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Nairaland Forum / Nairaland / General / Politics / FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi (18749 Views)
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FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by chisomkachy: 7:30am On Feb 25 |
The recent reported attacks and disruption of the business activities of Bureaux de Change (BDCs) operators in different urban centers across the country by Government Agencies, are ill-advised and wrongly directed. Peter Obi 208 Likes 22 Shares
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Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by OPICANTO2223: 7:34am On Feb 25 |
They will still attack you PO. Stop giving them ideas on how to rule Nigeria. Hmmmmmm 254 Likes 19 Shares |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by jmoore(m): 7:34am On Feb 25 |
Tinubu's advisers and cabinet are operating like Ahitophel who was advising Absalom. The stupidity in using guns to solve forex crisis. 223 Likes 13 Shares |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by archangel1(m): 7:35am On Feb 25 |
Tomorrow Emiliokans will tell you he doesnt give constructive critiscms and proferring solutions. 185 Likes 11 Shares |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by magoo10(m): 7:39am On Feb 25 |
the cbn is acting more like they are in competition with the bdc operators. the official rate the cbn peg the dollars is still high and most likely will result to the bdc operators selling higher. fight corruption holistically stop wattages by public office holders stop thieves, politicians who have stored monies in naira from converting them to dollars and re storing them. be a massive production exporting country . 141 Likes 5 Shares |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by Seefinish: 7:44am On Feb 25 |
Fela, CSU accountant wey he knows know him work na wety? 15 Likes |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by NPFLADMIN(m): 8:01am On Feb 25 |
What 9ja needs na Job creation.(including agriculture) The private sector no fit do am becausd they are worn out by the economic challenges. Na some1 tell me ooo I don't know much about economics. 11 Likes |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by frankyychiji(f): 8:01am On Feb 25 |
This is very true. The present fire brigade approach is just window dressing. 104 Likes 4 Shares |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by Ojemedad: 8:02am On Feb 25 |
Tell dem[b] The only way to shore up the value of our currency is to move the country from consumption to production, especially export-led production, and fight corruption, which allows unproductive money to pursue the available supply of foreign currency.[/b] This is the only solution 78 Likes 1 Share |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by bonechamberlain(m): 8:02am On Feb 25 |
Move from consumption to production. 67 Likes |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by YourNextLevel(m): 8:02am On Feb 25 |
Obi is called "Try your luck" Please guys who can guess what they will try this week ? 7 Likes 2 Shares |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by ideatoprince18(m): 8:02am On Feb 25 |
Tell them oooo ... if only they have ears to listen. Make dem fey do all these their fire brigade approach!! 46 Likes 1 Share |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by jumper524(m): 8:02am On Feb 25 |
The raid was not on bdc but on those Mallam engaged in an already outlawed activities. BDC operators were only slammed with regulatory policy so as to tighten the loop holes they exploited. The naira has been on steady gain ever since and today it's 1600. I'm sure Peter obi was the same person who clearly stated you don't remove a teeth just like that because it aches you. Corruption, underproduction are part of our problem, we aren't pleased with that but then we don't allow a new problem of negative speculation develope into a critical one because we are fighting a much bigger problem. Problem in it's self is well managed at an initial stage. 52 Likes 5 Shares |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by Okoroawusa: 8:03am On Feb 25 |
Abeg Gerrout! 119 Likes 6 Shares |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by MikoB: 8:03am On Feb 25 |
There is no place in any developed country, that you will find trading of foreign currencies carelessly on the streets like in nigeria, both registered and unregistered, illiterates etc, that do not not even know the basic knowledge of economy are allowed to free-trade the currencies in nigeria. I am in support of clamping down on the street trade and I am suggesting apart from the airports, every other currency trade should be done in the banking hall, every bank should create a space for a registered bdc transaction for a better monitoring. 57 Likes 9 Shares |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by CilicMarin: 8:04am On Feb 25 |
Peter Obi know nothing other beer factory. The naira has been on steady appreciation, since all the reforms and crackdown are going on. Check the rate this morning. 45 Likes 9 Shares
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Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by Tapout(m): 8:05am On Feb 25 |
Consumption to production....simple. Today, we still import pure water pack (nylon) from china. 19 Likes |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by jumper524(m): 8:05am On Feb 25 |
NPFLADMIN:the fact that production is part of our problem doesn't mean if the dollar moves to 15k naira to a dollar we would accept. Yes lack of production is a problem but don't exploit us beyond our reach. Trust me if demand and supply was the major player in currency trade crisis killing our naira, there would be absolutely no seller of the dollar available at the moment as many individual would have bought it at the cheaper rate it reduced to in recent times. But then steady availability and steady decline means speculation has been eliminated and no panic buying at the moment. 8 Likes 3 Shares |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by AngelicBeing: 8:06am On Feb 25 |
jmoore:Lol at Ahitophel , and all the counsel of Ahitophel was turned to foolishness ![]() 4 Likes |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by dettolgel: 8:07am On Feb 25 |
jumper524: Go to Amsterdam, Brussels, Antwerp, Rotterdam you will find their equivalent of Mallams. We have the habit of destroying people's business as a way of punishment. Government could have simply given them 2 weeks to register and that their representative should bring the list of registered Mallams in their district. During a raid if an unregistered Mallams are seen government will fine the Mallams in charge of that area 5 million naira for each unregistered Mallam operating there and the fine should be paid within 5 business day or they will be prosecuted and their licence withdraw. That way the Mallams will also be part of the enforcers no business destroyed no body is being harassed, government is making cool cash and mallams are feeding their children. APC can use the idea I won't complain as long as it moves the country forward. 43 Likes 1 Share |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by meditator(m): 8:07am On Feb 25 |
bonechamberlain:Just as he did in Anambara, which is the hub of production amongst the states of the country 119 Likes 3 Shares |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by adamusuleiman2: 8:07am On Feb 25 |
chisomkachy:In Nigeria, the dollars end up in the unregulated BDC market ie. The people selling currency on road sides which is an eye sore. BDC in good countries don't operate like the ones in Nigeria and they are extremely regulated like a regular financial organization. Nothing wrong in the government going after the ilegal ones. Ps: The government is using several tools. Clamping down on BDC is NOT the only approach being used. It's just one of several tools. 104 Likes 7 Shares |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by emnite(m): 8:07am On Feb 25 |
Well said if only they'll hear 1 Like |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by designking: 8:07am On Feb 25 |
Currency hawkers or Mallams that sell dollars in some streets and markets are not BDCs. Their activities is illegal and CBN must clamp down on them to stop their illegal activities. 108 Likes 3 Shares |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by Godoverevery: 8:07am On Feb 25 |
Nawa oo Northerner into this business been arrested are not complaining. There leaders are not complaining Na one busy body that must always talk and critique everything in another region dey cry more than the bilreved. How many country he visited and he saw there citizens selling and buying dollar by the road side ![]() They can never mind there God damn business. 24 Likes 4 Shares |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by plessis: 8:09am On Feb 25 |
Economics no be thuggery and ballot box snatching. 7 Likes 1 Share |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by owiko(m): 8:10am On Feb 25 |
D |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by Frigga13: 8:10am On Feb 25 |
Okoroawusa: Why are you pained? You guys should be patriotic... it’s about Nigeria.. not Obi 17 Likes |
Re: FOREX Crisis: Raid On BDCs Ill-Advised, Wrongly-Directed - Peter Obi by MediaTalkAfrica: 8:10am On Feb 25 |
CilicMarin: You can always follow the rate here https://mediatalkafrica.com/binance-p2p-daily-exchange-rate/ 1 Like |
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