HardMirror:
I went to a Wema bank branch yesterday to withdraw from my Domicillary account, but i was told they have stopped giving dollars. I wanted to make transfer and they said that was also impossible.

Who else is facing this challenge?

Note i still was able to withdraw last week. Could this be from CBN?

HAH:
. Very soon savings in dollars will be banned, Physical Dollars cash may also be banned, Naira value is getting eroded because people now use dollars like is our local currency, when travelling abroad you will have to buy travellers cheque from your bank.

Soon all your FX in dorm account will be converted to Naira, there are over $20B dollars in dorm accounts, if this is converted to Naira dollar can be less than 200 Naira

remsonik:
Truth, they've stopped giving it. I was in a union Bank head branch in ibadan two weeks ago and I asked to withdraw dollars too, instead they asked me to go to bureau de change to withdraw it that they don't have. I wonder why I keep a dollar account sef this days

QuoteJustOnce:


I dont get what you mean by "transfer on USD card". why not initiate a SWIFT payment?

HardMirror:
hmmm this is serious, and some nigerians are supporting this madness just look at the comments some people are making here?

Betboss:
In Abuja here I have to go to 4-5 branches before I can get dollars.

For the dumbos shouting economic sabotage, understand that no one wants to collect USD only to exchange at BDC.

BDC rate is what controls the economy. People import and sell at BDC rate. So why on earth would I loss half of my USD value just to please the government.

If govt can make BDC rate 450, then no one will want to collect USD again. But ironically, same govt needs dollar bills for import duties.

Worse case scenario, I send my money to crypto platforms and exchange with BTC. I cannot loose my money because the govt wants it.

Kobonaire234:


Actually, we haven't generated extra money...except via 1) removing subsides partially 2) taking loans.

Want to generate more money now...remove subsides completely on petrol and power, money flows in a la investment in both sectors and both sectors get strong enough to power our industrial sector...to produce exportable goods and services.

lapazi:


I think we as Nigerians in our innate nature are mostly good pple until proven otherwise.
Or do you think we are more of bad pple who are only conforming to societal norms because of factors like religion/culture etc.
Deep questions running through my mind.

LegacyB:

So scarcity should not be absurd then . You can’t eat your cake and have it.

HardMirror:
hmmm. Seems this issue is state based. Because some people are complaining about the same union bank. I think i know what to do at this point. Thanks

Hightser:


How do you use usdt? And does UBA allow you to transfer to geepay?

HardMirror:
I went to a Wema bank branch yesterday to withdraw from my Domicillary account, but i was told they have stopped giving dollars. I wanted to make transfer and they said that was also impossible.

Who else is facing this challenge?

Note i still was able to withdraw last week. Could this be from CBN?

HardMirror:
I went to a Wema bank branch yesterday to withdraw from my Domicillary account, but i was told they have stopped giving dollars. I wanted to make transfer and they said that was also impossible.

Who else is facing this challenge?

Note i still was able to withdraw last week. Could this be from CBN?

Hightser:


How can you send to crypto sites? Can the dorm dollar card buy crypto?

ObongIdeas:

I still withdrew 50USD yesterday in UBA

ObongIdeas:

I still withdrew 50USD yesterday in UBA

Betboss:


It's because it's $50, try withdrawing $1k and above

sihamey:


Bank can only tell you they don’t have dollar to pay not that they have stop paying dollar .
I had same experience, to withdraw from my dollar account with Ecobank they always tell me no dollar. Two weeks ago i visited 3 different branches same thing and I needed this money urgently. I told myself the fourth branch I will visit they must pay me I got there same story I begin reck, the branch manager called me and ask how much do you need ? That’s how I got paid . They have this money but hide it or keep it for some customers. You need to open eye to collect your money

Betboss:


It's because it's $50, try withdrawing $1k and above

sihamey:


