bishopkay:
Well this would only encourage people to store up their dollars either at home safes or convert them to "laudryable" units. Hehehehe (only coded men would understand what I said last)

Stupid government! Run by the most clueless incompetent old fool in the world.

On another note I'm yet to see any of them zombie hordes comment on this. They all just view and run away

What it means is that more pressure on the black market,the price of dollars will spike again . Business men that needs to move money abroad on a constant basis will either have to shift their forex business to other countries which will add to the cost of the products and services ,some job cuts too,

No wonder bitcoin is getting so expensive. Just put your naira in sites like nairafinex.com or bitx.co and buy bitcoin with it, then send the bitcoin to someone in US to change back to USD for you. Simple!

frankmoney:
Godwin emefiele is highly incompetent and needs to be sacked , I wonder how he comes up with these policies

The man is as clueless as his bubu

onatisi:

The same rule applies,what they are saying is you can put 100k$,in ur dorm account but the maximum you can withdraw and spend in a month is 10k

No, you are wrong. Read the messages sent by the banks properly.

Rekeb:


No, you are wrong. Read the messages sent by the banks properly.

Ok

Rushmore:

The man is as clueless as his bubu

don't blame him,he is doing his best,believe me,the only reason why the dollar is still 480,is because of the cbn governor actions ,if he is aa dull as buhari.the dollar would have risen to 980N. This government simply has no economic blueprint,no economic policy,it is as if they don't know what economic planning and policy is ,all they are looking for is money money money,that was why Dino and the senate raised so much objection to their loan loan plan because the government cant even explain fully how it plans to spend it.

CBN directs all policies the banks disseminates to their customers.

mrkeys226:
this caption is wrong...CBN has not given such a directive. however it is a business decision by the concerned bank.

ogododo:
This is a regulated regime. God please intervene; slowly we are becoming a communist nation.

It's for our own good! CBN keep shouting every day that $22 billion is seating idle in various domiciliary accounts but sadly the owners refuse to withdraw or make use of it
That money alone could help Nigeria out of her forex problems and improve the exchange rate of Naira

sue them

lonelydora:
Since yesterday, Stanbic, Access and First bank haven't allowed me rest with SMS on this restriction

bettercreature:
It's for our own good! CBN keep shouting every day that $22 billion is seating idle in various domiciliary accounts but sadly the owners refuse to withdraw or make use of it
That money alone could help Nigeria out of her forex problems and improve the exchange rate of Naira

No,why should ppl spend their hard earned money to help Nigeria. The 22billion isn't the problem,the nation problem is about production and this government simply has not the faintest idea if how to increase production with the little she has now.

Hello nairalanders, I need someone who understand this policy well, does it mean that if one has a domiciliary account, one can spend up to $10000 and has an ATM attached to the card. Can he purchase things worth up to $10,000 monthly with the card?..

NATIONALPASTOR:
Do they mean foreign transfers to dorm account or just withdrawal?

Foreign transfers in respect of accounts that were funded by CASH.

It does not affect accounts funded by transfers, such as foreign inflows.

Btc is the answer, get a visa card linked to your btc account and you are invisible, who still rely on Nigeria economy? With my btc powered card, if I like I spend 1billiin,it my f. ucking money.

onatisi:

No,why should ppl spend their hard earned money to help Nigeria. The 22billion isn't the problem,the nation problem is about production and this government simply has not the faintest idea if how to increase production with the little she has now.

They are killing the Naira! they should change their money to Naira no country in the world is operating Foreign currency domiciliary account
I think domiciliary account should be scraped its destroying Naira and makes no sense
We need IBAN number to start doing international transfer from our accounts in Naira
The $22billion is part of the problem,add 22+25 to make $47billion
If we have 47$ billion in our reserve,Naira will appreciate by over 15 percent and that should end Nigerians forex problem as Nigeria only need about $11.5 billion per year

[quote author=virginboy1 post=51561022]WHY AM HAPPY THAT MUHAMMADU BUHARI IS THE PRESIDENT*!!!

*...ODIDERE A....*

*Today, I want to take time and thank GOD for making Buhari the president of this country*.

*At first, I did not understand why GOD allowed it to happen. But now I know and I HAVE SEEN reasons why we should accept his Presidency*.

*Had it been Buhari did not become President*:

*1. We will think that by now fuel will be #45 per litre*.

*2. We will think that by now #1 will be equal to $1*.

*3. We will think that by now three million jobs would have been created*.

*4. We will think that by now unemployed youths would have been receiving #5,000.00 stipends*.

*5. We will think that by now pupils would have been getting at least a meal(including fruits) in school*.

*6. We will think that by now Buhari would have made his assets and liabilities public*.

*7. We will think that by now maternal and children healthcare services would be free*.

*8. We will think that by now Boko Haram will be a thing of the past*.

*9. We will think that by now all corrupt leaders will be in jail*.

*10. We will think that by now Electricity will be 24/7*

*11. We think that by now Nigeria will be the Greatest and strongest Economy in the world*.

