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Banks In Dilemma Over Idle $5bn Deposits - Business (3) - Nairaland

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Re: Banks In Dilemma Over Idle $5bn Deposits by Goke7: 10:10am On Aug 26, 2015
teejaykkr:
Nigeria in first 100days of Buhari administration.


Good news about Buhari is now coming from NTA network

Reduction of politicians faces from news line all we see now are technocrats.

Stoppage of war drum from Niger delta war lords.

No more dangerous statements coming from our politicians.

Nigerians now look at Boko Haram as bunch of misled Nigerians who are now getting their ass kicked.

Refineries are now working.

Fuel importers are now begging,

Electricity is now at an average of 12 to 15hrs a day.

Ogoni is getting cleanup,

Policing is no longer for only the rich but the poor

Check points have now varnished.

Corrupt government officials are now retiring themselves.

While others are returning their loots voluntarily.

IGR is increasing and external reserve is also rising dramatically,

Now properties in Abuja are cheaper than in many other states.

Government and all agencies are now having a single account TSA.

Our greedy banks are no longer collecting dollars deposits.

Appointment is now based on merit.

Nigerian politicians show less interest to be appointed as ministers.

For over a month there was no statement coming from the first lady and the wife of the president is traveling on commercial flights.

All this is done without a minister, is all done by one man, one mind, one soul without the interference of others.

What will happen to Nigeria after ministers are appointed?

What a change!

What a great leader!!

Sai Baba.

whoever thinks otherwise is permitted to WAIL, WAIL AND WAIL grin

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Re: Banks In Dilemma Over Idle $5bn Deposits by Rick9(m): 10:12am On Aug 26, 2015
repogirl:
Rick9, have u voted for me? angry

http://mobilebookshelf.com/poll/

Read 'Betrayed by my body' by Peju Amadi and vote, thanks smiley
Yes aunty no time to waste oh

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Re: Banks In Dilemma Over Idle $5bn Deposits by erico2k2(m): 10:13am On Aug 26, 2015
rusher14:


Stop confusing yourself.

Banks have in their coffers the equivalent of 1 trillion naira which they are simply warehousing as we speak.

For me it means the same as having 1 trillion naira idling away.
This is why people fail English,these deposit are hard currencies they cannot sell cos of the new monitory policy kai is this hard to understand at least this is not grammar.Do bank sell naira to Nigerians in Nigeria? have you asked yourself how possible would it be for the banks to withhold Niara without closing the banks itself like the case of greece ATMs in Nigeria cant give dollars hence its in thier volts, if we have such ATM it would be diffrent matter.So read again, these are physical hard currencies not just figurs,For the banks to convert them to naira means they have sold them to me and you where this is not the case as suggested here the green back remains in its green state do you understand it now? its easy as ABC no conversion to naira can occur without the sales of teh said sum.If u cant understand this simple ABC wey my 12 year Old go understand that means I rest my case. cos your own E far.
Re: Banks In Dilemma Over Idle $5bn Deposits by repogirl(f): 10:15am On Aug 26, 2015
Rick9:
Aunty Repogirl you are sighted still waiting for your continuation you know na.
I know, am working on it to give you guys the best, you sef know na. smiley
Re: Banks In Dilemma Over Idle $5bn Deposits by rusher14: 10:18am On Aug 26, 2015
erico2k2:

This is why people fail English,these deposit are hard currencies they cannot sell cos of the new monitory policy kai is this hard to understand at least this is not grammar.Do bank sell naira to Nigerians in Nigeria? have you asked yourself how possible would it be for the banks to withhold Niara without closing the banks itself like the case of greece ATMs in Nigeria cant give dollars hence its in thier volts, if we have such ATM it would be diffrent matter.So read again, these are physical hard currencies not just figurs,For the banks to convert them to naira means they have sold them to me and you where this is not the case as suggested here the green back remains in its green state do you understand it now? its easy as ABC no conversion to naira can occur without the sales of teh said sum.If u cant understand this simple ABC wey my 12 year Old go understand that means I rest my case. cos your own E far.

Stop trying to be argumentative.

My first statement was simple and still is.

