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Nairaland Forum / Nairaland / General / Business / CBN Bans Deposits Into Domiciliary Account (62983 Views)
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Re: CBN Bans Deposits Into Domiciliary Account by Image123(m): 11:54pm On Aug 05, 2015 |
iretiland: Lol, you that have economic brain, what do you suggest? 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by Boss13: 11:57pm On Aug 05, 2015 |
Sincere4u: Sir, if that dollars is in your bank account, I would advise you exchange it to naira. If it is kept in your house, hit the black market tomorrow and exchange it to naira in order to get good value for it. The directive just ended the speculation game 3 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by Mars88(m): 11:57pm On Aug 05, 2015 |
owobokiri: u are a Picasso of sarcasm and this made my day 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by Image123(m): 11:58pm On Aug 05, 2015 |
atlwireles: Form A and M are viable options. Also, some business can be done with naira accounts. Hopefully, other countries would be forced to change policies and accept payments from naira accounts and cards if they want business to flow well like before. i think I'm loving Buharinomics. |
Re: CBN Bans Deposits Into Domiciliary Account by igbizen(m): 12:01am On Aug 06, 2015 |
RichDad1: exactly wat I was thinking, o Bob you need to see looting n changing. even agbero for warri dey convert d naira he oppress ppl to get into dollars and Euro and pounds. RichDad1: exactly wat I was thinking, o Bob you need to see looting n changing. even agbero for warri dey convert d naira he oppress ppl to get into dollars and Euro and pounds. |
Re: CBN Bans Deposits Into Domiciliary Account by Boss13: 12:04am On Aug 06, 2015 |
Image123: Well with the president position and fight against corruption and illicit proceeds, our transparency international rating will improve and likewise, our anti-money laundering rating for FAT F. This will enable countries to consider doing business with us because the stringent rules will be relaxed and transactions emanating from Nigeria will be considered legitimate transactions. Now you see why the fight against corruption is very important. It is like what the Christians call being Born Again and when old things are foregone and all things being new 2 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by ddbluv: 12:16am On Aug 06, 2015 |
Boss13: Me chonu... So I shouldnt carry $1 along abi.. |
Re: CBN Bans Deposits Into Domiciliary Account by Image123(m): 12:31am On Aug 06, 2015 |
Boss13: Hehehe, I'm a Christian, you're right on the money. This country needs to be born again literally. 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 12:39am On Aug 06, 2015 |
Boss13: Waaooow!!!, this is frightening really. I lost a lot when naira fell now the much i have in hard currency is being targeted. Will head for the bank ASAP. Thanks anyways. God save me this time else i go kill myself for Emefuleooo. 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by 2sex(m): 12:44am On Aug 06, 2015 |
atlwireles:no... It doesn't |
Re: CBN Bans Deposits Into Domiciliary Account by 2sex(m): 12:58am On Aug 06, 2015 |
Joe50:it will not affect you. Electronic payments are not affected as long as you pay in naira while bank do the conversions for you into currency for payments. |
Re: CBN Bans Deposits Into Domiciliary Account by gawu1: 1:02am On Aug 06, 2015 |
Asuokaa:You took your time admonishing that unrepentant bigoted disgruntled tribalist. Good move, but I assured you he won't budge. From every of his post he always tries to sound educative with wandered facts, baseless criticism accentuated from his tribalist comatose brain to galvanize support from un suspected gullibles in the house on his open secret agenda. Nothing good would come; such has been pre-set his mind set right from the day he realised power direction was out of reach of his someone. He's away from reality that Nigeria and Nigerians are there above and below him even from his own enclave angling who fathom life pragmatically rather than with subjective absurdity. The guy is crook and such he is. Nigeria must go abyss every facet so far its others not from his own shadeside. What an abysmal fellow. Often at time, these kind dangerous creatures are misunderstood to mean realism on the solace of freedom of expressions, particularly with the pervasive social injustice that bedeviled our nation. We say our country is not on the right tracks political and economic wise. Yet, every profound move for solution he would either fault or dismiss it outrightly, only because he wants his postulation and supposition that someone shouldn't have being in power to come to past? So, why won't he concentrate attack on individual? I guess he will hardly take to your advice. He's pained seriously. 2 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by 2sex(m): 1:03am On Aug 06, 2015 |
dvee2:not affected in anyway. Wire Transfer is still very much available. |
Re: CBN Bans Deposits Into Domiciliary Account by 2sex(m): 1:06am On Aug 06, 2015 |
Boss13:these set of people can wire the money into their dorm account before entering the country. Simple. |
Re: CBN Bans Deposits Into Domiciliary Account by Kazrem(m): 1:30am On Aug 06, 2015 |
agarawu23:hi bro, what happen to aminat58? She's not been on nl and didn't reply for a while now |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 2:00am On Aug 06, 2015 |
Neighboring countries are going to profit from this silly policy by the dullard. The rich Nigerians and expatriates are going to be taking dollars through the borders and deposit them in domiciliary accounts in those countries thereby contributing to their economies and might leads to appreciation of their currencies. It is based on the law of demand and supply in many cases. Money laundering just took a new turn in Nigeria. |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 2:02am On Aug 06, 2015 |
NgeneUkwenu:why must u post buhari wearing an igbo attire?? Has the mallam metamophocised to an igbo man?? |
Re: CBN Bans Deposits Into Domiciliary Account by InvertedHammer: 2:34am On Aug 06, 2015 |
NgeneUkwenu: Really? Retroactive law!
