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Banks In Dilemma Over Idle $5bn Deposits - Business (2) - Nairaland

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Re: Banks In Dilemma Over Idle $5bn Deposits by christinie(f): 9:19am On Aug 26, 2015
Importers and exporters, manufacturers, foreign students, honeymooning couples, holidaying families, tourists etc suffering because of this. Why crush the economy because you want to catch your fellow thieves? Why not use other methods to hunt them instead of paralysing the whole economy. When people were insisting on seeing certificates some of you were busy chanting "Sa!", now you see the outcome. Am so sorry for my country.

3 Likes

Re: Banks In Dilemma Over Idle $5bn Deposits by felajazz(m): 9:19am On Aug 26, 2015
Owo taabua!!
Re: Banks In Dilemma Over Idle $5bn Deposits by kestolove95(m): 9:22am On Aug 26, 2015
Dats change...people dey dash bank dia money dix days o...d bank shud return it to d govt
Re: Banks In Dilemma Over Idle $5bn Deposits by rusher14: 9:22am On Aug 26, 2015
These banks have a trillion Naira in their coffers yet refuse to lend.

2 Likes

Re: Banks In Dilemma Over Idle $5bn Deposits by texaco1: 9:24am On Aug 26, 2015
There is a huge business potential in all this
Re: Banks In Dilemma Over Idle $5bn Deposits by 989900: 9:24am On Aug 26, 2015
DaGC:
I feel sorry for the foreign students and international business enterprises.

Imagine needing to pay kids' school fees and business demands too.

It's been tough. I hope something is done soonest -- we have a situation -- actually a mess!
Re: Banks In Dilemma Over Idle $5bn Deposits by braine(m): 9:26am On Aug 26, 2015
HomoSapiien:
They should please give me atleast 5%


5% is even much. Let them give 0.05% sef, it will be too much.
Re: Banks In Dilemma Over Idle $5bn Deposits by DaGC(m): 9:26am On Aug 26, 2015
989900:


Imagine needing to pay kids' school fees and business demands too.

It's been tough. I hope something is done soonest -- we have a situation -- actually a mess!

Imagine traveling for business shopping only to be told your card maxed out at $300.
Re: Banks In Dilemma Over Idle $5bn Deposits by 989900: 9:26am On Aug 26, 2015
rusher14:
These banks have a trillion Naira in their coffers yet refuse to lend.

#crazy

The CBN is to blame for this.

How does an economy grow without access to credit in any tangible form?

1 Like

Re: Banks In Dilemma Over Idle $5bn Deposits by HomoSapiien: 9:28am On Aug 26, 2015
braine:


5% is even much. Let them give 0.05% sef, it will be too much.
Okay. Please help me tell them.
Re: Banks In Dilemma Over Idle $5bn Deposits by j4sure(m): 9:28am On Aug 26, 2015
NOTED
Re: Banks In Dilemma Over Idle $5bn Deposits by CoCoLav(f): 9:32am On Aug 26, 2015
Cc: Capricun
Re: Banks In Dilemma Over Idle $5bn Deposits by menxer: 9:34am On Aug 26, 2015
well, on the flip side, all those sending their wards to school overseas and neglect to upgrade or update our schools facilities and curricula will have a rethink sooner than later grin

1 Like

Re: Banks In Dilemma Over Idle $5bn Deposits by BuddhaPalm(m): 9:37am On Aug 26, 2015
...it was gathered, have their vaults full of dollars that they do not know how to dispose them.

Please your boy is here.

I can help you dispose of them sirs!
Re: Banks In Dilemma Over Idle $5bn Deposits by emekatimsu(m): 9:37am On Aug 26, 2015
So thats why i have not been able to use my Diamond bank ATM card to pay for $100 application fee in canada which i have always used for such transaction before now. But i thought they said it should not be more than $300 daily. Mine is just $100...i am in desperate need of solution.
Re: Banks In Dilemma Over Idle $5bn Deposits by kenny987(f): 9:41am On Aug 26, 2015
They are slowly but surely turning the economy into one big, comatose mess. It is insane to limit the Naira Mastercard value to $300/day. What can that achieve?

Close marking deposits and expenses are also very myopic. Imagine students living outside school accommodation being unable to access funds with which to pay rents. The school halls are usually more expensive yet we are giving them 'market' and limiting choices of individuals. Time will tell...
Imagine trying to pay rent of £500/month for instance, one would have to start withdrawing at least 5days before and all those punitive bank charges will apply on each withdrawal o! Hmm...ok na
Re: Banks In Dilemma Over Idle $5bn Deposits by erico2k2(m): 9:41am On Aug 26, 2015
rusher14:
These banks have a trillion Naira in their coffers yet refuse to lend.
You blind ni, them say Dollars cool cool
Re: Banks In Dilemma Over Idle $5bn Deposits by teejaykkr(m): 9:41am On Aug 26, 2015
Nigeria in first 100days of Buhari administration.


Good news about Buhari is now coming from NTA network

Reduction of politicians faces from news line all we see now are technocrats.

Stoppage of war drum from Niger delta war lords.

No more dangerous statements coming from our politicians.

Nigerians now look at Boko Haram as bunch of misled Nigerians who are now getting their ass kicked.

Refineries are now working.

Fuel importers are now begging,

Electricity is now at an average of 12 to 15hrs a day.

Ogoni is getting cleanup,

Policing is no longer for only the rich but the poor

Check points have now varnished.

Corrupt government officials are now retiring themselves.

While others are returning their loots voluntarily.

