TransAtlanticEx:
How would you talk of "unusual deposit" in a BDC operator's business account?
These people have this types of history since so what do you mean by unusual deposit?
Mallam weh dey carry 10m go bank everyday cash go get 20m deposit and you begin to question him?
Does he look like a salary account holder to you?
Jeez

Bros, I know a known mallam/BDC somewhere around my corner, who helps working boys and cooperate men earning legit petro-dollars move things around got his account blocked, not sure why.

CBN can see everything, they can for sure decide to do nothing.

ahiboilandgas:
have u ever seen a bdc licence? This your read the operational guidelines ? Have u seen the amended policy documents on filing returns and audited accounts to FIRS,do u know BDC have 35m deposites with the CBN ?do u know the fines payable for misbehaving ...

Of course I know there are penalties for flouting procedures.
But mallams aren't stupid to come yesterday to deposit 30m in their account for bid.
They've done so a long time ago and in bits within legitimate limits
Tomorrow no far,let's wait and see.

.

Wiseoldman:


Bros, I know a coorporate mallam/BDC somewhere in the south who help young boys earning legit petro-dollars move things around got his account blocked, not sure why.

CBN can see everything, they can for sure decide to do nothing.

If they could see everything,why haven't they succeeded to curb illegal BDC?
Shebi they now have God's eye at the CBN?
Look a foolish criminal can always make mistakes and get nabbed,not that the CBN is a supernatural authority that can lick the floor and tell a story.

[quote author=TransAtlanticEx post=93606637]You think mallams are stupid abi?
CBN gave the directive for them to fund their aza since a week ago,so automatically they've been funding it in bits since then na.
Tomorrow no far,we dey wait the 360 ooo[/que]calm down .when CBN say fund BDC accounts it doest mean to deposit 1 billion into the accounts ( that money laundering) it mean deposit equivalent of 20k dollars at 385 (7.7m) this will be debited and credited with 20k dollars cash and u file returns of how the sale goes to retail users not contraband dealers or speculators ( u have to collect passports,airtickets) and name of those persons to be submited back to cbn...

TransAtlanticEx:
If they could see everything,why haven't they succeeded to curb illegal BDC?
Shebi they now have God's eye at the CBN?
Look a foolish criminal can always make mistakes and get nabbed,not that the CBN is a supernatural authority that can lick the floor and tell a story.

They look the other way, that's why.

Hove you wondered why "most" high-profile kidnappers get caught in Naija?

:-)

TransAtlanticEx:
If they could see everything,why haven't they succeeded to curb illegal BDC?
Shebi they now have God's eye at the CBN?
Look a foolish criminal can always make mistakes and get nabbed,not that the CBN is a supernatural authority that can lick the floor and tell a story.

u are mistaking Bdc to any aboki seller dollars ...A BDC is a registered firm with CAC and a share capital of 35m with a minimum of bsc holder as a director and a verified office address..additionally u must deposit 35m in the CBN ...an aboki dollar seller can be any body .just have your capital and buy from sellers at lower rate and sell at a higher rate for margins....

[quote author=ahiboilandgas post=93606901][/quote]Excuse me,you can have even 20m in your account and CBN will just debit their $20k naira equivalence.When they say fund account,its a notification to people who don't have funds in their aza,not that you must have sharp $20k equivalence in your account.
I wonder who you think you are telling all these things
What do you mean by you've got to return a catalogue to the CBN of your patrons?
Abeg who don go to buy dollar before from aboki them ask am of his personal data abeg?maybe I'm getting too old

ahiboilandgas:
u are mistaking Bdc to any aboki seller dollars ...A BDC is a registered firm with CAC and a share capital of 35m with a minimum of bsc holder as a director and a verified office address..additionally u must deposit 35m in the CBN ...an aboki dollar seller can be any body .just have your capital and buy from sellers at lower rate and sell at a higher rate for margins....

I know the difference between bdc and aboki please,don't insult my intelligence.

Wiseoldman:


They look the other way, that's why.

Hove you wondered why "most" high-profile kidnappers get caught in Naija?

:-)

They make mistakes,not that there is some magic authority watching them like God's eye.
What do you mean by "they look the other way"?
Do you mean the CBN knows its currency saboteurs and chose not to act?

