Wallade:


The dollar has been rising extraordinarily in the black market against the naira. This is not the case with Pounds and Euro.

This implies that the rise of the dollar is artificial and majorl6 speculative.

1. There are a lot of rich people mopping up dollars in the black for several reasons.
2. A lot of organizations that engage in international trade also source their dollars from black market.
3. Most Bureau De Change are owned by politicians who hold cash majorly in dollar currency and use the Bureau De Change to clean dirty monies. Their cronies mop demand the dollar constantly to continue to reduce dirty naira held in their houses and other secret chambers.
4. They use their children, associates, families, cryptocurrency and other means to launder the monies to other countries for investment and safe keeping from the prying eyes of EFCC and ICPC.
5. CBN sells dollars to approved Bureau De Change at 420 naira and those BDC sell to the public at 710 naira. Meanwhile, 90% of these BDC are owned by the politicians. There can only be few better business than that in terms of profitability.

The desire of Nigerians; politicians, business men and women, civil servants, rich and affluent, to hold value in dollars is getting insatiable this, the demand for dollar is unprecedented.

It will not stop till we take drastic actions:

1. Ban the sales of Forex to BDCs from CBN and Commercial Banks.
2. Ensure every organization with legitimate need for forex go through CBN via commercial banks and get their request duely and in short turnaround time.
3. Ensure BTAs and PTAs demands for Forex are met by commercial banks in timely and efficient manner.

These efforts and others will help to stabilize the dollar and forex rates in the market.

If you stop BDC, is government ready necessary to provide all the forex needed!

Dubaku543:
Na that name Obi go eventually give you cardiac arrest!

As Tinubu and Atiku are surely going to be the cause of your death. Receive my wish of death, you and your generations. Why is it that you cannot take as much as you give? You support Obi, no problem but there must be problem when I support my own candidates? Who does that? Abi o fe s'oriburuku ni?

Na force una want use,to give the naira straight abi?

treesun:


If you stop BDC, is government ready necessary to provide all the forex needed!

Please read my position well, I didn't say stop BDC. I said CBN and Commercial Banks should stop selling forex to them.

There area still other private sources they (BDCs) get forex. If you know how much forex are stored and kept in people's private houses, stores and chambers. You will marvel at it.

Ordinarily, wouldn't you sell your dollar to BDC rathers than sell to the commercial banks?

BDCs will still be operating in the black market but they will not be able to buy from CBN and Commercial Banks at 420 naira and almost immediately sell in black market at 710 naira. If that practice continues, dollar will soon hit 1,000 naira per dollar.

LikeAking:


Seconded.

Thirded

Just outta curiosity.. can’t we use the dollar to buy things too since the Naira have gon to shit?

[url=hacktonet.com/grant-format-for-yahoo-pdf/] GRANT FORMAT FOR YAHOO [/url]

Nonsense EFCC. U don't know ur job. Is this how the economy of a nation is salvaged? Nonsense again

Forgot, bureau d change is has corrupt as anything. Though is mostly Northern, who control the majority of the dollar sells in the black market. Buhari just give them power. Even Buhari son works in Bureau de change. They re alot going on ooooo. Illiterate controlling dollars.

F4ku:
Is this how low this Government can go?
From blaming Aboki fx to this?

Well what do I expect from a Government of miambiala...

God forbid Bat thing...

Money wey dey fly out through land, sea, etc them dey wait for two airports. Tinubu, Atiku, the cabal for Aso Rock, national assembly members, governors, etc dey there them no go raid. Yeyenatu!

