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Nairaland Forum / Nairaland / General / Business / CBN Bans Deposits Into Domiciliary Account (62955 Views)
Withdrawing From Domiciliary Account / How To Get Dollar Into Your Domiciliary Account / CBN Bans Use Of Dollars For Overseas Fees, Medical Trips (2) (3) (4)
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Re: CBN Bans Deposits Into Domiciliary Account by sanmibukunmi: 10:29pm On Aug 05, 2015 |
barcanista:The Gods have spoken!!! |
Re: CBN Bans Deposits Into Domiciliary Account by sanmibukunmi: 10:29pm On Aug 05, 2015 |
barcanista:The gods have spoken!!! |
Re: CBN Bans Deposits Into Domiciliary Account by menxer: 10:31pm On Aug 05, 2015 |
conyema12: if it is officially available but scarce on the black market, to whose advantage is that? if only people with genuine foreign transactions look to buy dollars, officially, who will bother about black market rate? 4 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 10:33pm On Aug 05, 2015 |
ERODEDEAST: This is a public forum. If you don't have something sensible to say on a topic, just shut up and move on. Na by force to comment? Many of you need to learn how to conduct yourselves. Stop spreading ignorance and foolishness. You guys find it so easy to call Buhari names but you're not acquitting yourselves on technical matters. You call Buhari a blockhead yet your own posts don't make any sense whatsoever! Young boy, now run along to sexuality section. A man need not have sense before his manhood rises. That's where you belong. 10 Likes 1 Share |
Re: CBN Bans Deposits Into Domiciliary Account by atlwireles: 10:33pm On Aug 05, 2015 |
menxer: Most importers already use this process. The people this will not work for, are the little people trying to make a living. |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 10:34pm On Aug 05, 2015 |
You are a soldier? #RespectBoss.. It is my prayer that Nigeria succeeds and we get things right. I have utmost regards for servicemen especially the military and police. I hope we get things right. Asuokaa: 6 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by AdeniyiA(m): 10:37pm On Aug 05, 2015 |
barcanista:are you looking at the long or short term effect? ![]() |
Re: CBN Bans Deposits Into Domiciliary Account by mavinc4u(f): 10:38pm On Aug 05, 2015 |
How would people coming into the country from another country be able to change their currency since nobody would be accepting it here? Why is bank card rate going up instead of coming down like parallel market and why is official rate still stable at N199? I still find it difficult to understand the joy in this news. |
Re: CBN Bans Deposits Into Domiciliary Account by uridadole: 10:38pm On Aug 05, 2015 |
barcanista:I don't know wht bacanister studied in schl but whatever, he seems to be too negatve in his observations. No economic policy is without (opportunity) cost. We must appreciate the effects of dollarised Nigeria economy to naira. Its not done any where. My company employs over 5000 foreigners and they are hitherto, paid in dollars direct to their home country accounts but due to this policy, they will now be paid in naira in nigeria (reduced pressure on forex) the employers may be compelled to substitute nigerians for these foreigner substantially. Tangible imports is usually thru form m which has not changed. Let's be positive and pray for success of genuine efforts to rescue our country and our damaged economy. 11 Likes 2 Shares |
Re: CBN Bans Deposits Into Domiciliary Account by dvee2: 10:41pm On Aug 05, 2015 |
how about people that receive share dividend in Dollars into my Domiciliary account? |
Re: CBN Bans Deposits Into Domiciliary Account by menxer: 10:43pm On Aug 05, 2015 |
atlwireles: little people can use their naira mastercard or PayPal (yes, linked to ur GTBANK mastercard) 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by ERODEDEAST(f): 10:44pm On Aug 05, 2015 |
![]() 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by Boss13: 10:45pm On Aug 05, 2015 |
atlwireles: I have concerns too. I think the CBN needs to educate the public. In a view of curbing money laundering, this directive is a welcome development, but my concern is for legitimate businesses. This also means if you travel and bring back dollars, no need keeping them or spending it here because it is useless |
Re: CBN Bans Deposits Into Domiciliary Account by obrian(m): 10:47pm On Aug 05, 2015 |
dvee2: Share dividends in dollars won't come as cash deposits. They will be transferred into the respective domiciliary accounts, so the ban does not affect such situations! 4 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 10:47pm On Aug 05, 2015 |
