NewStats: 3,263,927 , 8,181,929 topics. Date: Sunday, 08 June 2025 at 07:54 PM 6a6dx

Who needs ebay checkout? Available@410/$, can do up to $2k. on my siggy (whatsapp or telegram)

Exahusted

Are Stanbic and Access bank cards still working for international POS and ATM purchases; online too?

989900D:
Are Stanbic and Access bank cards still working for international POS and ATM purchases; online too?

Nope

PayPal fund needed
$700
Only trusted seller please

Durosure:
honestly it not economical for any country to subsidize importation or fix exchange rate when the economy is an import oriented economy like Nigeria.... What am i saying, Nigeria import Virtually 80% of it consumption anually including infrastrustructural and capital good. back Then With Proforma invoice you get fx from CBN at about 160. When you use that money to buy good from CHN and compare the price of that good to that of produce in Nigeria the one from China will have comparative advantage over the one produce in Nigeria due to the level of Economics of scale in China (efficient at producing ) in other to correct this abnomality the Government through it Monetary or fiscal Operation can control this with either Tarrif or Non Tariff barrier. Currently the volatility in the forex is as a result of Government Monetary Policy and to me comes with alot of advantage if we are ready to Benefit

1, this will make local raw material relatively cheaper for international industry to buy as input. Thus increasing inflow of Fx overtime

China has the strenght to equate or clear the disparity between yuan and Dollar But if 1yuan=1$ demand for Chinese product would reduce somehow has it will become more expensive to some country and Chinese monetary authority are always on the look out to ensure it does not happen.

If by the highlighted, you mean it'd make raw materials relatively cheaper for international industries to buy, produce and import to Nigeria, I think that doesn't hold any economic water. It'll go full circle and come right back to bite our asses.

If you mean making the raw materials relatively cheaper for local industries, we produce and export to other countries, it makes sense because over time, it'll lead to balance of trade and payments. Currently, trade and payments are negatively tilted against this country.

I think you mean $1 to 1 RMB (yuan). That's about 85.14% decrease in exchange rate value between both currencies and that's difficult to come by in the short-run.

In the medium- or long-run, everything is possible.

2, looking inward. Naturally people will seek alternatives just like student are now considering combination of Yam/bread with beans instead of the over maggi jollof and fried. Yam consumption will increase thus moving the price shift outward due to Rachet effect. Now A good number of Nigerian youth will be encourage to farm considering increase in Revenue from agric produce.

True that! Yet, a shift in consumption pattern on an aggregate level won't result in aggregate production of farming produce except there's a private-public partnership. A good number of Nigerian youths going into farming won't fix the economy by a good percentage because they need stable electricity, they need machinery, they need venture capital, they need adequate storage facilities, they need good transportation, etc.

The government has to be involved.

3. Inclusiveness and transparency. Since we are on zero subsidy there is no free launch and people would ask questions as per why,how, when did event occur expecting more comstructive and realistic answer from the Authority.

I like this point most. I wish we ask more [right] questions and wish we did during the last election campaign when we were promised 99.64% drop in the dollar-naira value which is basically mathematically impossible for Nigeria to achieve in half a decade.

4, Nigeria Economy is service oriented jumping off the natural process most economy are experiencing which is industrialization, development is technically cyclical. Most Nigerians work with Indians or Chinese just say foreigners importing finished or semi finish goods, then employ Nigerians for sale,marketing,factory worker and Nigerians are not really producing by doing this but they are promoting another economy, they earn low income. But in this case Nigerians will have comparative advantage producing locally either on small or large scale which will increase the National Output in no time

Being service-oriented isn't bad in its entirety; it's bad when Nigerians are made to slave (not work) and earn low income (like you pointed out) for Indians, Chinese, Lebanese, etc. within the territorial boundaries of this country. Heck! The employment regulatory body in the country pisses me off.

If Nigerians work for these people and earn right, I don't mind. Exportation doesn't involve products only; it encomes services, platforms, etc.

In the case of #1000=1usd, i think CBN should seat tight in term of workable policy to checkmate the activities of Commercial Banks regarding forex and local interest rate..

CBN can comeup with timely shock to supress the pressure on Naira. For example if CBN strategically make available fx to create shock in the supply chain leaving the capital boy to struggle with high rate since the rate provided by CBN would be far lower.

Spot on! Let's hope she does right by the naira and she's not on this trial-and-error swing she occasionally plays on.

