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Photo - CBN Alert That Almost Emptied My Account Today (beware) / Naira "Strenghtens" To N270/Dollar At Parallel Market / Naira Situation Worsens, Falls To N270/$ (2) (3) (4)

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.. by 1Alex4u: 11:13pm On Feb 03, 2016
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Re: .. by Remii(m): 11:18pm On Feb 03, 2016
CBN is aware, Form A, BTA , PTA clients but at official rate.
Re: .. by 1Alex4u: 11:35pm On Feb 03, 2016
Remii:
CBN is aware, Form A, BTA , PTA clients but at official rate.
Please help me understand how this relates to foreign transactions like POS/ATM withdrawals exchange rates?
Re: .. by Nobody: 11:50pm On Feb 03, 2016
Because they are grand thefts.
Re: .. by Remii(m): 12:25pm On Feb 04, 2016
1Alex4u:

Please help me understand how this relates to foreign transactions like POS/ATM withdrawals exchange rates?
banks say they use cbn forex for officially approved requests while source for others from open market. Remember you withdraw not from their atm, they have inter bank, rate to pay. But you are correct, the gap is too much, especially for banks like UBA, I cannot use their atm card outside Nigeria unless life depends on it

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