Stats: 3,188,344 members, 7,934,305 topics. Date: Wednesday, 28 August 2024 at 11:20 PM |
Nairaland Forum / Nairaland / General / Business / CBN Okays Withdrawals Of Dollars From Domiciliary Accounts (37492 Views)
BDCs Back CBN’s Directive Stopping Use Of Domiciliary Accounts As Collateral / CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals / FOREX: No Plan To Convert Domiciliary Accounts Into Naira - CBN (2) (3) (4)
(1) (2) (3) (4) (5) (6) (Reply) (Go Down)
CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by ikorodureporta: 11:47am On Dec 01, 2020 |
Frantic CBN allows diaspora remittances to be withdrawn in dollars and sold anywhere including black market Source: https://nairametrics.com/2020/11/30/cbn-allows-diaspora-remittances-to-be-withdrawn-in-dollars/ 9 Likes 2 Shares
|
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by ikorodureporta: 11:51am On Dec 01, 2020 |
Dollar go begin scarce for bank... 30 Likes 2 Shares |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Nobody: 11:57am On Dec 01, 2020 |
Nah wah o... Emefiele is one of the most terrible CBN governor 180 Likes 5 Shares |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by lowkeybahdguy(m): 1:26pm On Dec 01, 2020 |
Time to watch and see how this one plays out. This move appears to have been borne out of desperation by CBN. The same cbn that flayed receiving foreign currency deposits in February this year, has now made a full u-turn. https://nairametrics.com/2020/02/14/cbn-condemns-receiving-foreign-currency-in-transfers/ Interesting times ahead.. 12 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by ILoveDemMANNA: 2:16pm On Dec 01, 2020 |
When you have more inflows into the country at dollar value it will help bring down the BDC rates, it will also help solidify or unify the rates in the market so we don’t have multiple currency rates. This new directive means when Nigerians living in diaspora transfer money to loved ones in the country, they can in turn withdraw the money in dollar cash and sell wherever they want to. Now, Nigerians who recieve foreign transfers such as Western Union or Moneygram can withdraw it in dollars and then sell at the black market rate or wherever they want to. 20 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Prodigee: 2:16pm On Dec 01, 2020 |
E remain small make dem buy naija 3 Likes 1 Share |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Nobody: 2:16pm On Dec 01, 2020 |
G |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by ILoveDemMANNA: 2:17pm On Dec 01, 2020 |
BabaOwen:What do kids know ![]() If we have more funds come in as remittances, our foreign reserves go up, and when that happens, the confidence in the Nigerian economy will go up 11 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by rocknation62(m): 2:17pm On Dec 01, 2020 |
E be things |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Nobody: 2:17pm On Dec 01, 2020 |
Make we hope say he go get positive effects on our economy |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by SenecaTheYonger: 2:17pm On Dec 01, 2020 |
TIme for Naira to free fall to 1000 ![]() If you had 360k in savings, which was $1000, now your money is only worth $700. And it keeps falling until your money is worth less than $500. Just in case you don’t understand how this is affecting you 16 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by dann190: 2:17pm On Dec 01, 2020 |
Godwin emefiele, chai, God help us oh, these people are as clueless as the word itself... 5 Likes 1 Share |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Johnrake69: 2:18pm On Dec 01, 2020 |
Well, let's see how the bank complies with this. This should have been done since. Some people in America now take advantage of this in pushing the rate so high. They buy up dollars from people that want to remit funds back to Nigeria. And push the rate up for people trying to send money to Asia. Let the banks remove their hands from foreign exchange and focus on providing core banking services. They have created more problems by their profiteering drive on FX 41 Likes 4 Shares |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Tobinrobin(m): 2:18pm On Dec 01, 2020 |
Free fall of Naira. Brace up 4 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by ILoveDemMANNA: 2:18pm On Dec 01, 2020 |
MrBabyOmoniyi:Good boy at last. Nice post. Yes, it will ![]() |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by ATEAMS: 2:18pm On Dec 01, 2020 |
All things pass and pain is temporary. It comes to teach a lesson and when the lesson is understood it disappears into the night. 3 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by berrystunn(m): 2:18pm On Dec 01, 2020 |
APC trying all there best to make sure dollar is one to one before 2023. 1 Like 1 Share |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by emmabest2000(m): 2:18pm On Dec 01, 2020 |
At long last 2 Likes 2 Shares
|
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by DropsMic(m): 2:18pm On Dec 01, 2020 |