TransAtlanticEx:
If they could see everything,why haven't they succeeded to curb illegal BDC?
Shebi they now have God's eye at the CBN?
Look a foolish criminal can always make mistakes and get nabbed,not that the CBN is a supernatural authority that can lick the floor and tell a story.

must illegal dollars traders became Bdc owners after prof soludu licence them in 2004 then license was 5m ....we now have 5000 bdc s and registerd association (Abcon) which u must belong to before licence....soludu accepted the this illegal forex dealer are significant to the stability of the rates and in having a convergence of rate BDC was linsence by cbn and funded ...

ahiboilandgas:
The cbn is not sleeping, separating fake demand from real demand . 38 firms hoping to speculate next week are out of the race .the boys hoping to mop up are out . No naira instruments to speculate, illiquid asset cant be converted to cash immediately .......360 naira to dollar loading .....if u like use for Naira buy dollars and deposit inside your dorm accounts (pnd) it will be restricted by cbn via your bnv...

360?
Are you expecting bdc to sell below the price they will buy from CBN?

Of course CBN sees high-profile cash movements.
And CBN also sees what it wants to see.
This is Nigeria and many are above the law.

Also 2 elections are coming.
Forex is needed.

Lazyyouth4u:
I am not for speculation o but GBP at the moment is the currency to place your bet on if you are risk averse. USD is overrated

You want people to invest in GBP that’s currently at a peak, and avoid USD which is currently at a weak level? Lol. What an investment advice.

TransAtlanticEx:
They make mistakes,not that there is some magic authority watching them like God's eye.
What do you mean by "they look the other way"?
Do you mean the CBN knows its currency saboteurs and chose not to act?

Do u know the Work of Nigeria financials intelligence unit ? NFIU .all money .above 5m transfered within the ..the system and 3m for individual is ....reported by bank to them ...

ahiboilandgas:
Do u know the Work of Nigeria financials intelligence unit ? NFIU .all money .above 5m transfered within the ..the system and 3m for individual is ....reported by bank to them ...

How would they know which transfer is legit and which isn't?
Thousands of 5m transfers go on daily in Nigeria,how do they sieve this volume of data in a day?
And why will I transfer above 5m when I can do 4m today and 4m tomorrow if I want to remain anonymous?

TransAtlanticEx:
I know the difference between bdc and aboki please,don't insult my intelligence.

so who did u say will fund 20m ?to bid ? Aboki or bdc ..

ahiboilandgas:
must illegal dollars traders became Bdc owners after prof soludu licence them in 2004 then license was 5m ....we now have 5000 bdc s and registerd association (Abcon) which u must belong to before licence....soludu accepted the this illegal forex dealer are significant to the stability of the rates and in having a convergence of rate BDC was linsence by cbn and funded ...

Lol, this number is crazy.
Which forex are they exchanging?
Kenya has about 80 forex bureaus, Nigeria 5,000.
For retail customers o.

TransAtlanticEx:
How would they know which transfer is legit and which isn't?
Thousands of 5m transfers go on daily in Nigeria,how do they sieve this volume of data in a day?
And why will I transfer above 5m when I can do 4m today and 4m tomorrow if I want to remain anonymous?

do u see it on transfer forms ? Have u heard the world algorithms ? It can predict any data within seconds ....if u want to know any unusual cash movement electronically within the banking sector na just click...how do bank know u qualify fow loan it computer algorithms

SamReinvented:


You want people to invest in GBP that’s currently at a peak, and avoid USD which is currently at a weak level? Lol. What an investment advice.

You are God that you know the GBP is at its peak and the USD at its lowest point. Right? Just listen to yourself. Please shut the hell up if you have nothing to say and mind you, I never gave anyone investment advice.

I really don’t like to comment on threads, as I prefer to just observe. But... I wanted to do something for humanity today.

For those who have ears, you really should listen to awesomej and sell your dollars if you still have some right now at this late hour. The price is gonna balance with the official rate soon.

I don’t need anyone to believe me or counter me. Na just advice I dey give. I already made my own buck. Converted all my naira savings/investments to USD at 370 back in March when I felt the pressure coming. I converted all of them back to naira at 470 immediately they announced opening of the international airport (As I knew BDC would have to open to retailers). I have successfully dodged the bullet of devaluation and inflation and even gained a lot. If you are still holding dollars, OYO is your case o, unless you’re willing to wait another 4 to 5 years, when something drastic would happen and there’d be pressure again on the currency.

Okay, bye for now.

Cyberknight:


Lol, this number is crazy.
Which forex are they exchanging?
Kenya has about 80 forex bureaus, Nigeria 5,000.
For retail customers o.

many dont even have the 7.7m to bid weekly,some are own by same gangsters to access 20k x10 bdc every.week

SamReinvented:
I really don’t like to comment on threads, as I prefer to just observe. But... I wanted to do something for humanity today.

For those who have ears, you really should listen to awesomej and sell your dollars if you still have some right now at this late hour. The price is gonna balance with the official rate soon.

