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Nairaland Forum / Nairaland / General / Business / CBN Reforms Boost Diaspora Remittances By $172m In A Month (5273 Views)
CBN Reforms To Yield Results In Q2 – Cedrus Boss, Olubusayo Adeniyi / Diversion Of Diaspora Remittances To Black Market Weakens Naira - CBN / CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances (2) (3) (4)
CBN Reforms Boost Diaspora Remittances By $172m In A Month by peekspot(m): 8:36am On Jun 26 |
https://punchng.com/cbn-reforms-boost-diaspora-remittances-by-172m-in-a-month/ 9 Likes 1 Share |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by Amotolongbo(f): 9:02am On Jun 26 |
So diaspora’s remittances is now an achievement. They talked down on Japa, but celebrating overseas remittances. They are lamenting the brain drain, but celebrate the oversea monetary returns. 34 Likes 6 Shares |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by Imusi: 9:21am On Jun 26 |
Please these money should start helping Nigerians out this tough time. Else it's of no use |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by EmeeNaka: 9:28am On Jun 26 |
Diaspora remittance |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by DeLaRue: 9:31am On Jun 26 |
Great. 1 Like |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by tommy589(m): 10:22am On Jun 26 |
"This increase is reflective of efforts by the CBN to enhance foreign currency remittance flows through formal channels." Until I read the above, I was thinking those in diaspora are now directed to work more hours to increase remittance ![]() Even donkey sef dey rest ![]() 6 Likes |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by omoredia: 12:39pm On Jun 26 |
People that should be looking for more sense are looking for more revenue. FooIs 8 Likes 1 Share |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by WhizdomXX(m): 12:40pm On Jun 26 |
Let it show in the life of citizens. 1 Like |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by humberjade: 12:41pm On Jun 26 |
Well, the increase in remittance is not far-fetched, it is as a result of the hyperinflation affecting the Nigerian economy. For example, a mother you used to send 200k to for monthly upkeep now needs triple of that to sustain her upkeep from a year earlier. Also in the same vain, those in the diaspora too needs to work like horses to meet up with these new demands and keep up with their own bills too. E dey touch everybody so to a large extent, it is nothing to rejoice about. lionshare: hmohammed: allthingsgood: For all of you mentioning me, it is okay to disagree with me but I still stand by my position. We shouldn't just look at this news on face value, it has deep meanings and causants. It is just common sense economics. 1. Not that those in diaspora necessarily had an increment in their monthly pay, but they are forced to send more due to the new realities back home. 2. Due to the weakness of the Naira they can even send the same amount, but it will be more than it was a year ago. E.g 100 dollars was about 40k naira early last year, but it is now about 160k naira. 3. Not to mention they now need to send more home to meet family obligations. 4. It would have been a lovely news if there wasn't hyperinflation, the economy would have benefited from it hugely. 7 Likes
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Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by EyeCumInPiece: 12:41pm On Jun 26 |
Na so. Locozade Boost. ![]() How will this bring down price of Garri in the market. 3 Likes 1 Share
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Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by GreenxGreen: 12:41pm On Jun 26 |
![]() Audio !!! Apart from Bad News , is very hard to believe anything from this APC calamity government 😡😡😡 3 Likes 1 Share
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Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by Akinpresident: 12:48pm On Jun 26 |
Nonsense So people sending their loved ones money home or people earning from their jobs abroad are now govt's achievements? 😂 If they want to reduce the pressure on the dollar, they should reverse all the evil the last administration did to FX transactions. First, allow people to use their bank cards and make payments anywhere dollar is accepted. That's how it works before. If I can pay anywhere in the world with my card, why do I need to go collect physical dollars from the bank? This will make more FX available for importers and other bilateral activities. Secondly, allow people to receive foreign currency sent to them in their local bank account. That's how it was before. Money I made from freelancing platforms were paid to my bank account directly at CBN's rate. Nowadays, you'll need a dorm account and then you'll go withdraw the physical dollar and start looking for aboki to give you naira and take the dollar. Nonsense if you ask me. Revert the era of receiving dollar in your naira account. Why do I need to keep dollar when I'm spending in naira? And to be honest, the decision of the Buhari govt to impose all these restrictions didn't anyway help the Naira. So why continue to punish citizens with unnecessary constraints? Until they remove all these anti people restrictions, naira will still be dancing at this level. 5 Likes 1 Share |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by BreconHills(m): 12:48pm On Jun 26 |
Amotolongbo: Overseas remittances have outperformed capital importation for several years so it is a big deal. Added to the estimated $100bn sitting in domiciliary accounts, Nigerians will save Nigeria. It's in our hands not MNC's. 4 Likes
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Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by Kelklein(m): 12:48pm On Jun 26 |
Since the beginning of this week, it's been CBN this, CBN that.. I see a desperate attempt to push a PR and they are paying heavily for this.. If you do the right things, your results would be your best PR. Paying the media to push a narrative would only push you deeper into the hole you all have dug for your selves.. Nigerians are hungry. 2 Likes |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by ejieddy: 12:49pm On Jun 26 |