*12. We will think by now a bag of rice will be N5000 with a boom in Agriculture*.

*13. We will think by now Nigeria would have recovered all looted funds*.

*14. We will think by now Nnamdi Kanu would have declared Independent State of Biafra*.

*15. We will think that by now Nigeria would have gotten 3 standard working Refinery*.

*16. We will think that by now Nigeria would have stopped importation of fuel*.

*17. We will think by now office of the First Lady will no longer exist*.

*18. We will think by now National Assembly salary would have been cut down to 50%*.

*19. We will think that by now 720,000 jobs by the 36 states in the federation yearly (20,000 per state) would have been created*.

*20. We will think that by now there would be permanent peace in the Niger Delta*.

*21. We will think that by now Chibok girls would have been rescued*.

*22. We will think that by now the government would have started creating additional middle-class of at least two million new home owners in the first year in government and one million annually thereafter*.

*23. By now everybody will be blaming Goodluck Jonathan and calling him clueless*.

*The list is almost endless..."*

*This is Nigeria of 2016*

*The Minister of Agriculture studied French*

*The Minister of Education studied Accounting*

*The Minister of Solid Minerals studied International relations*

*The Minister of Power studied Law*

*The Minister of Communications studied Law*

*The Minister of Transport studied English*.

*Minister of Labour and Employment studied Surgery*


*Minister of Budget and national planning studied law*

*Minister of Foreign Affairs studied Medicine*

*Minister of Petroleum studied Law*

*IGP studied Agriculture*

*I didn't say anything ooo but I hope u know why our economy is on recess*.

*THANKS*
Guy I just hope the Zombies would for once reason along this line, but no they would continue to reason and type like Zombies they are called and known for.

virginboy1:
WHY AM HAPPY THAT MUHAMMADU BUHARI IS THE PRESIDENT*!!!

*...ODIDERE A....*

*Today, I want to take time and thank GOD for making Buhari the president of this country*.

*At first, I did not understand why GOD allowed it to happen. But now I know and I HAVE SEEN reasons why we should accept his Presidency*.

*Had it been Buhari did not become President*:

*1. We will think that by now fuel will be #45 per litre*.

*2. We will think that by now #1 will be equal to $1*.

*3. We will think that by now three million jobs would have been created*.

*4. We will think that by now unemployed youths would have been receiving #5,000.00 stipends*.

*5. We will think that by now pupils would have been getting at least a meal(including fruits) in school*.

*6. We will think that by now Buhari would have made his assets and liabilities public*.

*7. We will think that by now maternal and children healthcare services would be free*.

*8. We will think that by now Boko Haram will be a thing of the past*.

*9. We will think that by now all corrupt leaders will be in jail*.

*10. We will think that by now Electricity will be 24/7*

*11. We think that by now Nigeria will be the Greatest and strongest Economy in the world*.

*12. We will think by now a bag of rice will be N5000 with a boom in Agriculture*.

*13. We will think by now Nigeria would have recovered all looted funds*.

*14. We will think by now Nnamdi Kanu would have declared Independent State of Biafra*.

*15. We will think that by now Nigeria would have gotten 3 standard working Refinery*.

*16. We will think that by now Nigeria would have stopped importation of fuel*.

*17. We will think by now office of the First Lady will no longer exist*.

*18. We will think by now National Assembly salary would have been cut down to 50%*.

*19. We will think that by now 720,000 jobs by the 36 states in the federation yearly (20,000 per state) would have been created*.

*20. We will think that by now there would be permanent peace in the Niger Delta*.

*21. We will think that by now Chibok girls would have been rescued*.

*22. We will think that by now the government would have started creating additional middle-class of at least two million new home owners in the first year in government and one million annually thereafter*.

*23. By now everybody will be blaming Goodluck Jonathan and calling him clueless*.

*The list is almost endless..."*

*This is Nigeria of 2016*

*The Minister of Agriculture studied French*

*The Minister of Education studied Accounting*

*The Minister of Solid Minerals studied International relations*

*The Minister of Power studied Law*

*The Minister of Communications studied Law*

*The Minister of Transport studied English*.

*Minister of Labour and Employment studied Surgery*


*Minister of Budget and national planning studied law*

*Minister of Foreign Affairs studied Medicine*

*Minister of Petroleum studied Law*

*IGP studied Agriculture*

*I didn't say anything ooo but I hope u know why our economy is on recess*.

*THANKS*

No offence to anybody but this is one of the most sensible post on Nairaland, 2,000,000 likes for this post.

PaulIdu:


I see you intend to fool yourself and fool yourself deeply at that ..Good day

it seems you don't have a brain to think ... Before the said policy would be initiated emiefele must have had a meeting with FG .. Which means he is fully aware of the policy .. You guys want to heap all the blames on FG ... Both the FG and CBN has been initiating ridiculous economic policies

mrjojo:
Btc is the answer, get a visa card linked to your btc account and you are invisible, who still rely on Nigeria economy? With my btc powered card, if I like I spend 1billiin,it my f. ucking money.

