oluwaseunla:


I managed a fleet at some points for e hailing. The business is not what it used to be. I will advise you to perish that idea immediately. There are just too many things that can go wrong. You will very likely not recover your capital.

TransAtlanticEx:
Matbe you managed the fleet wrongly and tan it to the ground,have you also thought about that?
Transportation is a very good business and should be encouraged,not saying things like this.

oluwaseunla:


Transportation yes. Uber No. Not at the moment, not with the present fares. You want to try it, by all means. After all, its your money.

TransAtlanticEx:
I don't have time for passenger transport,I love cargo more.
But if you want to tell somebody how bad a business is,provide facts and not try to lord your thoughts about the business over the person.
It would have been more productive if you tell him;
Drivers are thieves
Petrol is dear
Fares are low,etc...
So he knows if he can manage or not,not just to say it's bad business
I actually know some people doing quite well from it too.

ahiboilandgas:
The naira gained slightly on Friday, exchanging for N470/$ in the parallel market in the evening, after selling at N476/$ in the morning.

This followed the Central Bank of Nigeria’s announcement on Thursday to resume forex sales to the Bureau De Change segment of the market.

In a circular on Thursday, the CBN said, “As part of efforts to enhance accessibility to foreign exchange particularly to travellers following the announcement of limited resumption of international flights by the Honourable Minister of Aviation, commencing with Abuja and Lagos, the Central Bank of Nigeria hereby wishes to inform the general public that gradual sales of foreign exchange to licensed BDC operators will commence with effect from September 07.

“Consequently, purchase of foreign exchange by BDCs shall be on Mondays and Wednesdays in the first instance.”

The President, Association of Bureaux De Change Operators of Nigeria, Alhaji Aminu Gwadabe, said, “The naira has gained over $5/$ today at the close of business due to only announcement of the resumption of sales to the BDCs as it closed at N470/$ from all high of N476/$ in the morning.

“With the take off of the policy, we expect a strong naira positivity in the market.”

He said the BDCs had always remained the potent monetary tool of the CBN exchange rate stability instrument.

Gwadabe said, “The resumption of sales to the BDCs will in no doubt inject a robust liquidity to the critical retail end sector of the market and usher in stability, discourage, hoarding and speculation.

“ABCON has embraced innovation, awareness and capacity building measures to guide members and ensure their total compliance with extant foreign exchange regulations.”

oluwaseunla:


Ok sir.

TransAtlanticEx:
Bros why are mallams still buying dollar 470 upon day CBN dey misyarn.
Does it mean CBN and naira don cast

ahiboilandgas:
u are mistaking a street malam hustling dollars with a bdc operator that have to document each retail buyer and file income statements to the cbn ....the street malam is a buyer and seller for small margins...at any point he make to survive .....he buys 470 sell 475 or 380 sell 390 notting concern am ...the bdc is different 5000 operators with 70m capital to set up and get 30k dollar from cbn and sell at a regulated rate with documentations.....why are u in haste ? International travel will start on sep 5 traveller will get their pta and bta at 380 aboki can keep his 470 dollars

TransAtlanticEx:
Pure balderash...
Nothing changed!Maintained same price from morning to evening and usually rates fall on fridays cos its weekend,not because of any CBN trash
If it fell due to CBN,we all know it won't be in the 400 range by now still

ahiboilandgas:
ok u think u have more info more than cbn and it staffs ?have u ever been to the cbn office in abuja to see the think tank warehouse there ...u think it this cheri kambia analysis me and u do here ...to make me laugh.....u dont even have data of weekly dollar demand and capital importation..

TransAtlanticEx:
I am in a haste?by now the scare alone should drive the price to 300 range.
We all saw what happened a few weeks ago when CBN injected $100mln in the forex market.
What documentation are you talking about?Do you think I am a child?
If you don't give somebody goods to sell,will you come and ask him how much he sold the ones he got from alternative sources?
Nigga please!

