Information reaching NAIRAUSD about new CBN directive over way to stop NAIRA from further depreciation against major currencies of the world.



1. No more transfer of DOLLAR from one bank account to another.
2. There is maximum amount of cash you can carry when travelling
From CBN directive you can't carry more than $4000 when moving out of the country. When you are caught, the money will be seized, then you be arrested. Be it for business, vacation, school etc. As of transfer out of the country, I can’t give the answer for that now.
3. When purchasing dollar from BDC operator within any part of the country. It shouldn’t be more than N210 to the Dollar.
4. Stop selling dollar to PARALLEL operator, when caught. You will explain yourself to the law.
5. There is much dollar in the market. So why keeping it , when CBN releases dollar twice a week on like before that is once a week.

This is important to everyone because it affect our daily activities. Don’t be misinformed by the greedy people who want to deceive you.

Another useful information

Be wise

We pray we don’t enter into another world recession as of 2009. What is happening in China now we pray it shouldn’t get out of hand.
Remember be wise

Source:http://www.nairausd.com/2015/08/information-about-new-cbn-directive.html?m=1

Twitter@nairausd

K

It's important to everyone please don't ignore it

WTF is wrong with CBN?

coolsix:
WTF is wrong with CBN?

Nothing wrong with CBN. It for our good

ifyan:


Nothing wrong with CBN. It for our good

We cannot deposit into Dorm Account.. We cannot Withdraw!

My families and friends Working and Schooling Abroad, i cannot send money to them via Bank Wire...

I cannot make payments to foreign companies and sellers via Bank Wire...

I cannot carry more than $4,000 Abroad.. I have dollar with me, i cannot sell to someone who need it when i dont need it.. i cannot deposit it

And you are telling me its for our own good?

Naira has just started falling..

Hmmm, I really don't understand the benefit of this policy in stabilizing Naira at the moment but on a 2nd thought, I think the Government & CBN is working hand in hand to discourage our dependency on Imported items, Oversea Schooling & Healthcare, etc. without resorting to Ban them outrightly. Anyway, thats Just my thoughts, I hope I'm proved otherwise in the coming days

coolsix:


We cannot deposit into Dorm Account.. We cannot Withdraw!

My families and friends Working and Schooling Abroad, i cannot send money to them via Bank Wire...

I cannot make payments to foreign companies and sellers via Bank Wire...

I cannot carry more than $4,000 Abroad.. I have dollar with me, i cannot sell to someone who need it when i dont need it.. i cannot deposit it

And you are telling me its for our own good?

Naira has just started falling..

You can wire as long as its not cash deposit, but u can send a mastercard to the person to draw from abroad.

modath:


You can wire as long as its not cash deposit, but u can send a mastercard to the person to draw from abroad.

Are you serious? Really? In the first place, where will i get the Dollar from if its not cash deposit? I have $0.00 USD and i need to send $2,000 USD to my sister in Cyprus how do i go about it? How will the money miraculously appear in my Dorm account to send to Cyprus?

I should send my own Master Card to another country for someone to deduct money are you serious at all? The money i will spend doing that and even risking my card and my finances. WTF?

CBN Regulations are frustrating and not helping at all.. Naira has not started falling..

coolsix:


Are you serious? Really? In the first place, where will i get the Dollar from if its not cash deposit? I have $0.00 USD and i need to send $2,000 USD to my sister in Cyprus how do i go about it? How will the money miraculously appear in my Dorm account to send to Cyprus?

I should send my own Master Card to another country for someone to deduct money are you serious at all? The money i will spend doing that and even risking my card and my finances. WTF?

CBN Regulations are frustrating and not helping at all.. Naira has not started falling..

I'm not kidding you, you open another account, get the card & send down to your sister, put in money whenever ahe needs and she draws... i know people who school abroad &do that..

Where are you based??

modath:



I'm not kidding you, you open another account, get the card & send down to your sister, put in money whenever ahe needs and she draws... i know people who school abroad &do that..

Where are you based??

Oga, i send money to more than 20 different people in different countries every week! I'm i now going to open account for each person and send card to each person?

There is $300 Naira Card Limit so if i open Naira Account and send the card, they cannot withdraw more than $300 what if they want more ?

We should accept that these policies are not helping at all not trying to make it ok!

coolsix:


Oga, i send money to more than 20 different people in different countries every week! I'm i now going to open account for each person and send card to each person?

There is $300 Naira Card Limit so if i open Naira Account and send the card, they cannot withdraw more than $300 what if they want more ?

We should accept that these policies are not helping at all not trying to make it ok!

I'm female, just returned from the US(birthing trip) under the same regime of 300$ limit and made it a must to go to the ATM everyday & was able to get about 7k in less than a month in addition to the 4k PTA...

The situation isn't ideal but there is always a way...

Wish you were in FCT, would have helped with your sis.

coolsix:


We cannot deposit into Dorm Account.. We cannot Withdraw!

My families and friends Working and Schooling Abroad, i cannot send money to them via Bank Wire...

I cannot make payments to foreign companies and sellers via Bank Wire...

I cannot carry more than $4,000 Abroad.. I have dollar with me, i cannot sell to someone who need it when i dont need it.. i cannot deposit it

And you are telling me its for our own good?

