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Nairaland Forum / Nairaland / General / Business / CBN Okays Withdrawals Of Dollars From Domiciliary Accounts (37498 Views)
BDCs Back CBN’s Directive Stopping Use Of Domiciliary Accounts As Collateral / CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals / FOREX: No Plan To Convert Domiciliary Accounts Into Naira - CBN (2) (3) (4)
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Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Fibonacci88: 2:23pm On Dec 01, 2020 |
ILoveDemMANNA:Oga shut up. How does remittances to individual account boost foreign reserve. Do u even know what makes up foreign reserve. Export from crude oil is what makes up majorly foreign reserve for Nigeria. Try schooling urself a bit instead of jumping from thread to thread praising an incompetent presidency. 21 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by InvertedHammer: 2:23pm On Dec 01, 2020 |
/ Idiotas! This is what they should have done a long time ago. Let foreign remittances flood the market with US$ and that will drive down the price instead of hoarding dollars creating artificial scarcity. US dollars is weak now against a basket of currencies except shithole currency like naira. / 3 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by WiszyFraud: 2:23pm On Dec 01, 2020 |
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Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by grandlexuz(m): 2:23pm On Dec 01, 2020 |
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Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Fathai(m): 2:23pm On Dec 01, 2020 |
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Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Nobody: 2:23pm On Dec 01, 2020 |
ikorodureporta: Dollar don scarce for bank since, no be today 1 Like |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Nobody: 2:23pm On Dec 01, 2020 |
ILoveDemMANNA:What concerns foreign reserve with remittance being withdrawn in dollars. Is it not possible that the remittance can be hoarded 4 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by yusufu16: 2:24pm On Dec 01, 2020 |
Freelancing part 2 loading.... |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Brazzaville(m): 2:28pm On Dec 01, 2020 |
I don't understand.
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Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by teemy(m): 2:30pm On Dec 01, 2020 |
The effect of this has already started being felt. Dollar of yesterday of 500 is now 490. The huge supply of dollars in the black market will crash the rising dollar rate 3 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Nobody: 2:31pm On Dec 01, 2020 |
This is good... dollar would drop to $400 by friday. |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by playerinc(m): 2:33pm On Dec 01, 2020 |
Make we kukuma dey use Dollars abeg. 4 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by jumper524(m): 2:36pm On Dec 01, 2020 |
ILoveDemMANNA:kids may know nothing but you don't expect them to sit down and sing emefiele praises when the naira keeps loosing value on a daily. if the naira appreciates it either by 1 or 2 naira but If it falls its always 50% the innitial rate. the exchange rate as at today is making hardworking Nigerians appear lazy cos I can't imagine hustling a whole full day and going home with 5k yet that said 5k ain't up to $20. e dey pain when you try to buy goods online. me I know this move na just Gramma cos I know the naira would never appreciate at most it would stabilize at 460. emefiele needs to do more cos compared to other cbn governors in Nigeria, he should tag himself as worst.. 4 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by cliqtips: 2:38pm On Dec 01, 2020 |
This sounds like a business thing to me... Johnrake69: |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Nobody: 2:39pm On Dec 01, 2020 |
after causing dollar holders immeasurable loss over the past 4 months - imbecilic CBN Governor 4 Likes 2 Shares |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by cicero(m): 2:40pm On Dec 01, 2020 |
Is now the best time to sell your dollars? |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Ihatemumu: 2:42pm On Dec 01, 2020 |
SenecaTheYonger: you had time to explain to zombies? their mind is blocked until this evil gets to them . Yenefer take note |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Johnrake69: 2:44pm On Dec 01, 2020 |
cliqtips: Which is bad for the economy. They offer people #430 and sell #500. Why can't the banks offer same amount? Banks will offer them #366 and sell at almost at the black market rate 1 Like |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by ayojohn4real: 2:45pm On Dec 01, 2020 |
Please can someone teache me does it mean the dollar will go up more or come down, make I quickly sell the dollars wey my cousin give me oo |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Eriokanmi: 2:47pm On Dec 01, 2020 |
Prodigee:who tell you say dem neva buy naija? The discos were bought by them. Tinubu sef get one of the discos, abdulsalaam abubakar too...People wey no noting about electricity...and someone would be telling us to still be following them like mumu. Our mumu don do. 1 Like |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by electhnd(m): 2:47pm On Dec 01, 2020 |