It appears the banks reduced their limits and stopped the use of their cards outside of Nigeria in reaction to regulatory directive to ensure that their rates are close to the interbank rate. Today, Stanbic and GTbank are communicating to customers on twitter that their indicative rates for the dollar is 320 naira. The Honeymoon is over for them. I am sure they made so much money while it lasted.

PayPal fund available

I logged into my Skrill and saw this message "Please be aware that we no longer accept deposits via bank cards & Dorm or facilitate withdrawals in US dollars". I am guessing CBN has ordered payment services to stop accepting USD deposits and withdrawals in Nigeria.

Who else has noticed this?

didymario7:
I logged into my Skrill and saw this message "Please be aware that we no longer accept deposits or facilitate withdrawals in US dollars". I am guessing CBN has ordered payment services to stop accepting USD deposits and withdrawals in Nigeria.

Who else has noticed this?

Nothing of such on my . I just to check. Also I sold $160 USD Skrill fund on Thursday.

Re=Posting as at now. It just came up on also. But am not sure it has something to do with our Naira o unless the message is restricted to all Nigerian Skrill holders ONLY

SKRILL..

SO I CLICK ON WITHDRAW & THIS CAME UP (1ST IMAGE).. AND I THEN CLICKED ON THE 2ND IMAGE CAME.

To My understanding the Message is restricted to ing and Withdrawal of Funds.

Not to Sending Money because nothing of such came up.

Macaulish:
SKRILL..

SO I CLICK ON WITHDRAW & THIS CAME UP (1ST IMAGE).. AND I THEN CLICKED ON THE 2ND IMAGE CAME.

To My understanding the Message is restricted to ing and Withdrawal of Funds.

Not to Sending Money because nothing of such came up.

If we can no longer and withdraw funds via Skrill, then the service is as good as useless to Nigerians.

With this move, Nigerians will abandon Skrill.

didymario7:



If we can no longer and withdraw funds via Skrill, then the service is as good as useless to Nigerians.

With this move, Nigerians will abandon Skrill.

What the message means is that they will not be using dollars as transfer currency anymore. So if u want to send 100$ to someone ,you will no longer see dollars but euros if u are withdrawing it will also be in euros. There is no big deal about it,the site should have a currency conversion page thatbu can see the current rate of dollars to euros before transactions. Whenever the banks start fx on their cards again and u want to , the money will be deducted in euros and not dollars

u can withdraw to euro docile

and if u want to they would change it to euro instead of dollar

hardniola:
u can withdraw to euro docile


and if u want to they would change it to euro instead of dollar

simple as abc.

100$ Agc available. 385N/$. on signature.

$100 Agc available at the rate of 380
Whatsapp : 090280772four7

hardniola:
u can withdraw to euro docile


and if u want to they would change it to euro instead of dollar

You cannot and withdraw in Euro with your USD Skrill . This feature is reserved for their VIP and virtually all Nigerian s don't belong. Correct me if I am wrong

onatisi:

What the message means is that they will not be using dollars as transfer currency anymore. So if u want to send 100$ to someone ,you will no longer see dollars but euros if u are withdrawing it will also be in euros. There is no big deal about it,the site should have a currency conversion page thatbu can see the current rate of dollars to euros before transactions. Whenever the banks start fx on their cards again and u want to , the money will be deducted in euros and not dollars

It is a big deal because you cannot /withdraw euros into a Skrill USD . This feature is reserved for their VIP and virtually all Nigerian s don't belong. Correct me if I am wrong

didymario7:


It is a big deal because you cannot /withdraw euros into a Skrill USD . This feature is reserved for their VIP and virtually all Nigerian s don't belong.

They will adjust it since the change of policy is from their side. They are the ones that changed the rules ,try.and or withdraw first and see what happens

SKRILL- We charge an additional 2.99% for transfers between USD, GBP, EUR, CAD or PLN currencies. 3.99% for transfers between USD, GBP, EUR, CAD, PLN and any other currency. 4.99% for transfers involving any other currency – this fee will change to 3.99% from 25th January 2016.)

onatisi:

They will adjust it since the change of policy is from their side. They are the ones that changed the rules ,try.and or withdraw first and see what happens

No it won't be adjusted. If you are ing into a Skrill USD when you get to the page, you have to enter the amount you want ed in USD and there is no option to change this.

Let's even assume you close your USD and create one domiciled in EURO. What this means is that you will be paying atleast 2.5%-5% more depending on how you get the Euro into that and whom you are transferring to.

