Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,193,054 members, 7,949,607 topics. Date: Sunday, 15 September 2024 at 02:15 PM |
Nairaland Forum / Nairaland / General / Business / Foreign Suppliers Reject Letters Of Credit (23586 Views)
Nigeria’s Letter Of Credit Payments Fall By 63% In Q1 2024 - Nairametrics / Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market / Providers Of Business Loan, SBLC, Bank Guarantee, Letter Of Credit, SME Loan, (2) (3) (4)
(1) (2) (3) (4) (5) (6) (Reply) (Go Down)
Re: Foreign Suppliers Reject Letters Of Credit by tollyboy5(m): 2:58pm On Sep 26, 2023 |
mrvitalis:Government are meant to create policies and not create direct job. What do you mean by stabilize the naira? The effort made to curb excess importation, the portharcourt refinery and dangote refinery are what to you? What do mean by stabilize the naira? was he suppose to say " Naira! Price be still!" and boom you have a stable currency? 2 Likes |
Re: Foreign Suppliers Reject Letters Of Credit by ElSudani: 2:59pm On Sep 26, 2023 |
soccerlite: Can you please keep your insults to yourself? |
Re: Foreign Suppliers Reject Letters Of Credit by mrvitalis(m): 2:59pm On Sep 26, 2023 |
tollyboy5:Where did I say government would create job? I said policy would create job |
Re: Foreign Suppliers Reject Letters Of Credit by ElSudani: 3:00pm On Sep 26, 2023 |
tollyboy5: Lol@ " Naira! Price be still!" He is supposed to be professor Peller with a magic wand. |
Re: Foreign Suppliers Reject Letters Of Credit by erniok(m): 3:03pm On Sep 26, 2023 |
mrvitalis:Agreed that the president goofed especially floating the fx when we have no viable source or getting dollars and removing subsidy without an economic plan but those were knee jerk reactions to where the former president kept our economy. 1 Like |
Re: Foreign Suppliers Reject Letters Of Credit by emmanuelpopson(m): 3:10pm On Sep 26, 2023 |
way forward to avert catastrophe 1. reduce cost of governance...aides, special assistance and officials should be reduced for executives 2. the legislatures should also have a pay cut or allowances should be by sitting.. 3. the govt should procure agric machineries to be given to bank of agric for farmers to use in plantations of arable, cash and food crops. regions specifically know for a particular crop or foods should be taken into huge consideration. eg tomatoes, yams in the North central, garlic, onions in the north west, cassava cocoa, oil palm in the south west. doing this, we will have much food supply that will reduce food prices and inflation. Onto the cash crops, we should have local industries in processing them into FOOD RAW MATERIALS for export. these arent exportation of cash crops to help foreign companies.. 4. the parallel market should be abolish and let CBN give $$$ and other FX to banks to deal in. Sanctions shd be given to banks who fail to honor any customers FX demand. this is hard to come by but it will unify the $ market |
Re: Foreign Suppliers Reject Letters Of Credit by tollyboy5(m): 3:12pm On Sep 26, 2023 |
Itzlinda:He supported buhari to be the president, so he should feel the heat. He has just four years to prove himself right. |
Re: Foreign Suppliers Reject Letters Of Credit by plat0: 3:14pm On Sep 26, 2023 |
mrvitalis:People like you think everything is politics, where is the cash for subsidy? Where is the cash to defend the naira? Just look at the number of ignorant persons that liked your post, maybe we should make you president of Nigeria. Nigeria is in a big mess, regardless of who is president, at the moment the country is in a bad State financially. 1 Like |
Re: Foreign Suppliers Reject Letters Of Credit by mrvitalis(m): 3:17pm On Sep 26, 2023 |
plat0:You borrow... Borrow and give to business at low interest to produce what we import Restructure the former loans It's not rocket science Zambia did it, Egypt did it |
Re: Foreign Suppliers Reject Letters Of Credit by plat0: 3:25pm On Sep 26, 2023 |