Nigerian banks hold as much as 1 trillion naira which at the moment is idling away.

Whatever the funds could and should be used for is defeated if all it does is idle away.

1 Like

Re: Banks In Dilemma Over Idle $5bn Deposits by vivaciousvivi(f): 10:22am On Aug 26, 2015
They should pose that question to the CBN, specifically the CBN Guv. Its his policy and they all should have known that it would come to this at some point. I guess they should just leave it as deposits in the vaults. It could help ballon their Qtr3 Balance sheets. Hopefully by the next financial Quarter, the CBN would advise
Re: Banks In Dilemma Over Idle $5bn Deposits by Atlantian: 10:23am On Aug 26, 2015
This is the change we voted for; Brace up people, we are in for a free fall.

By making the dollar look like an illegal tender, the banks will lose the values of the dollars and their gains will be eroded. And in a scenario where deposit money banks lose money, they transfer their desperation on their customers in a venture capitalist methodology. The interest rates will go down on our deposits. There will be increased in parallel fx markets, atleast we have another called 'electronic dollar rates now' and the entire system will face marginal fluctuation differences. This is not good for the Nigeria Economy at least for the masses. I understand that the foreign reserves will keep increasing, after all, Buhari has not initiated any infrastructural expenses since he was sworn in, so he basically spends on salaries and the system is on comatose, while reserves pile up.

But for the common-man on the street, the price of commodities will be up. Why ? Because our importers can not access hard currencies in time and at the same rates that was applied during a sane era. The politicians will not care, after all they can launder the funds through the churches as always. The churches with private jets, that dont pay their taxes, will certainly load their cargo areas with 'donations' meant to 'build cathedrals' in "Angola". And they are way too holy to be subjected to searches.

By and large, I figure out that the only business that a crudely smart mentality person sees here, is to courier your dollars and smuggle them through the Idiroko border into Togo, and wire out from there to import your goods.

Welcome to Change my great voters. Welcome to quack economic monetary control.

SOLUTION:
Nigeria must act now, as if there is no oil. Because the fall in prices of oil, our only source of revenue is our bane. The Federal Government must abrogate their ownership of land and the resources therein to individual owners, so we can mine our resources individually as states and local government and compete economically. We have so much coal in Enugu and Ebonyi, yet the states cant extract it, because it belongs to Federal Government, and Federal Government prefers to destroy Niger Delta in search for oil, while abandoning coal and other areas.

Buhari is already too old to understand that he cant run this country, and he needs a cabinet, but he is used to being a dictator.

Goodluck Nigeria, the Messiah we will never have again is happier.

1 Like

Re: Banks In Dilemma Over Idle $5bn Deposits by tonjeola(m): 10:40am On Aug 26, 2015
Just passing..
Re: Banks In Dilemma Over Idle $5bn Deposits by avenger74(m): 10:41am On Aug 26, 2015
bring me the dollar i want to buy bb me 556C5EC6
Re: Banks In Dilemma Over Idle $5bn Deposits by erico2k2(m): 10:46am On Aug 26, 2015
rusher14:


Stop trying to be argumentative.

My first statement was simple and still is.

Nigerian banks hold as much as 1 trillion naira which at the moment is idling away.

Whatever the funds could and should be used for is defeated if all it does is idle away.

I think You now understand the point.
Re: Banks In Dilemma Over Idle $5bn Deposits by cecegorz(m): 10:49am On Aug 26, 2015
vivaciousvivi:
They should pose that question to the CBN, specifically the CBN Guv. Its his policy and they all should have known that it would come to this at some point. I guess they should just leave it as deposits in the vaults. It could help ballon their Qtr3 Balance sheets. Hopefully by the next financial Quarter, the CBN would advise

It's actually the opposite Vivi.
Banks are losing money because these assets are IDLE! You can't trade them to make revenue, yet you pay pool charges to CBN for keeping them.
Burning your candle from both ends never grows the stick.
Re: Banks In Dilemma Over Idle $5bn Deposits by christinie(f): 10:54am On Aug 26, 2015
Goke7:


