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Nairaland Forum / Nairaland / General / Business / Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar (39053 Views)
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Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by stonemasonn: 9:30pm On Jan 21, 2016 |
The CBN chief was an ex bank executive and was nominated by powerful bank owners. So I'm not surprised that the CBN is doing nothing about this ongoing poo. 2 Likes |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by measideyhere(m): 9:31pm On Jan 21, 2016 |
Pidggin:u aint living up to your name .. |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by seyimm: 9:31pm On Jan 21, 2016 |
The secret of making $100 per day revealed.www.nairaland.com/2876973/secret-making-minimum-100-per#42199254 |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by Machine007: 9:36pm On Jan 21, 2016 |
why are we complaining, the CBN employed the service of a foreign company (Travelex) and gave them the their terms and conditions the wailers are complaining your own institutions are the one ripping you off. Now you can now compare the banks, BDC's and Travelex (the foreign company) which one is better. |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by Pidggin(f): 9:38pm On Jan 21, 2016 |
measideyhere: I neva start to dey show mysef, for now, na forming levels i dey |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by kenobi007(m): 10:33pm On Jan 21, 2016 |
Heamah: no. u can't transfer from dorm account to another dorm account in Nigeria. |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by Hustoto: 10:34pm On Jan 21, 2016 |
Nigeria has over $1billion outstanding obligation owed by importers to different suppliers overseas that they are unable to pay including oil. the naira value of their import transaction is available but they cant buy FX due to limited supply. Cbn has been unable to meet all these obligations which include raw materials, oil, and other goods that will add value to the economy, is it shopping that u use Ur mastercard to do dat Cbn will now give banks money for? if i were Cbn, given the current FX situation, i wont sell money for mastercard. talking abt devaluation, all monies that importers owe their suppliers and are awaiting Cbn to provide FX(some have not been able to buy FX for up to 3months) were pegged at 199.5 to a dollar. naira was provided at this rate and most of these goods are already sold. Banks too have borrowed customer money to pay their suppliers ay this rate and are waiting to repurchase their money back from Cbn at the same rate.am sure if you add up what customers are owing and what banks have borrowed customer to use to settle their suppliers, it will be more than $2billion dollars. if you now devalue naira the loss that would be faced by both customers and banks would be colossal. meanwhile, this wont bringthe value of dollar down cos crude oil is bellow $28 per barrel and is going lower. the country should better be ready for a very very difficult year. |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by roolnaado(m): 10:35pm On Jan 21, 2016 |
dennisworld1:#stopdollarroundtripping |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by roolnaado(m): 10:38pm On Jan 21, 2016 |
dennisworld1:#stopdollarroundtripping |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by Hustoto: 10:39pm On Jan 21, 2016 |
oga. are very wrong. u can tranfered from your dom act to anoda dom act in anoda bank in Nigeria kenobi007: |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by Hustoto: 10:41pm On Jan 21, 2016 |
oga u are wrong. u can tranfer from dom act to dom act within nigerian banks. kenobi007: |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by abe4kom: 10:51pm On Jan 21, 2016 |
jogojogo:Yea sure. The transaction I made with my GT card last week that I was charged N2,790.11 for a 9.79 USD or the Stanbic of yesterday where 200USD was charged over N58,000 must be from planet Uranus! 1 Like |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by stainlex(m): 11:55pm On Jan 21, 2016 |
bitingcool: A little bird told me that the CBN has instructed banks to negotiate charges on Current accounts with their customers with a cap at 1 Naira per mille. What I'm saying is, COTs are still around for now. |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by babamajor: 2:57am On Jan 22, 2016 |
Its time for change mentioned the name of the bank nd if posible d name of d person dat sold d dollars to u nd d receipt u are given. U cant tel who might read ur complain nd it might lead to somtin else positive. |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by grandstar(m): 3:24am On Jan 22, 2016 |
DoctorTim:I think you have apply formally through your bank here in Nigeria. School fees are given priority in forex |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by measideyhere(m): 7:33am On Jan 22, 2016 |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by Demdem(m): 7:38am On Jan 22, 2016 |
ibe9ja: And how is this a bad thing? |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by holuphisayor(m): 8:35am On Jan 22, 2016 |
