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Nairaland Forum / Nairaland / General / Business / CBN’s dollar restrictions killing our businesses, Nigerians cry out (27543 Views)
BREAKING! CBN Lifts Dollar Restrictions – Imminent Naira Windfall For Oil Coys / Save Us; Flour Companies Are Killing Our Businesses, Bakers Beg FG / Bdcs Operators Reject Cbn’s Dollar Purchase Policy (2) (3) (4)
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Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by Booktree: 9:34pm On Sep 23, 2020 |
blaise26abj: Did you deposit the money yourself or was it inflow? |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by homebase(m): 9:38pm On Sep 23, 2020 |
Hello, i was in one of the GTB branches last week to withdraw from my DOM account only to be told i can't. I was further informed that the only option i have is to transfer to another DOM acct. This money was sent to me from abroad ( inflow ) to collect, change to naira and send to a sister ( i know she is even doubting all my explanations about this new CBN restriction) Please did you or someone deposit the money in your DOM acct here in Nigeria or have it sent to you from abroad ( inflow )? blaise26abj: 1 Like |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by bobokunlexzy: 9:38pm On Sep 23, 2020 |
brunofarad: Why not. Barter card� 1 Like |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by Olarewaju89: 9:42pm On Sep 23, 2020 |
Restrictions on international transactions have been something that really give me concern for over 2 months now. I just lost hope in this present administration. Dollar is 487, i lost a lot of money (192,000) due to this dollar exchange rate. ![]() I just need help right now. God, I believe you can do what nobody can do. |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by SehgateTeam(m): 9:52pm On Sep 23, 2020 |
Sincerely, all this back and forth policy will bring more hardship and pains to already struggling citizens How can you instruct a business owners what to do with their money? How can you tell someone he/ she must sell dollar to bank and go with naira by force. Sadly, this policy will not only affect business owners or someone doing online business and getting paid in Dollar but will affect every aspect of the economy. Quickly let me break it down; Recently buying price of raw sesame seeds in China was 1100usd per ton. This price include buying, Cleaning, logistics, shipping, and import duties to China mainland ports. Meanwhile In Nigeria, the buying cost Is 430,000 per ton at pick up. This price exclude cleaning, Logistics, shipping, and miscelleous. With crazy logistics cost, high cost of freight, and miscellaneous. How do you expect exporter to sell at CBN rate of 380naira to Dollar and make profit. Now most foreign buyers shift their focus to other countries with stable foreign exchange. Ethiopia, Ghana, Benin will quote best price for agricultural produce anytime ,anyday compare to Nigeria which is facing a lot of policy challenges. Hardly to see what the policy is doing to help the economy. Only in Nigeria citizens were forced to provide everything for themselves. -No pipe borne water, you have to dig borehole yourself -No electricity, you have to depend on Generator - No security, street must have vigilantes, and each houses with personal Aboki as gateman. - If you order anything online it will take 365days before you get it due to slow and bad Nipost structure. Recently, primary school pupils where also ask to come with nose mask and sanitizers, then i asked 500naira worth of sanitizer and nose mask is not too much for this children. I pray we can get things right someday. So SAD...... 10 Likes |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by Ventura1: 9:53pm On Sep 23, 2020 |
AdSense should allow us add payoneer to receive payment, na dem go tire. At least, they can't deduct from my DOM account without my consent. 2 Likes |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by blaise26abj(m): 9:57pm On Sep 23, 2020 |
Booktree: I deposited it some months ago and was able to withdraw almost everything |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by blackmantis: 10:05pm On Sep 23, 2020 |
Dollar will hit N500 next week at the BDC's. |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by LikeAking: 10:24pm On Sep 23, 2020 |
proclinician: Dem go soon block that one. 2 Likes |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by LikeAking: 10:26pm On Sep 23, 2020 |
SearchFirst: Sanusi was a wack cBN gov.. Nigeria is cursed with bad leaders. |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by homebase(m): 10:33pm On Sep 23, 2020 |
Oh i see. It seems it is only inflow the policy is affecting. So the question arise. Do these guys at CBN know what they are doing at all? I ask because one of the ways Nigeria get dollars into her foreign reserves is via Nigerians abroad sending remittance home and now you are discouraging it while the country is seriously shopping for more dollars. blaise26abj: 4 Likes |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by blaise26abj(m): 10:40pm On Sep 23, 2020 |