IGR is increasing and external reserve is also rising dramatically,

Now properties in Abuja are cheaper than in many other states.

Government and all agencies are now having a single account TSA.

Our greedy banks are no longer collecting dollars deposits.

Appointment is now based on merit.

Nigerian politicians show less interest to be appointed as ministers.

For over a month there was no statement coming from the first lady and the wife of the president is traveling on commercial flights.

All this is done without a minister, is all done by one man, one mind, one soul without the interference of others.

What will happen to Nigeria after ministers are appointed?

What a change!

What a great leader!!

Sai Baba.

3 Likes 1 Share

Re: Banks In Dilemma Over Idle $5bn Deposits by erico2k2(m): 9:43am On Aug 26, 2015
menxer:
well, on the flip side, all those sending their wards to school overseas and neglect to upgrade or update our schools facilities and curricula will have a rethink sooner than later grin
I smell jealousy if not what has this got to do with people sending their kids abroad to school??

1 Like 1 Share

Re: Banks In Dilemma Over Idle $5bn Deposits by rusher14: 9:43am On Aug 26, 2015
erico2k2:

You blind ni, them say Dollars cool cool

And when you convert 5 billion dollars to naira you have?
Re: Banks In Dilemma Over Idle $5bn Deposits by buJu234: 9:49am On Aug 26, 2015
Why do we have dollars scarcity?

(1) cos of low export from Nigeria
(2) cos of low oil prices
(3) cos the Banks are Hoarding the dollars for selfish reasons.

So cant EFCC arrest the banks for suffering the common man.
Re: Banks In Dilemma Over Idle $5bn Deposits by kenny987(f): 9:49am On Aug 26, 2015
menxer:
well, on the flip side, all those sending their wards to school overseas and neglect to upgrade or update our schools facilities and curricula will have a rethink sooner than later grin

The choice to send children abroad to study is just exactly that, choice! However, the Nigerian govt has a sworn duty to develop and sanitise the education system. If they fail to do that it is no fault of honest Nigerians who want their children to have different experiences. Instead the govt can and should direct that no ward of elected or appointed govt officials should school abroad. That's their prerogative.

Frustrating access to legitimate funds for business and other commitments is just wrong.

1 Like

Re: Banks In Dilemma Over Idle $5bn Deposits by dayodare49o: 9:59am On Aug 26, 2015
resty4:
Within konsy poor man in ds mata
I tire o ma brother. This issue is sundry, macro and for top class.

Anyway, it is good that the cbn is washing that nonsense currency out of our economy.

I want
Re: Banks In Dilemma Over Idle $5bn Deposits by erico2k2(m): 10:01am On Aug 26, 2015
rusher14:


And when you convert 5 billion dollars to naira you have?
Thats not the issue,Read well b4 commenting nor be by force,there is nothing or any policy on Naira spent or earned in Nigeria this has to do with spending abroad,U dey spend Naira abroad?? The bank has physical Dollars they cant sell this is what all this is all about, the cannot and will not convert it.They are in physical form Greenbacks grarrrith?

1 Like

Re: Banks In Dilemma Over Idle $5bn Deposits by repogirl(f): 10:03am On Aug 26, 2015
I dont understand...is this a bad thing? If so who should I blame? undecided
Re: Banks In Dilemma Over Idle $5bn Deposits by Rick9(m): 10:03am On Aug 26, 2015
Just give me $10,000 from the $5B I will make a fortune out of it
Re: Banks In Dilemma Over Idle $5bn Deposits by Nobody: 10:03am On Aug 26, 2015
They should invest it in power and make profit in Naira
Re: Banks In Dilemma Over Idle $5bn Deposits by Nobody: 10:03am On Aug 26, 2015
maybe they could give to exporters or something?
Re: Banks In Dilemma Over Idle $5bn Deposits by rusher14: 10:03am On Aug 26, 2015
erico2k2:

Thats not the issue,Read well b4 commenting nor be by force,there is nothing or any policy on Naira spent or earned in Nigeria this has to do with spending abroad,U dey spend Naira abroad?? The bank has physical Dollars they cant sell this is what all this is all about, the cannot and will not convert it.They are in physical form Greenbacks grarrrith?

Stop confusing yourself.

Banks have in their coffers the equivalent of 1 trillion naira which they are simply warehousing as we speak.

For me it means the same as having 1 trillion naira idling away.
Re: Banks In Dilemma Over Idle $5bn Deposits by Rick9(m): 10:04am On Aug 26, 2015
repogirl:
I dont understand...is this a bad thing? If so who should I blame?
Aunty Repogirl you are sighted still waiting for your continuation you know na.

1 Like

Re: Banks In Dilemma Over Idle $5bn Deposits by Goke7: 10:06am On Aug 26, 2015
christinie:
Importers and exporters, manufacturers, foreign students, honeymooning couples, holidaying families, tourists etc suffering because of this. Why crush the economy because you want to catch your fellow thieves? Why not use other methods to hunt them instead of paralysing the whole economy. When people were insisting on seeing certificates some of you were busy chanting "Sa!", now you see the outcome. Am so sorry for my country.

WAILERS ALERT! You have no choice, una wailing never start grin

1 Like

Re: Banks In Dilemma Over Idle $5bn Deposits by repogirl(f): 10:09am On Aug 26, 2015
Rick9:
Just give me $10,000 from the $5B I will make a fortune out of it
Rick9, have u voted for me? angry

http://mobilebookshelf.com/poll/

Read 'Betrayed by my body' by Peju Amadi and vote, thanks smiley

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