CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals - Business (7)

Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,186,713 members, 7,930,443 topics. Date: Saturday, 24 August 2024 at 06:21 PM

CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals - Business (7) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals (47111 Views)

Opay, Kuda, Others Resume Registration Of New Customers As CBN Lifts Restriction / CBN Lifts Ban On Cryptocurrency Transactions / CBN Okays Withdrawals Of Dollars From Domiciliary Accounts (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (Reply) (Go Down)

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Bfly: 4:32am On Jun 19, 2023

The masses should be well educated on these continuous fluxing of policies

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by onatisi(m): 5:04am On Jun 19, 2023

all these policies is SUBJECT TO THE BANKS HAVING THE DOLLARS, if they do not have the dollars there is nothing the bank customer can do about it , but the catch now is people can deposit dollars in their account and withdraw over the counter or use it as they wish, i think these was missing during the time of emefiele .
as it is now , banks can buy dollars from aboki and sell it to you if they like and you agree to their rate, if not you will have to find ur own dollars and fund ur account.

Buddha3:

I know, but sadly, this is Nigeria. Our major currency is the Naira. You don't expect to get foreign currency supply in abundance, do you? It is going to rubbish the relevance of our currency and lead to inflation.

You can't go to the USA and walk into any of their banks and expect that you'll withdraw 5million naira over the counter easily. You won't get it. Cause they won't have it. They float and promote their own currency the most.

You Nigerians really have to understand how some of these things work. It's not everytime you read things on the news that you'll rush to leave comments in condemnation of your country. If you reason logically, you'll understand the practicality of these things.

2 Likes

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by miblolo(f): 5:08am On Jun 19, 2023

Igwe9:
nothing new, USD deposit was never restricted, has since been lifted. when was that ? Those that were paying N5 for every 1USD received abroad. I have always deposited without any challenges. APC and propaganda,
The one we are looking forward to is naira master or visa card usd paymen

There was restriction... I think to 10000 USD per week or so

1 Like

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by tolue42(m): 5:25am On Jun 19, 2023

Igwe9:

You don't even know what you are saying, weeks or a month, someone that is sure of what he is saying doesn't use such words

How much can you spend on your Domiciliary account in a month before?

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Igwe9(m): 5:31am On Jun 19, 2023

sunboy:

You have also been able to withdraw cash too right ?

sure if available

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Igwe9(m): 5:35am On Jun 19, 2023

tolue42:

How much can you spend on your Domiciliary account in a month before?

I have never been limited after 2016 but you may need form M in some cases unless student school fees or money to friends and families.
Anyways, my international transaction was limited by exchange rate and usd fluctuation

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Nobody: 5:37am On Jun 19, 2023

inoki247:
Eh eh...

Gradually we are getting dere...

People wey still dey hope on dere Debit card doing international transaction you will soon be getting dat buh guess what na Abokii rate Bank go dey give u...

Make una no go think say na the Arbitrage way like before no more free money na Bank go dey determine the rate nd it won't be different from what any online Dollar Virtual card services are giving you now....

Then, it is a very good policy. Most people have no problem with that provided their domiciliary account is functional, $10K is a good deal.

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by GeneralDae: 6:14am On Jun 19, 2023

sharone21:
Too many nonsense under the last regime

Hope our Naira cards can be used abroad?

Can we put money in Domiciliary account and send to Naira account if we like?

Can we also send out money via Western Union?

Those travelling abroad will no longer get reduced price for dollar though.

Maybe in a few months if we have more dollar supply.

1 Like

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by tj4luck(m): 6:29am On Jun 19, 2023

Are you suffering from any infection, whether it has caused infertility, no/irregular menstruation, miscarriage, kidney disease, weak erection, quick ejaculation, watery sperm, low libido or reduction in penis size, our product INFECTAX herbal flusher with cure it permanently. Contact us today

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Emmanuel909090: 7:06am On Jun 19, 2023

Good improvement

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by naturefellow(m): 7:18am On Jun 19, 2023

emerged01:

I like the words "you may" . Only if I do all that you mentioned but if you do you will meet retribution in no time.

cap fits you, wear it. You got nothing on me!

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Jeffy1206(m): 7:26am On Jun 19, 2023

This one is rubbish! Make our master and visa cards pay dollars and other currencies online.

1 Like

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Etfash(m): 7:31am On Jun 19, 2023

Igwe9:
nothing new, USD deposit was never restricted, has since been lifted. Those that were paying N5 for every 1USD received abroad. I have always deposited without any challenges. APC and propaganda,
The one we are looking forward to is naira master or visa card usd paymen

You couldn't transfer USD among DMBs in Nigeria.

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Queendera(f): 7:37am On Jun 19, 2023

Nazgul:
Lol, what's the point, the reality here is that it would be almost impossible for a bank to give you $10k cash unless you're a politician. They'll always tell you that they're short on $$$.

I think that's already rectified.

I mean the black marget rate and official rate has been made parallel, so whether bank or aboki, you are getting it at 660-750.

So no real advantage in getting it at the bank. Of course, there will be shortages now but in the long run, it'll make little differences.