Bank can only tell you they don’t have dollar to pay not that they have stop paying dollar .
I had same experience, to withdraw from my dollar account with Ecobank they always tell me no dollar. Two weeks ago i visited 3 different branches same thing and I needed this money urgently. I told myself the fourth branch I will visit they must pay me I got there same story I begin reck, the branch manager called me and ask how much do you need ? That’s how I got paid . They have this money but hide it or keep it for some customers. You need to open eye to collect your money

HardMirror:
baba are u using wema bank? Abi u want me to send u screenshot? Wema dollar card had been down for over 2 weeks now. I have to go to the bank for transactions and right now they are saying they cannot do it. And no withdrawal over the counter. Abeg dont tell me about a problem i am passing through.
I just want to know if other banks have this problem i dont need you to tell me what my own bank is doing.

Ayomipoe:
I think it’s primarily your source of USD that determines which approach is best for you.
Once the USD is in your local dom account, the only way to extract it will be to go through all the stress or use SWIFT or use the card on TransferWISE.
I received my funds primarily from Freelance websites, so Payoneer -> USDT via Paxful has been my go to approach, otherwise when GeegPay rates are good and I don’t mind waiting for 24 hours, then I use them.
Wish you the best, also don’t shy from experimenting, Grey.co, Crypto.com, there are platforms that give you access to European/ American banking info, however like I said, it depends on your source of funds.

Betboss:


I haven't given this a try, though I read somewhere that you can transfer from your TransferWise account to crypto.com . You cam then use the money to buy usdt or btc and exchange via pair to pair.

If its possible to use my dollar card to buy crypto, then that will be the absolute best.

I will try buying btc on binnance with my uba prepaid card and see what happens

Parachoko:
What are you talking about? Do you know what non-oil revenue even mean?

Ayomipoe:
I fear this too. Hence my reluctance to save in my DOM account.
OP, the major problem is scarcity and maybe because you don't know someone. UBA does not allow me to transfer USD with my app, so I have to physically go to the bank to withdraw (This is a nightmare, I assure you). I heard Access and GTB allow you to transfer with the app.
What happens when I still used to go to the bank was that I would collect a recipient's account that used UBA as me, and then the FX guy would debit me and credit the guy. However, I noticed something weird. He would always cancel the sender name that I wrote as mine and write "self".
Now, I use Geegpay and USDT.

Ayomipoe:
I think it’s primarily your source of USD that determines which approach is best for you.
Once the USD is in your local dom account, the only way to extract it will be to go through all the stress or use SWIFT or use the card on TransferWISE.
I received my funds primarily from Freelance websites, so Payoneer -> USDT via Paxful has been my go to approach, otherwise when GeegPay rates are good and I don’t mind waiting for 24 hours, then I use them.
Wish you the best, also don’t shy from experimenting, Grey.co, Crypto.com, there are platforms that give you access to European/ American banking info, however like I said, it depends on your source of funds.

Hightser:


Can you use the dorm card to buy crypto online?

excellgraphics:
stop fake claims I withdraw from my domicilary last month from uba Nigeria and fake rumors nonsense

Ayomipoe:
To be honest, i don’t know if you are being intentionally naive or you just want to be adamant about this point you are making and refuse to see where the problem lies.
The problem is demand and supply, low supply equals high demand and prices.
The idea that scarcity should not then be absurd is honestly a petty, tantrum-like notion. Humans will continually evolve and seek better arbitrage where there is one to be gained. It will be when you wish you buy power bank 10000mah and you hear the price at 20,000NGN for a used one and you say the merchant is a thief, remember lack of electricity should not be absurd sir. Have a fine day.

Betboss:


I haven't given this a try, though I read somewhere that you can transfer from your TransferWise account to crypto.com . You cam then use the money to buy usdt or btc and exchange via pair to pair.

If its possible to use my dollar card to buy crypto, then that will be the absolute best.

I will try buying btc on binnance with my uba prepaid card and see what happens