REVEALED: ₦900 Naira to $1 Dollar? CBN BDC Ban Explained!

[@FisayoFosudo]

Welcome to Finance Saturday 😅 This video took too long to edit. Let me know your thoughts 🙏🏾🙏🏾🙏🏾 PS. What rate do you think $1 will be to ₦ Naira in December of 2021? Reply below 👇🏾 Let’s chat!

[@Horlakzyt]

Maybe ₦900 May God airpus in the country

[@valvalentine1423]

Hello Fisayo, do you think having a Dormiciliary account now would be a wise way to avoid the BDCs?

[@valvalentine1423]

Or are Dormiciliary accounts another round of restrictions? Because from what you are saying, the bank rates are much safer at N410/$1

[@Trustiieee]

1 dollar is 850 naira by December

[@fawolenurudeeno.a1328]

About N700 per dollar, but it won't come to that

[@TayoAinaFilms]

The in-depth analysis on this video. Learnt a whole lot. 🔥 Hopefully dollar doesn’t get to 900 cause that will be a sad sad day!

[@CallMeTwist1101]

If you don’t earn in dollar

[@GospelinAI]

Tayo is even here.. bless up

[@benjaminiwuno1014]

I knew it would hit 1k...let's keep watching

[@ugochukwuharbor5519]

Quite agree!

[@kingsleykester8167]

Your Nigeria is failed state and must be seceded for the good of humanity

[@StevenNdukwu]

As someone that earns majorly in Dollars, I paid attention to This video… Fisayo made valid point and his hypothesis is as it is.. this is a must watch!!! Well done

[@FisayoFosudo]

Thanks man!

[@WendyStylesofficial]

@@FisayoFosudo Steven u are here, I always love ur showcasing of mind blowing real estate houses

[@anuoluwapooloja8312]

How about Nigerians that earn in Euros or Pounds, though?

[@Margeryhudsonpeters]

@@anuoluwapooloja8312 But, this is more about saving the Naira and the economy in general. Only few people earn dollars or euros. So, that shouldn't be a major concern of the CBN who is mandated to protect the local currency.

[@oladayoodejobi911]

@@anuoluwapooloja8312 himppkmlmpppmpppm

[@feddydiaz2386]

Because of the economic crisis and the rate of unemployment, now is the best time to invest and make money 💯

[@optionguide5893]

You can say that again

[@gomesboston9059]

@@optionguide5893 Cry`pto is the new gold

[@angelinaboettcher2394]

@@gomesboston9059 Stocks are good but Crypto is better

[@robertjoshua4351]

I wanted to trade crypto but got confused by the fluctuations in price

[@jessicalondon5548]

I have also been trading with him, profits are secured and over a 100 percent return on investment

[@gbengaolorunpomi7118]

I'm a huge fan, Fisayo. The eloquence, fluidity and use of simple English to communicate is both examplary and commendable. Most public speakers believe they must have a foreign accent to be respected. But, here you are, proving that complicated things can be made comprehensible. Thank you!

[@FisayoFosudo]

Thank you so much 🙏🏾

[@Mzlizzy]

You're so right

[@Gloradiant]

I’m not into finance but your explanation and examples were easy to understand. Well done🙌🏾🙌🏾

[@jamesrock7975]

Hi baby how are you doing

[@blokblok2009]

Yes it sounds like investing our money, they buy our money to help circulated their money. Are you interested I am?

[@olayinkaakinyemi5661]

What part of the finance if I may ask?

[@olokodanabukhari3489]

I like how nobody ever asks why there's anything like BDC's in the first place. Such redundant value created to profiteer and ransome our economy.

[@philomenajack9172]

😅Mrs Lisa is legit and her method works like magic I keep on earning every single week with her new strategy

[@mosesruin7144]

Wow I' m just shock someone mentioned expert Mrs Lisa I thought I' m the only one trading with her

[@mosesruin7144]

She helped me recover what I lost trying to trade my self

[@emmawilliam684]

I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Lisa

[@anigalafamous1673]

Mrs Lisa is obviously the best, I invested $3,000 and she made profit of $28,000 for me just in 15 days

[@anigalafamous1673]

Her success story is everywhere

[@AdebayoOkeowo]

This was so well researched bro. Had no idea BDCs had been banned before. Meanwhile, the CBN must also explain why it is demanding a whooping N35million for one BDC license. Isn't that greedy? That in itself is partly responsible for why the BDC operators will want to hike the prices so that they can recoup their investment.

