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Nairaland Forum / Nairaland / General / Business / CBN Bans Deposits Into Domiciliary Account (63000 Views)
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Re: CBN Bans Deposits Into Domiciliary Account by Boss13: 6:17am On Aug 06, 2015 |
Image123: How won't the parallel market affect the economy, do they operate in a different economy? Small and micro traders patronize them to purchase foreign products. |
Re: CBN Bans Deposits Into Domiciliary Account by galantjoe(m): 6:21am On Aug 06, 2015 |
atlwireles:very nice explanation if i were cbn gov i should order for closer of all domiciliary account and all other ways to dollarise our economy. for example money transfer should be paid in naira equivalent. with these policy our naira against dollar in black market will be almost par with official rate. then cbn will be the only one to issue foreign currency in the country. |
Re: CBN Bans Deposits Into Domiciliary Account by Reference(m): 6:24am On Aug 06, 2015 |
Good move against those short selling the naira. Why should you stock huge amounts of fx if not to offload for a profit or hedge against future devaluation which in an unstable economy such as ours is tantamount to sabotage. But I really don't know what is all the hue and cry about the naira devaluation. If excessive exhuberance won't stimulate you to diversify your economy, recession and suffering should reboot our memory and elevate our thinking, but no, we insist on a monochromic oily economy. Without deep seated economic reforms built on comprehensive restructuring of the country the economy cannot improve beyond the price regime of oil which is not predicted to improve substantially until 2017-2018. The Nigerian economy is too predictable, too vulnerable and too easy to sabotage....and with the lazy mentality of Nigerians, there is nothing government can do. 2 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by agarawu23(m): 6:30am On Aug 06, 2015 |
Kazrem:morning bro exam things...... she will be back soon |
Re: CBN Bans Deposits Into Domiciliary Account by smartn09(m): 6:33am On Aug 06, 2015 |
emorse:Thank you for this question! Waiting for the ans. |
Re: CBN Bans Deposits Into Domiciliary Account by Lancier(m): 6:34am On Aug 06, 2015 |
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Re: CBN Bans Deposits Into Domiciliary Account by Laredojohn(m): 6:47am On Aug 06, 2015 |
D last statement, those who have deposited, b4 the circular are to withdraw as they will not b able to transfer... believe that isn't necessary, they should just ignore that and move on with their directives.... |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 6:49am On Aug 06, 2015 |
Trailblazer1:. |
Re: CBN Bans Deposits Into Domiciliary Account by warrior01: 6:51am On Aug 06, 2015 |
Boss13: I hope you guys close your borders as those excess dollars will find their ways to Nigeria's neighbors countries and you guys will be worse off for it. 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by Asuokaa: 6:54am On Aug 06, 2015 |
barcanista: Am not against u writing ur opinions der is freedom of speech...but stop inciting tribal sentiments in ur views... Many of this guys calling for war don't knw wat dey call war... Eg.. Wen soldiers go and engage BH..guess wat dey use an AA... "Anti-Aircraft Gun" it usually tear soldiers to pieces... I bet u most of dis guy will run at the sound of "SMG"...the highest NA gets is an "HMG".. The sounds of dis weapons will scare u can dey survive ... They will just give soldiers the chance to fist on der women for free.. SE is not like NE... Very vast land... Infact I expect u to create a thread on the negative effect of tribal sentiments and political tensions... No matter who is winning, war is nvr fun... 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by Tanyogo(m): 6:59am On Aug 06, 2015 |
Speechless for now. |
Re: CBN Bans Deposits Into Domiciliary Account by Toks2008(m): 7:12am On Aug 06, 2015 |
barcanista: For real? please explain your assertion because in my view it will bring about fast appreciation of the naira against foreign currencies. The parrallel market has been the major factor responsible for sudden depreciation of the naira and ofcourse with this new policy,cash flow in the parallel market will be minimized and people would rather opt for the official bank exchange rate which will in turn strengthen the naira. All these headline rate of 250 to 1usd is only in black market which is also the parallel market but bank rate is far lower than that. Some insiders in the bank also have a way of selling dollars to the black marketters hence making it business as usual but right now it will no longer be so. lets wait and see how it goes. 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by Toks2008(m): 7:16am On Aug 06, 2015 |
