RalphJean:



I ain’t no economist, but the bolded sounds like voodoo economics to me.

The powerful currencies of the world ARE NOT FALLING against the naira. It’s the Naira that is regaining from its woeful performance.

Voodoo economics:
At the beginning of this year, £1 = NGN 450
Today, it’s 565.

As per your enonometrics, if it ends the year at 500, it’s a Win for the naira.
But that’s not true, it will be a lost for the naira, year-on-year.


Like I said, I’m not an economist but (IN MY OPINION), this your analogy get K-Leg

I'm actually over excited because of the heat its having on some acquaintances.

In real sense folks had hoarded forex to create artificial scarcity putting pressure on our foreign reserves while their accomplises were shorting naira.

The reversal of remittances back to cold cash was unexpected and so to avoid making significant losses there is serious or should I say massive dumping of forex.

If Naira goes below 500 to £1 that will be suicidal for many hoarders. Christmas will really be a two-pronged fork.

Let's sha celebrate little little wins. No be everyday good news dey comot from that country.

Chukwuka16:
Permit me house this evening to modify this old time song just for the moment.

Falling down, down, down,
Falling down, down, down,
All the powerful currencies of the world (£ and $) are falling down,
Me as I dey here I dey smile,
I dey thank God everyday,
All the powerful currencies of the world are falling down.

I have just checked abokifx (BDC rate) this evening and it is 565 buy and 530 (100 Naira drop in 24 hours) sell for £1. It is now cheaper to buy forex than to sell it.

500 loading as long as spending restrictions are not lifted from our Naira cards.

It seems adversity will finally reset the brain of this government.

Back to my hymnal......be still for the power of the Lord is moving across Nigeria!

First term: Mr A scored A* in Economics while Mr B scored B*

Second term: Mr A scored A* in Economics Again, but Mr B scored an F9.

Third Term: Mr A scored A* yet again, while Mr B scored C-

Mr B now goes gaga in joyful exultation and Doxologies, claiming that his F9 to C- ‘improvement’ meant that Mr A is falling down?

Ahdongerrit.

Mamatukwas:


This would be lovely oh but my Abokifx is still showing much higher rates. Am I checking the wrong place

Check the BDC rates not parallel market (these ones will adjust on Monday).

RalphJean:


First term: Mr A scored A* in Economics while Mr B scored B*

Second term: Mr A scored A* in Economics Again, but Mr B scored an F9.

Third Term: Mr A scored A* yet again, while Mr B scored C-

Mr B now goes gaga in joyful exultation and Doxologies, claiming that his F9 to C- ‘improvement’ meant that Mr A is falling down?

Ahdongerrit.

See lets not use that analogy for Nigeria.

You are right to note that the improvement isn't at par with its stance at beginning of the year.

My take is lets view from another perspective considering that Naira was going to the dustbin at 700-1000 to £1.

What CBN has done is target the month of excess forex inflow into the country and use fiscal policy to force a readjustment of the currency. Hopefully by 2021 fluctuations should be within reasonable range.

Don't forget that this is the first in a very long time when the spread between buy and sell is negative (reversed).

I'm beginning to respect the CBN governor. He might have his issues but it seems for once the govt is getting its act together.

In case you don't know, the new finance act should be signed into law by year end while CAC is going fully digital. I'm not saying they deserve a pat on the back but it seems sense is gradually coming to the fore.

Chukwuka16:


Check the BDC rates not parallel market (these ones will adjust on Monday).

Thank you. Seen.

Chukwuka16:


Check the BDC rates not parallel market (these ones will adjust on Monday).

Check moneyfex..605, Ace money ..600

justwise:


Check moneyfex..605, Ace money ..600

As per CBN's new policy, naira remittance is a dying breed. All aboard the cold hard $ remittance train.

Allowing recipients to receive forex will flood the street market and drive down demand. That will positively affect Naira exchange. It's a temporary solution but it's a solution still.

I don't know the long term solution, i don't know if there's one aside increasing our forex earning potentials and providing enabling environment to attract FDIs. While we are waiting for the government to do this, we can use the temporary solution and deal with the implications later.

Lexusgs430:



And when did $ become a legal tender in Nigeria?......

Would ìyá basira collect $, for my plate of pounded yam, egusi soup and kpomo?.....

Would ìyá basira also offer me my change, either in $ bills or $ coins?......

contra:
Allowing recipients to receive forex will flood the street market and drive down demand. That will positively affect Naira exchange. It's a temporary solution but it's a solution still.

I don't know the long term solution, i don't know if there's one aside increasing our forex earning potentials and providing enabling environment to attract FDIs. While we are waiting for the government to do this, we can use the temporary solution and deal with the implications later.

Contra, more like contraindication.......