[@Fido1010]

That money is return by CBN after 1year of holding on

[@nawaaoh]

Wow so informed. These are the kind of youths Nigeria needs . You speak with a lot of intelligence that makes you different from what I see on KZbin. Well done

[@dmadking3817]

low key the problem with Nigeria's economy is not Buhari, its Nigerians. We need deliverance

[@ademideakinsefunmi8547]

Nigeria's problems have always been Nigerians, afterall Buhari himself is a Nigerian ☹️

[@bamidele7138]

High key bro not low key

[@babatundeegbeyemi9168]

This is going to put integrity test on the banks. I hope they will be able to serve all Nigerians that needs FX for genuine reasons.

[@oladunjoyeoluwatobi3653]

My take on this issue is too ideal to share. If everyone decides to stick to this CBN rules, encourage more production in the country, it will really go a long way. You see Mr Fisayo, a whole lot of people have lost confidence in this country. Nigerians need to work with her leaders(sad we don't have many of them) to move this place forward. The government likewise needs to collaborate with individuals that have working ideas that could move the country forward. Hunger is too much in the land what's why there is greed everywhere. Saw some posts on Zimbabwe's currency and I was shocked. I pray we don't get to that point. God bless you for your good work sir👍

[@FrankDongaOfficial]

Well done, Fisayo. This is brilliant 👍🏼

[@FisayoFosudo]

Thank you 🙏🏾

[@pfxcampus]

Let’s work on financial freedom together

[@aquawater6308]

Young man. I just ran into your video and am impressed by your work. I am well aware that you are Nigeria but you are very calm and calculated. No mannerism and faking . I am a skeptic when it comes to happenings in our country, Nigeria but you broke this down professionally. Great job!!!!!!. You have my attention now.

[@enigma_i_am]

This title scared me soo much I couldn't procrastinate watching the video

[@SonofaBlacksmith]

We are on same boat brother.

[@lujosocakes8834]

Me too ooo😭😭😭

[@whats1millionusdwhensomeon70]

As a Ghanaian, this guy's interpretation on their local currency and the possible devaluation of the naira got me glued. Salute 😇

[@MissTslo]

I love Ghanaians. They always rejoice when they hear bad news from Nigeria. I will visit your country one day.

[@jenniferquansah7319]

@@MissTslo How can you say that. Oh

[@whats1millionusdwhensomeon70]

@@MissTslo oh😬🤔

[@obibakwekuadoma8482]

Me too

[@obibakwekuadoma8482]

@@MissTslo I will host you

[@Nora_Renee]

I appreciate your analysis. Sadly, corruption and fraud will be the downfall of Nigeria and many other African nations.

[@edojaekpiwhre944]

Pls what's today's exchange rate in d black market

[@emmanueladanu]

Am I the only one that caught the 'CBN using CamScanner' part?😂. Thank you Fisayo for this in-depth analysis

[@jamesezekiel-olufemi1202]

me too

[@thekenndubisi]

I really want to see where this entire action by the CBN leads to. If anything, this is a louder call to diversify one's portfolio in dollars. Awesome video as always Fisayo 👍🏼

[@finnibaba]

It's a good one if they stick to it absolutely. I import cars and I'm affected, but these BDCs are just gods. That shouldn't be.

[@pureiron2]

I don't think that is truth, that you saved that amount, because after all you are paying same at the bank as well as BDC... BROS TALK TRUE

[@chrisoghenetegamaloney5799]

@@finnibaba abokis

[@neodidi]

This is a truly helpful insight.. I watched cause I'm a freelancer and yeah, it's important to keep track of these. One of my main reasons for freelancing internationally is to bring dollar into the country, should I say, contributing my own. Things are increasing daily in the market, and if dollar keeps rising, poverty rate will sure increase even more. Those of us who can produce and sell locally and even internationally should do so. This will help us all. But, the thing is, just as some CBN directors still own BDCs, there are lots of people who don't want the local market to succeed, they are the problem really, and if they can be tackled, it will help us patronize locally more, and give local manufacturers what they need to make better products. It's important we try to resolve this drastic rise, things are getting more expensive by the day now. It's a nightmare

[@ayilaramutmaheen6779]

The problem is once the government try to tackle them, the mass will likely suffer it for some time and all u hear is the current admin is not doing anything good

[@neodidi]