Boss13: Exactly the point i made above. These illegal transaction by the insiders and black marketters are done with dom accounts except they will now be smuggling the fcurrency out of the bank,it will no longer be business as usual. |
Re: CBN Bans Deposits Into Domiciliary Account by Kazrem(m): 7:22am On Aug 06, 2015 |
agarawu23:OK. regards to her. |
Re: CBN Bans Deposits Into Domiciliary Account by eph12(m): 7:58am On Aug 06, 2015 |
Fourwinds:You can receive western union but you can't send so tell me again how yahoo boys are in trouble. |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 8:01am On Aug 06, 2015 |
i dont understand d last statement. people will not be allowed to transfer the funds. but they also said only wire transfer will be allowed. can someone please explain? |
Re: CBN Bans Deposits Into Domiciliary Account by thoth: 8:01am On Aug 06, 2015 |
The Imperialist IMF/World Bank are slowly getting us where we will be most vulnerable, these actions by the Central Bank is making the Nigerian Economy more vulnerable to foreign subversion and attacks. theu are trying to destroy what remains of the Micro Economy and those that survived their destruction will be corralled by the foreign multinationals. i feel very sorry for Nigerians. 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by BizBayo: 8:06am On Aug 06, 2015 |
Activa: No mind am, he thinks he knows better than CBN. 2 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by Boss13: 8:07am On Aug 06, 2015 |
thoth: This is a ridiculous comment from a deranged person 2 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by BizBayo: 8:15am On Aug 06, 2015 |
RichDad1: Honestly, I'm so much happy about this policy. Imagine the billions of dollars that was looted in recent years! The looters want to ruin our precious economy with their loots, but God pass them. Even if them wan go deposit am to bank, not without their BVN, which will be make them traceable. Already, their looted dollars don turn to ordinary paper. This new policy is what I call 'kill them all'. Who says we can't achieve 1 naira to 1 dollar? Na for their eye e go happen. 2 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by BizBayo: 8:17am On Aug 06, 2015 |
tumababa: You can do electronic transfer. |
Re: CBN Bans Deposits Into Domiciliary Account by arsenal1(m): 8:22am On Aug 06, 2015 |
By this circular, those who deposited foreign currencies into their accounts before the directive will now have to withdraw the cash as they are not going to be allowed to transfer the funds. https://www.thecable.ng/just-cbn-bans-deposits-dom-accounts [/quote] This is not in the Circular rather a false assumption by the reporter. Here is a copy of the circular
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Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 8:22am On Aug 06, 2015 |
BizBayo: so what of transferring funds that will not be allowed? isn't that electronic? |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 8:24am On Aug 06, 2015 |
for those of us waiting for uk/us used iphone 6 to sell below 110k before we buy, we have a long time to wait...... |
Re: CBN Bans Deposits Into Domiciliary Account by anonimi: 8:24am On Aug 06, 2015 |
Change to the PAST www.nairaland.com/attachments/2095210_worst_jpeg588f192a23aa02a7b350a8bbe5d18306 www.nairaland.com/attachments/2191699_bc5fu8aevkci_jpeg7fd60ed9cdeded70e187b8a2c1fd9480 1 Like 2 Shares |
Re: CBN Bans Deposits Into Domiciliary Account by BizBayo: 8:31am On Aug 06, 2015 |
tumababa: there are proper legal way of doing that. If you can go through the story once again, you will understand. |
Re: CBN Bans Deposits Into Domiciliary Account by clementcro(m): 8:34am On Aug 06, 2015 |
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Re: CBN Bans Deposits Into Domiciliary Account by sunness(m): 8:43am On Aug 06, 2015 |
NgeneUkwenu:A welcome idea and good initiative.............. God bless PMB |
Re: CBN Bans Deposits Into Domiciliary Account by tinnyashamu(m): 9:00am On Aug 06, 2015 |
THIS MAN JUST DEY DABARU EVERYTIN SHA.... SO MAKE I DEY KEEP MY DOLLS ABI FOR INSIDE POT. DIARIS GOD OOOO |
Re: CBN Bans Deposits Into Domiciliary Account by ikp120(m): 9:55am On Aug 06, 2015 |
emorse: Use your mastercard or visa card to pay at checkout, no need of domi account, just make sure that there is enough money in your account. No one should be going to bank nowadays just to buy goods online. |
Re: CBN Bans Deposits Into Domiciliary Account by miqos02(m): 9:59am On Aug 06, 2015 |
Obiagelli:that's how debit card holders have been buying items online 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by ikp120(m): 10:01am On Aug 06, 2015 |
clementcro: Where is your office? PM me |
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