mrvitalis:you borrow and borrow and you think in one year the economy will bounce back from borrowing to fund businesses? Do you know the amount of money the local content board and the NNPC has invested in refineries that are being built in Nigeria? When you borrow to give the manufacturers, how long do you think it'll take for their businesses to be up and running? Because you see everything from a political lens, you probably think Nigerians won't suffer from the past administrations ineptitude? You think a man will come and overnight they'll be jobs everywhere? 1 Like |
Re: Foreign Suppliers Reject Letters Of Credit by Obierika(m): 3:25pm On Sep 26, 2023 |
mrvitalis: It sounds good in theory until you put in in practice then you see it's not as easy as you think? Besides taking more foreign loans means you interest service cost will increase many fold! |
Re: Foreign Suppliers Reject Letters Of Credit by mrvitalis(m): 3:31pm On Sep 26, 2023 |
Obierika:You won't increase foreign debt servicing if the money is given directly to the bank and FG would just guarantee the loans |
Re: Foreign Suppliers Reject Letters Of Credit by Eriokanmi: 3:53pm On Sep 26, 2023 |
soccerlite:We're still experimenting. We're not there yet. But definitely sooner than later, we will. All these factors would be catalyst in choosing right in near future |
Re: Foreign Suppliers Reject Letters Of Credit by poiZon: 3:55pm On Sep 26, 2023 |
Adjovi:Buhari isn't better than anyone.. The boobytrap buhari set for his successor was so much, u no fit escape am. That man literally took us back to stone age.. Soon Nigerians will start cooking with firewood n sawdust cos LPG and kerosene is now competing with BTC 1 Like |
Re: Foreign Suppliers Reject Letters Of Credit by Frezhkid10(m): 4:10pm On Sep 26, 2023 |
mrvitalis:Removing subsidy was not the thing..even if we had allowed subsidy..it would have forcefully removed itself before December because there will be no more money to pay for it!!!!!!.. Can’t you see the damage we are in?!. Forward contracts had not been settled since February 2023!!!… I swear I just dy pity Tinubu because baba go dy cry now!!.. If I was him I will voluntary resign as president oooo..because this mess is too much |
Re: Foreign Suppliers Reject Letters Of Credit by Fearyourcreator: 4:15pm On Sep 26, 2023 |
mrvitalis:Obi would have used sense |
Re: Foreign Suppliers Reject Letters Of Credit by enemyofprogress: 4:30pm On Sep 26, 2023 |
I just dey laff Tinubucally |
Re: Foreign Suppliers Reject Letters Of Credit by YoshihideSuga: 4:43pm On Sep 26, 2023 |
Yankee101: The thing boggles my mind o. Nigeria defies rational economic thinking... |
Re: Foreign Suppliers Reject Letters Of Credit by Itzlinda(f): 4:47pm On Sep 26, 2023 |
Willie2015: That money is small compare to what is needed to run the economy. I agree make all of them de collect small money. |
Re: Foreign Suppliers Reject Letters Of Credit by YoshihideSuga: 4:47pm On Sep 26, 2023 |
Winning123: So, who is to blame for the oil theft? Wasn't Buhari the previous president? Wasn't he supposed to tackle insecurity in the oil rich regions? Buhari knew oil vandalism was ongoing and did nothing! Peter Obi wasn't a member of the APC or Buhari's administration. So, why blame Obi and his supporters? Why is it difficult for you Agbadorians to blame Tinubu, Buhari and APC? Is it the responsibility of LP to protect oil pipelines? 1 Like |
Re: Foreign Suppliers Reject Letters Of Credit by masseratti: 4:49pm On Sep 26, 2023 |
RepoMan007:like I said before I don't av time for political jobbers.. My main focus is the economy.. Shalom... Be cool with ur display of ignorance online for politicians.. I don't play on that league. |
Re: Foreign Suppliers Reject Letters Of Credit by masseratti: 4:54pm On Sep 26, 2023 |
ufotunang:we are not the only mono economy in the world.. Let's ask why others who are also not producing and are mini economy not having same issues we are having, What is Angola producing more than Oil.. Is their money tumbling? What is Brunei producing? Am not in d mood of listing out countries now maybe when settled from work.. But point is it's not just production, local production that is our problem.. The sole problem is having two market for one commodity in one economy. It doesn't work.. It has never worked period.. It's doomed to fail.. Close official market.. Let's everyone trade on the parallel market simple or else... Naira go still hit 10k per dollar before mid next year.. |