@@ayilaramutmaheen6779 Tackling them without enabling local consumers is like asking a baby to start jumping before it could stand. When you tackle them and not put in structures to guide and enable local manufacturers, things will still get bad. First, tackle those importing things that can be produced here, next, empower those who can produce here, there are lots of people who can, they just don't cause they believe the imported will sell better, and you can't blame them, some of them aren't enabled to produce products that can compete with the imported. Some form of empowerment is subsidy, manufacturing regulations that are favorable, like tax, limited price tags, easy access to mass production firms, or enable others create mass production firms, or even build some themselves. Once these things are done, it will be easy to swap without people feeling it heavily. People complain cause it's now the tradition for the government to say one thing and do another, so people don't trust them.

[@neodidi]

@@b.dasilva431 absolutely right... This is why at the end I said, those friends of the government who import heavily and anyone else should be tackled. They should be forced to make local products, setup firms or partner with the government to setup establishments that could either produce or support local production.

[@PapaStrumfPS3]

Hi Fisayo, just came here to say that I'm glad to see you growing in this channel, I remember seeing you over a year ago when you had few thousand of views only in videos but I knew right then you will suceed because you had very high quality production videos. Keep it going! Full support from Croatia! :)

[@FisayoFosudo]

Thank you 🙏🏾

[@lolujubril]

Well I would suggest an electronic framework that will monitor who the BDCs are selling to, with the nin and application details of buyer, and the dollars will only be transferred into their Nigeria Dom accounts.

[@thecenturion8417]

I stumbled across this video and i am truly happy when good things come out of Nigeria which sadly is rare nowadays... it takes 30 secs or less to successfully capture one's interest in finance videos ... I'm glad the minutes i spent watching till the end weren't time wasted. More grease to your elbow, Fisayo.

[@makumbiisaac4770]

I love the depth of analysis bro. You just got a Ugandan fan!

[@enivid007]

Thank you Fisayo for making finance Friday videos.

[@senatorowuala3859]

The CBN decision is the best move right now. I've been wondering why BDC's have been destroying the Naira. If the policy is followed strictly, this will be a major turning point for the Naira and the economy at large.

[@ikene9821]

I am yet to see since 1986 how supply side restrictions will help the Naira when 60% of the dollar demand is going into the importation of petroleum products.

[@dhebrahaditaa6605]

Senator, I sight you.

[@senatorowuala3859]

@@dhebrahaditaa6605🤓💓

[@ehisohiwerei2585]

The economy is about to crash some more. Glad I earn in dollars though, but we’re only like 0.0001% of the population. The vast majority are screwed and it’s sad!

[@fawolenurudeeno.a1328]

Kindly Link me up with a legitimate means of earning like you

[@raphaelehindero1574]

​@@fawolenurudeeno.a1328 @babs Kunle You could offer digital services to people outside Nigeria e.g freelancing, working remotely for companies outside Nigeria

[@macabara8819]

Baba kule can not help you,kick Buhari out and stop being lazy,thats the only way out for you.Stop watching big broda naija,baba ijebu and think about your future,Fulani by design are there to impoverish you and supervised by your enemies believe it or keep living in fantasy world.

[@mustaphatimilehin1432]

@@macabara8819 BB Naija employs thousands of people and contributes to the Nigerian economy in many ways. We would just be shooting ourselves in the foot

[@annabelogaga8309]

Very sad

[@tijanikazeem917]

This is an indept analysis,I have been able to gain more knowledge about the CBN,BDCs and FX saga.Keep it up bro

[@annediekanem2996]

Mad! Your analysis is spot on and easy for laymen like me to follow. I don subscribe!

[@olayiwoleadeola6921]

I use to think that the government is that bad but i was wrong. Now, all we need to do is to give people the right information and ensure that we fix this problem on time. Thanks Fisayo. Keep doing what you do best.

[@ellaben2497]

Hmm, how will CBN enforce this when their very own CBN officials are heavily involved in this scam...

[@davidchang2083]

Is true. So I believe this policy will be reversed soon. Is pure speculation

[@OmakaSammie_SamNaija]

This analysis is top notch. Those that know, really know. The Naira has really suffered and its resultant effects show up in the mall, on transport, and on Commodities and services as well. Build Nigerian, produce Nigerian, Pay Nigerian, Export Nigerian, Value the Nigerian made products and services!

