la furia:
Oct first? I sent money on Wednesday through Western union and the recipient collected it on Thursday with no problems. Sent another yesterday as well
I sent from the UK, so perhaps it has to do with the country you are receiving from.
In summary, Western union is still active.

keyremotes: What would it have cost them to send mails oe sms to their customers intimating them of this development?
Cusomers only find out on getting to the bank.
Very backward way of business.

cycline404: The only bad thing i see about this policy is the exchange rate with CBN, a situation where by in the black market (aboki) will change a dollar for me @ N161 and the bank will change it @N152 that is a gap difference.
Alongside, almost all the banks has there own aboki to help you in exchange of money... So what is the point....

Toyosi R:

They said they dont accept that. But i hope the international passport will be ready by Monday and i'll go pick it up.

thanks jaare

erico2k2: Plz I like to knw one thing here,
Why would anyone want to collect dollars as payment frm WU?.I like to hear frm recievers of Wu.

fuckluv: Wa lo sun

bigtt76: CBN new regulations on on foreign exchange remittance and importation.

docjuli: GTBank has stopped Western Union services. No date for the recommencent was announced and no reason was given.
While on the other hand (actually my left hand) FCMB insists receivers must have a bank account with them before payment can be made using the undisputed 'prevailing' Dollar rate.

But why?¿?

cyntiathis: I stoped collecting usd for long. i better loose few thousand and save myself from the abokis and there abrakataba.
Imagine changing money from the bureau de change only to get home and find out that you have been shortchanged,
at times the whole money will grow wings and disappear.

k_flexxy: Diz Country Don taya me ooo

mrkels: Yes, got the mail since september. Its to put an end to these scams. Now to collect you should have a bank account and also proper kyc must be in place. They also want to regulate the naira exchange rate. I see better things coming from this in the future .

erico2k2:
Like seriosly U in the Uk and use western union?

erico2k2: Plz I like to knw one thing here,
Why would anyone want to collect dollars as payment frm WU?.I like to hear frm recievers of Wu.

kingphemy:

Due to the new CBN regulations you can only receive the naira equivalent if you are sent any money from abroad. That is, no more dollar or pound payout.

And if you are paying for goods/services abroad you pay the naira equivalent, which the bank will do on your behave. That your domicilliary account is now useless. Any transaction you do now will always be in Naira even if you are buying meteors from Mars!

bennieman:

Domicilliary account is not useless because you can still withdraw any cash in your dom account in the account currency. The Limit is on receipt of International Money Transfers. I would have uploaded it but the document is too heavy for Nairaland.

See CBN Memo titled - CBN circular on New Developments in the Foreign Exchange Market restricting the receipt of International Money Transfers e.g Western Union e.t.c to the Naira equivalent of transfers at the prevailing Interbank rate.

keyremotes: What would it have cost them to send mails oe sms to their customers intimating them of this development?
Cusomers only find out on getting to the bank.
Very backward way of business.

greggng: If I had read ur message earlier I would ve helped u for free . In as much as is not fraudulent money . Depending on were u leave cos am at gowon estate. I ve eco bank and zenith bank acct . My no 08062593234 my name is greg