The monetary policies must be complemented by fiscal policies. If the CBN's monetary policy is working and the finance, budgeting and planning is falling behind due to the ineptness of Mr Wale Edun, the so called finance minister and coordinating minister for the economy, we will still end in soup. 1 Like 1 Share |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by Blazetrailer: 12:51pm On Jun 26 |
LOL!! who is behind all these senseless propaganda? Foreign remittances, an achievement ![]() Besides, who uses CBN for remittances these days? Those running this current government are dumber than i thought 2 Likes |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by travelzcruix: 12:52pm On Jun 26 |
Untop person money, them mark am like achievement. Anyway, make una sell land send one person go Yankee, wey go remit on behalf of the family. 2 Likes |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by Smartcitizen: 12:53pm On Jun 26 |
Hmmm! WHO WILL SAVE TINUBU AND HIS GANG FROM THIS TOO MUCH LIES? FUNNY THING IS THAT THEY ARE THE FIRST TO ACCUSE OTHERS OF WHAT THEY DO WITH EASE. TERRIBLE LYING MACHINES. 2 Likes 1 Share |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by JohnOkolo: 12:55pm On Jun 26 |
Amotolongbo: You should have understanding in anything before you talk about it, please. Such will help you as you continue your journey in life |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by ottersberger(m): 12:55pm On Jun 26 |
Amotolongbo: I've made clear in this platform that diaspora remittances are superior to our oil receipts, therefore powers Nigeria. Na people like me dey help feed Nigeria and Tinubu's family, yet his army of jobless miscreants who contribute nothing to the national well-being except insults and bare-faced lies, daily flood in here to deceive themselves. Countries like the Philippines, India, and North Korea are largely dependent on diaspora remittances to finance the national budget. Nigeria will not meet it financial obligations without these monies from hardworking Nigeria expatriates and hustlers who cannot vote, and get talked down on by the dishonorable idiots in Abuja who claim to represent them. 3 Likes |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by Amotolongbo(f): 12:56pm On Jun 26 |
JohnOkolo:thrashbin content 1 Like |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by Kelklein(m): 1:00pm On Jun 26 |
Akinpresident: In fairness to Government, alot of people were abusing that system.. so many people were simply keeping and hoarding Dollars for speculative reasons |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by Khyrvxjzy: 1:01pm On Jun 26 |
inu rirun fun igbo |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by Bluntemperor: 1:04pm On Jun 26 |
Amotolongbo: Yes, because we are talking FOREX here, coming to Nigeria or may be you don't know! If they failed to remit or would you go to banks to make a bankable Projects,so that the Masses can take you seriously? Do you have understanding of real International Politics of Money Making ,Confidentiality ,Integrity, Reliability, Accountability and of Responsibility,which every Country and its Citizens can proudly look up to? Govt is a serious business affairs and not everyone understands the Concept, Only the true geniuses ,who are thoroughly focused and ready to make impacts on the Masses! It's not a boyfriends and girlfriends thing! 1 Like |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by DCmonster: 1:06pm On Jun 26 |
So remittance is now achievement? Anyways I am not remitting anything aside from funding my parents from the money I get from that shithole. I will start remitting after APC is thrown out of power. |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by Amotolongbo(f): 1:06pm On Jun 26 |
Bluntemperor:thrash 1 Like |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by REALretep(m): 1:13pm On Jun 26 |
Continue with the propaganda. Next one plix 1 Like |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by Heffalump(m): 1:15pm On Jun 26 |
The headline is a big lie. If there's an inflow of $172m per month the exchange rate will crash by now. Everything about APC government is fake! |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by rinzaugustine: 1:15pm On Jun 26 |
Imagine admitting their failure is now pushing Nigerians overseas to do the job a government is supposed to do and even proud of it…smh So the diaspora’s magnanimity in sending money to their families to avoid them from starving from tinubunomics starvation economic policies is now considered an achievement of tinubu? What kind of stupid and unconscionable propaganda is this? ..smh at least we now know the reason for the increased insults and attacks against Nigerians online from Ghanaians to South Africans , Niger, Cameroun etc accusing Nigerians of being idiots for electing a man like tinubu not knowing that Nigerians are victims of state capture from a group a criminals tinubu, Mahmoud, Ariwola etc occupying and totally polluting the most important institutions in the country but just like e everybody knows evil and the people that supported it due to bitterness and tribalism do not last a long time 2 Likes |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by Akinpresident: 1:24pm On Jun 26 |
Kelklein: Govt gave them the means to hoard dollars. Prior to that policy, I didn't have a dorm account. I didn't even need one cos money I was making comes straight to my account in naira. When the restrictions started and exchange rate soared, it gave rise to people withholding the money in their dorm account so that they can sell it when exchange rate is very high. A lot of people wouldn't have seen FX to hoard if they were getting the local equivalent of their FX while CBN keeps the FX. In my own opinion, I feel it was a wrong idea. Regulations to checkmate fraud and other financial negations could be introduced not to overturn a system that made FX transactions easier. 1 Like |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by VanuatuWycombe: 1:34pm On Jun 26 |
Lobish. It’s because of Sallah festival spending, not because of CBN reforms. Na so e dey be for Christmas and new year period too. E go dey low, a month or two, after Sallah and Christmas/new year celebrations. 1 Like |
Re: CBN Reforms Boost Diaspora Remittances By $172m In A Month by allthingsgood: 1:55pm On Jun 26 |
This is news that some people dont like ![]() |
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