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Naira Now N166 To $1. Can Someone Tell Me What Is Happening? - Business (6) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Now N166 To $1. Can Someone Tell Me What Is Happening? (17627 Views)

It’s N209 To $1 As Appetite For Dollars Falls / Devaluation: Naira Now N183 To The Dollar / Naira Now 172 Naira To A Dollar. Why? (2) (3) (4)

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Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by modath(f): 1:11pm On Jul 21, 2011
dannywest:

@blink182 & @modath Please what is the procedure for buying at the bank?
Please let me know here or mail me ricoenoro@yahoo.com
What Bank, what do I present to them etc etc. I use about $1000 a month in running my business and its really been painful buying at this exhorbitant rates from the black market.

Bros,sorry if my statement was misleading,i am not a biz person,i am a traveler[presented my ticket and valid visa] and bought the USD4,000 allocation.
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by dannywest: 1:16pm On Jul 21, 2011
@blink182 What Bank? Because I bought $400 at N167 at GTBank PortHarcourt Yesterday (Rather painful).

@modath Wow, ok, Thanks for replying
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 2:27pm On Jul 21, 2011
dannywest:

@blink182 What Bank? Because I bought $400 at N167 at GTBank PortHarcourt Yesterday (Rather painful).

@modath Wow, ok, Thanks for replying
I buy from my bank N154, I do not think its an official policy, I don't believe the bank management knows of such operation. Besides its not always available as they buy directly from people who come to receive western union payment.

I bought N163 from an aboki in delta state
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Fhemmmy: 8:33pm On Jul 21, 2011
blink182:

I buy from my bank N154, I do not think its an official policy, I don't believe the bank management knows of such operation. Besides its not always available as they buy directly from people who come to receive western union payment.

I bought N163 from an aboki in delta state

Very Interesting
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 8:19am On Jul 22, 2011
Fhemmmy:

Very Interesting
Funny enough, I just called my bankers and told them I want to buy dollars directly from them and they were like 'guy make you come later, if I no de meet that guy' and that was it. This is nigeria where almost anything goes. Luckily enough for me I saw how the whole process works, ie buying from western union receivers and selling to buyers. Even the bankers do not buy the dollars with their money, they simply meet a teller and ask for money with which to buy, conclude the transaction and virtually make money out of thin air.
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by dannywest: 9:54pm On Jul 22, 2011
Like they'd say, when there's a will, there's a way,
I just got 300$ for N155.41,
Used my naira mastercard for the transaction and it was deducted from my naira current account,
:-)
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by olaidealim(m): 5:10am On Jul 25, 2011
I think our current leader can not control it. I just wonder
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by buy1get2(m): 6:25am On Jul 25, 2011
am thinking about the economics meltdown part 2, lolz
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 9:09am On Jul 25, 2011
dannywest:

Like they'd say, when there's a will, there's a way,
I just got 300$ for N155.41,
Used my naira mastercard for the transaction and it was deducted from my naira current account,
:-)
How did you do it, you seem to have landed a good deal but with a process unknown to me. Please share
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Fhemmmy: 6:40pm On Jul 25, 2011
dannywest:

Like they'd say, when there's a will, there's a way,
I just got 300$ for N155.41,
Used my naira mastercard for the transaction and it was deducted from my naira current account,
:-)


Please you will be saving a business if you would be able to give better info on this . . . . . .
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Jsteed: 11:05pm On Jul 25, 2011
@blink
which bank sold N155.00 to you, please let me know
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 8:14am On Jul 26, 2011
dannywest:

Like they'd say, when there's a will, there's a way,
I just got 300$ for N155.41,
Used my naira mastercard for the transaction and it was deducted from my naira current account,
:-)
Still waiting for your reply
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by sholatech(m): 9:34am On Jul 26, 2011
In simple terms, if you have a Mastercard or Visacard that you can load in Naira, and use it in Dollars(either by withdrawing on ATMs in USA/Canada) or buy goods online, then you will only be buying dollars at 155-156 naira, But the potentials are limited!
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 9:50am On Jul 26, 2011
sholatech:

In simple terms, if you have a Mastercard or Visacard that you can load in Naira, and use it in Dollars(either by withdrawing on ATMs in USA/Canada) or buy goods online, then you will only be buying dollars at 155-156 naira, But the potentials are limited!
You will be buying at official rate which is 149-151 and its limited to $40k, if you can prove to gtb that the card is inadequate for you then I'm sure they'll issue you a no limit debit card
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Fhemmmy: 3:45pm On Jul 26, 2011
Would you guys recommend any bank for this?
Please make sure it is a tested and trusted bank . . . cos nothing worse than loading a card with money and yet the card is not acceptable at stores or dealers when i get back to home base.