[@CallMeKJOS]

Very informative video bro. Finally learnt how BDCs work and what is next for the naira

[@FisayoFosudo]

Thanks bro! 🙌🏾

[@nicolebusari5493]

This was so good! Thanks for sharing. I think once farming, and factories are more established in Nigeria the population is there to make the turn around you speak of. Looking forward to that day!

[@victoriousinchristjesus8675]

Always very articulate... Not just talking but always talking sense! You too much bro.

[@Coupletalktech]

Quite an in depth analysis and I got to understand the new policy. I think this new policy is going to be a lifeline to people, that is if the banks are in full compliance. The ₦900/$ will only be possible in black markets and desperate people for FX will be a victim.

[@yungxix6343]

Well for me i really support the new move by cbn.

[@jeremiaholarewaju9208]

"WE NEED MORE FREELANCERS! ". This is an in depth and apt analysis. The Nigerian Government don't know yet, how valuable Freelancers are, in bringing in Forex to this country. Big shout out to all honest and hard working Nigerian Freelancers.

[@User.Joshua]

As an American that is considering a move to west Africa, I have to admit that these videos are both insightful and troubling. The idea of having to constantly think about the local and international evaluation of currency seems exhausting. However, I do have two business here in the states, so I’ll keep earning USD. Perhaps I can avoid these large fluctuations by only converting when necessary. Anyhow, nice content as always.

[@TapTop_comedy]

After listening to you bro I now understood what is really happening under my very nose

[@kreativekb8761]

Not me watching a Premiere pro tutorial Ad of over 5 minutes without even realising it. lol. BTW, The amount of value in this video deserves over a Million views! Welldone Fisayo.

[@deborahmendy7293]

😂😂😂 that’s unfortunate; 5 whole minutes

[@Wealthshooter]

@@deborahmendy7293 lol 😁

[@cuLiref]

Excellent analysis bruh… I now understand how everything happened. And you have succeeded in scaring me. The problem of Nigeria isn’t even the government alone. It’s the citizens and the government

[@olurotimiwilliams]

Hopefully, banks would also increase the monthly spending limit on dollar transactions due to the increased availability of fx.

[@just_timothy]

“We need more freelancers” So true, but the system is forcing them to export themselves…This was a very detailed video 👍🏾🚀

[@suleimn832]

What a great content Fisayo! 👏 It's time you start a business consulting class or section. This is definitely 💯 your calling and you have our humanly support all the way.

[@oguguae6103]

Thanks for the information. It happened to me last two weeks, l applied for PTA two weeks in advance, a week later my account was debited, was told to come back before I travel. Was at the bank a day before my travel, was told that it was not approved. Shocked to my bone marrow. As you said in the video, using only one bank. After holding my money for two weeks. Disappointed. Thanks

[@iszybeethefirst]

How do you even do it, Fisayo??? This is crazy and really in-depth analysis. ❤️🤯

[@FisayoFosudo]

Thank you 🙏🏾

[@tobbycobby4357]

Nice one Fisayo....Good to see you here after a long time.

[@76454455555071]

I’d love to see your analysis on how HMO’s are being operated in Nigeria 🤔

[@tarelatawari7042]

Yes. Me too. Don't know if they are to be trusted.

[@ninocharmaine-theserenadin497]

Same here. Would love to see it

[@themajestyjoshua]

What is HMO

[@76454455555071]

@Majesty Joshua Health Maintenance Organization. They’re the intermediaries between the federal governmental (i.e. NHIS) and hospitals.

[@alexanderbassey5268]

The are in bed with NHIS, it’s shambolic to say the least. The major stakeholder which are the Doctors hold the short end of the stick with abysmal tariffs… and their response is… why did you then sign the contract. Poor regulation is Nigeria’s albatross.

[@uchennauzoma378]

My Brother may God Almighty bless you greatly on this quality, incisive and in-depth analysis of yours....for me what i can just add is that the Nigerian government should fix our power systems so that there will be constant light in the nation because once there is constant light the people will go into mass production of what we as Nigerians will always consume and as time goes on this issue of the Forex this Forex that will be history ...na light we need for Nigeria.... LIGHT.. Punto stop...

[@NigerianInvestor]

Investing in US stocks is important at a time like this. Thank God Chaka is allowed to transact in Nigeria. This means that Dollar demand will rise due to the limitations of who and what the banks will allow transact usd. At this point, anything can happen. It is safe to expose yourself to usd soon. Awesome video Bro Fisayo. Keep it up.