Bro, please can you give more details on how to do this. Thank you

this the worst autocratic dictatorship we have ever had in Nigeria. i regretted ever supporting Buharis government. He is the most inefficient president we have ever had. how can you go back to your vomit. a policy that brought us into trouble in the first place. you will see people taking dollars to overseas to open account where they can spend their money freely. I don't know the objective of this than plunging us further into depression. useless CBN.

Emefele n his team,Buhari and his team r the worst set of Nigerians to pilot this country,r they not tired of inflicting pain on people n business?

smilinguy:


Bro, please can you give more details on how to do this. Thank you

pm bros

virginboy1:
WHY AM HAPPY THAT MUHAMMADU BUHARI IS THE PRESIDENT*!!!

*...ODIDERE A....*

*Today, I want to take time and thank GOD for making Buhari the president of this country*.

*At first, I did not understand why GOD allowed it to happen. But now I know and I HAVE SEEN reasons why we should accept his Presidency*.

*Had it been Buhari did not become President*:

*1. We will think that by now fuel will be #45 per litre*.

*2. We will think that by now #1 will be equal to $1*.

*3. We will think that by now three million jobs would have been created*.

*4. We will think that by now unemployed youths would have been receiving #5,000.00 stipends*.

*5. We will think that by now pupils would have been getting at least a meal(including fruits) in school*.

*6. We will think that by now Buhari would have made his assets and liabilities public*.

*7. We will think that by now maternal and children healthcare services would be free*.

*8. We will think that by now Boko Haram will be a thing of the past*.

*9. We will think that by now all corrupt leaders will be in jail*.

*10. We will think that by now Electricity will be 24/7*

*11. We think that by now Nigeria will be the Greatest and strongest Economy in the world*.

*12. We will think by now a bag of rice will be N5000 with a boom in Agriculture*.

*13. We will think by now Nigeria would have recovered all looted funds*.

*14. We will think by now Nnamdi Kanu would have declared Independent State of Biafra*.

*15. We will think that by now Nigeria would have gotten 3 standard working Refinery*.

*16. We will think that by now Nigeria would have stopped importation of fuel*.

*17. We will think by now office of the First Lady will no longer exist*.

*18. We will think by now National Assembly salary would have been cut down to 50%*.

*19. We will think that by now 720,000 jobs by the 36 states in the federation yearly (20,000 per state) would have been created*.

*20. We will think that by now there would be permanent peace in the Niger Delta*.

*21. We will think that by now Chibok girls would have been rescued*.

*22. We will think that by now the government would have started creating additional middle-class of at least two million new home owners in the first year in government and one million annually thereafter*.

*23. By now everybody will be blaming Goodluck Jonathan and calling him clueless*.

*The list is almost endless..."*

*This is Nigeria of 2016*

*The Minister of Agriculture studied French*

*The Minister of Education studied Accounting*

*The Minister of Solid Minerals studied International relations*

*The Minister of Power studied Law*

*The Minister of Communications studied Law*

*The Minister of Transport studied English*.

*Minister of Labour and Employment studied Surgery*


*Minister of Budget and national planning studied law*

*Minister of Foreign Affairs studied Medicine*

*Minister of Petroleum studied Law*

*IGP studied Agriculture*

*I didn't say anything ooo but I hope u know why our economy is on recess*.

*THANKS*

U re myopic & narrow-minded. Kachucku was brought frm mobil oil & Ogbe was a commercial farmer. So they had practical xperience. So shut up man.

Why is 2019 crawling na?

Plz house, what are the charges for running Dom account and how much to open one.

Hope15:
Why is 2019 crawling na?

Whether crawling ,jumping or flying ,apc will retain power in 2019 ,Nigerians are in for a long journey.

my friends move on to cryptocurrency .Bitcoin.


bt wat really is the advantage of this new policy

NATIONALPASTOR:
Do they mean foreign transfers to dorm account or just withdrawal?

Withdrawal or Transfer maximum limit is $10,000 per month.
In other words, you'll not use more than $10,000 per month.

So CBN is now detecting how much of my own money I can spend in a month?
F*uck you CBN!!

CBN has turned out to be the most confused and clueless in recent times

zaimeg:
And you expect any serious minded investors to bring their hard earned dollars? Unfortunately, Nigeria is in this mess until 2023. Policy somersaults everyday. Anyone who has the opportunity to travel out should do so fast.

While I have criticised the govt's policies on forex, this one makes sense. It says you can't fund your dom account from the black market i.e CASH and then transfer it out. The restriction is on what you can do with your CASH deposits, i.e if the money in your dom account was paid in by cash.

It would imply that if your forex was sourced abroad, you are free to do what you want with it.

It basically stops people from running to BDCs to turn their Naira to $

If Yorubas or igbos don't kill this fool called buhari, I'm sure one of these aboki running bureaude change will kill him

DedeNkem:


Withdrawal or Transfer maximum limit is $10,000 per month.
In other words, you'll not use more than $10,000 per month.

Exactly. They were just twisting words ..th