Okay |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Nobody: 2:18pm On Dec 01, 2020 |
Hope it would be at the official rate and no limits too |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by crafteeworld: 2:19pm On Dec 01, 2020 |
g |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by softset: 2:19pm On Dec 01, 2020 |
So they just got their senses back 1 Like |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Lagosianswag: 2:19pm On Dec 01, 2020 |
Dollar, Pounds Sterling FX Is Currently The Love Of My Life, It literally Pays To Be Rich ![]() ![]() ![]() #MoB 1 Like |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by sammirano: 2:20pm On Dec 01, 2020 |
The CBN is banking on the fact that the forces of demand and supply will play a significant role in controlling the outrageous rate at which the dollar is rising. Well, time will tell. Nothing is certain in economy. 1 Like |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by salbis(m): 2:20pm On Dec 01, 2020 |
Clutching at straws by our darling government. |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by ILoveDemMANNA: 2:20pm On Dec 01, 2020 |
SenecaTheYonger:Nairalanders, listen to this bvllshit at your own peril. Na so dem go dey type lies and rubbish online with such colossal confidence. Tueh! 13 Likes 1 Share |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by AFvckingAlpha(m): 2:21pm On Dec 01, 2020 |
The fvck Niggarr!! 1 Like 1 Share |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Equal2DeTask(m): 2:21pm On Dec 01, 2020 |
![]() If this effect will not improve our economy, then I don't see how much important it will be because you will still need to exchange the USD to Naira if you want to use it here... |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Olarewaju89: 2:21pm On Dec 01, 2020 |
ILoveDemMANNA: Yes oh. I think the governo is try his best if not because of covid-19 that destroyed the economy world wide. Let just be patient 5 Likes 2 Shares |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by NwaAmaikpe: 2:21pm On Dec 01, 2020 |
![]() The Central Bank Of Nigeria was designed to be independent of the Executive. This independence of thoughts, strategies and policies was promoted by Clement Isong who avoided running up unsupportable debts and further heightened by Lamido Sanusi who questioned the fuel subsidy funding, challenged the budgetary spending of 25% of all government revenue by the legislative and also rejected the International Monetary Fund's insistence that the Naira be devalued. Both CBN governors had disagreements on policies with the Heads of State they served under. Isong with Gowon and Sanusi with Jonathan. But what we have today is a yessir dummy; one who goes to Economic Summit Forums only to receive orders and ask where to sign from people who don't know their North pole from their South pole in Finance, Macroeconomics or Business. CBN's recent unstable policies on FX usage and allocation are obviously rushed and ill-thought out...more like permutations from illiterate financial pundits whose major aims are to frustrate perceived political enemies and to perpetually keep a certain group at financial business disadvantage. Just when you are just about to get used to one nonsense rule they reverse it and later reimpose it. What has mandating that offshore and FX transfers are to be made from your Telegraphic Transfer Balance (TTB) and not cash deposits got to do with the exchange rate or availability of FX? To me it is simply to ensure some people's money rots with them. That is vendetta and not strategic thinking. Godwin Emefiele is less than a rubber stamp. He is a stamp carved out of decayed cocoyam. If he had any decency in him, he would have resigned 3years ago. But keeping his job by licking ass is more important than leaving a name in Sterling. The economy is on a free fall. Interest rates on deposits are almost non-existent, stamp duty is charged on Savings accounts, accounts of perceived "enemies" of the government are flagged and frozen. Unsustainable loans are requested every now and then to sustain our outrageously exorbitant cost of governance. If not for the abundance of Ponzi Schemes masquerading as FX investors, Nigerians would have been eating stone now. I miss Charles Soludo. I miss Sanusi Lamido Sanusi. The CBN is just like the NLC; a total write-off. 99 Likes 12 Shares |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by ILoveDemMANNA: 2:22pm On Dec 01, 2020 |
ATEAMS:True talk! You have said it all.....Wise man. 1 Like |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Amaso99(m): 2:22pm On Dec 01, 2020 |
Trial and error CBN governor Nothing just they him head Just pay me my covid 19 loan make I add japa 6 Likes |
(1) (2) (3) (4) (5) (6) (Reply)
Top 5 Millionaires Who Made Their Money Online And How They Did It / Dilapidated Union Bank In Chibok Town / My Domain Flipping Experience... Revealed
Viewing this topic: 1 guest(s)
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 35 |