bejeria101:My brother, that's why I tire for that Emefiele of a man o. He's too quick to impress 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 10:47pm On Aug 05, 2015 |
owobokiri: What are exporting currently? Nothing but crude oil. Since we are still importing, Naira should be strengthened so that imported goods will be cheap in the meantime till we begin producing first for local consumption and then exporting. The more Naira stregthens, the better for the man on the street. 4 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by Boss13: 10:48pm On Aug 05, 2015 |
mavinc4u: Foreigners from other country do not utilize cash so much like Nigerians. We just love our cash 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by ManTiger(m): 10:49pm On Aug 05, 2015 |
atlwireles:You can pay with your naira Master card on aliexpress I know and this issue is not about not being able to make importation, it's about discouraging the usage of dollar in our economy! 2 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by menxer: 10:50pm On Aug 05, 2015 |
dvee2: my understanding of this is that you can withdraw monies transferred/paid into your Dom account from abroad in NAIRA equivalent in NIGERIA or dollar, but cannot DEPOSIT DOLLARS in CASH in NIGERIA. 6 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by atlwireles: 10:51pm On Aug 05, 2015 |
menxer: You people should acknowledge the fundamental problem here and stop fixing a capital flight problem with more capital control. The Naira is going down, there's nothing anyone will do to stop another 20-30% devaluation of the Naira before December. Nobody wants to be caught holding assets that is going lose 20 or 30 percent of their value in another 3 months. Leave the small importers alone, they are not your problem. |
Re: CBN Bans Deposits Into Domiciliary Account by Boss13: 10:52pm On Aug 05, 2015 |
YerYer: Well the scarcity of dollars is what has made it appreciated to 230 per naira. The official rate is 190 per naira. Now that there will be excess dollars in the system, the naira will strengthen against the dollar in the parallel market (black market) Bad market for BDCs and Mallams 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by menxer: 10:56pm On Aug 05, 2015 |
atlwireles: the BIG importers can go swim with all the forms A - Z, ![]() 5 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by Femistico(m): 10:57pm On Aug 05, 2015 |
I blive its gonna be temporary |
Re: CBN Bans Deposits Into Domiciliary Account by erico2k2(m): 10:59pm On Aug 05, 2015 |
menxer:this has little or nothing to do with imports rather it deals with foriegn currency in this case Dollar,there is nothing stopping me from going abroad with dollar acquired from any source to import goods. these are put in place if you want to buy dollar from so not the black mkt.I think that's what is going on here, don't you think so?? |
Re: CBN Bans Deposits Into Domiciliary Account by arsenal1(m): 10:59pm On Aug 05, 2015 |
mavinc4u:It's 197 |
Re: CBN Bans Deposits Into Domiciliary Account by atlwireles: 10:59pm On Aug 05, 2015 |
menxer: You know what's funny, this will not hurt them, the N10-N15M annual importer will take this on the back. He is the loser here. |
Re: CBN Bans Deposits Into Domiciliary Account by Boss13: 10:59pm On Aug 05, 2015 |
NgeneUkwenu: Actually if you read the directive you will observed that it was initiated by banks and not the CBN. The CBN only welcomed it since banks, on their own, stop receiving foreign currency deposits. 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by philips70(m): 11:00pm On Aug 05, 2015 |
emorse: Have they also stopped your naira card from buying stuffs online? All the payment channels has been stopped? 2 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by luthorcorp: 11:02pm On Aug 05, 2015 |
baba go slow in action... |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 11:02pm On Aug 05, 2015 |
ERODEDEAST: You're shameless. You can't even write a clean paragraph yet you call someone else a 'blocked head' (sic). Pathetic. |
Re: CBN Bans Deposits Into Domiciliary Account by DarryOsh(m): 11:04pm On Aug 05, 2015 |
Joe50: LOL. No, it won't affect your order. And you can even place more orders in future. It won't affect them. Shipping to Nigeria using free shipping option usually takes between 3 weeks and 2 months or so. I'm sure you saw that on the site before placing your order. 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 11:05pm On Aug 05, 2015 |
Boss13: Banks initiated this move not CBN, that means Emefiele is a dullard; he should be sacked immediately. 2 Likes |
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