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Nairaland Forum / Nairaland / General / Business / Banks To Pay Customers Money Sent From Abroad In Naira (41775 Views)
What Is Happening To Banks? Can't Receive Money Sent To Me / CBN Directs Banks To Pay Customers With ₦100, ₦50, ₦20, ₦10, ₦5 Over-The-Counter / Fight Breaks Out In Banking Hall As Bank Refuses To Reverse Customers' Money (2) (3) (4)
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Banks To Pay Customers Money Sent From Abroad In Naira by Ibrahimcoomasie: 5:50am On Feb 09 |
Access, GTB, UBA, Zenith Others To Pay Customers Money Sent From Abroad in Naira, Give Exchange Rate Nigerian banks have started the implementation of CBN's new requirements for international money transfer operation Based on the new rule, commercial banks are now allowed to convert customers' remittances from abroad to naira Also, CBN placed a ban on the dollar and other foreign currency payouts for international transactions received through IMTOs https://www.legit.ng/business-economy/money/1577735-come-passport-nigerian-bank-announces-internation-money-transfer-operation/ 41 Likes 4 Shares
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Re: Banks To Pay Customers Money Sent From Abroad In Naira by Forkthiefnubu: 5:58am On Feb 09 |
The aboki jiahadist seems to know more about liberal economics than the fake lagos wiz kids, i have always known that these scare face boys are full of hot air 127 Likes 18 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by mycar: 6:13am On Feb 09 |
How then will BDC get inflow? 6 Likes 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by OlujobaSamuel: 6:15am On Feb 09 |
Better, we are getting there 81 Likes 10 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by money121(m): 6:15am On Feb 09 |
Update 6 Likes 2 Shares
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Re: Banks To Pay Customers Money Sent From Abroad In Naira by Bobloco: 6:24am On Feb 09 |
Another trial and error policy from the patch patch CV CBN governor 195 Likes 14 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Namaster: 6:30am On Feb 09 |
Tinubu and Cardoso have made another HUGE mistake. Fools are tightening the noose around banks receiving Forex inflow when there are LITERALLY tons of other ways to receive your money. No one will use banks to receive money with their nonsense exchange rates when there are better options out there. Cardoso is a prime example of an extremely inspired idiot. Imagine creating more hurdles for receiving Forex when the country is already groaning about NOT receiving any Forex in the first place. That's like pouring MORE water on a drowning man. Tinubu has no idea what to do with Nigeria. He's too proud and too nepotistic to get people who can help him out of the mess he's created. 292 Likes 42 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Nbote(m): 6:30am On Feb 09 |
2Radii: See how you are contradicting yourself. First you started by throwing shades at "flat in headdies" by claiming they'll have something to say but then went further to have something to say. Banks do not give dollars, the CBN does and you get by applying through a bank. Now the CBN has asked them to sell off the ones in their custody and now asking them to pay naira for dollars sent. Isn't that accumulating the same dollars they are forcing the banks to dispose off? 129 Likes 8 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Macphenson: 6:36am On Feb 09 |
Nnaaa mehn, I thought Tinubu is a master strategist, I never knew he is a trial and error strategist. On this issue of dollars scarcity, stop corruption and looting by our politicians and civil servants and trust me we will have enough dollars in circulation. When they loot in Naira, they use their loots and by up the dollars in circulation and store in either their bank accounts, or their vaults at homes or use it to buy properties abroad. Most of these estates in high brow areas in Lagos and Abuja with tight securities have so many vaults stashed with dollars. 179 Likes 13 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by olaric(m): 6:38am On Feb 09 |
Well 1 Like |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Cassandraloius: 6:41am On Feb 09 |
Hmm... Can it work? 2 Likes |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by lanre9ja(m): 6:46am On Feb 09 |
It's a good things but what's the effects to the economy 3 Likes |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Marvieduke(f): 7:03am On Feb 09 |
Still on still it does not reduce the dollar... 7 Likes 2 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Realdeals(m): 7:03am On Feb 09 |
It's a good policy to bolster the Naira, IMTO fund is different from inflows to Domiciliary acct. But, the bank that convert my USD to NGN, should be able to provide me with USD if the needs arises, especially for basic online transactions. Maybe it is time to reactivate USD transaction on Naira card. 49 Likes 2 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by crossfm: 7:03am On Feb 09 |
Hehehe. Whatever they do to fix hunger is ok,but they should not make it worse by all this their fire brigade approach. 5 Likes 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Greenfaces: 7:04am On Feb 09 |
Further creating dollar scarcity 21 Likes |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by RepoMan007: 7:04am On Feb 09 |
A very dull move. Folks abroad already device means of meeting locals in need of forex over social media where they exchange at better rates. The banks and CBN staffers know better and are only saying what Oga-on-top needs or likes to hear. 45 Likes 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by NaijaCoverBlog(m): 7:05am On Feb 09 |
Nawa o 1 Like 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by datola: 7:05am On Feb 09 |
Hmmm... Hope this is not another economy crisis brewing.. 3 Likes 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by JayPeeOham: 7:05am On Feb 09 |
Namaster: Same Nigerians knew this from the day 1! The only thing Tinubu had in mind was to fulfil his lifelong ambition of being the GCFR and to receive lifetime title as a dormer president nothing more! Now that he has achieved that, Nigeria can burn for all he care! Any sane Nigerian who thinks we have a president must have his/her head check for insanity 83 Likes 7 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by maxtop(m): 7:05am On Feb 09 |
I swear down, this Tinubu boys are all dunderheads, they just woke up at the wrong side of the bed and spitting rubbish with confidence. We shall see sha !!! 44 Likes 6 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by ivolt: 7:05am On Feb 09 |
May be counterproductive in the long run unless the official and parallel rates is unified. 16 Likes |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Kaido: 7:06am On Feb 09 |
Na to dey send USDT wallet address 57 Likes 7 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Johnrake69: 7:06am On Feb 09 |
Lol |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Inspirer1: 7:06am On Feb 09 |
End of Domiciliary Account. End of Black market. 31 Likes 2 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by jmoore(m): 7:06am On Feb 09 |
Can't the government be sued for this? Person send dollar, you are forcefully converting it to naira at your own rate, not the rate of the receiver. Legal robbery! The clueless people that brought this idea will end up pushing many people to other platforms that can't be captured officially. 74 Likes 10 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by AntiChristian: 7:07am On Feb 09 |
I see many abusing the government without just one solution to the imbroglio we find ourselves in. There's actually no solution that we Nigerians won't find a way to bridge! Nigeria go better! May Allah guide our leaders and us the led! 23 Likes 2 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by gigabyte13: 7:07am On Feb 09 |
If no be madness Why pay them in foreign currency before.... Black man with black brain.... You convert your own naira right in your own country to equivalent of foreign currencies before you send it. Una just like to dey use nonsense oppressed unasef for this country. Person go dey spend dollars and pounds anyhow in a country with her own currency...... ![]() ![]() ![]() Even government officials are not excempted 79 Likes 6 Shares |
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My Experience In The Bank Today / Abuja Women Shop At Local Markets Due To Economic Situation / CBN Blocks Money Transfers Into The Country From Most Operators
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