In other words, if you have no foreign account for interbank foreign currency transfer, you are screwed! Crazy Tough time for importers ahead. I hope the Form M and A will be readily available.
What is the timeline for the deposit? Up to 5,10,20 years ago? |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 2:39am On Aug 06, 2015 |
atlwireles:. Transact electronically using visa, MasterCard etc. Black market if possible should be dicouraged |
Re: CBN Bans Deposits Into Domiciliary Account by InvertedHammer: 2:42am On Aug 06, 2015 |
Image123:/ I like your optimism as highlighted. Hope is the keyword. \ |
Re: CBN Bans Deposits Into Domiciliary Account by InvertedHammer: 2:48am On Aug 06, 2015 |
/ OP misrepresented the content of the CBN memo. CBN did not ban cash deposits into Domiciliary Accounts. CBN is enforcing the use of Form A and Form M to make cash deposits into Domiciliary accounts. What is the OP' s motive for this distorted and malicious headline? \ cc: NgeneUkwenu |
Re: CBN Bans Deposits Into Domiciliary Account by nobeku: 2:49am On Aug 06, 2015 |
OREMUSSANCTUS:Is Barcanista your Alpha and Omega?Have a mind of your own naa... 3 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by not4sure(m): 3:17am On Aug 06, 2015 |
popcykaylah:Gboys have to convert to the foreign currency fro western union and the question is how long will black market hold on ? and you remember that banks has been instructed to trade in nara 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by nobeku: 3:29am On Aug 06, 2015 |
ERODEDEAST:DUNDEE !!!!!simple English you cannot spoke....hahahahahahahahahahahaha... |
Re: CBN Bans Deposits Into Domiciliary Account by easyelliot(m): 3:34am On Aug 06, 2015 |
Isn't the title misleading? So can u or can u not deposit money into a Dom account? |
Re: CBN Bans Deposits Into Domiciliary Account by aumoria(m): 3:42am On Aug 06, 2015 |
What happens to goods bought from proceeds from black market when they arrive? |
Re: CBN Bans Deposits Into Domiciliary Account by MacPython: 4:33am On Aug 06, 2015 |
please guys how can obtain Form A, especially for student traveling outside the country if u don't want to use parallel market. thanks |
Re: CBN Bans Deposits Into Domiciliary Account by dallyemmy: 4:50am On Aug 06, 2015 |
I don't think it is correct destroying our currency totally like Zimbabwe before we can stimulate export. China currency has not been disvalued at the rate of our own currency devaluation and still remains number one exporting nation in the world! owobokiri: 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by Image123(m): 5:53am On Aug 06, 2015 |
gawu1: barcanista, take note of the above perfect "adjective". 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by Image123(m): 5:57am On Aug 06, 2015 |
all4naija: Yes o, we were hopeless before. |
Re: CBN Bans Deposits Into Domiciliary Account by Image123(m): 6:05am On Aug 06, 2015 |
all4naija: Thought you guys were of the opinion that parallel rates didn't really affect the economy? When naira strengthened from 240 to 209/dollar, your likes said the rate has been 197/dollar and that's the rate that matters. Okay, we'll forgive that, so what do you suggest as you're all for Nigeria. 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by Boss13: 6:14am On Aug 06, 2015 |
all4naija: That's their fat luck. If they want to spend it, spend it in those countries. Another area to strengthen is customs so that these people do not smuggle assets especially illegal assets into the country 1 Like |
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