[@oyejaiyeola6958]

Not forgetting also investing on the HSE or UK stocks ........ 🤣😂

[@ladyp3374]

Pls can you put me through chacka

[@dmgdondada]

@@oyejaiyeola6958 would this also affect the price of GBP and EUR?

[@oyejaiyeola6958]

@@dmgdondada $ is the world transactional currency. But by consequence, if the $ rises, the £ & € would naturally follow.

[@b.dasilva431]

Naira is not the problem Devaluation is not the problem And never will it be Lack of Local production is the problem Importation is one the biggest problem Inflation is gladly imported in Nigeria Underdevelopment is the problem ------------------------------------------------------------------------ Nigeria’s exchange rate : - exchange rate means nothing when you produce everything you consume. - Don't be only consumers be producers - Weak currency is an opportunity when you're clever. - Consumers don't create value only producers do. - Weak currency expands market when you produce

[@frankiefab]

Every Nigerian needs to watch this. Thank you Fisayo.

[@Sully3000]

The rate will certainly increase, if not for anything the fears that this ban will give rise to

[@frankntekim3730]

Have I been living under a rock? Excellent submission! You just got a new subscriber!!

[@chrisifesi1079]

Thank you for this Fisayo. Luckily for us though, the naira is gaining..

[@ighsight]

Commenting @8:00 as requested. Excellent work here on the dynamics of arbitrage in Nigeria. Subscribed!

[@alexandraedem1726]

I really think it's a great move. We can't have private sector making almost double of what the public sector makes, how is our GDP supposed to rise ? I do suggest that the government put other measures in place so as to help with this Naira devaluation issue.

[@Bigbrodyhowell]

Amazing bro! Had little or no knowledge how all this works but with this video, i can actually explain better to another novice like myself. Keep it up boss.

[@jemiladama3020]

I love all your videos. Financial Fridays rock. I would like to point out one small detail; you do not have to have an account with a bank to buy PTA or BTA from said bank, you can be treated as a walk in customer, so if your bank does not have FX for PTA or BTA on your preferred date, you can find another bank that does and buy from them even if you do not have an account with them. Thanks for all the insight, looking forward to next Friday. Cheers.

[@HenryWatters]

please bro must I have a return ticket to buy dollar or pounds?.. my bank said I must have a return ticket.. I am going to London by September. paid for one way trip

[@jemiladama3020]

@@HenryWatters Yes, a return ticket is mandatory for PTAs/BTAs.

[@enekebemn1]

Thanks for the video. I worked at CBN and currently in the US. Once CBN said they would stop selling to BDC. I knew that the demand for Dollar would rise exponentially because we don’t produce anything.

[@GadgetsBoy]

Nigeria will go where the money is regardless of logical and rational reasons

[@RandomMZ1412]

That is how every economy operates. Go where money is with the least resistance

[@augustineijebome6089]

Very correct

[@skukipeeshaun5232]

Amazing video. I was searching for more info on this whole CBN and BDC topic and your channel popped up. Glad I discovered your channel today. Your explanation is straight to the point and very easy to understand. Keep up the good work.

[@TegaUkonga]

That's why I always say Nigeria's problem goes just beyond the seat of the president.

[@augustineijebome6089]

U are so right my sister

[@laccuzzi]

But it is a failing of the government. They make the rules and enforce them. There is a lack of oversight by the government. There should have been controls in place to guard against this and monitoring to ensure control adequacy and effectiveness.

[@BlkArabian]

Who's here in 2023? Dollar exchange on chipper cash is now 900 naira plus. Balck Market dollar is now 895 to 900 per dollar. This is 2023 August and this prediction of Fisayo is now here after two years 😢

[@akinfolarinabatan4508]

Can you do a video on how to easily convert naira to dollars through these new apps without having to source for dollars locally in Nigeria?

[@looking5050]

I hope Nigerian university lecturers will start taking some lessons from you. well articulate.

[@anthonyyawa2445]

Fisayo I have nicknamed you the financial genius 💸🧠 very apt video 👏👏

[@FisayoFosudo]

Haha, I wish I was a genius but I’m not.

