Hello People,

Please can someone tell me what our local banking policies are, on receiving money as dollars from PayPal, and other external foreign settlement companies. The local resistance to Ponzi schemes such as MMM, is the only local regulation against such schemes and crypto currencies such as bitcoin and others, that I know about.

I heard you can no longer withdraw money in Nigeria using your Payoneer card. How true is this? (Payoneer card connects to Skrill; and you receive money through Skrill into your local account)
Secondly, PayPal insists that it is our local financial regulations that they have to abide with, and that's is why you cannot receive money directly to Nigeria. I sent them an email, and this was their response:

We truly appreciate your interest in using the PayPal service to receive money and I am happy to know about the improvements on your banking system. At this time, the receive money service is still unavailable in Nigeria due to our compliance with your local financial regulations. We also want PayPal members from Nigeria to be able to use our system to receive and withdraw money because it will be beneficial to our business as well. However, I hope you understand that we need to comply with your local financial regulations in order to continue providing online payment service in your country. Let me assure you though that we will contact you as soon as new services/features become available so that you could use them right away. We appreciate your patience and understanding.

So, is it PayPal that is not ready to do business, or are there local regulations that are prohibitive, or that are not in line with global best practice?

I just want to ask questions here, before I do some research, in the hope that someone knows what is going on, and can help me out. I would rather suggest, we take our destiny into our own hands and mobilize to get things done in our Country, rather than hosting protests that would not benefit the average person.

Mynd come ooo

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