There is a big economic crises in Naija o, everybody should be prepared!!!


Dear Valued Client,

This is to notify you that the following changes have been made to the International Spend Limit on your Naira Debit and Credit card.


Debit Card
Credit Card

Daily ATM cash withdrawal
$300
$0

Daily POS/Online spend
$300
$300

Total Annual International spend
$10,000
$10,000

If you require additional foreign exchange, kindly apply for a Domiciliary account with a Foreign Currency Debit card or PTA/BTA.

Please be reminded that all Naira denominated Corporate Cards (Debit and Credit) are restricted from cross border payments. This is in line with CBN directive.

We also wish to remind you to notify us in advance of your travel plans to ensure unhindered use of your cards while abroad.

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Buhari with his 1876 policies...smh

Please be reminded that all Naira denominated Corporate Cards (Debit and Credit) are restricted from cross border payments. This is in line with CBN directive.

So you don't know that the CBN is trying to strengthen the naira in the foreign exchange market

2019 on my mind.

The dullard is hell bent on accusing the former administration on the current crisis while he keep travelling around

http://nairametrics.com/boom-stock-market-crashes-to-a-3-year-low-as-investors-shun-cbn-policies/

The Nigerian Stock Market hit a three-year low Wednesday after stocks skidded to yet another loss on the last day of trading for the month of November 2015. The All Share Index lost 0.83% on the day to take the month to date and year to date losses to 6.18% and 20.98% respectively. The market capitalization will close at N9.415 trillion. The All Share Index also closed lower at 27,385.69 the lowest level since December 4th 2012 according to our records.

Why the drop

Reports reaching Nairametrics suggest one of the major reason for the poor performance in November and October was mainly attributed to the a rash of CBN policies that have impacted negatively on the Foreign Portfolio Investments (FPI). According to the data obtained from the NSE, the exchange has recorded a net FPI outflow of about N53 billion (September YTD) with an outflow of N450.5 billion compared to N390.3 billion in inflows. However, this has also been the trend as FPI outflows have mostly exceeded inflows since we started tracking this data in 2014. Investors reached by Nairametrics allude to the fact that FPI’s provide the liquidity required to drive liquidity on the bourse and believe the October and November data will not only show a net outflow but an overall drop in FPI transactions (Outflow and Inflow).

Another person with the knowledge of the matter explains that local investors who before now had been passive have also been selling down their stocks in droves due to the harsh economic conditions. “People have been selling their stocks because that is the fastest way to raise money at the moment. Even real estate business is getting more and more difficult to sell because no one has the money to buy and sellers are not willing to bring down prices. This leaves them with no option than to sell” he concludes.

If u need pounds contact me. You give Naira I give pounds.

The change we seek is here, may God help us

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That's a low baller move.
Have my own bdc, but this takes the cake.

Getting very restrictive.

http://www.thisdaylive.com/articles/nigeria-is-broke-so-what-s-buhari-doing-/226834/


President Muhammadu Buhari must urgently address the nation’s deteriorating economy and stop just talking about it, writes Desmond Afolayan

The presidency in its rejoinder to a recent statement by the PDP upbraided its spokesman, Mr. Olisa Metuh for “unjustly denigrating the president, who continues to strive with all his might to alleviate and reverse the harm done to the nation by PDP’s misrule and corruption.”

The presidency further made several diversionary and hominem attacks on the person of Mr. Metuh and the PDP, failing to address a very serious issue raised by the main opposition party in the country. The presidency needs to be reminded that in a healthy multi-party democracy, the opposition party takes on a crucial role of holding the ruling party and the current administration to account for every action or inaction that can hurt the country, and ultimately help to articulate the frustrations of those, who bear the brunt of bad governance.

The PDP, warts and all, has a role to play in our democratisation journey, while the Muhammadu Buhari administration as the legitimate bearers of the mandate of the Nigerian people also have their role to play.

In this case, the PDP has chosen the very apt concept of De-Marketing to pass across a message. A dispassionate consideration leads any true patriot to agree that it does appear the president's media handlers truly have a challenge in helping their principal play his role as the Chief Marketing Officer of Nigeria effectively, inadvertently de-marketing Nigeria instead.

The global economic space is a very hostile environment not given to sentiments, where visionary governments take every opportunity to sell their countries' competitive advantage while downplaying the challenges and unsavoury aspects about them.

President Buhari needs to be advised to rest his vapid rhetoric about all of Nigeria's woes being caused by his predecessor and the PDP – Nigerians and the rest of the world know that already. He needs to be guided on how to sell Nigeria; he needs to tell us what we don't know.

He should restrict discussions about our flaws to his strategy sessions with his team back home. When he is in the field as a marketer with definite performance targets, he is to convincingly sell Nigeria by highlighting our strengths that make us such a viable country to invest in.

It is pertinent to note that Nigeria needs the international community more than ever before to work with us to address our economic and security challenges. We urgently need fresh foreign direct investments in our economy, not the type that milks our country and increases capital flight, but tangible models that will help bridge our huge infrastructure deficits and broaden the economic opportunities available to our people.

We are best positioned to get at least, a fair end of the stick if we speak from a position of strength, a position that tells that the current administration might have been fazed by the depth of the moral and material rot they inherited, but is energised by a greater force – that of clarity of vision, and the capacity to marshal intelligent and pragmatic solutions. Whining about the past will not help us. Mr. President, Nigeria is broke, so what are you going to do about it?

At some point, our challenges will stop being the fault of former President Jonathan and the PDP. Five months into the tenure of this administration, we are nearing the tipping point when the sun on the Buhari administration’s honeymoon will rise and Nigerians will turn our frustrations in the direction of those, who currently hold the power to make a difference in our lives.

In fact, if the truth be told, some of our challenges have been exacerbated by the absence of neither a coherent economic policy framework nor a cabinet in place to drive the much anticipated changes, long after President Buhari’s assumption of office.