How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? - Travel (4) - Nairaland
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| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by JayJustus(m): 12:23pm On Dec 21, 2015 |
YerYer: exactly...use western union and moneygram...and the exchange rate they use is real time live exchange rate not some bogus mallam street rate...I've been using western union and moneygram and no problem for the past one year...let them keep dulling with atm bullshyte...but note that the card has only been suspended from atm withdrawals but pos and online transactions are still available... 1 Like |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by Nobody: 12:27pm On Dec 21, 2015 |
santos247: |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by JayJustus(m): 12:27pm On Dec 21, 2015 |
Matinho: lol...which cave have you been living since?? my dad has been using WU and moneygram to send to me for the past year...it actually started september 2015 with only moneygram but WU has joined now... https://firstbanknigeria.com/products/services/money-transfers/western-union-money-transfer/ |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by onome2013: 12:30pm On Dec 21, 2015 |
CAN governor to answer this question . I think he is confuse with his duties |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by nuru(m): 12:32pm On Dec 21, 2015 |
For paying school fees, just obtain the official invoice from the school, fill from A at the bank and support it with documents such as the invoice, the admission letter and international passport. Issue an instruction to the bank to debit your Naira account and it will be done. 5 Likes |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by chinedu1nig(m): 12:33pm On Dec 21, 2015 |
repogirl: since when did you start importing machine huh? if you need clarification on the said subject please, humbly ask before spewing trash and making assertions based on prejudice. use the internet wisely my dear. read read and read oooo. readddddd. Nigerians read |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by JayJustus(m): 12:33pm On Dec 21, 2015 |
PROVACATEUR: you can pay tuition fees with FORM A...ask your bank...my dad has done it and still did it last month 1 Like |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by Excellent7(m): 12:34pm On Dec 21, 2015 |
bayulll01: Sir, it is very obvious that you are either too dense to understand these matters, simply not well exposed at least to international "ish", simply deluded or uninformed. Let me answer your questions, perhaps you can now be educated a little on these matters. 1. Can you bring america master card or visa and use it here in nigeria. Yes Sir, you can bring your American, European etc. Mastercard, Visacard etc to Nigeria and use it here. In fact it should be possible for a tourist to spend weeks in other countries without touching the local currency if all service providers are card enabled. When you are doing that your local currency transactions are converted to dollars and the dollar equivalent of your local currency expenditure removed from your Dollar denominated Mastercard. Doing this is equivalent to "importing " Dollars to Nigeria or the country you are making the transactions in. This is the reason informed folks are against the "demarketing" of Nigeria that can make foreigners not come here to spend there hard currency here. 2. Can you open a bank and deposit Naira in america or other european nations ? No Sir, In principle no, because our Naira is not an "international" currency. For Dollar and Euro , you can have accounts in such denominations in many countries. For the Chinese Yuan I am not sure. This is what Naira can become one day, if we are able to get Nigeria and her economy to grow up to its full potentials. I am aware that it I can have a Dollar denominated account in European countries if I do not want to convert to Euro. For Dollar and Euro 3. Can you use america bank master card and shop here in Nigeria, if you can answer those questions first I will help you reset your brain. Sir this question has been answered in the answers to question 1 above. Sir, now that answers have been provided to your questions, you might wish to proceed and "educate" us with your now exposed and magnificent ignorance. 18 Likes 2 Shares |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by ibietela2(m): 12:35pm On Dec 21, 2015 |
YerYer: PayPal is available in SA |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by signature2012(m): 12:37pm On Dec 21, 2015 |
kings09: Was this policy made in jonathan administration? Why una dey fear to say the truth? If bubu remove him,who cares?Has he not been removing,what result have we gain from it? 4 Likes |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by delors(m): 12:37pm On Dec 21, 2015 |
Only used that naira Mastercard once in 2011...it's as good as useless. |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by Firefire(m): 12:37pm On Dec 21, 2015 |
