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Nairaland Forum / Nairaland / General / Business / Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits (25118 Views)
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Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by FreeStuffsNG: 2:40pm On Aug 22, 2023 |
Leaked CBN letter to a bank reinvokes 2015 circular banning Naira overdrafts secured by foreign currency deposits https://nairametrics.com/2023/08/22/cbn-directive-bans-naira-overdrafts-secured-by-foreign-currency-deposits/ 15 Likes 5 Shares
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Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by FreeStuffsNG: 2:40pm On Aug 22, 2023 |
It is getting hotter as CBN goes after forex speculators and speculation to burn them more. It's no brainer that the banks are at the centre of the forex speculation and even their collaborators within CBN itself must not be spared. These unpatriotic people were using USD as collateral to take loans in naira and then use the naira loans to buy USD, thereby pressuring the FX market! SLS has been screaming about this unpatriotic malfeasance for years and now is the best time to get them to answer for the crime. Check my signature for free stuffs! 106 Likes 7 Shares |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Jackson619007: 2:42pm On Aug 22, 2023 |
Just the beginning. 2 Likes 1 Share |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by TemplarLandry: 2:43pm On Aug 22, 2023 |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by HeartlessMan: 2:50pm On Aug 22, 2023 |
Every week a new policy yet Naira keeps rising. Ebola Tinubu is a clueless government. I now believe the man never attended school. 87 Likes 4 Shares
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Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Cosbyrich: 2:56pm On Aug 22, 2023 |
HeartlessMan:Ipob soliloquizing.. 97 Likes 6 Shares |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Prince111111: 2:57pm On Aug 22, 2023 |
HeartlessMan:there is no need to even contest that fact anymore. 25 Likes |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by EconomistXplain: 3:06pm On Aug 22, 2023 |
i like this policy 13 Likes 1 Share |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by inoki247: 3:18pm On Aug 22, 2023 |
Lol na Everyday UBA dey advertise to me mak I use my Dorm du Collateral.... U want to use my Dollar take give me forceful Naira 10 Likes |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by gaby(m): 3:18pm On Aug 22, 2023 |
Comics.. And this is supposed to bolster my confidence to bring in my foreign currency assuming I have any to come to invest in this contraption? Is this how to boost investor confidence? Meanwhile, the thieving politicians and policymakers all have their loot saved up in hard currencies from where they change a few notes to naira to continue to buy the support of their hungry praise singers. Why should anyone believe that these same demons will work towards short-changing or making themselves any poorer by making the Naira win against their coveted Dollar? This is simple logic. Where are we going here? If I be Atiku or Obi, I go just kukuma comot hand for this Nigeria matter as e be now because however, it will swing, na original setup for disaster e go be for whoever will continue to Preside. Imagine a Nigeria whose treasury would have been supervised by BAT and then maybe Akpabio as a substantive President until a new election is ordered. Just imagine this for a second my fellow Nigerians. Where are we truly headed? 26 Likes 1 Share |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by 43Ronin: 3:18pm On Aug 22, 2023 |
dangote that was getting free dollars nko? let them start from there 8 Likes 2 Shares |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by T2Justman(m): 3:18pm On Aug 22, 2023 |
D |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by davidodiba(m): 3:18pm On Aug 22, 2023 |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by yang(m): 3:20pm On Aug 22, 2023 |
The dumbest central bank in the world Every month they print trillions of naira from thin air into existence and turn around to blame every body else for their incompetence They are inching closer to to ban FX withdrawals over the counter from diaspora remittance They should watch the Naira trade at 2000 per dollar if they try it There is a reason Bitcoin ETH XRP is seeing massive trading volumes every day, to escape normal people from evil kleptocrats like Thiefiinubu Buhari and APC You are a bastard if you support this evil government and may thunder fire you if you think you have right to determine to someone whose family abroad sends FX how they should use and exchange their Hard gotten money May the evil that you have brought upon people by electing Thiefiinubu and Buhari follow you and your family for ever 23 Likes |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Omoawoke: 3:20pm On Aug 22, 2023 |
FreeStuffsNG: The extent people will go to get rich and destroy the economy 8 Likes |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Nazgul: 3:20pm On Aug 22, 2023 |
All these policies keeps suffocating the naira. During Jonathon's era, naira to Dollar equivalent was less than N200, yet BDCs were operating freely, people with dorm accounts weren't waking up to meet new policy emails, getting dollar was as easy as walking to an ATM to withdraw naira. If corruption continues, all these policies would still yield no result. 15 Likes 1 Share |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Brendaniel: 3:21pm On Aug 22, 2023 |
And the trial and error continues.... 1 Like |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Johnson5258: 3:22pm On Aug 22, 2023 |
Alot of shady deals in Nigeria 3 Likes |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by ehikwe22: 3:22pm On Aug 22, 2023 |
FreeStuffsNG:Continue deceiving yourself 5 Likes |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Helpfromabove1(m): 3:24pm On Aug 22, 2023 |
This is a very good one U keep your dollars in your dorm account and still putting pressure on the naira , so the Naira losses value and your dollars gains value A lot of shady practices goes on in the banking system just for selfish gain as against the interest of the nation (naira) If you want naira loan use naira collateral (use your fix deposit that is in naira) and vice versa 13 Likes 1 Share |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by mbahfrankuc(m): 3:25pm On Aug 22, 2023 |
Naira sorry oooo |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by liamjakes247: 3:25pm On Aug 22, 2023 |
I told my colleagues that year that since aisha took lead over the forex market, there will be unbalances on both international and local market. With time I know a lot will be digged out and Nigeria will regain her wealth again 3 Likes 1 Share |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Macdeey: 3:25pm On Aug 22, 2023 |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Streetdoctor: 3:28pm On Aug 22, 2023 |
This is not what Nigerians wants to hear at dis point in time. All Nigerians are after is how to move d economy forward bcs as it stand right now, Ebola Tinubu is totally out of ideals if not opening of border should hv being d first thing to do. Then having meetings with different farmers association should be d second, but what does he know, just to snif drug up and down 5 Likes |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Caspry5: 3:28pm On Aug 22, 2023 |
N |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by nairalanda1(m): 3:28pm On Aug 22, 2023 |
HeartlessMan: Ultimately, we need to earn more. That is the only way forward. Moves like this don't address the problem of earning. 3 Likes 1 Share |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Wealthoptulent(m): 3:29pm On Aug 22, 2023 |
oya gbe , ko ma lo di gbe gbe gbe! |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Streetdoctor: 3:29pm On Aug 22, 2023 |
HeartlessMan:hooy Bleep, u fucking crack my ribs 2 Likes |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by NaijaCover(m): 3:31pm On Aug 22, 2023 |
Nawa o |
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by chicfarmer: 3:34pm On Aug 22, 2023 |
TemplarLandry:Which music are you thinking of dedicating to CBN this time, eh? |
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