SenecaTheYonger:. they didn't say they are going to pay us in dollars,. this message are mainly for Western Unionners |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by frowland(m): 2:48pm On Dec 01, 2020 |
Good move to be frank. We have enough reserves BUT stopping us from accessing remittances in USD turned doller into Gold that it is today. Watch as the value of the dollar will start depreciating. Western Union receivers was forced to take with Naira. Same for domiciliary account holders. Access to available USD was limited to importers and only through LC. This made the USD scarce (Artificial Scarcity), which resulted in high exchange rate as demand kept growing. Poor monetary policy from the onset. 5 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by TimeTraveler369: 2:49pm On Dec 01, 2020 |
The FG and CBN are experimenting with the Economy and the FX sector is where their perceived indicators are in order to measure their performance. A very silly approach to viewing any economy's performance index. A Central Bank is supposed to study the national economy and juxtapose with the global economy and design an economic template using permanent FX policies on imports, exports and local FX liquidity flow indices instead of running a country without an Economic Model hence the constant policy somersaults just to control fx rate in a false economy. Education is not enough if you want to choose a leader. A leader must be the best mind fractal within the spectrum, the best brain with specific knowledge of management and governance. I kicked against presenting Buhari for leadership not because I hate him but because the man does not enhance his knowledge of governance and worst of it all, he is religious zombie, and was carefully was handed Emefiele, who acts as a houseboy of the 'Presidency' and recommend policy strategies that now makes Nigeria an unpredictable business environment due to constant change in policies. Economic hacks look at economies and tailor their strategy towards profiteering, and you wake up the next day and a new policy makes nonsense of your permutation and you want to have more FDIs? I do not think Emefiele is running the central bank with known policy template. He is just an errand boy for the Economy CrackTeam in Aso Rock who view 'aboki fx' as a means to keeping naira and dollar rate stable. This is called Aboki Economy. Nigerians need to elect a nerd with brilliance on Macro and Micro Economics to come out of this mess, cos Elon Musk will make Nigeria broke of oil money in the next 20 yrs and you are done if you are on the direction opposite that of dynamics of the New World Order. It is over with Oil for now, but I know that Petrochemicals and Gas wil be much more useful, so Nigeria has a lifeline but needs excellent nerds to steer the country. Good luck! 11 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Systrom(m): 2:52pm On Dec 01, 2020 |
Abeg o!!!!! Make dollar continue to dey rise, so we wey get dollars go cash out big |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by PHIPEX(m): 2:53pm On Dec 01, 2020 |
Why now, they should continue to practice 1842 economic policies. Because you want to catch a thief, you closed your borders for over a year against legal business people transacting across international boarders, why wouldn't you struggle and fall into recession. 6 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by koning: 2:54pm On Dec 01, 2020 |
Nigerians take every news on face value. Have you ever attempted to collect dollar from any Nigerian bank as an individual?. Let's not be naive. The banks will forever tell you that Dollar is not available. After you don wait tire. You go collect Naira to solve your pressing problem. This policy is only good on paper. The reality is that banks will never 'have' the Dollar to pay out. Not even $100. 14 Likes 1 Share |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Ayo2004: 2:56pm On Dec 01, 2020 |
Abeg....make person explain in lay man terms for us science students ![]() 1 Like |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by TimeTraveler369: 2:56pm On Dec 01, 2020 |
Systrom: You must be residing in USA, otherwise how else do you get the dollars....oh okay, you are an exporter of products or solutions. You should be praying for your country's currency to improve in value except you are into some cyber activism that generates dollars. 1 Like |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by PHIPEX(m): 2:57pm On Dec 01, 2020 |
koning:It's not available because people moved their dollars to black market and Aboki kiosks. Where will the banks get it from? |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Nobody: 2:57pm On Dec 01, 2020 |
Finally the terrorists' patron want to make one dollar to one naira as promised. What a genus! 2 Likes |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Nobody: 2:58pm On Dec 01, 2020 |
It is a nice idea but lets see if it will work. Lets see if foreign remittance can help reduce the rate. I like the policy because if you hold significant dollars bills you can negotiate price with bdc |
Re: CBN Okays Withdrawals Of Dollars From Domiciliary Accounts by Nobody: 2:59pm On Dec 01, 2020 |
koning: This policy was brought today. Let it work first before complaining |
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