I don’t need anyone to believe me or counter me. Na just advice I dey give. I already made my own buck. Converted all my naira savings/investments to USD at 370 back in March when I felt the pressure coming. I converted all of them back to naira at 470 immediately they announced opening of the international airport (As I knew BDC would have to open to retailers). I have successfully dodged the bullet of devaluation and inflation and even gained a lot. If you are still holding dollars, OYO is your case o, unless you’re willing to wait another 4 to 5 years, when something drastic would happen and there’d be pressure again on the currency.

Okay, bye for now.

I don't think it will take another 4 to 5 years for the naira to feel more heat.

ahiboilandgas:
so who did u say will fund 20m ?to bid ? Aboki or bdc ..

I used the term aboki cos both entities are run by the same people.
Meanwhile I'm sorry if anyone found the term derogatory.
It wasnt meant to undermine anybody but for easy conveyance of message,thanks.

Lazyyouth4u:

You are God that you know the GBP is at its peak and the USD at its lowest point. Right? Just listen to yourself. Please shut the hell up if you have nothing to say and mind you, I never gave anyone investment advice.

Investment 101: Always buy low, and sell high

A good investment advice would be to tell people to buy USD now that it is weak, and sell GBP which is on a high rate. But you are saying the opposite. Anyway, do you, my friend. . Na you get your money. Lol.

pluto09:



360?
Are you expecting bdc to sell below the price they will buy from CBN?

opps 384 my brain still stuck to 360...any way i can still buy from certain source 350 now ....OuR source...if u know u know...

ahiboilandgas:
many dont even have the 7.7m to bid weekly,some are own by same gangsters to access 20k x10 bdc every.week

Exactly.
I think their number should be slashed. They're too many.

TransAtlanticEx:
I used the term aboki cos both entities are run by the same people.
Meanwhile I'm sorry if anyone found the term derogatory.
It wasnt meant to undermine anybody but for easy conveyance of message,thanks.

nope is not derogatory. ABOKI MEAN FRIEND like iyamiri mean give me water ( give me water during civil.war) among the 5000 bdc over 2000 are owned by non abokis , the aboki is the visible end of the supply chain willing to.hang on the streets to buy 10 ,10 dollars to.move up the supply chain to the main guys the aboki is contented with small profits while the unseen real G mop up everthing chilling inside a.c

ahiboilandgas:
do u see it on transfer forms ? Have u heard the world algorithms ? It can predict any data within seconds ....if u want to know any unusual cash movement electronically within the banking sector na just click...how do bank know u qualify fow loan it computer algorithms

Oga I know any transaction history can have its details brought to light by a single click under a second.
But the question is,how do you identify which is legit and which is shady?
Algorithms don't go into the minds of people to know why they are transferring what funds.
They are just an electronic bank for data and how to group categories electronically.
Eg I might be transferring 4m tomorrow to pabod.
Chiedu might be transferring same 4m to Joshua tomorrow for backdoor forex deals,etc...
An algorithm of all 4m transfers that took place tomorrow will bring up the names of chinedu and I.
But you need a solid lead to know or even suspect why I transferred that 4m to joshua.
I hope you get me.
Algorithms are not magic.Humans make mistakes which lead to leads,then algorithms,some switching before apprehension.
Without a lead,your algorithm is useless.

ahiboilandgas:
nope is not derogatory. ABOKI MEAN FRIEND like iyamiri mean give me water ( give me water during civil.war) among the 5000 bdc over 2000 are owned by non abokis , the aboki is the visible end of the supply chain willing to.hang on the streets to buy 10 ,10 dollars to.move up the supply chain to the main guys the aboki is contented with small profits while the unseen real G mop up everthing chilling inside a.c

This is true.
I will stop inter changing them henceforth.
Thanks.

Cyberknight:


Exactly.
I think their number should be slashed. They're too many.

many are not having capitals to trade and depend on investor on 40 /60 share....and many apply for 35m.once profit and margins are dowm like 2019 bdcs went from 500k weelky profit to 30k profit (can fund operations)..

Cyberknight:


I don't think it will take another 4 to 5 years for the naira to feel more heat.

Maybe, maybe not. It depends. With Dangote refinery alone, there would be huge drop in FX demand, due to drop in petrol import and a consequent big influx of FX from his exports. Now, BUA has also announced the commencement of another huge refinery. The catch word in the business sector right now is “manufacturing and export“... and with our follow follow mentality, I kinda see a lot of others in the private sector diverting towards exports in the coming years, unless Buhari government issues out another shitty policy to ruin the excitement.

I’m not betting on anything sha, as this is Nigeria afterall. Making such predictions is pointless. But one thing I can tell is, the pressure on the naira has gone full cycle for now. Nothing interesting would happen again for a while.

But hey, I might just be saying nonsense. Anyone that disagrees can buy their FX in peace ooo.