repogirl: Black Market 280N/$ to fund a legitimate transaction ? Don't you feel this it outrageous ? I am not sure the no $ deposit order has been lifted. 5 Likes |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by chinedu1nig(m): 12:38pm On Dec 21, 2015 |
LordAdam: Oga are you a machine manufacturer or importer? whats the problem with people for heaven sake. please, ban was placed on finished products like what we can produce in Nigeria not what we cannot produce. 2 Likes |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by urchmanx(m): 12:38pm On Dec 21, 2015 |
JayJustus:What of personal upkeep? I guess that is were the question is. |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by 190theclown: 12:38pm On Dec 21, 2015 |
repogirl: tHAT NA 2 Much work nau  |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by neocortex: 12:39pm On Dec 21, 2015 |
chinedu1nig: You are the one who lacks comprehension skills, everything doesn't have to be spelt out for you. I expected only those who understands the topic to make comment. Since there is no ban on importation, how do you pay for your imported machines or goods ? |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by JayJustus(m): 12:39pm On Dec 21, 2015 |
urchmanx: western union and moneygram bruhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by urchmanx(m): 12:44pm On Dec 21, 2015 |
JayJustus:Sorry bro I have never used western union in Nigeria. Let me ask you one question. Do you source your own dollar or the bank debits your account. And since the op is not in Nigeria. Can he access his account online and make the transfer or is he going to risk his funds to a third party before such transaction is made. Please educate me. I want to understand the situation here. 1 Like |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by AreaFada2: 12:46pm On Dec 21, 2015 |
santos247: Nna, na only you waka come? Govt never fit care about those in 9ja proper, talk less give a rat a*s about those offshore.   I have decide to close most of my accounts. No need. You cannot pay hard currency into account in 9ja. Soon you won't be able to withdraw, matter of time. I saw £ sterling selling for 365 Naira somewhere today. Why save money in 9ja if you're in diaspora only to lose value? @OP, my layman's idea is get people travelling to SA to bring hard currency from 9ja. Transfer money online into their account, they bring it to you in dollars, etc. |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by LordAdam: 12:47pm On Dec 21, 2015 |
chinedu1nig: We are not talking about ban. We are talking about buying. Right now, buying is very difficult because dollar-denominated transactions are highly restricted. Do you follow?? -Lord |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by IFELEKE(m): 12:48pm On Dec 21, 2015 |
Firefire:Omo Iya, The CBN said it's trying to save the naira from further bashings at the international market hence the restriction. Deposit banks(commercial banks) are struggling to make payment for services rendered by the numerous international merchants at a rate not too favourable to them. The sharp disparity in the official and parallel rate of dollar is also not helping matters. Our banks are heavily indebted to mastercard, visa et al and the CBN does not have any reasonable clue as to bail out so the total restriction is their way of saying no more accumulation of debts! May God help Nigeria in the year to come... 3 Likes 1 Share |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by Nicepoker(m): 12:49pm On Dec 21, 2015 |
santos247:enjoy the change in silence. |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by BobUg28(m): 12:51pm On Dec 21, 2015 |
In my opinion, I 'd say that it's for our own good and part of measure to reduce the rate corruption is eating deep into this country. With time, we will all get use to it... There is no need complaining. For the fact they deemed it proper to embark on such protocol means they must also make provision for Nigerians students and businessmen and women up there. It's a nice and unprecedented development coming from APC's government. 4 Likes |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by Excellent7(m): 12:53pm On Dec 21, 2015 |
drnoel: How do you fund your Dom account when banks are not accepting cash deposits only wire transfers to Dom account ? You are not allowed to travel with more than 5,000 USD I think. Let me make a hypothetical but "real scenario" so you can appreciate the quagmire. At this moment, it does appear that if I have 10,000 USD cash, and want to travel, my bank wont accept the deposit into my Dom account, and It is apparently illegal to travel with all. So the viable option is to travel with less than or up to 5,000 USD. Since Naira denominated cards now appear out of question, I only travel if the 5,000 USD can fund the expenditures of the business trip, if not I stay back, airlines do not get to sell tickets, income from the airports decline, I lay of some workers and start trying to survive on my capital. Expect to see the full effects of these policies by beginning of Q2 2016, by then the guys at the top may start trying to press buttons to roll out reactionary measures .... but it will be "good" steps being taken 4-6 months behind. I know these are difficult times, but the management of things leave much to be desired to me. Somebody is not running the full scenario and appreciating the interconnected cause and effect relationship of things. As things are, these policies are annihilating the SMEs. 4 Likes 1 Share |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by repogirl(f): 12:55pm On Dec 21, 2015 |
