joshmee4real:
Just yesterday, someone transferred some Amou nt to my account, after receiving the alert, I then got a msg from my bank that the sum exceeded CBN limit for bla bla bla. Now the money transferred to me is not captured on my balance, but its captured on my ledger balance ( so said the bank). Pls does anyone have an idea what's wrong?

iLegendd:
Fraudsters are in trouble. Thank God! I see where this is going, but most won't.

ImmaculateJOE:
Wahala for us wey never receive money from abload..

The thing wey those commenters dey yern up there dey do me like magic..

Cutehector:
You will not see Zzor on this thread. Because her brain cannot carry these things.

bigtt76:
Exactly but a bad policy.

1. It's recognizing the black market and legit helping to channel forex there.

2. The black market would get saturated at a point in time because no business man or woman would go there to source forex for business and the black marketers would not sell to the banks at the CBN rate

3. Naira in circulation would be mopped up at a point in time resulting in the dollarization of the economy (no one would want tk be paid in naira)

4. At the end of the day, beneficiaries would have no option but to exchange with the banks or hoard in their domiciliary accounts.

golddust6000:
Not only her, Nigerian women in general are dumb, as long as you are not discussing about relationships and sex you won’t see them here.

bigtt76:
Exactly but a bad policy.

1. It's recognizing the black market and legit helping to channel forex there.

2. The black market would get saturated at a point in time because no business man or woman would go there to source forex for business and the black marketers would not sell to the banks at the CBN rate

3. Naira in circulation would be mopped up at a point in time resulting in the dollarization of the economy (no one would want tk be paid in naira)

4. At the end of the day, beneficiaries would have no option but to exchange with the banks or hoard in their domiciliary accounts.

modsAREuselesss:
how are they in trouble. if them collect 1k usd and go change am for aboki 450k. no be them dey gain?

bigtt76:
Exactly but a bad policy.

1. It's recognizing the black market and legit helping to channel forex there.

2. The black market would get saturated at a point in time because no business man or woman would go there to source forex for business and the black marketers would not sell to the banks at the CBN rate

3. Naira in circulation would be mopped up at a point in time resulting in the dollarization of the economy (no one would want tk be paid in naira)

4. At the end of the day, beneficiaries would have no option but to exchange with the banks or hoard in their domiciliary accounts.


I beg to disagree with your points, what will happen is that the law of demand and supply will force the agents to be competitive and also help the floating policy to work better.

It will boost the naira value because hoarding will have no place unlike before when the bankers dictate to you what rate they want to give you .

The bankers will frustrate it with "no cash to pay" antics. That is my only fear

Tobies:
So where can we convert the usd to naira,after collecting it from the baNk?...in the same bank too?

obiekunie2:


sorry sir, this explanation doesnt tarry.

it says - mobile services and bank accounts are temporary suspended.

if these avenues are suspended, how do you receive the fund??

how do you now send for cash pickup??



this country is ssoooo confusing and complicated!


PLS CAN SOMEBODY SHED MORE LIGHT ON THESE?

TIME TO GO GHANA, NIGER OR COTONOU AND OPEN AN ACCOUNT.

FuckThaMod:
So is this good or bad news?

Laboni:
The reason for this policy is to flood the market with hard currency so as to reduce the current exchange rate which has hit the roof as a result of scarcity of dollars.

onatisi:
it wont , infact it will compound the problem , very soon when the problem starts , cbn will again change the policy , they have done it before and it didn't work . the problem of our exchange has got nothing much to do with the banks , the problem has mainly to do with our foreign earnings which has dipped drastically . and that is what is causing fx scarcity . except wu , money gram and co will be flying in their dollars in from america or wherever i dont see how they will have enough dollars to be giving to the people . it will get to a point , they will be telling customers , no dollars come back tomorrow , and ppl will be forced to collect naira .
this is just my own opinion though

madridguy:
Trading with them at your own risk. Nairaland can advertise for anyone.

bigtt76:
Exactly but a bad policy.

1. It's recognizing the black market and legit helping to channel forex there.

2. The black market would get saturated at a point in time because no business man or woman would go there to source forex for business and the black marketers would not sell to the banks at the CBN rate

3. Naira in circulation would be mopped up at a point in time resulting in the dollarization of the economy (no one would want tk be paid in naira)

4. At the end of the day, beneficiaries would have no option but to exchange with the banks or hoard in their domiciliary accounts.

Tats:
This is not good, especially at this time of the year. Some of us have naira accounts in Nigeria that we transfer money to and then distribute to others from that account. Anyway, Azimo is still sending in naira, albeit at a much lower rate than before.

Aforxzy:
But some banks are still paying in naira. First bank paid only in 100s last week while the balance was paid in naira at the banks exchange rate.

tiamiyukunle69:
Search for Eversend on playstore. Get verified. Fund your wallet using your card abroad. Then send to yourself via the app into your local bank account. Their exchange rate is way better than interbank rates.

Laboni:
It means instead of sending Money directly to your account from abroad, converted and paid into your account when used international money transfer services like western union, money gram, ria money, etc., sending money directly to your account or mobile wallet is currently disabled. You can only receive money via money transfer services like western union, money gram, etc. and when the money is sent, your bank will pay you cash in dollars. So if you have someone abroad that wants to send you money, tell them to send it through transfer services like western union and tell them to specify it.. “cash pick up”. Make sure you have a valid id for pick up.

horlamilekan23:


Do they accept Nigerians?
And can I fund eversend with a payooner card?