Re: Foreign Suppliers Reject Letters Of Credit by jahsharon: 4:55pm On Sep 26, 2023 |
BaddestQueen: Why is ex-governor Umahi supporting Tinubu. Because he hates himself, his family and his relatives? |
Re: Foreign Suppliers Reject Letters Of Credit by Emetex22(m): 5:02pm On Sep 26, 2023 |
EleventhWeirdo:You mean average in consumption of rotten gbegiri and slimy ewedu with dilapidated brown roofs full of rice bandits and active skull miners, tufia, spits |
Re: Foreign Suppliers Reject Letters Of Credit by abysirius(m): 5:32pm On Sep 26, 2023 |
Because it doesn't guarantee prompt payment any more |
Re: Foreign Suppliers Reject Letters Of Credit by SuccessfulRichi: 5:48pm On Sep 26, 2023 |
IT IS FINISHED!! BYE BYE NIGERIA[sub][/sub] |
Re: Foreign Suppliers Reject Letters Of Credit by SuccessfulRichi: 5:58pm On Sep 26, 2023 |
Cantonese: Your teams who are bunch of criminals! How will they save the economy. People that are looking for their pockets |
Re: Foreign Suppliers Reject Letters Of Credit by soccerlite: 5:59pm On Sep 26, 2023 |
Eriokanmi: You said sooner |
Re: Foreign Suppliers Reject Letters Of Credit by ufotunang: 6:06pm On Sep 26, 2023 |
PARADIZEPRIEST: masseratti:... Angola produce oil and refine their crude oil locally through their refinery into fuel, disel, and other petroleum products.....in Angola their refineries are working...so they refine their crude oil into fuel, disel and other petroleum products export this fuel , disel , and other petroleum products to other countries for sell to earn dollars, foreign currencies as revenue for their country...so that is why their money is strong and not tumbling....but in nigeria here our refineries are not working...we imporrt fuel, disel, kersone into nigeria and Nigeria is using dollars to import this fuel disel kersone...that is why dollars is scarce because the demand for dollars is high which is needed to import fuel, disel, kerosene and import other consumables goods, products for consumption..as nigeria is a consuming country...if our refineries are working .. like the Angola refineries are working...we will refine the crude oil into fuel, diisel, kerosene and export it to sell to other countries inorder to earn dollars, foreign currencies as revenue for nigeria....and dollars, forex will not be scarce in nigeria |
Re: Foreign Suppliers Reject Letters Of Credit by PARADIZEPRIEST: 6:07pm On Sep 26, 2023 |
UNA DONE DEY FOLLOW DOLLAR ENTER PSYCHIATRY ALREADY. WHAT ARE WE NIGERIANS IMPORTING THAT NIGERIA NO GET APART FROM PROPER REFINERY FOR OUR CRUDE OIL? WHAT DO WE NEEED DOLLAR FOR? TO BUY AKPU OR OKRA,OR EWEDU OR SLIPPERS OR CHEWING STICK? CHINA IS MAKING EVERYTHING FOR USA MARKET,CHINA IS DUMPING DOLLARS ALREADY TO USE BRICS CURRENCY MAKE UNA GO CHINA AND USE YUAN TO BUY YOUR MONKEY TAIL DRINKS AND MUMU THINGS UNA DEY BUY WITH UNA SKELEWU BRAINS |
Re: Foreign Suppliers Reject Letters Of Credit by PARADIZEPRIEST: 6:32pm On Sep 26, 2023 |
GHANA HAS BEEN FIGHTING BANKRUPTCY SINCE JANUARY AND NO GHANIAN SOLD OUT GHANA. THE PROBLEM WITH NAIJA YOUTHS IS THAT THEY DONT LISTEN TO WORLDNEWS,SO THEY THINK THEY ARE THE ONLY ONE SUFFERING IN AFRICA. NIGERIA IS ACTUALLY A LAND OF MILK AND HONEY,IF YOU GET YOU GO DRINK GARRI AND GROUNDNUT TILL D PAY COME Nigerian people will be alot better if they share to care and show love to those wey no get. |
Re: Foreign Suppliers Reject Letters Of Credit by frankson1(m): 7:11pm On Sep 26, 2023 |
masseratti: The CBN governor and deputies were confirmed today so let's see how they can change things. I think the FG and CBN should embrace electronic banking system. |
(1) (2) (3) (4) (5) (6) (Reply)
First Bank Debtors. Starcomms Owing N40b / $10bn Chevron Escravos GTL Produces First Liquids / How Can I Get My Own Credit Card In Nigeria
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 66 |