WAILERS ALERT! You have no choice, una wailing never start grin
you are not smart.
Re: Banks In Dilemma Over Idle $5bn Deposits by CSTR2: 11:01am On Aug 26, 2015
The austerity of 1984.
smh.
Re: Banks In Dilemma Over Idle $5bn Deposits by Adema250(m): 11:03am On Aug 26, 2015
someone should pls help a brother, i have severe eye problems https://www.nairaland.com/2552232/need-urgent-pls-eye-defect#37329957
Re: Banks In Dilemma Over Idle $5bn Deposits by tabaralph: 11:16am On Aug 26, 2015
This simply means that no more business as usual for those thieving politician who launders and transfer millions of dollar to their foreign acct,those wt raw cash dollars will be forced to sell to the black market at ridiculously lower rate,hence the rate of dollar to naira wl automatically fall,foreign reserve wl increase and nigeria economy will be better for it,remember 1984 when BUARHI changed the money those politican that stole our money were dissapointed,the samething wl happen soonest and nigeria will be great again![color=#990000][/color]

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Re: Banks In Dilemma Over Idle $5bn Deposits by benzion72(m): 11:37am On Aug 26, 2015
Simple thing Baba Buhari should freeze all domiciliary account and ask each person to provide document to back up his dollar. Any one without genuine source should forfeit his dollar.
Re: Banks In Dilemma Over Idle $5bn Deposits by vivaciousvivi(f): 12:14pm On Aug 26, 2015
cecegorz:


It's actually the opposite Vivi.
Banks are losing money because these assets are IDLE! You can't trade them to make revenue, yet you pay pool charges to CBN for keeping them.
Burning your candle from both ends never grows the stick.

Banks assets are always idle at some point are they not? They don't lend or trade with all of them.
What am I saying is that their Q3 Financial Report would look good pending when CBN's new medium term directive comes.
Re: Banks In Dilemma Over Idle $5bn Deposits by menxer: 12:26pm On Aug 26, 2015
kenny987:


The choice to send children abroad to study is just exactly that, choice! However, the Nigerian govt has a sworn duty to develop and sanitise the education system. If they fail to do that it is no fault of honest Nigerians who want their children to have different experiences. Instead the govt can and should direct that no ward of elected or appointed govt officials should school abroad. That's their prerogative.

Frustrating access to legitimate funds for business and other commitments is just wrong.

choice indeed, as if all Nigerians can make such.

you speak of government as an entity different or separate from Nigerians.
Re: Banks In Dilemma Over Idle $5bn Deposits by menxer: 12:32pm On Aug 26, 2015
erico2k2:

I smell jealousy if not what has this got to do with people sending their kids abroad to school??

no be ordinary jealousy, it's garnished with bad Belle grin

me wey school for Nairaland, why I no go jealous them? as if that would put food on my table.grin
Re: Banks In Dilemma Over Idle $5bn Deposits by kayo80(m): 12:51pm On Aug 26, 2015
fishbone11:

Men that want to last long in bed should just buy TRAMADOL, that's all, then u'll testify later.

Yea. They would also testify when they start to experience its side effects.
Re: Banks In Dilemma Over Idle $5bn Deposits by cecegorz(m): 12:53pm On Aug 26, 2015
vivaciousvivi:


Banks assets are always idle at some point are they not? They don't lend or trade with all of them.
What am I saying is that their Q3 Financial Report would look good pending when CBN's new medium term directive comes.
Oh yes.
But I can bet that banks will rather not be sitting on a large balance sheet with a dwindling Net interest margin.
Re: Banks In Dilemma Over Idle $5bn Deposits by vivaciousvivi(f): 12:57pm On Aug 26, 2015
cecegorz:

Oh yes.
But I can bet that banks will rather not be sitting on a large balance sheet with a dwindling Net interest margin.
I get you now. Makes sense
Re: Banks In Dilemma Over Idle $5bn Deposits by Nobody: 2:58pm On Aug 26, 2015
christinie:
Importers and exporters, manufacturers, foreign students, honeymooning couples, holidaying families, tourists etc suffering because of this. Why crush the economy because you want to catch your fellow thieves? Why not use other methods to hunt them instead of paralysing the whole economy. When people were insisting on seeing certificates some of you were busy chanting "Sa!", now you see the outcome. Am so sorry for my country.