.. |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by iwes(m): 8:57am On Jan 22, 2016 |
Shop from Amazon. the rate is super (208 naira to a dollar). But make sure you place your order in Naira. 1 Like |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by carpenter(m): 9:12am On Jan 22, 2016 |
Bevista: It makes me happy to read words written better than I would have written it. I think we need to devalue our currency and even though I also support the CBN on their moves, I think it is just a matter of when they will devalue. On the issue of banks...I think they act legally most times but unethically. However, that has always been the case for banks in most parts of the world. I can confirm there is a part of this PTA and BTA thing that is not clear, the CBN keeps releasing information that it is meeting those needs while the banks continue to refuse to sell PTA and BTA (at least to majority of Nigerians that require it legitimately) and ask you to use their cards. Could it be that the banks still have customers that sell dollars to them which they buy @199 and sell to the public @300? Or are they selling dollars deposited by some of us to to the public at higher margins with hope that we all do not come and collect at the same time. By the way, they even tell you they don't have cash sometimes and there is nothing we can do. I must admit I did this (sell to the bank at the bank rate) in the past but realised I was not being fair to myself. I don't trust the banks because even for cases such as COT that is clearly spelt out, they still act as they please. Finally, why is the fx or treasury unit of the banks a cartel...why do some junior officers in those units receive more bonuses than even some unit heads? Chances are the banks are as culpable as the subsidy receiving thieves but we don't want them to go down because hell might break loose...we try to manage the situation. 1 Like |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by megasoul: 9:35am On Jan 22, 2016 |
wealthprod: The situation is quite pathetic but you can actually take advantage of it by investing in dollars. I've been investing massively in dollars in the past 2weeks and the rate keeps changing almost daily. I'm not really worried though cos the trend doesn't seem like it's gonna revert soon. I'm into 4 different online investment presently. Two of them are already yielding about $50 cumulatively daily and this figure increases by the day. If anyone is interested , I can be reached via call or Whatsapp on 08038536850. I won't be selling any e-books or anything so I would never request money from anyone. It's a promise. If I ever do, pls ignore me immediately. Get in touch with me so I can introduce u to a Whatsapp group where u will learn more abt these wonderful opportunities and rub minds with fellow investors who are making money already. Pls do not contact me if u don't have d wits to take risks. Making money on the internet is not for the lily minded. It's for entrepreneurs, the risk takers. |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by Scholarforever: 11:04am On Jan 22, 2016 |
ibietela2:The right tense to use here is 'tell' and not 'told' |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by solibayo: 11:27am On Jan 22, 2016 |
pinkyruledworld: Yes that orange bank.......they usually charge the highest bank charges in the world |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by solibayo: 11:29am On Jan 22, 2016 |
veraponpo: How does that justify the orange bank charging me around N300/$1......if in doubt get their orange naira mastercard and do some transactions. Come back and testify |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by solibayo: 11:58am On Jan 22, 2016 |
ebenco2000: Even the interbank rates are less than 200......so what are you saying sir ? |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by solibayo: 12:00pm On Jan 22, 2016 |
mployer: What's your proof sir....please ask a top level management bank staff before drawing conclusions |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by solibayo: 12:18pm On Jan 22, 2016 |
mohlanforex: Very very big big fat lie.....gtbank charged me at N284.99/$1 as at 19/1 when i just wanted to renew my netflix subscription for $8.79 and i was charged N2505.11 on my gtbank naira mastercard |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by solibayo: 12:27pm On Jan 22, 2016 |
doplove: God bless you sir.....we are just fond of defending mediocrity and incompetence in this country for no reason |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by solibayo: 12:32pm On Jan 22, 2016 |
Dyt: God bless you bro......i don't know where that liar got that bogus exchange rate from.....abi is it not the same orange bank? Its not hard to know fake posters paid by greedy corporations |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by Dyt(f): 12:47pm On Jan 22, 2016 |
solibayo: You haf feks |
Re: Why Do Our Bank Charges Us N301 While Cbn Sell For Them At N199 Per Dollar by AdeMoss: 1:10pm On Jan 22, 2016 |
onatisi: NO. You can fund the USD credit card repayment the same way PTA is funded. Advise your bank to purchase from CBN at their advised rate. |
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