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Nairaland Forum / Nairaland / General / Business / Banks To Pay Customers Money Sent From Abroad In Naira (42296 Views)
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 / Firstbank Reacts To Rumours That Its Elephant May Swallow Customers Money (2) (3) (4)
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Re: Banks To Pay Customers Money Sent From Abroad In Naira by ifinger: 7:40am On Feb 09 |
Does it mean one can now withdraw naira equivalent from a domiciliary account in Nigeria? 1 Like |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Truvelisback(m): 7:40am On Feb 09 |
I hope it works. 2 Likes 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Paraman: 7:40am On Feb 09 |
It will work if the bank and black market rate is almost the same 2 Likes |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by obas01(m): 7:41am On Feb 09 |
With this new policy dollar will soar higher , expect dollar to soar to 2500 naira( Black market rate) , note these piece and check back if am correct or wrong by December 30th 2024. Reason(s): Nigerians really heavily on dollars (fx) which are not available at the bank only the aboki come to thier aid, now it will be very difficult for Abokis to get dollars, the Abokis will pay any amount to get it ,And will probably buy at a high price and selling at higher price than they get it 😁 , they must make profit na. Note: This measure put in place may seems to have correctional effect theoretically but practically not the solution. Because the system is internally damaged, For solution, I have some ideas . 7 Likes |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Kukutenla: 7:41am On Feb 09 |
This is a good move Next should be allowing naira to dollar transactions and getting international payments to be done in naira equivalents online 13 Likes 2 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Hopium: 7:41am On Feb 09 |
Beautifulday: So how will the send money back home? Lol. Ignoramus. They already lead with gunning for unification of the exchange rates. That's the master key - and it's close to being completely forged. What's rate of usdt, black market, and bank rate? Find answer to that first before posting gibberish. Lol 5 Likes 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by JuanDeDios: 7:42am On Feb 09 |
BreconHills:There's a right and wrong way to go about everything. The right way to kill BDCs is to truly unify rates. This new policy won't make a dent of BDCs. Bookmark this. 2 Likes |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Hopium: 7:42am On Feb 09 |
Kukutenla: You are right! 1 Like |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Funkybabee(f): 7:42am On Feb 09 |
Wonderful Let's start from there 3 Likes 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by femicyrus(m): 7:43am On Feb 09 |
mycar:By embracing farming 3 Likes 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by NinjaMetahuman: 7:43am On Feb 09 |
mycar:they are the target obviously 2 Likes |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Kukutenla: 7:43am On Feb 09 |
Paraman:I'm surprised you're saying this So you're among those hoarding dollars It's a good move What needs to be done now is to get those international payments to be done in naira equivalent of their dollar value It will reduce pressure on naira massively and increase its international demand 11 Likes 2 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by JuanDeDios: 7:43am On Feb 09 |
BreconHills:Are the rates unified now? That's the only way this works. 2 Likes |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by tolue42(m): 7:44am On Feb 09 |
jmoore: Government may bring down those platforms. 3 Likes 2 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Beautifulday: 7:44am On Feb 09 |
Hopium: E b like you never receive money from Abroad before. Peer to peer will lead the highest transaction in coming months. Mark this post. No follow insult the government when it happens. 5 Likes |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by LARRYOBRAIN(m): 7:44am On Feb 09 |
They should seek inflow from wherever. mycar: 2 Likes 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by nairalanda1(m): 7:45am On Feb 09 |
AntiChristian: Well, people are angry because dollar remittances are often times the only way some people can earn extra money and survive, and even grow their earnings. Denying them the right to earn in dollars (while the elite continue to do so with impunity) is enough to annoy a lot of people Plus what government is doing does not fix the problem of Nigeria not earning enough, which is the real koko. 1 Like |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by TruthHurts1(m): 7:45am On Feb 09 |
Ignore the fools. Empty barrels always makes the loudest noise Nbote: |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Hopium: 7:46am On Feb 09 |
JuanDeDios: Lol. What are you saying? When most of them are already closing shops. Lmaoo Bdc won't be killed but the CBN will limit their influence on the exchange rate. FYI, they are now required to have $1m as capital. Fintechs are going to take big market shares from them. 3 Likes 1 Share
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Re: Banks To Pay Customers Money Sent From Abroad In Naira by femicyrus(m): 7:46am On Feb 09 |
JuanDeDios:The unification tinubu did last year, didn't you people bastardised it with further devaluation of the naira so as to continue your wicked profit making without sweat? 5 Likes 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by LARRYOBRAIN(m): 7:46am On Feb 09 |
You are not informed at all, how does this stop dollar inflow; receive dollar pay in naira, sell the dollar in NAFEM. Namaster: 3 Likes 2 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by INTEGRITYA1(m): 7:46am On Feb 09 |
Better, I was discussing this with someone few days ago. I also mentioned it in one of my posts on here. The banks should do the same by selling dollars to common customers in the banking hall. We don't have to be clueless. 6 Likes 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Elliotwaveforec: 7:46am On Feb 09 |
occfx:Dey play! You think the government doesn't have power over cryptos? All the crypto exchanges will soon be banned and you won't be able to access them online. All the Abokis offline will soon be sent to jail for holding dollars in a country that has her own currency. We're moving! We can't have two currencies in one country. Naira is our currency and must be spent by all. 6 Likes 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Coldspice: 7:47am On Feb 09 |
Beautifulday: Exchange from there means whey will buy more Naira from there. Means more demand for the Naira. Hope you know what this means? 3 Likes 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by tolue42(m): 7:47am On Feb 09 |
Namaster: Ogbeni shut up. Government could force those platform exchanging higher rate to register under it's regulations or get delisted from our country. When you send Naira to the US , do you get Naira there or USD? Mumu talk here and there. 7 Likes 5 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Bigkoko: 7:48am On Feb 09 |
Chaiii this patch patch CBN gov don kukuma break the table!!!! As a knock out blow to aboki BDC...... Expect another round of spiralling FX rate! This Lagos wiz kids no understand simple economics! The more you remove options for FX, the more everyone flock to the only source and guess what? Laws of Demand & Supply kicks in! Even unschooled aboki knows this more than oga patch patch! 7 Likes |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Majesty7: 7:48am On Feb 09 |
OlujobaSamuel: That is not how to get there. It will worsen things |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by tolue42(m): 7:48am On Feb 09 |
Coldspice: Don't mind them. Government can even bring down those platforms. 3 Likes 2 Shares |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by Ebubu2: 7:48am On Feb 09 |
tolue42: You can’t bring down crypto I’ll be receiving my money in usdt which is equal to 1,600 naira per usdt crypto Dey play I’ll just show my benefactor how to download binance wallet, load it in his country easily and send me my money. 5 Likes |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by LARRYOBRAIN(m): 7:49am On Feb 09 |
What do you know? Just posting rub. bish maxtop: 2 Likes 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by BigDawsNet: 7:49am On Feb 09 |
They will force the unification to saty 2 Likes 1 Share |
Re: Banks To Pay Customers Money Sent From Abroad In Naira by JayPeeOham: 7:49am On Feb 09 |
SirBunky85: Hey Goblin, Need I remind you that this is faceless forum? Well, nevermind I am sure the rumor in your brain will not allow you decipher the simple meaning embedded in that statement! Kindly stay off my mention please, this is me being polite! Thanks |
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