Them kk see tinibu , na poor men when de trade be enemy of state , ass holes

Angeldemon:
this will only make the price go up

senseless people

As the done raid there now, dollars go scarce and people with dollars go increase dollars price.These people self lack better sense

flejnr2:
Una don raid tinubu and atiku house and bring out the dollars there

Those you mentioned and more, are the reason for dollar scarcity. Tinubu gave 25k to delegates while atiku gave 50k...and their blind supporters expected them to be father Christmas in aso villa if they have any chance of winning? Common! They'd first recoup their money in multiple folds

Instead of raiding Buhari and APC politcians out of Aso Rock that caused this high dollars exchange rate....a country that is just consuming goods by importing goods..and not producing goods to export in order to earn dollars, politcians spend and waste dollars by sending their children to foreign universities to school, politcians travel abroad for medical treatment in foreign hospitals even Buhari travels to London for medical check-up.. is it not dollars they are spending and wasting over there.... and you are raiding bereau de change instead of arresting politcians that caused all this problems... nawaoooo

xevove2061:
Nigeria is the most useless country in the world right now. Person get wound for leg come use bandage tie am, you come tell am say na the bandage cause the wound in the first place. this is exactly how i feel about how useless government is.

Lebanon and Venezuela are drumming support for us to join their league

PARADIZEPRIEST:
WE DONT NEED TOO MUCH DOLLARS AGAIN because DOLLAR WILL SOON CRASH,RUSSIA IS FIGHTING DOLLARS AND CHINA TOO IS FIGHTING DOLLARS. MAKE OUR REFINERIES PRODUCE OUR PETROL AND DIESEL AND AVIATION FUEL.
STOP IMPORTING THINGS WE ARE PRODUCING HERE,PUMP MONEY TO FARMERS AND PRODUCERS.
MR BUHARI HIRE INTERNATIONAL ECONOMISTS,(GETTING CHINA TO BUILD BRIDGES,TRAINS AND ROAD IS NOT TOP PRIORITY)

GET POWER DISTRIBUTION UP FOR PRODUCERS AND BUSINESSES TO GENRATE PRODUCTS AND SERVICES THAT WITH CUT HARDSHIP DOWN

HIRE MERCENERIES TO CLEAR OUT CRIMINALS,KIDNAPPERS,TERROR WILD ANIMALS WHO CALL THEMSELVE NAMES AWAY FROM WITHIN AND OUTSIDE NIGERIA BORDERS,

SACK EMEFIALE INSURANCE LECTURER,SACK THAT WOMAN AHMED FINANCE MINISTER THAT HAS NO PROFESSIONAL QUAILIFICATION.

STOP THIS NONSENSE PLAY WITH NAIJA ECONOMY,

YOU ALL NIGERIANS ESPECIALLY THE LAZY YOUTHS SHOULD WAKE UP AND CLAMOUR FOR THIS FACTS,INSTEAD OF MAKING NOISE AND CHASING SHADOWS .
NATIONAL ECONOMY IS ABOUT INTL ECONOMISTS PUSHING,IT IS NOT WITCHCRAFT.SHIKINA!

CRYTOCURRENCY IS OF THE DEVIL.FROM ITS NAME IT IS VERY CREEPY GAME,IT CAN CRIPPLE THOSE INVOLVED ANYTIME,THEY USE CRYPTO TO HIDE DRUG MONIES,CORRUPTION MONIES AND ALL FORMS OF MONEY FROM SHADY DEALS. YOU SHOULD NOT ENCOURAGED IT,IT IS EVIL. AND LIKE CRYPTO CRASHED LAST TIME IT DEFINITELY KEEP CRASHING AGAIN AND AGAIN GOD WILLING,TILL IS NO MORE IFSHA

E be like say head dey pain you Abi?

It's not by raiding though. Yes, EFCC is suppose to be the one in charge of every thing money investigation in Nigeria, but they're going about it the wrong way. There's obviously records of how much dollar leaves the CBN adn how much is in circulation. All they need is to study these records.

Wallade:


Please read my position well, I didn't say stop BDC. I said CBN and Commercial Banks should stop selling forex to them.

There area still other private sources they (BDCs) source forex. If you know how much forex are stored and kept in people's private houses, stores and chambers. You will marvel at it.