Firefire:you are not depositing cash... The agent will transfer from his dollar account to yours. You understand? |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by BobUg28(m): 12:55pm On Dec 21, 2015 |
Skywalker5: Is it not better that way when compared to our bloated politicians carry our money over there? It's true that its gonna affect greater number of Nigerian populace, but it's better that way than leaving it for them all. 2 Likes |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by repogirl(f): 12:56pm On Dec 21, 2015 |
190theclown:what other choice do you have if you need the money seriously? |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by AkinPikin: 1:00pm On Dec 21, 2015 |
signature2012: Let me try to educate you small my brother. 1. For every $10 a Nigerian spends, $9 comes from crude oil sales by the Federal Government or the national reserves. 2. OBJ left over $70 Billion for Yar'Adua when he left office in 2007. Average oil prices under OBJ was about $65/barrel. 3. Yar'Adua left $65 for GEJ when he died in 2010. Average oil prices under Yar'Adua was about $45/barrel. Remember oil fell to as low as $38/barrel in 2009? Most of the $5 to 7Billion that Yar'Adua spent was to defend the Naira during the global crisis of 2009, save the banks that fell into trouble in 2009, and fund the amnesty programme for the Niger Delta militants. Notice again the difference between what OBJ and Ya'Adua made from oil. 4. GEJ on the other hand, left $29Billion for PMB. Average oil prices under GEJ was $92/barrel. There were months when oil sold for as high as $130/barrel. For 3.5 years (2011 to June 2014), GEJ sold oil for over $100/barrel. For your information, GEJ presided over the richest years in Nigeria's history, yet he ate what we were to have saved and even ate what was handed over to him. I have told every one who had ears that whoever takes-over in June 2015 was going to see hell - whether it was GEJ or PMB. I am at least glad that we have removed the bastard that brought our dear country to this sorry state. PMB can only work with what he has been handed with. That is why he is chasing corrupt people, looking for money to fund the budget and meet his electoral promises. Government is a continuum. The problem we have now was handed over to us by GEJ and his band of rogues. You think we would be where we are today if his government had saved $100Billion in reserves? I am no ethnic or religious jingoist. I voted for GEJ in 2011. I deeply regret doing so now. I have friends that have lost jobs because of the man's stupidity since late last year. As they say, opinions are free, but facts are sacred. 17 Likes 2 Shares |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by chinedu1nig(m): 1:01pm On Dec 21, 2015 |
neocortex: olodo ni e. CBN only placed ban on importation of goods that can be sourced locally to encourage local manufacturers.. and if you need dollar to import your machine as you slated, go through CBN since they ordinarily access the dollar from Forex market. there are a lot of things Nigeria can't cope with at the moment.. and note that this are measures to control the market and encourage legitimacy. 1 Like |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by BobUg28(m): 1:02pm On Dec 21, 2015 |
AbuMaryam1: God bless you for making this point. There are only making this appear...since its coming from APC led administration, that it's not a welcome development. |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by signature2012(m): 1:06pm On Dec 21, 2015 |
AkinPikin: This your epistle did not even address the topic been discussed. Hope you know thousands have lost their job since bubu came into power. Hope by 2019,GEJ won't be blame for APC woes. 6 Likes 2 Shares |
| Re: How Can Nigerians In Diaspora Access Their Funds From 2016 With The CBN Policy? by drnoel: 1:07pm On Dec 21, 2015 |
Excellent7: To answer ur hypothetical question. You convert ur dollars back to naira and pay it back into ur account. Then u ask your bank to provide with with a dollar account which they would and then u convert ut money back to dollar and have a dollar visa card to back it up. Thhen u are back in the game. U will lose money along the line from all the conversion but ur case is solved. About how the policy will affect the masses in 2016. We will just wait and see wont we? |
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