Hello cutie.
Re: Banks In Dilemma Over Idle $5bn Deposits by fishbone11(m): 3:12pm On Aug 26, 2015
kayo80:


Yea. They would also testify when they start to experience its side effects.
Everything in life have side effect my brother...I think this will help with the use and side effect. www.drugs.com/tramadol.html
Re: Banks In Dilemma Over Idle $5bn Deposits by Nobody: 3:13pm On Aug 26, 2015
kenny987:
They are slowly but surely turning the economy into one big, comatose mess. It is insane to limit the Naira Mastercard value to $300/day. What can that achieve?

Close marking deposits and expenses are also very myopic. Imagine students living outside school accommodation being unable to access funds with which to pay rents. The school halls are usually more expensive yet we are giving them 'market' and limiting choices of individuals. Time will tell...
Imagine trying to pay rent of £500/month for instance, one would have to start withdrawing at least 5days before and all those punitive bank charges will apply on each withdrawal o! Hmm...ok na

Sharrap joor...no be you want change?

But £500/month is fucking expensive oh! Which kain house be dat? Na mansion? Na so house cost reach for U.K? Diariz godu oh!
Re: Banks In Dilemma Over Idle $5bn Deposits by christinie(f): 3:21pm On Aug 26, 2015
drlawizle:


Hello cutie.
Do I sound like am tripped by sweet names?
Re: Banks In Dilemma Over Idle $5bn Deposits by kenny987(f): 3:25pm On Aug 26, 2015
drlawizle:


Sharrap joor...no be you want change?

But £500/month is fucking expensive oh! Which kain house be dat? Na mansion? Na so house cost reach for U.K? Diariz godu oh!

If u take time to read my posts u would know I already saw through the change sham from day 1 and never supported it. At least not this APC /Buhari packaging. I will refrain from being rude to u as u were in responding to my post.

I am talking of a room in London not flat o! Some cost up to £600 or more depending on the size. Outside London is cheaper.
Re: Banks In Dilemma Over Idle $5bn Deposits by kenny987(f): 3:33pm On Aug 26, 2015
menxer:


choice indeed, as if all Nigerians can make such.

you speak of government as an entity different or separate from Nigerians.

Yes, it is a choice and no, not everyone can make it. However it is the duty n obligation of the govt to fix n maintain a sound economy n educational system so Nigerians do not feel like they have to make the choice, like it's a privilege or that studying at home guarantees a mediocre level of education at best while foreign education is of abetter/higher standard.

For instance, a greater percentage of US, UK and Canadian citizens have never travelled out of their countries and don't know much about other countries because their systems work! They are guaranteed good education and all other things like health care, jobs security and so on so they don't have to travel to 'develop ' themselves or seek greener pastures. If a Canadian studies in the UK for instance, it is a choice! That is what it should be.
Re: Banks In Dilemma Over Idle $5bn Deposits by Nobody: 3:35pm On Aug 26, 2015
christinie:
Do I sound like am tripped by sweet names?

Oh sorry.
Re: Banks In Dilemma Over Idle $5bn Deposits by Nobody: 3:38pm On Aug 26, 2015
kenny987:


If u take time to read my posts u would know I already saw through the change sham from day 1 and never supported it. At least not this APC /Buhari packaging. I will refrain from being rude to u as u were in responding to my post.

I am talking of a room in London not flat o! Some cost up to £600 or more depending on the size. Outside London is cheaper.

C'mon don't tell me you can't recognize a joke when you see one....so just a room as in room and parlour for £600??! What are d side attractions?
Re: Banks In Dilemma Over Idle $5bn Deposits by kenny987(f): 3:44pm On Aug 26, 2015
drlawizle:


C'mon don't tell me you can't recognize a joke when you see one....so just a room as in room and parlour for £600??! What are d side attractions?

Lol...ok u got me. No, I'm talking of a single room with bed, chair, reading table, toilet n bath. Outside London is cheaper though. U can get flats for £300/month depending on the area. Use Google na n check for flats in London make u see prices.

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