TransAtlanticEx:
Well their think tank is obviously useless,reason why smugglers and contraband experts determine their currency pricing.
What a think tank

Chibexe:
Good morning seniors in the house.

I'm planning to liquidate my investment in mutual funds and use the funds to buy two cars for Taxify/Uber business. I plan giving those cars on high purchase with weekly returns from the drivers I also have plans of buying insurance for the two vehicles. Kindly advice me, those that have ventured into this line of business before or anybody with vital information that will help me.

Thanks.
Buzor

ahiboilandgas:
so u dont even do bdc do documentations after each bids ..

oluwaseunla:


I managed a fleet at some points for e hailing. The business is not what it used to be. I will advise you to perish that idea immediately. There are just too many things that can go wrong. You will very likely not recover your capital.

ahiboilandgas:
i no get strength for inproductive convo ....cbn remains the main source of dollars to Nigeria....

TransAtlanticEx:
I ask you a simple question.
You've not supplied bdc for almost 5 months now,they now patronise currency smugglers,so tell me;
WHAT DOCUMENTATION DO YOU WANT THEM TO SHOW YOU?
You go give person goods first before you ask him for his sales sheet to check if he is sticking to price agreements na.

ahiboilandgas:
have u read the statements and press release or still sleeping ...they cbn says it will resume sale on 30 or 5 sep when international air travel begins...why will cbn give them dollars before then when no travelling customers ....

Chibexe:
Good morning seniors in the house.

I'm planning to liquidate my investment in mutual funds and use the funds to buy two cars for Taxify/Uber business. I plan giving those cars on high purchase with weekly returns from the drivers I also have plans of buying insurance for the two vehicles. Kindly advice me, those that have ventured into this line of business before or anybody with vital information that will help me.

Thanks.
Buzor

einsteine:



Are you familiar with banking at all?

Yes, the money is in domiciliary accounts in Nigerian banks, that does not mean that it has also not been lent out to Dangote.

It's just like saying SMEs are looking for loans yet there are trillions of Naira in Nigerian bank accounts.

Leezah:
If you are not going to drive it yourself. It will only end in PREMIUM tears.

deepwater:


He actually thinks the banks particularly print money to loan people like dangote and his xxxx pharmaceutical that want to buy sulphuric acid.

He has no idea the percentage of the local masses deposit in banks makes for provision of loans to the individual capitalist.

He doesn't know that there must be the more proletariat to get few bourgeoisie

Nigsrdumb:


He was talking about forex. Do Nigerian banks loan out money in forex, if the answer is no. Then his argument still makes sense.

The naira part is understood

Nigsrdumb:


He was talking about forex. Do Nigerian banks loan out money in forex, if the answer is no. Then his argument still makes sense.

The naira part is understood

Nigsrdumb:


He was talking about forex. Do Nigerian banks loan out money in forex, if the answer is no. Then his argument still makes sense.

The naira part is understood

deepwater:


He actually thinks the banks particularly print money to loan people like dangote and his xxxx pharmaceutical that want to buy sulphuric acid.

He has no idea the percentage of the local masses deposit in banks makes for provision of loans to the individual capitalist.

He doesn't know that there must be the more proletariat to get few bourgeoisie

Nigsrdumb:


He was talking about forex. Do Nigerian banks loan out money in forex, if the answer is no. Then his argument still makes sense.

The naira part is understood

Nigsrdumb:


He was talking about forex. Do Nigerian banks loan out money in forex, if the answer is no. Then his argument still makes sense.

The naira part is understood

oluwaseunla:


Transportation yes. Uber No. Not at the moment, not with the present fares. Not with the rumors of new regulations from the LASG. You want to try it, by all means. After all, its your money.

ahiboilandgas:
ok u think u have more info more than cbn and it staffs ?have u ever been to the cbn office in abuja to see the think tank warehouse there ...u think it this cheri kambia analysis me and u do here ...to make me laugh.....u dont even have data of weekly dollar demand and capital importation..