homebase: Was quite surprised while reading this thread . Guess it must be inflow . There is no policy Drive that someone somewhere isn’t benefitting in this country . Dig deep and you will find them . But again True journalism is dead in Nigeria . 3 Likes |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by Newboss(m): 10:41pm On Sep 23, 2020 |
homebase: Very soon, people will start sending money into the country through cryptocurrencies only. 3 Likes |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by Flytime: 10:51pm On Sep 23, 2020 |
LaEvilIMiss:naso sanwo olu go gift judges 51 cars and 8 houses in lekki wasting millions 2 Likes |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by showafrica(m): 11:00pm On Sep 23, 2020 |
Amazinggirl95: Lol, nothing concerns forex... Btc and other crypto dey to exchange any amount you want. Crypto and forex business is one business the govt can hardly control. 1 Like 1 Share |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by liquidmetall: 11:29pm On Sep 23, 2020 |
valentineuwakwe: Can you send it to china i will pay you in naira |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by conyema12(m): 11:35pm On Sep 23, 2020 |
my 1500USD is now stuck in GTB ... tried to transfer today but i couldnt. Pls is there a way to transfer to my dollar mastercard and use it to purchase BTC online.... |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by emmadeking(m): 12:06am On Sep 24, 2020 |
Sysdatek: Please, help me with a list of virtual card services that you're using. This $100 is frustrating. What can you purchase with $100 in international market? |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by asanwafo: 12:14am On Sep 24, 2020 |
rangerover:Leave the fraudsters. Every one is now a forex trader |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by Nobody: 12:16am On Sep 24, 2020 |
Dollar hoarders ntoor 1 Like |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by valentineuwakwe(m): 1:01am On Sep 24, 2020 |
blaise26abj: The one at GRA refused to pay us saying its cbn new policy |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by valentineuwakwe(m): 1:03am On Sep 24, 2020 |
Wasky101: wetin be why I dey lie? it's my hard earn money so why will I say false things...I was at the bank n we were many self at GRA branch of GTB in Portharocurt and they told us this new directives from the cbn. ..well n.a. you sabi sha |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by bemagnify: 3:34am On Sep 24, 2020 |
Sysdatek: I sent you a Pm bro. I need to ask you a question. |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by Kreptic: 3:41am On Sep 24, 2020 |
NNU0000:but u de beg person for 10k on the other thread 5 Likes |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by Nobody: 5:32am On Sep 24, 2020 |
I think it’s only GTB that has implemented this nonsense policy. Other banks have not yet done so and hopefully will not ! |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by Revolva(m): 8:27am On Sep 24, 2020 |
valentineuwakwe: The way the thing de annoy me ehnn last two week I wanted to withdraw my cash Now someone can't use his dormicilary acc to recieve money because it's now a waste of time because you can't withdraw it if the inflow of the cash is paid from.some where Rather if you deposit dollar into the dorm acc is only when you can withdraw So sad I de hear say Dem wan bann cryptocurrency |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by Revolva(m): 8:33am On Sep 24, 2020 |
Ventura1: Bro even if they add payonner you will still transfer from payoneer to ur savings bank at 383 / naira Even if u transfer to ur dorm acc it's a waste u won't be able to withdraw it in dollars as long as the inflow to the form acc is via transfer not you depositing it by your self Better put ur savings acc for ur AdSense and forget dorm acc for now |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by macho44(m): 9:11am On Sep 24, 2020 |
![]() ![]() ![]() ![]() ![]() ![]() https://www.youtube.com/watch?v=vb87XSmmW1E |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by homebase(m): 9:16am On Sep 24, 2020 |
I am guessing so because all of us that have been complaining here are mentioning GTBanks. It seems to me something is wrong with that bank internally. I need to do something fast about that bank so that it won't end in premium tears. Novartis: |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by COMPAQ(m): 9:49am On Sep 24, 2020 |
addictiv: Bros, even me I'm tired. This is a line I thought we would never cross. If true, Emefiele had no clue what he's doing. That's why I've always said bankers would never be CBN governor. That position needs sound economists. |
Re: CBN’s dollar restrictions killing our businesses, Nigerians cry out by homebase(m): 10:00am On Sep 24, 2020 |
Lol. The business owners who can't access their money in DOM account will result to black market. 700/$1 loading COMPAQ: |
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