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Nairaland Forum / Nairaland / General / Business / CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances (35919 Views)
90% Of 2023 Diaspora Remittances Didn’t Get To Nigeria — Oyedele / Diversion Of Diaspora Remittances To Black Market Weakens Naira - CBN / Naira-4-dollar Scheme Ends May 8, Banks Tell Customers (2) (3) (4)
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CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by GamalNasser: 1:36pm On Mar 06, 2021 |
CBN introduces ‘Naira 4 Dollar Scheme’ for diaspora remittances, to pay N5 for every $1 remitted Source: https://nairametrics.com/2021/03/06/breaking-cbn-introduces-naira-4-dollar-scheme-for-diaspora-remittances/ 9 Likes 5 Shares
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Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by GamalNasser: 1:38pm On Mar 06, 2021 |
Is this not another road to corruption? What nonsense is this please ? Who send CBN this needless work? This is how I woke up this morning and found out access bank had opened me Dorm account by fire force when I didnt even request for it . CBN where is the 5 naira coming from? 58 Likes 5 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by Simplyleo: 1:41pm On Mar 06, 2021 |
GamalNasser:We Nigerians sent CBN. And it has nothing to do with online country. 18 Likes 8 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by CodeTemplar: 1:44pm On Mar 06, 2021 |
Lol. . . they will take the remitted dollar at a lower rate forcefully and make the real beneficiaries of the remittances and forex buyers to buy it at a higher rate. Out of the difference of about N100, they will use N5 to bribe the remitter of the forex. Why not tax cattle seller like 2.5k per cattke above 100k? They always looking to take from where southerners are active in and send it to other parts of the nation. 91 Likes 8 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by CodeTemplar: 1:48pm On Mar 06, 2021 |
GamalNasser:Rubbish initiative. After maintaining two rates with a wide difference, they want to use N5 of the remitter's money as a bait to corner the dollar. 26 Likes 2 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by Mightyhaiz: 1:50pm On Mar 06, 2021 |
Simplyleo:So e never reach when u go get sense 66 Likes 2 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by GamalNasser: 1:51pm On Mar 06, 2021 |
Mightyhaiz: That guy is lost to Zombism for ever 44 Likes |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by sofeo(m): 1:54pm On Mar 06, 2021 |
Ok. 2 Likes |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by GamalNasser: 1:54pm On Mar 06, 2021 |
CodeTemplar: Just imagine the fraud 6 Likes 2 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by Nbotee(m): 2:27pm On Mar 06, 2021 |
For those who do not understand the post, CBN wants to b paying Nigerians 5 naira for every 1 dollar they receive but the 419 behind it all is the useless exchange rates dey dey maintain.. In other words dey want to bribe Nigerians 5 naira for collecting their dollars at their 419 rate 73 Likes 3 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by rontolo(m): 2:31pm On Mar 06, 2021 |
Story, offered rates won’t be favourable to the diasporas. We will continue to finds means to get Abboki rates via peer to peer. 24 Likes 2 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by tit(f): 2:38pm On Mar 06, 2021 |
Nbotee: "They can collect as (dollar) cash across the counter"? 17 Likes 2 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by Epstein(m): 2:40pm On Mar 06, 2021 |
4 Likes 2 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by Perfectsouth(m): 2:42pm On Mar 06, 2021 |
Ok |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by FalseProphet1(m): 2:42pm On Mar 06, 2021 |
I see that more than 70% of people reading this post have no idea what it means. This I have seen. 68 Likes 7 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by Bampeh: 2:42pm On Mar 06, 2021 |
This will strengthen the naira a bit. The market will be flooded with dollars and people will not be willing to buy dollar for keeping sake. Bampeh is an economist 13 Likes 1 Share |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by Ddokie: 2:42pm On Mar 06, 2021 |
A policy that makes some good sense. rontolo: If the money comes into your dom account, you withdraw dollar and sell it to aboki. Modified I just noticed it's a promo starting from March 8 and ending in May. Haba! Something isn't right. Maybe some people want to cash out. 14 Likes 2 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by beehivedata(m): 2:42pm On Mar 06, 2021 |
Damage control 1 Like |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by GeneralPula: 2:43pm On Mar 06, 2021 |
No wonder they had to ban crypto first.. 12 Likes 1 Share |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by theFilmtric: 2:44pm On Mar 06, 2021 |
say hi if you don't understand the balderdash ![]() theFilmtricsay 3 Likes 2 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by Nobody: 2:44pm On Mar 06, 2021 |
It seems like the naira that has been stolen is too much they are no employing every trick in the book to get the diaspora to send in dollars for the polithiefician to easily cover their loots and move it via dubai. How can you make a policy that any money coming from abroad be it pounds or Euro or Yuan must be in flowed as dollars. Wetin I dey talk self hunger wey ds country dey affect my brain ni. Mama Bidimi abeg come give me one cup of garri and kwilikwili make I soak this afternoon. ![]() 9 Likes 2 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by Patrioticman007(m): 2:44pm On Mar 06, 2021 |
Good |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by Nobody: 2:45pm On Mar 06, 2021 |
Well, good idea For those mocking the idea, the issue is the CBN has one mandate, and one mandate alone. DEFEND THE NAIRA AT ALL COSTS...and it does that by attracting dollars. And the truth is oil prices are too low for Nigeria to earn sufficient dollars. Because Nigerians want price controls for everything, plus insecurity, and corruption, and bad leaders, investment is having a hard time coming in. So, CBN has to resort to all kinds of methods to get dollars. The downside is that Nigerians won't be able to get dollars from abroad, and change to naira at the parallel rate...or higher rate, which to be honest is not fair...and N5 to $1 does not cover potential losses. 11 Likes 2 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by TheChiefUche: 2:45pm On Mar 06, 2021 |
Another Greek gift. 10 Likes 1 Share |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by Nobody: 2:46pm On Mar 06, 2021 |
They are never straight forward. The revenue generated by each #5 paid will be channeled into the pocket of each politician of course. Besides,other countries don't see Nigerians trustworthy enough to do business with. The rate at which naira dropped,is something that need be considered as well. This policy can only lead to more loss instead of gain. Nice idea implemented at a wrong time. What a country. MODIFIED: To those happy with this new development,don't be yet. ------No one will give you free food when he is hungry-------- As it stands now,the country has reached it's elastic limit and it's time to go KABOOM!! The government needs your prayers at this point cause,no body will tell it to your face. The covid-19 saga broke the economy further and worst part was that the Nigerian government had no clue what to do. Fasten your seatbelts. " ![]() 8 Likes 4 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by alingo2013(m): 2:46pm On Mar 06, 2021 |
$1=N5 $10=N50 $100=N500 $1000=N5000 $10,000=N50k $100,000=N500k $1,000,000,=N5m Hahahaha see this massive cash out Nigeria want to do ![]() 8 Likes 3 Shares |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by sanmtiago(m): 2:46pm On Mar 06, 2021 |
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Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by Nobody: 2:47pm On Mar 06, 2021 |
Thieves !!! Looking for every means to MILK their citizens and fund their EXPENSIVE and FRAUDULENT lifestyle... Una no go smell my money and tax ![]() 7 Likes 1 Share |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by onoms4luv(m): 2:47pm On Mar 06, 2021 |
so for every 1 dollar, I will be charge 5naira. this country Sha, that emefiele of a person na only to extortion he Sabi ![]() 3 Likes |
Re: CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances by JimmyAdekanbi(m): 2:47pm On Mar 06, 2021 |
Okay good to know 1 Like |
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