Nbotee:
For those who do not understand the post, CBN wants to b paying Nigerians 5 naira for every 1 dollar they receive but the 419 behind it all is the useless exchange rates dey dey maintain.. In other words dey want to bribe Nigerians 5 naira for collecting their dollars at their 419 rate

After reading you still did not understand the post... Are you not aware that you collect your money in USD?

Good morning bro. Have you ever been to a bank to change dollars? NO. Its not the job of any bank to convert your dollars and give you naira. You can only go to the bank to do dollar transactions like "form M", "form Q", send money abroad, and so on. And if the bank says it does not have dollars to pay, it will never pay you in naira, you will be advised to move to any other branch.

Foolishbuhari:


You're wrong my friend. The CBN hopes Nigerians will for the sake of patriotism, send dollars through the bank, then collect dollars at their fraudulent exchange rate of ₦410/$, so they will give you a ₦5 compensation for being a good boy. They claim if you want to be paid in dollars, the banks could remit in dollars to you. They have forgotten Nigerian banks are corrupt and will tell you no dollars and you'd be forced to collect payout at their silly rates.

They also forget if you get the dollars through your usual way, you could simply move it to black market and get better rates for it.

It's just another silly policy somersault they didn’t think through

Godarz:
Well, good idea

For those mocking the idea, the issue is the CBN has one mandate, and one mandate alone. DEFEND THE NAIRA AT ALL COSTS...and it does that by attracting dollars.

And the truth is oil prices are too low for Nigeria to earn sufficient dollars. Because Nigerians want price controls for everything, plus insecurity, and corruption, and bad leaders, investment is having a hard time coming in.

So, CBN has to resort to all kinds of methods to get dollars. The downside is that Nigerians won't be able to get dollars from abroad, and change to naira at the parallel rate...or higher rate, which to be honest is not fair...and N5 to $1 does not cover potential losses.

Nigerians have been receiving usd since December....Nigerians are always online but yet they are so uninformed...smh

loswhite:

The number of likes you got reflect the number uneducated ppl in ur circle...If by now you don't know that you recieve your remittance in US Dollars then you must be leaving in a forest

There are plans to forcefully concert forex remittances to local currency as at last year already. Put the two together and use what God gave you.

The thing is you can't do more than 10k dollars for IMTO's

einsteine:


That's if you are doing small amounts. The charges on a million dollars will not be anywhere close to 5 million Naira which is what the CBN will be giving.

rontolo:
Story, offered rates won’t be favourable to the diasporas. We will continue to finds means to get Abboki rates via peer to peer.

Lit.

Aboki rate is in 400+ and 500+, but the government wants to give it to you at 380 + 5 Naira.

At the end, it's just 385. Does the CBN think people are fools? They probably do — just the same way Buhari thinks everyone is lazy except him.

CodeTemplar:
There are plans to forcefully concert forex remittances to local currency as at last year already. Put the two together and use what God gave you.

presently do you receive your in US Dollars?Like I said you leave in a forest because it seems you don't even know anything about Dispora remittance....have a nice day empty head

Apostlelong:

Good morning bro. Have you ever been to a bank to change dollars? NO. Its not the job of any bank to convert your dollars and give you naira. You can only go to the bank to do dollar transactions like "form M", "form Q", send money abroad, and so on. And if the bank says it does not have dollars to pay, it will never pay you in naira, you will be advised to move to any other branch.

Lol do you work at a bank? For your first question, yes I have gone to the bank to claim dollars many times. Never have I been referred to any other branch to get dollars and even if they do, They only suggest that because they know even if you go, it'd be same result. They simply credit your account with them at the prevailing CBN rates.

I have stopped receiving funds through the banks now though, they can choke on the hoarded dollars. I have my ways now, tested and trusted

Apostlelong:

The thing is you can't do more than 10k dollars for IMTO's

I don't think the policy applies only to remittance through IMTOs.

loswhite:
presently do you receive your in US Dollars?Like I said you leave in a forest because it seems you don't even know anything about Dispora remittance....have a nice day empty head

You have finally shown your color. I expect that.

Foolishbuhari:


Lol do you work at a bank? For your first question, yes I have gone to the bank to claim dollars many times. Never have I been referred to any other branch to get dollars and even if they do, They only suggest that because they know even if you go, it'd be same result. They simply credit your account with them at the prevailing CBN rates.

I have stopped receiving funds through the banks now though, they can choke on the hoarded dollars. I have my ways now, tested and trusted

That policy has been reversed for a while now. People have been withdrawing USD for months now.

Ffolksy:


Hi, I'm assuming you're back home now? Hope you had a nice time out?

By the way, how is the booking done? Won't mind sharing a table with you over a meal

Yeah
I did. Thank you for asking.


It's just a normal restaurant,the name is quite popular dazall

pavoda:
So if i purchase 100000 USD from the CBN at official rates, And remit it back as inflow, I get 500000 Naira free? huh

Where are you purchasing 10000USD at official rates?
There's so much contradictory info here. Everyone seems to be an expert.

SCHOOL FEES ROUND TRIPING. Something similar was done with my school fees payment

IjeBos:


Where are you purchasing 10000USD at official rates?
There's so much contradictory info here. Everyone seems to be an expert.

pavoda:
SCHOOL FEES ROUND TRIPING. Something similar was done with my school fees payment

How did you work that out? I know you can buy dollars at the bank rate for school fees, but how did you get more than your tuition? Or did you not pay your tuition yet and are using that to make money before paying it?

tunapawizzy:
ole government...people abroad add that 5naira to the rate the banks will buy ur dollar, e no still make sense, just send USDT to ur people in naija, let them use p2p to convert to naira

or use bundle to sell out. Sapa don dey enter binance p2p small small... Make person open eyes

Sell you btc for cash at the flat rate of $400. No story. No scam zone! A trial will convince you. Just wait for it https://www.instagram.com/btc_fairtrade/

Byndimge:
Sell you btc for cash at the flat rate of $400. No story. No scam zone! A trial will convince you. Just wait for it https://www.instagram.com/btc_fairtrade/

BTC at 400 is the biggest joke I've heard this month. That is the real definition of scam.