Ordinarily, wouldn't you sell your dollar to BDC rathers than sell to the commercial banks?

BDCs will still be operating in the black market but they will not be able to buy from CBN and Commercial Banks at 420 naira and almost immediately sell in black market at 710 naira. If that practice continues, dollar will soon hit 1,000 naira per dollar.

They have stopped selling to BDC since last year.

Are they just knowing what to do?

Nigeria banks are the backbone of corrupt politicians.

okeysoninv:
They have stopped selling to BDC since last year.

That is what CBN stated last year, I hope that is the case in reality.

I guess it was the primary election dollar rain that is shooting up the dollar rate now. They mopped up the whole dollars to pay delegates, thereby causing scarcity.

Viscuz:
Chasing shadows

Black man with black sense haba

Wetting Dey pain me be say them go say INTELLIGENT REPORT

It’s always some stupid intelligence report. They didn’t need to raid. Just get one of Aboki guys to pass you intel on who is the political honcho mopping up dollars... BDC is licensed to sell forex... raiding, if no warrant, creates another illegality that might bring the issue to court; and they will cash out.

Stupid! Always going for the fingers... go for the head, damn it!

Why do we even have DSS?

OreMI22:
Nigeria with huge population, no industrial base, thieving politicians transferring their loot into hard currency. Yet they left addressing these issues and instead will be raiding bureau the change for its depreciating naira!

If we were Russia with roboust industrial base, huge oil and gas exports and small population, we would be raiding the moon now for the depreciation of the Russian currency to the US dollar.

Truly blackman's brain na wah!

The Blackman is an underdeveloped species.
Blackman = Homo sapiens
Whiteman = Homo sapiens sapiens

Toredola:
I guess it was the primary election dollar rain that is shooting up the dollar rate now. They mopped up the whole dollars to pay delegates, thereby causing scarcity.

If it was only the primary election, the demand for dollars would have eased by now.

The main election is coming up in 2023 so they are mopping dollars up as usual to bribe and pervert the system and minds of electorates.

The politicians demand for dollars for anticipated spendings during election is also a factor to address.

flejnr2:
Una don raid tinubu and atiku house and bring out the dollars there

Just imagine.

Isn't this stvpid? The only reason the naira is on a free fall is because Nigeria's econmy is almost totally import dependent - we sell nothing and import almost everything. You don't solve that by raiding bureau de change. Movons!

Naija ehn! God no go shame us!

I am buying facebook accounts at 1500. If you have old FB account that can be used to run adverts/eccormerce message me on WhatsApp 0.8.1.45.80.54.99

Lol, too much comedians in this country.

Tulumbu house nko

Over the past few days, Nigeria cases has been different. Why? Because politicians took out dollar from legal markets at a very minimal rates. Then shared the millions of the physical dollar bills to individuals who now went to black markets to exchange it because the rates are so high. Now all the dollar bills are in the hands of black marketers. The fact being that they bought out almost all the dollar from banks, legal financial institutions doesn’t have enough to give to legit businesses that truly needs it or students schooling abroad. Every these categories of people turned to black market to buy it. The deman for dollar at the black market went up so high because the banks don’t have it. You know the saying “ the higher the demand, the higher the price”, they started selling to the highest bidder. All over the world, no country allows foreign currency to be spent and used as a legal tender in a country that has its own local currency. But the buhari administration allowed it. In sane and countries where the law works, these politicians should have been in jails. But buhari allowed it under his watch. So the case of Nigeria is not a global thing, it was a clear case of incompetency and impunities.

I am a teacher based in Ikorodu, Lagos. If you know of a school looking for teachers in Ikorodu, Lagos, please contact me. I have 1.5 years of experience teaching in a Primary School. I can also teach JSS 1-3 students in your school. I am a graduate with B.A Degree in History. I can teach all kinds of subjects. Salary Range is 40,000 to 45,000 Naira. Thanks.

Call or whatsapp me on 07049598500.

Emmanuel.