[@anthonyyawa2445]

@@FisayoFosudo 😂 no dey disguise we know you 😂😂😂 keep making 9ja proud 💪

[@MrJimmydeb]

See it's all well and good to say we should produce and consume internally. I'm into manufacturing and I know the biggest challenge to my industry is getting funding, and enabling environment i.e. power and infrastructure. If the govt see this as a way out they need to do more to fund SMEs and do so consciously and not pay lip service to this issue. My take, Nigeria will be great we need more contents like this. We need to keep talking and start doing. God bless Nigeria IJn amen 🙏🏾

[@oluway5537]

Henry Boyo has consistently advised on the monetary policy of Nigeria that will keep the country perpetual poor. Please feature is old article for discussion. He was columnist with Punch newspaper before his demise. Lectured in Unilag.

[@emmany3]

I really like the layman analysis here. There are no economics jargons to start with. Well done bro. Nigeria's problem has never been ability to formulate policies but the problem has always been with the implementation of those policies. What would it take to sanction some BDCs flouting the orders of CBN on illegal profiting from fx sales? This has always been my question and no one has been able to give me a good response. Even the banks are involved in this act of illegally profiting from fx sales.

[@mgbemena_]

This is really informative and detailed, well done Fisayo

[@folasadeayodele6000]

I keep asking these same questions. His analysis are in simple words and so clear. Well done Fisayo

[@daviddeclan]

Watching the Ads was necessary for this indepth content. Thanks Fisayo for this knowledge 🥂

[@iudoh]

Btw you can be at a disadvantage when you’re selling dollars to banks for naira. The bank rates aren’t favorable then and it’s why they make creating domiciliary accounts so hectic.

[@olubusayofamutimi6536]

Great analysis. You mentioned we should raise our crude oil prices.. Don't forget that crude oil prices are determined by global demand and supply. More so, developed countries are moving away from fossil fuel (e.g. petrol and diesel) and by 2025, those countries that demand our crude oil 🛢 will stop the sale of fossil fuel-based automotives and that will consequently lower global demand for crude oil. What continues to hurt our economy is "over-reliance" on crude oil revenues. The oil boom has brought more doom than boom. We should be talking about diversification to non-oil revenues like agriculture, textile etc

[@kulkhida]

Beautiful analysis, just had to hit the subscribe button and like button

[@heycaro1913]

I am sure those disliking this video are none Nigerians who are sad about our economy. lol. I am happy my bank can still give me my $ when I withdraw cos am a freelancer. Thank you Fisayo, I learned a lot.

[@jeffrey_chuks]

Crazy as it may sound but greed is the only problem I see causing the rise in the exchange rate.

[@ademideakinsefunmi8547]

Most of Nigeria's problems stem from greed ☹️

[@jeffrey_chuks]

@@b.dasilva431 well said.

[@wilbertberriclone7427]

This is like listening to a university level lecture on current Nigerian economy. Well done and thanks.

[@babajideoke8127]

Great analysis but, one factor that was not analyzed was when $1 went to close to 350 naira in 2016, the price of crude oil was also dropping, which was also another reason for the naira crash then. The naira is highly dependent on the price in which crude oil is trading in the market. Personally, I don't see the naira reaching 550 to $1 before the end of the year because, the price of crude oil has been going up since the year began.

[@suleshzulesh3770]

Hi,do you trade crude oil,or you have any idea how.TIA

[@omotayoakinpelumi2061]

You forgot the behavioural angle. People get sentimental and can further worsen the value though hoarding or outright supply manipulation.

[@kenechukwudennis-okafor2421]

@babajide oke ,it's November. Guess the what the dollar is at now? If you truly know what is going on in Nigeria, you will invest in the dollar.

[@jeunkoku]

One word: GREED (Nigeria motto). Great video!

[@jes.ses_walk]

Why do I get the feeling that the CBN is just doing the "RIGHT" thing and sowing seeds for the future 😓

[@MrRudesaint]

It is the right move truth be told especially for the long term

[@FirstTenQ]

Really!? I call it window dressing. What should they have done? 1. They should enforce BDC to sell at the N10 Naira margin. 2. Advise the government to practice an import substitution economy. You can't eat your cake and still have it

[@drinkskhalifa7153]

Banning BDC for me is not an option, I support BDC because without BDC the traders are suffering from getting more dollars for their imports, and once the dollar's short the demand will grow higher that led to the increased in dollar price

[@dele727]

Fisayo, I always love the research and final presentation of your work, very professional. The answer to the exchange rate of the Naira is as long as the economy is fully dependent on Oil, the Naira will continue it’s downward spiral. There was a time 1 Naira was more than a dollar. I can easily see even N2,000 to a $ not to far in the future.

