way out of dis, in the coming days.

If you have your money in a foreign land then send it back to Nigerian domiciliary account.


I just off loaded all my dollars into Bank of America account and A Gtbank Domiciliary account from china.


The way now is to transport dollars outside at cheap rate and sell electronically at high rate. That's the new business. First deal work.


But for me now. I don't want to store my money in dollars untill its stable again. I am OK with the naira

edisoncash:
Please how do we meet for this transactions

Where do you stay?
Abuja / Lagos / kano I can shuttle. Same day we meet and transact.

Thanks

Hello,

last week several banks stopped deposit of Dollars / Pounds into domiciliary account, and now there is a high demand to deposit dollars into domiciliary account.

We like to inform you that we can help you make dollars transfer to your domiciliary account and you pay us in Naira.

Exchange Rate: N210 to $1.

Amount Available: $26,700.
Minimum amount to transfer per transaction: $1000

We can wire to any bank in the US or dollar account in Nigeria.


Note: I need naira only!!!!!!!!! you give us naira deposit and we give you dollars thanks




[size=23pt]Sold. Thanks[/size]

Available

patrickdaji:
d last price i can go is 4m

Bro forget this picture u dei upload. Tokunbo better is 2.2- 2.5 why u wan collect 5m?

If you really want to sell this then you reconsider else just keep on advertising.