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Nairaland Forum / Nairaland / General / Business / Central Bank Of Nigeria New Directive On Money Transferred To Nigeria (65134 Views)
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Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by Uniquisite: 4:59pm On Dec 19, 2020 |
bigtt76: CBN ARE BS |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by juniorstar(m): 5:00pm On Dec 19, 2020 |
time for dollar hoarding, when the tin tire dem time to cash out. las las within 3 to 6 months. elemi loma last. 1 Like |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by codedguy1(m): 5:00pm On Dec 19, 2020 |
Academicwizman: My thoughts exactly. Instead of stimulating the economy into productivity so that we can earn $ from export while diaspora remittances be an added advantage, these ones want to rely on diaspora remittances as our supposed source of foreign exchange. How this will pan out I really don't know because Naija is a strange place. 5 Likes |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by FuckThaMod: 5:01pm On Dec 19, 2020 |
drey076:Wonderful Thanks |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by Yusuf7777: 5:01pm On Dec 19, 2020 |
The directive is to your advantage. It means you can only receive the USD in cash or request a transfer to your domiciliary account if u have one. The reason is to stop the company from paying you in Naira at some unfavourable rate. So the beneficiary should should go the branch and get USD cash to request transfer to his dom account. 4 Likes 2 Shares |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by bigtt76(f): 5:01pm On Dec 19, 2020 |
Same as the normal account opening process except you will need to make a deposit to activate it. Uniquisite: |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by Ghostmode2two(m): 5:02pm On Dec 19, 2020 |
Observing the dollars effect on the Naira and economy as a whole. |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by Yusuf7777: 5:02pm On Dec 19, 2020 |
The directive is to your advantage. It means you can only receive the USD in cash or request a transfer to your domiciliary account if u have one. The reason is to stop the company from paying you in Naira at some unfavourable rate. So the beneficiary should go the branch and get USD cash or request transfer to his dom account. 1 Like 1 Share |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by Uniquisite: 5:03pm On Dec 19, 2020 |
Yusuf7777: TF ![]() You are absolutely wrong to think CBN is doing this to favour those receiving money from abroad 4 Likes |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by DexterousOne(m): 5:03pm On Dec 19, 2020 |
jajeri3216:Unfortunately..... You are right One has to be proactive.... Despite what's going on 3 Likes |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by themaestro08(m): 5:04pm On Dec 19, 2020 |
bigtt76: Please how possible is it for one to get the dollar at the the official bank rate? |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by ODJ124(m): 5:06pm On Dec 19, 2020 |
humilitypays:lol |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by Nobody: 5:06pm On Dec 19, 2020 |
DexterousOne: How r u keeping, ma man Dexter? It's been awhile. 1 Like |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by DexterousOne(m): 5:07pm On Dec 19, 2020 |
jajeri3216: I'm good Thanks for asking Hows it going at your end ? |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by paste007(m): 5:08pm On Dec 19, 2020 |
surrogatesng:do i need to create a domiciliary account to pick the money up? 1 Like |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by Nobody: 5:10pm On Dec 19, 2020 |
DexterousOne: Hanging in there. We thank God |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by TechCapon(m): 5:11pm On Dec 19, 2020 |
YoungB1a:try using the africard from UBA. what's it saying? 1 Like |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by dandollaz: 5:11pm On Dec 19, 2020 |
bigtt76:Have the other way round help dollar to stabilise.The idea is diaspora will be happy to send dollar and the receiver will get same.If someone have sent dollar to you before and you started pressing calculator only to get to bank and discover that they have cut the money into 2. 3 Likes |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by nextdoor84(m): 5:14pm On Dec 19, 2020 |
obiekunie2: Please, would like to know if international transfer into domiciliary accounts are also affected! Thanks |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by ello29(m): 5:15pm On Dec 19, 2020 |
You can send money in dollars to your bank account and also you can cashout in dollars but you can't do transaction or buying anything online in dollars only cash out and convert to any currency of your choice. obiekunie2: |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by Blackdisciple(m): 5:17pm On Dec 19, 2020 |
Hmmm |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by Uniquisite: 5:19pm On Dec 19, 2020 |
ello29: Receive dollar into Naira bank account? Hmm |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by Nobody: 5:27pm On Dec 19, 2020 |
EarlyCareer:long process, what is the idea behind it? How would this benefit me or the receiver? 1 Like |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by adeheritage: 5:28pm On Dec 19, 2020 |
bigtt76: Very soon, Nigeria will adopt the US dollar for domestic transactions 1 Like |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by Nobody: 5:34pm On Dec 19, 2020 |
Uniquisite:I wonder, what kinda rubbish is that? Why can't I just pay money directly to my Nigerian account? Why the hassle of receiving and going to exchange? How would that benefit me? 2 Likes |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by AIT1(m): 5:38pm On Dec 19, 2020 |
emmy512: I wish to know too. |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by Nobody: 5:40pm On Dec 19, 2020 |
Uniquisite:Total rubbish |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by Odingo1: 5:44pm On Dec 19, 2020 |
What of other currencies like Euro, Japanese Yen, Canadian dollar etc. Will they convert it to US dollar or what. The policy get K-leg. |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by Akainzo(m): 5:46pm On Dec 19, 2020 |
bigtt76: I am totally aligned with your skepticism, however to prevent the sales at a loss, the BDC/BM will drop the exchange rates offered to people. The IMTOs would have to credit the Foreign Reserve account of Nigeria with the equivalent USD amount since the payout is now in USD, thus CBN is only paying out what it has received and will continue to utilise its own USD for the official transactions. As more USD comes into play, the USD will have to find itself back to the banks. The big elephant that no one is talking about is Domiciliary Accounts!!! Which other country allows ALL citizens to keep money in foreign currencies in their banks? That anyone can decide to bet against the Naira by purchasing USD and keeping in the bank, which adds no value to the economy, is the biggest travesty of the economy I have seen. 7 Likes |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by bigtt76(f): 5:46pm On Dec 19, 2020 |
That's our fear now, when all the Naira has been exchanged for dollars, it may happen adeheritage: 2 Likes |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by bigtt76(f): 5:48pm On Dec 19, 2020 |
On point. Akainzo: |
Re: Central Bank Of Nigeria New Directive On Money Transferred To Nigeria by primestreams: 5:52pm On Dec 19, 2020 |
emmy512:Wanted to ask |
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