[@nanaaishah4274]

“Can I also say it’s CUTE that the CBN uses CamScanner for their official letter” 😂😂😂💀

[@kingmaridolce1042]

Me nd CBN use something in common✌🏾

[@adeotiraheem8763]

This video is rich and you did a great job. The ban of Foreign currency to BDC will actually be challenging and going to affect most import trades as most of the importers prefer getting funds from BDC as they aren't either aware of the window in banks, or the value of their importation is higher than the approved limit for single customer. But concerning the issue of someone who does need to travel or pay school fees etc going to get FCY in banks, that won't be possible because there are measures put in place to verify genuine customers in need of the FCY. The scarcity of the FCY in a long run might definitely lead to domestic production and patronage of home produce then exports. And unnecessary items importation will be regulated since the major source of FCY are commercial banks. We hope for the best

[@alomann]

Great research, great delivery.... Very insightful. I need to start earning in USD

[@ayindeoyinlola1380]

That was educating and enlightening. This is where our youths and graduates well grounded in finance are supposed to come in with modern and real time solution but...

[@augutineikpon4682]

All the BDC licenses in Nigeria are owned by politicians, its a lucrative easy business to make money

[@bin-usmanyunus8131]

What's the meaning of BDC?

[@biblesandInspiration]

@@bin-usmanyunus8131 buearu d change

[@ai7333]

And launder money!

[@JoFreshFrancis]

I'm nota politician and I own one

[@ai7333]

@@JoFreshFrancis Cool... But some use it to launder money

[@DavidNkwa]

Good Job Fisayo as always. This policy will favour those who earn in dollars. Maybe more Nigerians should start thinking of how-to earn dollars. At the same time, banks needs to let people know what's qualify for FX by individuals

[@georgeoprahreviewchannel1071]

Well I believe it's time for me to start saving my money in USDT under binance

[@cryptoconfused3400]

Careful with that, USDT isn't as stable as its made out to be and its really being looked into as not being backed by dollars 1:1.

[@georgeoprahreviewchannel1071]

@@cryptoconfused3400 I believe the price is stable as the difference between USDT and USD is very minimal and incase of any abnormality, it can be converted to any other coin which can easily be sold out

[@david_jay992]

So as a freelancer you are helping your country. You're a super hero.

[@Demmybacus]

Only God can save us now, also it is wise to save our money in foreign currencies for future purposes.

[@omotolaoyeniyi631]

Lol, only you can save yourselves now, God is just laughing at us, we make our country the way it is, until we change, God ain't gonna do nothing in the affairs of this country

[@engrchris8149]

@@omotolaoyeniyi631 true talk

[@ejidaniel4326]

My brother, the ONLY hope we all have is for the CBN to hold firm this decision else this economy is gone. As expected, saboteurs will always look for ways to further weaken the naira but in the end good will triumph. As per buying local food and products, an average Nigerian will always look for an excuse to inflate prices of items. Again it boils down to a sincere government working thoroughly to streamline activities and flush out bad eggs with the sledge. Lessons learned in blood is hardly ever forgotten and stands a memorial and reminder for others. Welldone.

[@tradeindiceswithbayousingp9742]

It's all on the chart analysis of USD/NGN. This Fx pair is just going way up to $1 = N1000 (sooner or later)

[@tegaejeheri477]

Wow. Thanks Fisayo for this video. This explains why I have been receiving FX SMSs from my bankers.

[@kachie_88]

It is a good move by the CBN but I would love them to implement this policy to the fullest so that the unnecessary speculation for FOREX will reduce & similarly bring transparency & improvement to the economy

[@speaklesss8313]

Good talk guy.Keep moving forward.Also add that banks requires that ur traveling ticket will start in Nigeria and end in Nigeria.If u're a citizen of another country though a citizen of Naija also,they will reject selling dollar to u at the bank.Useless country

[@samuelorinya977]

I couldn't agree more on the freelancing emphasis

[@adelekeadeyinkab.1903]

Love this analysis. Now I understand better. Great work

[@chuksokoye4153]

I think we should be more independent, we literally import everything we consume and pay no attention to home made items.... The government should impose a strict rule/ policy in favor of less importation and more exportation, this would add more value to our naira

[@FisayoFosudo]

Nice insight

[@chuksokoye4153]

@@FisayoFosudo thank you boss