opal4real:


For those who believe in Buhari may your life be managed the way Buhari is managing our Economy. In d name of whatever you believe in.

Press Like to say Amen n Share to reject d this simple prayer.

Keep wailing bro..

modath:



Pardon m curiosity but why then do you need to withdraw Forex in Nigeria?

Madam how CURRENT are you with this Info that stanbic ibtc pays dollars @ dom account. Because if I get you correctly, you are saying that if someone sends $10,000 from his US dom account to my Naija dom account, I'll be paid EXACTLY $10,000.....this doesn't sound right atall....because CBN directs that banks should issue dollar to only those who are ready to Import raw materials that'll favour the country. So HOW CURRENT IS YOUR INFO?

Chukzyfcb:

Madam how CURRENT are you with this Info that stanbic ibtc pays dollars @ dom account. Because if I get you correctly, you are saying that if someone sends $10,000 from his US dom account to my Naija dom account, I'll be paid EXACTLY $10,000.....this doesn't sound right atall....because CBN directs that banks should issue dollar to only those who are ready to Import raw materials that'll favour the country. So HOW CURRENT IS YOUR INFO?

Bros, I am not the sort to blow hot air on NL. My info is this minute CURRENT...

You don't have to believe me but I can bet you a thousand dollars that not only will you be paid 10k, you will be paid in HIGH bills ....

This is Stanbicibtc, they are not solely dependent on CBN, they have branches in many African countries..... we are not talking ou naija banks... & incase you are not aware, Stanbic is the only bank that you are 70% assured of being able to buy PTA & process Form A... do fact finding to confirm.. thx.

4Play:


This is part of the story but not the full story. At the heart of the problem is dollar inflow into Nigeria. Oil exports are a major source of dollar inflow and so a fall in oil prices reduces dollar inflow. However, dollar inflow may also come from foreign investors attracted by an improved business climate or even corrupt loot being repatriated.

The pace of Naira's collapse is not simply an oil story but it is a reflection of souring investor confidence in Nigeria both in terms of the policy direction, or more aptly the lack of policies,and a rapidly deteriorating business environment. I have also noticed from speaking to Nigerians that many are looking for a way to get money out of the country to hedge their Naira savings in a foreign currency. So not only are fewer dollars coming in but we are experiencing capital flight.

For years I used to try to drum it into people's heads that Nigeria's economic underdevelopment is not simply a corruption issue. Our poor choice of policies is a more significant factor than corruption. If you have a regime that reduces corruption by $2bn but causes capital flight of $10bn you have not gained anything. The reason why Nigerians like to reduce our problems to the single issue of corruption is that we are a people with a religious mindset and an affinity for simplified moral narratives. Economics is a very complex subject and Nigerians struggle with complexity. Better to construct simplistic narratives based on a foundation of ethnic/religious loyalties and hatreds - Hausa/Fulani Muslim oligarchy v IPOB/Ibo conspiracy - than to tackle the headache inducing complexities of the modern world.

Pesuzok:
This exchange rate is artificially caused. People have turned it to a business. Everybody is now buying dollar to hoard and sell at a higher price, there is nothing the government can do about that. Let us continue, I beg I need to buy like 2000 dollars now that I will resell when it gets to 500 naira to 1 dollar

sure it would get to 500?

modath:



Bros, I am not the sort to blow hot air on NL. My info is this minute CURRENT...

You don't have to believe me but I can bet you a thousand dollars that not only will you be paid 10k, you will be paid in HIGH bills ....

This is Stanbicibtc, they are not solely dependent on CBN, they have branches in many African countries..... we are not talking ou naija banks... & incase you are not aware, Stanbic is the only bank that you are 70% assured of being able to buy PTA & process Form A... do fact finding to confirm.. thx.

U are point bro about stanbic ibtc

Rayhut:

is not true,those living abroad transfer money to domiciliary account and withdraw in dollars,then change in black market or you send through azimo international money transfer,their exchange rate is near to black market rate. Western union and moneygram is for official transactions

hello bro, could you please tell me more about the so called azimo, because i cant bear lossing, Imagine refunding double of what your are being loaned, and again brother, i doubt it if you can withdraw in dollars from any domiciliary account, the bank will pay you in naira at 197 equivalent. This is really frustrating

yinkeys:

I got charged 300naira to $1 this morning

Dang! Think I gotta temporize with this online purchases thingy.

modath:



Bros, I am not the sort to blow hot air on NL. My info is this minute CURRENT...

You don't have to believe me but I can bet you a thousand dollars that not only will you be paid 10k, you will be paid in HIGH bills ....

This is Stanbicibtc, they are not solely dependent on CBN, they have branches in many African countries..... we are not talking ou naija banks... & incase you are not aware, Stanbic is the only bank that you are 70% assured of being able to buy PTA & process Form A... do fact finding to confirm.. thx.

As far as StanbicIBTC is concerned, what's their naira rate to the dollar on online transaction? Is it competitive with other banks? Last I did with Aliexpress on GBT is 248, but someone says it's now 300.

How much is $$$ now?


Buhari, the next best thing after sliced bread according to western Nigerians.