magnetik:
If the same was done for Christian pilgrimage.. so what's wrong to do the same for Muslims...?

stchinedu:
Okay

magnetik:
If the same was done for Christian pilgrimage.. so what's wrong to do the same for Muslims...?

mutvy:
A dollar was sold for 100 naira to Christians during their pilgrimage to Jerusalem,nobody raised his or her eyebrows. Why the noise now?What the fuss about this? Please noisemakers, learn how to be tolerant.

gurunlocker:
Progressive01, come and say something to this.

I know you have no clue about the consequences of that pilgrimage subsidy and you know nothing about exchange, you are a typical zombie as seen in your article.


Can you see the loss this will bring, what gain will the hajj bring to the Nigeria economy?

You were saying they did same thing for Christians, did you forgot the exchange rate then compare to now? As at today a dollar is #400 compare to last year #245..... and they are subsidizing below half of the current parallel rate, isn't that insane?

obailala:
Sometimes one can't help but wonder the kind of juju that is always used on decision makers in this country once they get to power. How did any normal human with a functional brain think this sort of thing is a good idea?

And one begins to wonder why the black race is so backward... People are dying of kwashiorkor in the north and in several parts of the country, the best priority for some people in power is to spend scarce billions subsidizing worthless spiritual trips?... If this foolishness is not rescinded, may high thunder strike the idiots who thought up and approved this nonsense as a good idea.

izzou:
2019


How long will you take before you get here?

addizzle:
exercise patient

Nicur:
The Central Bank of Nigeria has issued a circular instructing commercial banks to sell dollars to Pilgrims going to the Hajj at an exchange rate of N197.

The Central Bank explains that the sale of the forex will be funneled through commercial banks who are then mandated to sell to pilgrims at N197. Pilgrims are expected to purchase a minimum of $750 and a maximum of $1000 per pilgrim.



The circular also reveals there are a total of 65,197 Pilgrims, thus the CBN will sell as much as $65,197,000 assuming every Pilgrim buys as much as $1000 each.


Nigeria’s official exchange rate closed at about N315 which suggest that this sale could cost Nigerian tax payers about N7, 693, 246,000 in exchange rate loss (based on 315 -197=118).

This is not the first time the Central Bank is selling dollars to Pilgrims at a subsidized rate. Last August it also sold dollars at N160 at a time when the official exchange rate was about N197. Only that this time, the disparity is wider.

The implication for Nigerian tax payers is that the government is now incurring this sort of expense at a time when the economy is likely in a recession and millions are finding it hard to feed themselves. It is also at a time where the Nigerian government is running cap in hand begging foreign investors to invest in Nigeria so that we can boost our external reserves.

It also calls to question suspicions that government officials may be getting travel allowances at a different exchange rate from what is obtainable at the official interbank market.

The Central Bank of Nigeria floated the Naira on the 20th of June 2016 following a year-long policy of holding the exchange rate at a fixed rate of about N197/$1. Since floating the naira, the exchange rate has depreciated by as much 60% at the interbank and over 100% at the parallel market. The dollar closed at about N400 at the parallel market on Thursday.


http://nairametrics.com/cbn-to-lose-n7-6-billion-in-tax-payers-money-for-selling-dollars-to-hajj-pilgrims-n197/

izzou:

The change is burning off my patience very quickly

Nicur:
later Buhari, Lai Mohammed and his gullible zombies will be looking for who to blame
Just look at how they are mismanaging the economy! like if you want thunder to fire them!! mynd44 and lalasticlala come and see oooh

gurunlocker:
Progressive01, come and say something to this.

I know you have no clue about the consequences of that pilgrimage subsidy and you know nothing about exchange, you are a typical zombie as seen in your article.


Can you see the loss this will bring, what gain will the hajj bring to the Nigeria economy?

You were saying they did same thing for Christians, did you forgot the exchange rate then compare to now? As at today a dollar is #400 compare to last year #245..... and they are subsidizing below half of the current parallel rate, isn't that insane?

Firefire:



Complete madness if you ask me.

But we have residence Zone-Bs using their data to continue to support the stupidity.

gists:
First, it is hypocritical to lament about the amount of money being lost because of the subsidy for Hajj pilgrims even though you kept quiet when the Christian pilgrims were also subsidised by the same government last year.

But having said that, this government campaigned that they will stop wastages. What better/bigger example of wastage can you think of than subsidizing pilgrimage - be it muslims or christians. The money being used for this purpose will go a long way in solving some of our pressing needs.

We should always talk and speak out when the government does something wrong. It is very silly and childish (to say the least) when you speak only when it favour you or while trying to pull down the other. It reminds me of Jibrin and Dogara.

Firefire:



Complete madness if you ask me.

But we have residence Zone-Bs using their data to continue to support the stupidity.

bidex:

dude, dollar is 197 not 315 official market

magnetik:


Yes the economy is not on the good side but this is not too much of privilege to pilgrims. What alternative would you have suggested to ease the pilgrim's trip.

Firefire:

Please rephrase your statement, I don't understand?

Babycherry:


Don't mind them, one fool they call nusaf plans to go to this pilgrimage one day

magnetik:
If the same was done for Christian pilgrimage.. so what's wrong to do the same for Muslims...?

Progressive01:
Since when did the same shameless bastards who support economic sabotage by NDA suddenly become so concerned about the well-being of the Nigerian economy.

When yall wanna see stupid, look in the mirror.

I've made my submission and I know how hurt some people will remain over it for the rest of the evening. Too bad that is all they can do- feel hurt.

Cowards be hiding behind other people's comment to throw feeble jabs.

magnetik:


They are Nigerians bro.. there should be some privileges in such case