There is a new policy from the Central Bank stating one can only receive money through Western Union or any money transfer with a bank account.

That means you must have an account with the bank you are withdrawing money with.

If you do not have an account with the bank, you can't withdraw money hoha!

In my bank today, I was told they turned back a Yahoo boy who had a bank account but wanted to use a different name to withdraw WU. His request was declined!

Its great and I hope more strngent policies will be introduced.

Whats your view?

it's rather late, some other means would be discovered,, u can never underestimate the thinking faculty of these yahoo boys

In as much as the yahoo boys have been succeeding in the past with the collaboration of some bankers, then this move won't survive their tactics. I always say that only a greedy man falls for yahoo-yahoo and sometimes, it soothes them well. The only thing that bothers me now is that they (Yahoo-yahoo boys) give the country a bad name and a bad image.

I don't think the policy will destroy Yahoo Yahoo. But I do think it's commendable that he is trying to do something. Yahoo Yahoo is costing us more (as a nation and as individuals who want to do genuine business on the internet) than we know.

grandstar:

There is a new policy from the Central Bank stating one can only receive money through Western Union or any money transfer with a bank account.

That means you must have an account with the bank you are withdrawing money with.

If you do not have an account with the bank, you can't withdraw money hoha!

In my bank today, I was told they turned back a Yahoo boy who had a bank account but wanted to use a different name to withdraw WU. His request was declined!

Its great and I hope more strngent policies will be introduced.

Whats your view?

It is step in the right direction but we need tougher laws in order to redeem our battered image. If only the bankers will comply because some of the bank staff are allies of these fraudsters. EFCC should be up and doing.

IT dosent make sense,  where does that leave vacationers that my be stranded and need urgent money,  or people dat use banks dat dont have western union function, It kinda kills d point of d whole instant cash thing,  and trust me, this is Nigeria, im sure d   yahoo boys have already found a way, This will just result in d mass creation of bank accounts with fictitious names and details.