I hate such embarrassment
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 3:49pm On Jul 26, 2011
^^^
If its gtb you are refering to, I know they have the best customer service in nigeria as for the card lipsrsealed
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Fhemmmy: 4:58pm On Jul 26, 2011
blink182:

^^^
If its gtb you are refering to, I know they have the best customer service in nigeria as for the card lipsrsealed

I think the card is of more importance, as i wont be using it much in Nigeria, except when i have to load, or when i am around . . . . Which for now, aint much anyways
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 5:03pm On Jul 26, 2011
k, bro
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by dannywest: 8:00am On Jul 28, 2011
@Blink182 IM SO SO SORRY!! I TRAVELLED OVER THE WEEKEND AND JUST RETURNED LAST NIGHT. ITS THE NORMAL GTBANK ORANGE NAIRA MASTERCARD.
IF YOU HAVE A CURRENT ACCOUNT WITH GTB, USE IT FOR YOUR ONLINE TRANSACTIONS AS USUAL AND THE NAIRA EQUIVALENT FOR YOUR TRANSACTION WOULD BE DEDUCTED FROM YOUR CURRENT ACCOUNT.
THATS HOW ITS WORKING FOR ME NOW.
SORRY FOR THE DELAY, AND FOR TYPING IN CAPS.
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 8:42am On Jul 28, 2011
dannywest:

@Blink182 IM SO SO SORRY!! I TRAVELLED OVER THE WEEKEND AND JUST RETURNED LAST NIGHT. ITS THE NORMAL GTBANK ORANGE NAIRA MASTERCARD.
IF YOU HAVE A CURRENT ACCOUNT WITH GTB, USE IT FOR YOUR ONLINE TRANSACTIONS AS USUAL AND THE NAIRA EQUIVALENT FOR YOUR TRANSACTION WOULD BE DEDUCTED FROM YOUR CURRENT ACCOUNT.
THATS HOW ITS WORKING FOR ME NOW.
SORRY FOR THE DELAY, AND FOR TYPING IN CAPS.
Oh, thanks.
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Fhemmmy: 2:48pm On Jul 28, 2011
dannywest:

@Blink182 IM SO SO SORRY!! I TRAVELLED OVER THE WEEKEND AND JUST RETURNED LAST NIGHT. ITS THE NORMAL GTBANK ORANGE NAIRA MASTERCARD.
IF YOU HAVE A CURRENT ACCOUNT WITH GTB, USE IT FOR YOUR ONLINE TRANSACTIONS AS USUAL AND THE NAIRA EQUIVALENT FOR YOUR TRANSACTION WOULD BE DEDUCTED FROM YOUR CURRENT ACCOUNT.
THATS HOW ITS WORKING FOR ME NOW.
SORRY FOR THE DELAY, AND FOR TYPING IN CAPS.

This is the first time, i am getting so much useful info on Money and Buz section . . . NL is really being so useful . . . thanks guys
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 2:55pm On Jul 28, 2011
Fhemmmy:

This is the first time, i am getting so much useful info on Money and Buz section . . . NL is really being so useful . . . thanks guys
No be thank you for mouth o, you go dash me one lotus elise based on services rendered. grin grin grin
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Fhemmmy: 3:01pm On Jul 28, 2011
blink182:

No be thank you for mouth o, you go dash me one lotus elise based on services rendered. grin grin grin

What color do you like?
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 3:05pm On Jul 28, 2011
Fhemmmy:

What color do you like?
My leader, I want metallic black
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Fhemmmy: 3:14pm On Jul 28, 2011
blink182:

My leader, I want metallic black

Convertible or hardtop ?
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 3:18pm On Jul 28, 2011
Fhemmmy:

Convertible or hardtop ?
Split folding hardtop or just hardtop grin
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Fhemmmy: 3:23pm On Jul 28, 2011
blink182:

Split folding hardtop or just hardtop grin

From us to you . . . . . . .
For you alone and no one else, out of the generosity of our heart . . . .

Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 3:33pm On Jul 28, 2011
Fhemmmy:

From us to you . . . . . . .
For you alone and no one else, out of the generosity of our heart . . . .
grin grin grin grin grin grin grin
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Fhemmmy: 3:39pm On Jul 28, 2011
blink182:

grin grin grin grin grin grin grin

Wetin now, you no like am?
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 3:49pm On Jul 28, 2011
Fhemmmy:

Wetin now, you no like am?
Na only inside my estate I go drive that one any attempt take it outside. . . .hmmmm, either exhaust cut, engine pull or bumper break
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Fhemmmy: 4:30pm On Jul 28, 2011
^^ Ha ha ha . . . that is a machine
Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 5:07pm On Jul 28, 2011
Yes o grin grin grin

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