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Nairaland Forum / Nairaland / General / Business / CBN To Raise BDC’s Share Capital To ₦2 Billion (14342 Views)
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Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Tap0lane: 11:19am On Feb 24 |
Na 2 billion dem cap your own bank ? oluwaseyi0: |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Biodun556(m): 11:21am On Feb 24 |
optimusprime2: Mention advance economy, even South Africa has strict rules on forex 4 Likes |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Biodun556(m): 11:22am On Feb 24 |
optimusprime2: Mention advance economy, even South Africa has strict rules on forex 3 Likes |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by InvertedHammer: 11:37am On Feb 24 |
/ They can raise it to N10 billion if they want. The oga will get the license and send his boys out at street corners to hustle for customers. The way those aboki operate within their BDC network tells that they are highly organized. One phone call and transactions happen. CBN is acting as if BDC operators are the de facto exchange rate determinants. BDC operators are filling the void that corrupt banksters are creating through arbitrage. / 3 Likes |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by EleventhWeirdo: 11:44am On Feb 24 |
EbolaTinubu: Mynd44 Seun Lalasticlala Dominique Mukina Justwise Fynestboi Jarus Rule 2 1 Like |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Yagier: 11:48am On Feb 24 |
EbolaTinubu:mumu I’m not wishing bad on anyone I’m only wishing you what you wish Nigeria cox your candidate didn’t win….you guys don’t even know what you’ve done with your chest beating in yoruba land I give you guys 5-7 years that monopoly the Igbo enjoy in business would be taking off the table soon…other tribes are waking up to how the igbos have monopolies certain businesses. 2 Likes |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Never4getU: 11:59am On Feb 24 |
nlfpmod: Dey play Northern Govs will use their state treasury in their favor instead if u think u can affect them na play u dey |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Immatex(m): 12:15pm On Feb 24 |
chidiokay: The same CBN floated the Naira with the slogan "willing buyer and willing seller". Are BDCs not fulfilling this slogan? I am not against standardising their operations, but this fire-brecade policy with it's high capital investment requirements targeted at turning BDCs to banks with high tech reporting should come in phases and not rushed. There's a risk to business survival. BDC business is not a taboo business. Its should not be eradicated which this policy is tactical aimed to achieve. The CBN is well known to blame everyone and everything except itself for the poor performance of the Naira. The country's economy as it is today is now an ethnic topic, with Yorubas now claiming to love Nigeria more than the other ethnic groups. CBN's blame sharing might end up doing the Naira more harm than good. The problem with the falling Naira is not BDCs. You can't operate a debt driven economy and expect your currency to outperform your creditor's. So this autocratic and toutish approach to economic management to attempt to please citizens is not guaranteed to work, it's simply trial and error. |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by dfrost: 12:36pm On Feb 24 |
tonicyril: They know the root of the problem, but they won't tackle it. |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by pacificom: 12:46pm On Feb 24 |
Biodun556:I think government can enforce commercial banks under tough regulations and supervised environment to sell dollars to public in lieu of BDC |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Trimjos: 12:53pm On Feb 24 |
Biodun556: Shut up there. Keep shifting goal post. As if Nigeria is an advanced economy.. |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by chidiokay: 1:14pm On Feb 24 |
Immatex: You keep talking about phases ... capital base raise sounds to me like a "one time directive" .. so how do you dice "One time" into phases Nigeria economy is on the verge of sinking, meaning we have a very limited time and here you are proposing phases on top capital base, so which year we go come move to overhauling & digitalizing the parallel market. I can excuse BDC for the devaluation of Naira Buh the present "free fall of Naira" is traceable to the BDC, cos the BDC market provide facility to harbor saboteurs, speculators and hoarders. i know the banks are not innocent buh the "black market" is the queen on the chess board ... pls let that sink For instance no matter how lucrative toyota corrolla part are, if there is no market that will buy it, that automatically exterminate the theft. However, BDC is a licensed operation what the govt can do to overhaul that sector is raise the requisite to have a sizeable operators, what is sizeable can be easily monitored. Raising the capital base for BDC is commendable and a step in right direction 2 Likes |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by EbolaTinubu: 2:05pm On Feb 24 |