You and I know, they have no long term solutions.......

justwise:


Check moneyfex..605, Ace money ..600

let us see how it goes , remited N620 to my bank 3 days ago

contra:
Allowing recipients to receive forex will flood the street market and drive down demand. That will positively affect Naira exchange. It's a temporary solution but it's a solution still.

I don't know the long term solution, i don't know if there's one aside increasing our forex earning potentials and providing enabling environment to attract FDIs. While we are waiting for the government to do this, we can use the temporary solution and deal with the implications later.

This is a dream!

Chukwuka16:
Permit me house this evening to modify this old time song just for the moment.

Falling down, down, down,
Falling down, down, down,
All the powerful currencies of the world (£ and $) are falling down,
Me as I dey here I dey smile,
I dey thank God everyday,
All the powerful currencies of the world are falling down.

I have just checked abokifx (BDC rate) this evening and it is 565 buy and 530 (100 Naira drop in 24 hours) sell for £1. It is now cheaper to buy forex than to sell it.

500 loading as long as spending restrictions are not lifted from our Naira cards.

It seems adversity will finally reset the brain of this government.

Back to my hymnal......be still for the power of the Lord is moving across Nigeria!

The person who put in the record of BDC for 4the and 5th obviously made an error so best not to jubilate just yet ......... the parallel market page is showing a different picture and showing it going up from friday .... some money exchange like moneyfex it was 600 before , as it gone up they too have reflected it and it now 605 today (it went up in one day) even Rewire rate went up by Saturday. These people in moneyfex would have done their home work and check what on ground in naija. No exchange is in the business to lose money .

Next week you probably will see this your post be as e get....the naira / buhari will bring out you leg oo

Also see this article in the same Abokifx , dated today dec 5
https://www.abokifx.com/news/nigerian-currency-loses-1-1-against-usd-at-parallel-market-business-post?type=market

Chukwuka16:


As per CBN's new policy, naira remittance is a dying breed. All aboard the cold hard $ remittance train.

i think we are missing the point, the high street remitance in the Uk where set up by
A 9ja FG
B 9ja Buru De Change
C Me n U ?

contra:
Allowing recipients to receive forex will flood the street market and drive down demand. That will positively affect Naira exchange. It's a temporary solution but it's a solution still.

I don't know the long term solution, i don't know if there's one aside increasing our forex earning potentials and providing enabling environment to attract FDIs. While we are waiting for the government to do this, we can use the temporary solution and deal with the implications later.

Which provider will give you this dollars...no be naija. I read online someone who tested it and sent . On friday the person went to collect the money in dollars in naija and offcourse was told no dollar

@chukwuka16 and @contra

this should reduce the price of petrol in Nigeria; if it stay around the 500 band this month right?

My oga. Hehehe

Implementation is another thing in Nigeria and not necessarily absent of policies.

Lexusgs430:



Contra, more like contraindication.......

You and I know, they have no long term solutions.......

LagosismyHome:


Which provider will give you this dollars...no be naija. I read online someone who tested it and sent . On friday the person went to collect the money in dollars in naija and offcourse was told no dollar

I think CBN mentioned 3 major IMTOs. Did the person use any of the 3? Others will come on board eventually.

Pls guys for a naija peep with green kpali connecting to a flight at Heathrow,does one need a transit visa?

Deola2020:
Pls guys for a naija peep with green kpali connecting to a flight at Heathrow,does one need a transit visa?

Going from where to where

LagosismyHome:


Going from where to where

Shanghai to lagos

So i will share my experience. I got in Oct 17th 2020, I happen to be a software engineer and i can say that there are lots of opportunities in Software engineering once you know the craft and got some good experience. I got in on a Saturday and started applying on Monday lol. I enrolled and uploaded my CV in Total Jobs and edited my CV and took out the locations from my work places (watched this from a video and felt it made some sense) but my last role as a Software Engineer in one of the Big fours and a dev project for a US firm i added the location because i felt it will stand out.
I had a family friend that got me a GifGaff SIM the weekend i got in because i felt they will call. On Monday i received lots of calls and started interviews the next day, interestingly most of them went well, for those with software experience just study algorithms and data structures, although different firms have their own type of questions. One of the recruiters i spoke to that day said she has a role that just has two stages of interview and they are one of the big players in the Insurance sector in Uk and US, i saw the JD i loved it!, did the first interview, it was a Q&A with their Head of Engineering and some senior engineers, i was struggling to hear some of the questions but again they were not so difficult i did well and they scheduled the next day for the final phase which was a coding test to be submitted in two hours and i did it before the allocated time and went into a Pair Programming exercise and as God may have it also went well. We discussed salaries and they gave me an offer on Friday same week and i resumed 2nd December.
I recently applied for NI so the HR said that would not be a problem as i should update it on the portal once its ready. About my experiences so far, its been an interesting one even though we are all working from home due to the lockdown and most developers are scattered around the country and it seems to be a work from home policy till june next year i think.
Lastly i was specific about the firm because they are amongst the list of firms that can provide sponsorship and we spoke about its possibility next year. If you are a developer i think you will do fine in the UK! Cheers!!!

