Does any one know if DOM a/c holders will be affected by the CBN cashless policy.

Ill-timed plan. Make Nigeria fully automated or set-up cashless payment systems prior to engaging in a draconia rule.
Good idea, but bad timing!

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how many houses fashola build for poor masses

it will be another rule for that type of acct.

My advice would that you contact the bank that you have a domiciliary account with and submit all your FAQs to them.They would be in the best position to provide the answers that you seek.

This said, I can say that even before this policy , there has always been a 'limit' to the number of transactions you can consummate, periodically on on cash dom. account in terms of 'volume and value' for money laundering reasons

This guys amazes me !! The ATM machines in front of banks are not even safe from fraudsters yet , now they will want us to carry our cards to shops , What security measures have been put in place so I don't lose my money. All that is needed for a thief to rob you now is an internet connection "Logon and transfer your money or lose your life !!!" . Naija style of putting the cart before the horse .

Same policy govern all transaction.

Desert01:

This guys amazes me !! The ATM machines in front of banks are not even safe from fraudsters yet , now they will want us to carry our cards to shops , What security measures have been put in place so I don't lose my money. All that is needed for a thief to rob you now is an internet connection "Logon and transfer your money or lose your life !!!" . Naija style of putting the cart before the horse .

What is the security measure in place for the cash you are presently carrying to shops ?

D policy said dt once u withdraw more dn 150k, u wil be charged cash handling charge. I don't think d policy can affect dom accts cos most banks charge u for any withdrawl in dom accts

the policy did not state categorically about domiciliary account.

oknee:

D policy said dt once u withdraw more dn 150k, u wil be charged cash handling charge. I don't think d policy can affect dom accts cos most banks charge u for any withdrawl in dom accts

I think u are spot on.

Domiciliary accounts are in foreign currencies. The directive was very clear. It is the withdrawals above N150,000 that are affected.

my hard earn MONEY my money,

I think by this policy sanusi is proving he is operating from different wave length with the reality of the NIGERIAN situation.Nigeria is just not ripe with this kind of a ting, even the most advanced economy in the world the usa has experienced an upsurge in card fraud inspite of her high technology

This is really a bad timing to effect that policy.

Bfine:

Does any one know if DOM a/c holders will be affected by the CBN cashless policy.

based solely on the phrasing of the policy, its supposed to be an integrated thing. the sum of all your daily cash transaction (emphasis on CASH) in any single bank must not exceed 150k. so if you decide to collect FX from your dom account and also plan on withdrawing from your savings account,it will all count

Sagewood:

Ill-timed plan. Make Nigeria fully automated or set-up cashless payment systems prior to engaging in a draconia rule.
Good idea, but bad timing!

who is going to make nigeria fully automated? without this policy, what is the incentive for an average business to make POS terminal available for their customers to use? think about that

Desert01:

This guys amazes me !! The ATM machines in front of banks are not even safe from fraudsters yet , now they will want us to carry our cards to shops , What security measures have been put in place so I don't lose my money. All that is needed for a thief to rob you now is an internet connection "Logon and transfer your money or lose your life !!!" . Naija style of putting the cart before the horse .

so you think carrying your cash in your pocket is much safer than using electronic banking?

if a thief comes to your house and collects your cash, you think its easier to track him as opposed to tracking the movt of electronic money when he tells you to transfer your money online to an account that is named in a bank?