Simplyleo:

We Nigerians sent CBN.

And it has nothing to do with online country.

A305:
If I understand this news correctly. It means CBN intends to outbid ABOKI and the banks for your dollar in order to amass the dollar, devalue it locally and make it available to other sectors at their rate. Then make the dollars in circulation exessive that, it would crash the black market rate if they keep up with the promo.

The promo would serve as a tool to check mate dollar scarcity and overflow.

Nice move CBN. Who ever came up with this is a thinking man.

onoms4luv:
so for every 1 dollar, I will be charge 5naira. this country Sha, that emefiele of a person na only to extortion he Sabi?

onoms4luv:
so for every 1 dollar, I will be charge 5naira. this country Sha, that emefiele of a person na only to extortion he Sabi?

Mightyhaiz:
So e never reach when u go get sense

Godarz:


Might be a pipe dream, but CBN can do what it can do.

For us Nigerians, we have to

1.Vote for the right people...not PDP and APC

2.Stop the idea of price controls in the power and petrol sector...and allow the companies and makrteters set the prices that would allow them make profits to build refineres, and expand our power generation and transmission...and by extension our economy

3.Fight corruption.

4.End insecurity...by properly funding the Police

5.Expand the tax base.

CBN can do only what CBN can do. The rest is up to us and our polticians.

FalseProphet1:
I see that more than 70% of people reading this post have no idea what it means. This I have seen.

CodeTemplar:
Lol. . . they will take the remitted dollar at a lower rate forcefully and make the real beneficiaries of the remittances and forex buyers to buy it at a higher rate. Out of the difference of about N100, they will use N5 to bribe the remitter of the forex.
Why not tax cattle seller like 2.5k per cattke above 100k? They always looking to take from where southerners are active in and send it to other parts of the nation.

donforeign:
Someone should explain this for me..
I be they expect about$2500 on Monday via Ria or moneygram o

Nbotee:
For those who do not understand the post, CBN wants to b paying Nigerians 5 naira for every 1 dollar they receive but the 419 behind it all is the useless exchange rates dey dey maintain.. In other words dey want to bribe Nigerians 5 naira for collecting their dollars at their 419 rate

Pesuzok:


You will collect your $2,500 in cash and an extra NGN12,500 CBN promo

Exodora:

How much will I collect for $ 300.

IMAliyu:

No they are saying for every 1 dollar, they will pay you extra 5 Naira. On top the official exchange rate of 415, to be 420.

Still not worth it when you can get 1 dollar for 500 Naira on side markets.

Pesuzok:


You will collect your $2,500 in cash and an extra NGN12,500 CBN promo

Exodora:
These people should not let thunder fire them oooo.
So my dollar will be reduced now , if I had known I would have cash it out on Friday .
Everybody in this country na thief . That is how this Aboki told me on Monday that 50 dollar is not exchange as same with 100 USD na so this stupid Aboki just dupe me of 3000k
On Wednesday I went for another exchange another Aboki told me that there was nothing like that .
And this Monday they bringing this stupid rules again , can't we just enjoy our money again in peace in this country.

Pesuzok:


You will collect your $2,500 in cash and an extra NGN12,500 CBN promo

Len234:
Where can some one collect money, while evading this CBN scam. I want to be paid in full rate ; 475naira for one dollar. CBN dey craze, when they were giving crazy politicians leeway dem no know!!!

SeaTrade:
They want to subsidise the dollar by 5 naira ,without actually spending dollars from the reserve to defend the naira.
Like using the naira end of the deal to strengthen the naira. Good and smart move...This means from 9th of may they will start funding BDCs appropriately again ,so speculators and exporters and smugglers should be weary of the month of may.
They've just given smart people a heads up
Expect dollar to trade for 475 or 470 on monday at the parallel market ,

Ddokie:
A policy that makes some good sense.



If the money comes into your dom account, you withdraw dollar and sell it to aboki.


Modified

I just noticed it's a promo starting from March 8 and ending in May. Haba! Something isn't right. Maybe some people want to cash out.

SeaTrade:
They want to subsidise the dollar by 5 naira ,without actually spending dollars from the reserve to defend the naira.
Like using the naira end of the deal to strengthen the naira. Good and smart move...This means from 9th of may they will start funding BDCs appropriately again ,so speculators and exporters and smugglers should be weary of the month of may.
They've just given smart people a heads up
Expect dollar to trade for 475 or 470 on monday at the parallel market ,

thebosstrevor1:


Shut up.

Try to understand things before going emotional and ranting like a woman.

If you receive money in dollars, you will receive additional naira with your orginal dollars.