fatima04:


Congratulations, glad you didn't miss the opportunity. If you don't mind, share your experience and journey in settling, job etc al for people coming to the UK as a newbie to learn one or two things. And also pictures , Xmas is starting

Deola2020:


Shanghai to lagos

I have no clue but I see you have a post on this topic in the front page... hopefully you get clarification there

mdeeokoye:
So i will share my experience. I got in Oct 17th 2020, I happen to be a software engineer and i can say that there are lots of opportunities in Software engineering once you know the craft and got some good experience. I got in on a Saturday and started applying on Monday lol. I enrolled and uploaded my CV in Total Jobs and edited my CV and took out the locations from my work places (watched this from a video and felt it made some sense) but my last role as a Software Engineer in one of the Big fours and a dev project for a US firm i added the location because i felt it will stand out.
I had a family friend that got me a GifGaff SIM the weekend i got in because i felt they will call. On Monday i received lots of calls and started interviews the next day, interestingly most of them went well, for those with software experience just study algorithms and data structures, although different firms have their own type of questions. One of the recruiters i spoke to that day said she has a role that just has two stages of interview and they are one of the big players in the Insurance sector in Uk and US, i saw the JD i loved it!, did the first interview, it was a Q&A with their Head of Engineering and some senior engineers, i was struggling to hear some of the questions but again they were not so difficult i did well and they scheduled the next day for the final phase which was a coding test to be submitted in two hours and i did it before the allocated time and went into a Pair Programming exercise and as God may have it also went well. We discussed salaries and they gave me an offer on Friday same week and i resumed 2nd December.
I recently applied for NI so the HR said that would not be a problem as i should update it on the portal once its ready. About my experiences so far, its been an interesting one even though we are all working from home due to the lockdown and most developers are scattered around the country and it seems to be a work from home policy till june next year i think.
Lastly i was specific about the firm because they are amongst the list of firms that can provide sponsorship and we spoke about its possibility next year. If you are a developer i think you will do fine in the UK! Cheers!!!

This was really fast oo. Nothing as precious as when you are in a field that is looking for people.

Thanks for sharing and all the best in your new role .....

Thanks, I hope it helps others out there. It actually resumed 2nd November ***(typo error), Today makes it a month and some days with them.

LagosismyHome:


This was really fast oo. Nothing as precious as when you are in a field that is looking for people.

Thanks for sharing and all the best in your new role .....

contra:
My oga. Hehehe

Implementation is another thing in Nigeria and not necessarily absent of policies.

Policies never execute themselves........... You still require human input to implement.........


That's what usually happens, when your policies are copied and pasted.........

mdeeokoye:
So i will share my experience. I got in Oct 17th 2020, I happen to be a software engineer and i can say that there are lots of opportunities in Software engineering once you know the craft and got some good experience. I got in on a Saturday and started applying on Monday lol. I enrolled and uploaded my CV in Total Jobs and edited my CV and took out the locations from my work places (watched this from a video and felt it made some sense) but my last role as a Software Engineer in one of the Big fours and a dev project for a US firm i added the location because i felt it will stand out.
I had a family friend that got me a GifGaff SIM the weekend i got in because i felt they will call. On Monday i received lots of calls and started interviews the next day, interestingly most of them went well, for those with software experience just study algorithms and data structures, although different firms have their own type of questions. One of the recruiters i spoke to that day said she has a role that just has two stages of interview and they are one of the big players in the Insurance sector in Uk and US, i saw the JD i loved it!, did the first interview, it was a Q&A with their Head of Engineering and some senior engineers, i was struggling to hear some of the questions but again they were not so difficult i did well and they scheduled the next day for the final phase which was a coding test to be submitted in two hours and i did it before the allocated time and went into a Pair Programming exercise and as God may have it also went well. We discussed salaries and they gave me an offer on Friday same week and i resumed 2nd December.
I recently applied for NI so the HR said that would not be a problem as i should update it on the portal once its ready. About my experiences so far, its been an interesting one even though we are all working from home due to the lockdown and most developers are scattered around the country and it seems to be a work from home policy till june next year i think.
Lastly i was specific about the firm because they are amongst the list of firms that can provide sponsorship and we spoke about its possibility next year. If you are a developer i think you will do fine in the UK! Cheers!!!