If you also factor in the fact that Skrill funds are sold at near black market rates it becomes obvious that the service is as good as dead in Nigeria.

didymario7:


No it won't be adjusted. If you are ing into a Skrill USD when you get to the page, you have to enter the amount you want ed in USD and there is no option to change this.

Let's even assume you close your USD and create one domiciled in EURO. What this means is that you will be paying atleast 2.5%-5% more depending on how you get the Euro into that and whom you are transferring to.

If you also factor in the fact that Skrill funds are sold at near black market rates it becomes obvious that the service is as good as dead in Nigeria.

Dont get urself worked up yet. Try and first and see what happens .

AleAirHub:
Your Dollar / Btc

That is 1.18162bitcoin

didymario7:


No it won't be adjusted. If you are ing into a Skrill USD when you get to the page, you have to enter the amount you want ed in USD and there is no option to change this.

Let's even assume you close your USD and create one domiciled in EURO. What this means is that you will be paying atleast 2.5%-5% more depending on how you get the Euro into that and whom you are transferring to.

If you also factor in the fact that Skrill funds are sold at near black market rates it becomes obvious that the service is as good as dead in Nigeria.

Skrill gave me a sleepness night walahi.It's time to port and started thinking many alternatives.

omotisa:
It appears the banks reduced their limits and stopped the use of their cards outside of Nigeria in reaction to regulatory directive to ensure that their rates are close to the interbank rate. Today, Stanbic and GTbank are communicating to customers on twitter that their indicative rates for the dollar is 320 naira. The Honeymoon is over for them. I am sure they made so much money while it lasted.

This was what I expected the first time naira was floated months ago.

I was amazed it didn't happen (banks selling at interbank rates) and some people here laughed.

Now that its happened, its a pity it will only last a few days.

EnterPRO:


This was what I expected the first time naira was floated months ago.

I was amazed it didn't happen (banks selling at interbank rates) and some people here laughed.

Now that its happened, its a pity it will only last a few days.

Bro,the bitter truth is this fx problem will continue till 2019 and it will get worse by 2018. There is no quick fix to the problem except the nation starts producing. All these cbn policies are just a bloody waste of time. The political leadership has done virtually nothing and I mean absolutely nothing in the last 2 years to give the nation and breakthrough. I really pity the cbn governor because he has to carry all the blame and has to be searching for temporary solutions to the acute deficiency of the political leadership. I said it ,any sensible investor will be buying now and not selling in order to see what plays out next week. The nation is currently been ruled by zombies who are just one way thinkers .

onatisi:

Bro,the bitter truth is this fx problem will continue till 2019 and it will get worse by 2018. There is no quick fix to the problem except the nation starts producing. All these cbn policies are just a bloody waste of time. The political leadership has done virtually nothing and I mean absolutely nothing in the last 2 years to give the nation and breakthrough. I really pity the cbn governor because he has to carry all the blame and has to be searching for temporary solutions to the acute deficiency of the political leadership. I said it ,any sensible investor will be buying now and not selling in order to see what plays out next week. The nation is currently been ruled by zombies who are just one way thinkers .

Its a pity really, and the banks are busy committing daylight robbery and refusing to give out loans.

How can we be productive?

Wish CBN can sanction them to the tune of billions same way NCC sanctions telcos.

Such fines can then be pumped into other areas like SURE-P.

Is GTB really N320 now?

When are they stopping their own card usage?

EnterPRO:


Its a pity really, and the banks are busy committing daylight robbery and refusing to give out loans.

How can we be productive?

Wish CBN can sanction them to the tune of billions same way NCC sanctions telcos.

Such fines can then be pumped into other areas like SURE-P.

You cant blame the banks for not giving out loans. Do u know the amount of bad debts or loans these banks have on their necks? The Nigeria environment is a very difficult terrain to do business in and only business vultures like the Chinese and asians can cope because they too are dubious.
There is no concrete database ,nothing!
Many ppl collect loans with the intention of not paying back,I heard about a man that went to a bank and asked for a loan and he actually took his lawyer friend along basically to find loopholes to not payback. Agriculture remains the nations best bet. Very soon u will start hearing stories from and about travelex too

EnterPRO:
Is GTB really N320 now?

When are they stopping their own card usage?

I dont know when gtb is stopping theirs, but stanbic is 18th which is Tuesday, so i intend to make a payment of $100 via paypal today using stanbic card. Make i enjoy the N320 rate from stanbic before it ends

EnterPRO:
Is GTB really N320 now?

When are they stopping their own card usage?

Yes, as reported on the bank's twitter handle @gtbank_help.