EleventhWeirdo:E pain am ntooor Shut up zombie |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by ivolt: 3:15pm On Feb 24 |
oluwaseyi0: The CBN has the full answer and yet does nothing. That should tell you something. |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by ivolt: 3:20pm On Feb 24 |
tonicyril:Sentiments apart, the dollars aren't free. The CBN needs the banks and the banks make money through the process. The BDC and all regulated entities buy dollars from the bank. You might ask why the CBN does not sell the dollar directly to the buyers but the CBN is not a commercial bank and if it decides to be one, the traders currently buying from banks will still be the one buying from CBN. As to bank CEO selling to the BDC, there is no law against that, banks sell to students, travellers, importers and others at similar rate. It is not criminal to sell to BDC. |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by tonicyril: 3:57pm On Feb 24 |
ivolt:Well, this is some sense from another angle sha and it is also rooted, Unlike one slowpoke who was already play a tribal card with my comment |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Growing(m): 4:39pm On Feb 24 |
What I don't understand is how they will arrest BDC operators on one hand and then invite them to do business with requirements on the other hand. |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by PHAYOL81: 5:43pm On Feb 24 |
I guess the policy will reduce the number of BDC quite alright but we still need strict control of bank domiciliary transaction to keep the forex problems at the minimum. The participation of the banking sector in this decay is immeasurable. |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by commoditiesnig: 6:07pm On Feb 24 |
Good one.. More sanity in the financial sector |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Cmeo(m): 8:02pm On Feb 24 |
Good. I will advise every sector in Nigeria should brace up for serious regulations because we are already running a capitalist economy which requires strong regulation to have a balanced economy |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by VeeVeeMyLuv(m): 8:12pm On Feb 24 |
chidiokay:You are brutally humourous But should it be their birthright? I mean must it be their birthright? |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by VeeVeeMyLuv(m): 8:23pm On Feb 24 |
Biodun556:Na yeye country countries wey resemble Nigeria him go dey mention Visionless Leaders with diminutive intellect. 1 Like 1 Share |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by chidiokay: 9:55pm On Feb 24 |
VeeVeeMyLuv: When you are accustom to something for too long you start feeling its your birthright, if you pick something and no one challenges you or drags it with you ... it becomes your own 1 Like |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Konquest: 2:25am On Feb 25 |
nlfpmod:The Central Bank of Nigeria is considering increasing the share capital of Bureau De Change operators to N2bn and N500m for Tier 1 and Tier 2 licences. The currency operators were previously charged N35m for a general licence. This was contained in the draft paper of a “Revised Regulatory And Supervisory Guidelines For Bureau De Change Operations In Nigeria” published by the apex bank on Friday. The new guidelines contain several new changes to the guidelines for BDC operations in the country and if endorsed will be effective at a date decided by the CBN. |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by MrBroke(m): 12:42pm On Feb 25 |
2 Billy naira is much o but na politicians business so na less for them. Some might merge together and continue their venture. |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by CapitalBank: 1:11pm On Feb 25 |
HBB1: Exactly… something they will meet up and sub let to others and gain more from their license. |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by khattab02: 2:25pm On Feb 25 |
We just hope una know weytin una dey do. Make e work, this fire brigade approach shows U and Mr president were neva ready for the Renewed hope projects. |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by Ilekokonit: 12:12am On Feb 26 |
The corrupt confused government have finally realised that it is futile to shoot at the BDC operators in a free market as a way of forcing them to stop speculating on the Naira. They originally thought that bullets could be used to stabilize the Naira ?? |
Re: CBN To Raise BDC’s Share Capital To ₦2 Billion by AlphaSoul: 12:45pm On Feb 27 |
nlfpmod: |
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