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Nairaland Forum / Nairaland / General / Business / $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn (27035 Views)
Cheques Can Now Be Paid Into Savings Accounts – CBN / No Deposit For New Accounts: CBN Gives Approval / 20bn Idle In Nigerians’ Domiciliary Accounts –CBN (2) (3) (4)
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$20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by haykay2005: 8:50am On Mar 04, 2016 |
Central Bank Governor Mr. Godwin Emefiele gave a shocking disclosure on Thursday about the massive dollar treasure in Nigerian banks, as the country goes cap in hand begging for foreign loan. According to him, over $20 billion is sitting pretty in domiciliary accounts of private individuals at a time when the country is facing foreign exchange crisis and is chasing foreign loans, when its citizens could offer the loan. The figure of idle dollars is $7.8 billion less than the entire national reserve of $27.8 billion, managed by the Central Bank. Emefiele’s disclosure, via proxy, was made at a session of the joint committee on appropriation of the National Assembly. Represented by the Deputy Governor in charge of Financial System Surveillance, Mr. Joseph Nnanna, Emefiele said keeping the huge volume of dollars idle had compounded the forex crisis confronting the country. “As I’m talking to you, $20billion is in various domiciliary accounts of individuals. Naira is our currency, why are they keeping the foreign currency? From my experience in the international finance, I have never seen a country where its nationals speculate on its currency,” he said. http://thenewsnigeria.com.ng/2016/03/shocking-20-billion-idle-in-banks-as-govt-begs-for-5b-external-loan/ 6 Likes |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by scribble: 9:00am On Mar 04, 2016 |
CHAI ![]() 8 Likes 3 Shares |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by Abjpikin: 9:16am On Mar 04, 2016 |
May God see us thru... 1 Like 1 Share |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by haykay2005: 9:30am On Mar 04, 2016 |
Power lies in the hands of few Nigerians. Nawa ooo 16 Likes 2 Shares |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by Remii(m): 9:33am On Mar 04, 2016 |
warning sign for dollar hoarders, argentina beckons, govt may convert all to naira at prevailing rate, lol 27 Likes 4 Shares |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by haykay2005: 9:44am On Mar 04, 2016 |
Remii:I think ifeanyi uba has a point 46 Likes |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by MadCow1: 10:13am On Mar 04, 2016 |
Hahahahahahaaaa... President Buhari don catch dem. ![]() ![]() 15 Likes 1 Share |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by kachnov(m): 10:13am On Mar 04, 2016 |
Okay...set up policies to counter such actions that's why you're the CBN governor. 15 Likes 4 Shares |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by redcliff: 10:14am On Mar 04, 2016 |
Whats your business if there is dollars in other peoples accounts? If they wish to keep it i dont see why this should be cbns business. They would not look into their own in house problems they are looking at other folks. Last i checked i did not see where it was a crime to maintain national accounts with foregin currencies. 53 Likes |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by Nobody: 10:14am On Mar 04, 2016 |
se.un what's the meaning of this and how come no declaration for Christians? 34 Likes 3 Shares
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Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by tyson99(m): 10:14am On Mar 04, 2016 |
some sets of people ruined this country |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by HungerBAD: 10:15am On Mar 04, 2016 |
What? what is the definition of idle? Is there not a clause in our Banking Laws that stipulates that Monies left after a certain time idly(hoarding) in the Banks, should be reported to the C.B.N who in turn have the powers to convert it into Federal Government Money? Cant the C.B.N name this owners of this $20 Billion? who are these Nigerians sitting on top of this money? The Government should identify, arrest and prosecute those Nigerians who are guilty for the slide in the value of the naira by embarking on dollar speculation. This Government is working. 8 Likes |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by trailblaiza(m): 10:15am On Mar 04, 2016 |
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Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by Dottore: 10:15am On Mar 04, 2016 |
Na wao 1 Like |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by Victorchuks4(m): 10:15am On Mar 04, 2016 |
Na so banks dey chop people money 2 Likes |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by Drinkwater(m): 10:16am On Mar 04, 2016 |
No hating... Life goals
I want that kind of money in my account one day... 2 Likes |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by tuoyoojo(m): 10:16am On Mar 04, 2016 |
ok na it is just glaring that for every hardship being experienced by Nigerians in general, a select few are feeding fat from it. that is why our problem would not be solved any time soon but instead of wailing, since the CBN gov knows the problem, the solution is almost at hand 2 Likes |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by Localamos(m): 10:16am On Mar 04, 2016 |
haykay2005: Bitter truth 1 Like 1 Share |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by erico2k2(m): 10:16am On Mar 04, 2016 |
haykay2005:SO.is it your money? ? 21 Likes |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by Miracle4Sure: 10:17am On Mar 04, 2016 |
Chaii see money..........we need a strong economic policy in this country |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by Nobody: 10:17am On Mar 04, 2016 |
Emefiele I expect you to do the needful 1 Like 1 Share |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by SPG4U(m): 10:17am On Mar 04, 2016 |
one day this nation will borrow from me 1 Like |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by erico2k2(m): 10:18am On Mar 04, 2016 |
HungerBAD:Relax where yoy not alive when the banks begged people to put forex back I to the banks? 1 Like |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by martineinstein(m): 10:18am On Mar 04, 2016 |
Na wao. |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by demarc001: 10:18am On Mar 04, 2016 |
Oga transfer one to my account |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by danysi(m): 10:18am On Mar 04, 2016 |
The govt should ask them the source of this kind money chaii theres God woo |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by donephi(m): 10:18am On Mar 04, 2016 |
10% Nigerians controlling the wealth of 90%. |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by highskies(m): 10:18am On Mar 04, 2016 |
na wa o |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by sinistermind(m): 10:19am On Mar 04, 2016 |
We are our own problems. Even some people working in Nigeria are been paid in dollars, school fees of some schools are been calculated in dollars. The way we give reference to dollars in this country is quite alarming. I just wonder why the domiciliary acct was created. Does oda countries operate such account? 7 Likes |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by Harwoyeez(m): 10:19am On Mar 04, 2016 |
Oga oo |
Re: $20billion Dollars Idle In Few Individual's Domiciliary Accounts-cbn by MrImole: 10:20am On Mar 04, 2016 |
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