Thanks for the update. With the job ads I'm seeing, there's a lot of opportunities in the uk software sector. Not surprised you finished recruitment within two weeks.

Do you mind stating your stack and what the coding test you did entailed.
It will be really helpful.

Braket:

Thanks for the update. With the job ads I'm seeing, there's a lot of opportunities in the uk software sector. Not surprised you finished recruitment within two weeks.

Do you mind stating your stack and what the coding test you did entailed.
It will be really helpful.

You dey find expo.........

Monmarri:
Hello house pls how will home office find out or is it possible for home office to find out.

A friend of mine came on a six months visiting visa here in the UK and she had overstayed for 8 years, she told me that immediately she came to the UK, after one month she stayed and she DHL back her passport to her home country and her elder brother who is an immigration officer working at the airport stamped entry visa for her, just like she came bk home. Meanwhile, since 8 years now her passport is in her home country. So she said she left UK early this year with emergency traveling document. She also got married here in the UK to a British citizen, my friend is back to her home country and wants to apply for spouse visa, I asked her if she will use a lawyer bc of her overstay and the passport issue, she told me NO, that UK immigration will not in any way find out, that she is smart and has manipulated the system, no immigration will find out. I was shocked and I told her to declare it in her application, that she will cut. I am so afraid for her that she might be cut and banned . Pls house kindly advise. Thank you

How was she able to marry in the UK without showing legal papers. I did registry (marriage) here even though I went to naija for white and trad. I been married longer than she been here (8 years) and even back then if you are here illegally you were not able to marry inside UK as that something they check thoroughly when you are giving notice. ....... maybe her area / council didnt check

Also while her passport might be sent to naija and stamped , she forgetting she wont be on any flight record which the home office can check if they want but I dont know how far back they have access to ........ my MIL overstay 6 months due to covid lockdown so we kept applying for extension, on the final note, home office replied us that it's all fine now, they can see on flight record she back to naija. ..... I also know of a lady who stayed here 2 years doing nanny but sent her passport to naija after 6 months to stamp. When she applied for renewal she was rejected that flight record shows she stayed here 2 years. Those 2 incidents confirms to me that they have access to check if they want to

But you cannot cry more than the bereaved, if she sure it wont affect and it's a chance she willingly to take...... then hey...... If she applies time and experience will show her what the home office is capable of checking or not checking by the result .. perhaps maybe her case worker wont be thorough like the one who allowed an illegal immigrant to marry

Monmarri:
Hello house pls how will home office find out or is it possible for home office to find out.

A friend of mine came on a six months visiting visa here in the UK and she had overstayed for 8 years, she told me that immediately she came to the UK, after one month she stayed and she DHL back her passport to her home country and her elder brother who is an immigration officer working at the airport stamped entry visa for her, just like she came bk home. Meanwhile, since 8 years now her passport is in her home country. So she said she left UK early this year with emergency traveling document. She also got married here in the UK to a British citizen, my friend is back to her home country and wants to apply for spouse visa, I asked her if she will use a lawyer bc of her overstay and the passport issue, she told me NO, that UK immigration will not in any way find out, that she is smart and has manipulated the system, no immigration will find out. I was shocked and I told her to declare it in her application, that she will cut. I am so afraid for her that she might be cut and banned . Pls house kindly advise. Thank you

"A friend of mine"

"My in-laws sister"

Etc Etc.

She doesn't need advice na,

she said
1. she is smart
2. Manipulated the system.

What does she need advice for?

Wahala be like bicycle

LagosismyHome:


How was she able to marry in the UK without showing legal papers. I did registry (marriage) here even though I went to naija for white and trad. I been married longer than she been here (8 years) and even back then if you are here illegally you were not able to marry inside UK as that something they check thoroughly when you are giving notice. ....... maybe her area / council didnt check

Also while her passport might be sent to naija and stamped , she forgetting she wont be on any flight record which the home office can check if they want but I dont know how far back they have access to ........ my MIL overstay 6 months due to covid lockdown so we kept applying for extension, one the final note, home office replied us that it's all fine now, they can see on flight record she back to naija. ..... I also know of a lady who stayed here 2 years doing nanny but sent her passport to naija after 6 months to stamp. When she applied for renewal she was rejected that flight record shows she stayed here 2 years. Those 2 incidents confitms to me that they have access to check

But you cannot cry more than the bereaved, if she sure it wont affect and it's a chance she willingly to take...... then hey...... If she applies time and experience will show her what the home office is capable of checking or not checking by the result .. perhaps maybe her case worker wont be thorough like the one who allowed an illegal immigrant to marry

She must have manipulated the system

umarwy:


She must have manipulated the system

She a strong woman then, no status, no passport.... make she carry go .

Justwise might even hide this post. This a public forum. We naija only do things the right way biko