Naira has just started falling..

Mind you its temporary.
Who told you that NAIRA is falling against major currencies.

Don't be misinformed.

NAIRA is now N208 to the Dollar.
Plus dollar is falling to other currencies due to what currently happenin in China.

Lordtrillion:
Hmmm, I really don't understand the benefit of this policy in stabilizing Naira at the moment but on a 2nd thought, I think the Government & CBN is working hand in hand to discourage our dependency on Imported items, Oversea Schooling & Healthcare, etc. without resorting to Ban them outrightly. Anyway, thats Just my thoughts, I hope I'm proved otherwise in the coming days

Yes,you have a point. Remember nothing good comes easy.

Nigerians and it government are to blame for what policies that is been introduced by CBN.

Year of neglect plus over dependant on Crude Oil and lack of diversification. Is what we are facing

Nigerians let me say the simple truth,Face it while it last.
This is what we want. No one should be blamed.

Be wise Nigerians

modath:



I'm not kidding you, you open another account, get the card & send down to your sister, put in money whenever ahe needs and she draws... i know people who school abroad &do that..

Where are you based??

Please pass the message around.

ifyan:


Please pass the message around.

But this info is nowhere on the net but on this thread

modath:


But this info is nowhere on the net but on this thread

Ask any truthful BDC operator or anyone in bank that close to money exchange

Besides most information from CBN are not known to the general public neither will they post it in there website.

ifyan:


Ask any truthful BDC operator or anyone in bank that close to money exchange

Besides most information from CBN are not known to the general public neither will they post it in there website.

So how did the other info about FX limitations make it to their website & public domain

modath:


So how did the other info about FX limitations make it to their website & public domain

I don't know about that

ifyan:


Mind you its temporary.
Who told you that NAIRA is falling against major currencies.

Don't be misinformed.

NAIRA is now N208 to the Dollar.
Plus dollar is falling to other currencies due to what currently happenin in China.

how much is it when you use your card?

coolsix:


Oga, i send money to more than 20 different people in different countries every week! I'm i now going to open account for each person and send card to each person?

There is $300 Naira Card Limit so if i open Naira Account and send the card, they cannot withdraw more than $300 what if they want more ?

We should accept that these policies are not helping at all not trying to make it ok!

i believe they all had an account before they travelled, pay into their accounts and let them withdraw via POS or simply ask them to create a paypal account then send the money to their paypal account from Nigeria.

mavinc4u:


i believe they all had an account before they travelled, pay into their accounts and let them withdraw via POS or simply ask them to create a paypal account then send the money to their paypal account from Nigeria.

Is there any part that I mentioned them being Nigerians? These people are not Nigerians and have never been to Nigeria before.

I cannot ask them to create paypal accounts as the Contracts between their company and mine does not include PayPal

So again. .. the whole CBN thing Sucks.

So I just communicated with my bank.. I am able to Send FX payment to any other bank in Nigeria including my bank as long as the money was transferred to me not deposited.

So even this thread is

coolsix:
So I just communicated with my bank.. I am able to Send FX payment to any other bank in Nigeria including my bank as long as the money was transferred to me not deposited.

So even this thread is

I dey wonder too, misinformation tinz!

mavinc4u:


how much is it when you use your card?

I only have knowledge of BDC and PARALLEL operators.

But I not an operator.

modath:


I dey wonder too, misinformation tinz!

Please make more enquiries

coolsix:


We cannot deposit into Dorm Account.. We cannot Withdraw!

My families and friends Working and Schooling Abroad, i cannot send money to them via Bank Wire...

I cannot make payments to foreign companies and sellers via Bank Wire...

I cannot carry more than $4,000 Abroad.. I have dollar with me, i cannot sell to someone who need it when i dont need it.. i cannot deposit it

And you are telling me its for our own good?

Naira has just started falling..

Guy what are u doing with so much dollars, where did u get them from. Remember u are in Nigeria and the last time I checked, Nigerian legal tender is Nigerian Naira.

The question u need to ask is, how much was dollar rate to naira a year ago and how much is it today?

coolsix:
So I just communicated with my bank.. I am able to Send FX payment to any other bank in Nigeria including my bank as long as the money was transferred to me not deposited.

So even this thread is

But will you received it as dollar

ifyan:


But will you received it as dollar

Yes!

solid3:


Guy what are u doing with so much dollars, where did u get them from. Remember u are in Nigeria and the last time I checked, Nigerian legal tender is Nigerian Naira.

The question u need to ask is, how much was dollar rate to naira a year ago and how much is it today?

Boss, don't get me wrong, i dont have much dollars on my hand in fact, i really have none. My dollars are stored in banks.

I am only saying on a general level

Truth be told? Naira needs to be devalued

ifyan:


I only have knowledge of BDC and PARALLEL operators.

But I not an operator.

Banks charge 230 - 245 on international card transactions! In this view, Naira is no where appreciating irrespective of the little or no increase in the parallel rates.

coolsix:


Banks charge 230 - 245 on international card transactions! In this view, Naira is no where appreciating irrespective of the little or no increase in the parallel rates.

God bless you, the only bank with a responsible rate is stanbic @212, which is at par with black market.