So yeah, this policy is the next logical step. We shouldn't have caged our currency for so long while leaving in denial of reality on ground

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by saysoo: 7:52am On Jun 19, 2023

nairalandkachy1:

https://m.facebook.com/story.php?story_fbid=pfbid0pq7Bxsj6wmG7L5QcFhMosjhbfEcDb1bhkgTTTa6GSQKhXXFCoxXMwQyfqMfnKmHul&id=100068850777180&mibextid=Nif5oz

A bird born in a cage thinks those flying are sick. All these policies on one subject are counter productive. Ask Putin how far?

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Nobody: 7:53am On Jun 19, 2023

Buddha3:

Oga, next time read a comment properly before replying. I'm not about to argue with you in a bid to try expressing superior intelligence.

You CANNOT walk into any American bank and seek to withdraw "5million naira" in Nigerian currency, as a Nigerian, and expect to get it. That's what I meant.

The US floats their currency and diminishes the relevance of any other currency, especially within their territory. So for Nigerians to always want unlimited access to the US dollars while living within Nigeria is very despicable. It's like you want the dollars to be in equal supply alongside the naira in our country. Yet you'll be the same person to complain of inflation tomorrow. If you don't understand my point, then I'm done with this conversation.

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Dadadididacontr: 8:03am On Jun 19, 2023

Please Nairalanders, How will this news enhance prompt payment of School fee abroad without going for black market.

Secondly, will this news speed up CBN Form A procedure to hasten payment.

Please the experts in this should help.

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Hoelujohn: 8:05am On Jun 19, 2023

TemitayoMark:

So the damness of all Niggar can say something positive for once. You are truly damned and condemned Nigga

How does the policy affect the lives of over 100 million poor Nigerians who haven't seen what dollars look like?

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by EteBabaagba222(m): 8:08am On Jun 19, 2023

slawomir:
Damnnn niggar

Nice

So?

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Cassandraloius: 8:11am On Jun 19, 2023

drizzit:
We need our Naira cards to function for international transactions.....that should be the next logical step for the CBN

This is a great idea, I wish they could see this.

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Dadadididacontr: 8:15am On Jun 19, 2023

Hello Fellow Nairalanders, please I need the experts advice with these question.
1. With this CBN news, How can I pay for tuition fee abroad without going through the Black market within short interval.

2. With the recent CBN news can I pay without going through the CBN FORM A long Queue die to time limit.

3. Can the tuition fee be paid directly through my Bank without at the current bank rate.

Please expert advice is needed.

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by SLOVFO(m): 8:21am On Jun 19, 2023

MrMcJay:

This is majorly for Dorm account holders.

Previously, if you deposit cash into your Dorm account, you won't be allowed to transfer it out except if your inflow was a transfer also.
I guess what this directive says now is that you can transfer cash deposits.

I guess so too. I didn't see anything about cash withdrawals...

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by santuspearl: 8:27am On Jun 19, 2023

GWMI:
Tinubu is turning nigeria around.
Good Job cbn

Haha.. Ignorant dumb person spotted? How is he doing that? How does this thing now affect you positively or u think u can just open ur mouth and talk, hunger wan kill you but you dey Yan gibberish

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by tnerro1(m): 8:36am On Jun 19, 2023

I told you guys that there is a difference between a northern president and a southern president. One is an abokii and the other a reformist

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Atticusxsz(m): 8:41am On Jun 19, 2023

UAAG doings o.
Apostle Amb. Ken Nwakanma, it's time to do the do.
No time to waste time. grin

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by freemi(m): 10:33am On Jun 19, 2023

Igwe9:
nothing new, USD deposit was never restricted, has since been lifted. Those that were paying N5 for every 1USD received abroad. I have always deposited without any challenges. APC and propaganda,
The one we are looking forward to is naira master or visa card usd paymen

even if it's 20$ per month we will manage. De shud allow international transaction with naira card pls

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Adlac(m): 10:37am On Jun 19, 2023

slawomir:
Damnnn niggar

Nice

Nice you mean?

But, you are so pessimistic this govt will fail!

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by BloomingDale(f): 10:53am On Jun 19, 2023

Jeffy1206:
This one is rubbish! Make our master and visa cards pay dollars and other currencies online.

If you earn in DOLLARS, you have a right to use your dollars. If NAIRA, then you have the right to use your Naira. If you earn in NAIRA and are demanding DOLLARS, then you have an entitlement issue which no one is going to feed into.

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Charisma01: 11:25am On Jun 19, 2023

complexstuffs:

Anytime you want to drink IPOB/OBIDIENTS tears, just post any good news about Nigeria and they will flood your thread with their sweet tears

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by complexstuffs(m): 11:32am On Jun 19, 2023

Charisma01:

Many are PDP dancing around Tinubu because he is doing good.

To IPOB/OBIDIENTS , any good news about Nigeria will put them in serious tears and gnashing of teeth.

Buhari commissioned Dangote Refinery in Lagos, OBIDIENTS started crying
Buhari commissioned Roads and bridges in Kano, OBIDIENTS started walking
Buhari commissioned roads and bridges 9n Kano, OBIDIENTS started rolling on the floor with serious stomach pain

(1) (2) (3) (4) (5) (6) (7) (8) (Reply)

Ladipo Market Is On Fire: Pictures & Video / How To Deposit Old ₦‎1000, ₦‎500 And ₦‎200 Notes At The CBN / Akin Osinbajo Visits Seahorse Headquarters In Anambra- Pictures

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 40
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.