Wish you had a crystal ball? Here you go.
Be sure to read the whole list of measures.
2 Likes
Some numbers for context, the OTC cash limit in the article is #100,00 per week with a 5% processing fee for amounts over that
Nigeria has an average monthly salary of 339,000 nigerian per month, so, withdrawing 100,000 per week (to avoid the 5% fee for more) would be withdrawing more than the national average salary
But you also have to consider that their rate of exchange is subject to change 3,4, or 5 times a day, back and forth! Itâs very volatile.
I donât think exchange rate matters here/donât see exchange being done. To me it reads like the article is pandering to Americans is all
They have to become reliant upon their ability to manage finance, and put a stick in corruption, in order to stabilize the economy. I read the article, but I also know intimately whatâs going on with the government itself that is contributing to their seeking relief by alternative means. Weâll just have to stay tuned and see how they work it out. They have a sucking chest wound, and a Band-Aid wonât help. All we can do is teach them here and send them back to handle their affairs.
On the other hand, imagine having to justify withdrawing your money from a banking institution or even an apparatus supported by banking institutions.
Is it still legal for me to withdraw a couple of thousand dollars in the U.S.? Do I have to explain myself? I earned it, they taxed it, Iâll use it as I see fit!
I have very expensive lawn service!
6 Likes
And a white targetđ
4 Likes
Sorry about the angle, from that distance itâs hard to read.
I prefer âmyâ targets, close!
This should be legal if theyâre going to start banning guns!
3 Likes
Little closer to home. I like your attitude though⊠no one should lose sleep over something they cannot control!
Same as coerced medicine. You resist â they desist.
OK⊠A little closer this time⊠but there is still huge Atlantic Ocean area than keeps me calmâŠ
Perhaps Bank of Greenland or Bank of Montreal decision would make me nervous about it⊠but I doubt I will need anything more than bread and cup of coffee for everyday happy life when that time comes.
1 Like
This explains why that famous Nigerian prince wants cash, so badly. He can only withdraw $45 / day!
2 Likes
Where did he go? I donât know, he went in there with a backpack on, and I havenât seen in a month! Do you suppose heâs still in there? I donât know, why donât you go in there and try to find himâŠoh, and here, donât forget your backpack.
1 Like
Talk about economic challenges. You just destroyed Hollywierd with that comment. So much for glitz and glamour.