[b][/b] CBN has banned US$ Domiciliary accounts in Nigeria. Aug 7, 2015; ……….
1. BTA is reduced from $10,000 to US$1500 for personal trip, $2500 for business trip with provision of visa and passport for proof before CBN will approve such BTA in US$ cash.
 2.

Till further notice, Bureau De Change is dead in Nigeria! Nobody goes around looking for US dollars again? For what?
3.The ban was intentional to hit those politicians with large sum of US$ siting in the bank account in Nigeria and to strengthen Naira.
4.  If you want anyone to wire money (Naira or dollars) to you abroad from Nigeria, for you to receive US$ in our bank account abroad, the sender must  fill a form called “form A” at Nigerian bank that will require CBN approvals for money in US$ for school fees, medical expenses, house mortgage abroad only to be permitted. Any other reasons, not permitted till further notice!
5. Nigerians abroad will still be able to send money home using  Bank to Bank Wire Transfers and Western Union but you will only  receive Naija equivalent  not US dollar.
 6. US$ currency cannot be lodged/deposited or withdrawn as US$ cash anymore in Nigeria except it’s converted to Naira..
7. The maximum US$ notes you can travel with to Nigeria is $2500 which you have to declare at the Nigerian point of entry henceforth


http://cynthiamorgansblog.com/cbn-bans-dollar-domiciliary-acc-in-nigeria-new-cbn-financial-instructions/

Hmm

rule No 1 & 5 makes me sad

but the economy of the country is very important

interesting

k

And my uncle is planning to send me 250 US dollars on Wednesday......

What do I do now

benedictnsi:
And my uncle is planning to send me 250 US dollars on Wednesday......

What do I do now

you will get it, but in naira. it will be automatically converted online

This has two wayz going into the economy... Either We regret it by crashing our currency against ISO standard or We get lucky by deflationary measures and International OMO...

How does this add value to the economy


How does this reduce poverty unemployment etc in Nigeria.


Anyway goodluck to Buhari

benedictnsi:
And my uncle is planning to send me 250 US dollars on Wednesday......

What do I do now

Use it to subscribe... That's 1,500 now in Naira... Pele...

WhiteTechnology:
How does this add value to the economy


How does this reduce poverty unemployment etc in Nigeria.


Anyway goodluck to Buhari

Ignorance tho....

Noted!

This is why I kicked against voting this man in......of what use is this 'initiative' now? I hope we won't have a repetition of Jakolo's theory of 45 suitcases of hard currency smuggled through our Airport when Buhari was Military Head of State. If he thinks this will reduce inflation then this Funky Mallam should think again. Many souls do legitimate biz with their Domicilliary Accts, if Buhari wants to stiffle the money laundering activities of the big thieves I believe he knows where to go

Freemanan:

Use it to subscribe... That's 1,500 now in Naira... Pele...

Lol.... Guy laf wan kill me..... Make I use am subscribe ...... Ok na on your WiFi network.... odeh

benedictnsi:


Lol.... Guy laf wan kill me..... Make I use am subscribe ...... Ok na on your WiFi network.... odeh

My Wi-Fi is $250