The economy of Nigeria is in dire need of foreign exchange, but there is a ban on receiving money from foreigners from other countries through western union.
Some time ago a German sent me some money through western union and when I got to the bank to collect it I was denied the money as they said foreigners can't send money to Nigerians.
The money now had to be refunded back to the German.
I think this does not add up for a country in need of foreign exchange.
I understand there may be dubious people misusing western union but there are still alot of genuine people that will like to make use of it.
Just my thought.

guobe:
The economy of Nigeria is in dire need of foreign exchange, but there is a ban on receiving money from foreigners from other countries through western union.
Some time ago a German sent me some money through western union and when I got to the bank to collect it I was denied the money as they said foreigners can't send money to Nigerians.
The money now had to be refunded back to the German.
I think this does not add up for a country in need of foreign exchange.
I understand there may be dubious people misusing western union but there are still alot of genuine people that will like to make use of it.
Just my thought.

Next time hold your yahoo yahoo brothers responsible. Anywhere you see them, kill them. Suffer not a witch to live. They are worse than witches.

The solution should be for your identity to be thoroughly ascertained before allowing you collect the western union transfer and possibly the option to confirm the sender isnt doing it out of force or coercion.
People have been paid to go after the bad ones among us and I see no reason why everyone should suffer including the inflow of forex into a whole country.

CodeTemplar:
The solution should be for your identity to be thoroughly ascertained before allowing you collect the western union transfer and possibly the option to confirm the sender isnt doing it out of force or coercion.
People have been paid to go after the bad ones among us and I see no reason why everyone should suffer including the inflow of forex into a whole country.

That should be the solution instead of an outright ban.

Zooposki:


Next time hold your yahoo yahoo brothers responsible. Anywhere you see them, kill them. Suffer not a witch to live. They are worse than witches.

So the good ones should suffer for what the bad ones did?does it make sense

FOREIGNERS CAN SEND ANY CURRENCY TO NIGERIA THROUGH WESTERN UNION BUT THE CURRENCY MUST BE CONVERTED TO NAIRA AT THE OFFICIAL RATE BEFORE PAYMENT.

Iamanoited:
FOREIGNERS CAN SEND ANY CURRENCY TO NIGERIA THROUGH WESTERN UNION BUT THE CURRENCY MUST BE CONVERTED TO NAIRA AT THE OFFICIAL RATE BEFORE PAYMENT.

They can't. I even called my banker friend today and he said the policy has not been reversed.

guobe:

They can't. I even called my banker friend today and he said the policy has not been reversed.

How recent was this so called policy instituted? Because I know for sure that a foreigner sent money to a Nigerian here as recently as one month ago.

hedonido:


How recent was this so called policy instituted? Because I know for sure that a foreigner sent money to a Nigerian here as recently as one month ago.

Was it first bank western union

guobe:

Was it first bank western union

Western Union is the same every where, Nothing like first bank western union,

You should have gone to another bank to cash it, I don't think there is no policy like that though it's over 5 months ago I made use of it

guobe:
The economy of Nigeria is in dire need of foreign exchange, but there is a ban on receiving money from foreigners from other countries through western union.
Some time ago a German sent me some money through western union and when I got to the bank to collect it I was denied the money as they said foreigners can't send money to Nigerians.
The money now had to be refunded back to the German.
I think this does not add up for a country in need of foreign exchange.
I understand there may be dubious people misusing western union but there are still alot of genuine people that will like to make use of it.
Just my thought.

As yahoo boys.
They have the answer

guobe:

So the good ones should suffer for what the bad ones did?does it make sense

Out of every 10 withdrawals from Western Union 7 are yahoo boys. Ask anyone who worked in a bank before the ban

hedonido:


How recent was this so called policy instituted? Because I know for sure that a foreigner sent money to a Nigerian here as recently as one month ago.

VIA western Union?

Government should instruct all banks to be paying Naira equivalent to dollar when receiving the likes of Western Union, money gram.

They are one of the factors putting unnecessary pressure on Naira as those who normally receive money through the likes of Western Union received dollar when picking the money

helinues:
Government should instruct all banks to be paying Naira when receiving the likes of Western Union, money gram.

They are one of the factors putting unnecessary pressure on Naira as those who normally receive money through the likes of Western Union received dollar when picking the money

No matter even if the government ban everything including your preferred barbing saloon where you steal swarve clippers to survive.

If you don't work you no go chop

Come and be useful now

Exousiang01:


Out of every 10 withdrawals from Western Union 7 are yahoo boys. Ask anyone who worked in a bank before the ban

wat happened to azamen,Nigeria is cast fr yahoo,Any cl u ask that bro by mention Nigeria e go cast

There are many alternatives to use.

Make he no try am steal for Aba or Onitsha, na tire, fuel and matches direct ohhh.... Wetin I Sabi sef. One less corn-fused bacterian ability to support clueless, incompetent leadership is a great national gain!

72virginGATEWAY:



No matter even if the government ban everything including your preferred barbing saloon where you steal swarve clippers to survive.

If you don't work you no go chop

Come and be useful now

There are many alternatives. They can buy Bigkoko Gift Cards, pay via PayPal and you cash back through our website. Chose whether you need local or foreign currency.

We only take 3.7%...... Watch our main website from 30th May for improved functionality!

fidelmarshal199:

Western Union is the same every where, Nothing like first bank western union,

You should have gone to another bank to cash it, I don't think there is no policy like that though it's over 5 months ago I made use of it

This policy has been in place for years now I think! I remember at least 5years ago when I went to pay for a course in UBA via WU and the way they looked at me when I said I wanted to do transaction via WU ehn. I had to explain my intentions that's when they said they don't do WU again, that there's a ban on it! This was me sending money o! I tried GTB that same day and got the same response. I am surprised that the policy is still in force.

Rebelutionary:

This policy has been in place for years now I think! I remember at least 5years ago when I went to pay for a course in UBA via WU and the way they looked at me when I said I wanted to do transaction via WU ehn. I had to explain my intentions that's when they said they don't do WU again, that there's a ban on it! This was me sending money o! I tried GTB that same day and got the same response. I am surprised that the policy is still in force.

It does not add up and they say they want foreign currency inflow to the country.
The people running the country need to put on their thinking cap.

Rebelutionary:

This policy has been in place for years now I think! I remember at least 5years ago when I went to pay for a course in UBA via WU and the way they looked at me when I said I wanted to do transaction via WU ehn. I had to explain my intentions that's when they said they don't do WU again, that there's a ban on it! This was me sending money o! I tried GTB that same day and got the same response. I am surprised that the policy is still in force.

5years ke... No oo , I still collected money through western union 3yrs ago and there was nothing like it ban then. The only issue most banks had then was the unavailability of small denomination of dollars. They claimed it's 100 dollar bill they had and it took me some days before they could get me smaller denominations.

helinues:
Government should instruct all banks to be paying Naira equivalent to dollar when receiving the likes of Western Union, money gram.

This policy change has been operational since February 2024. The Naira equivalent is credited into the account of the receiver at the prevailing NAFEM rate.

guobe:

It does not add up and they say they want foreign currency inflow to the country.
The people running the country need to put on their thinking cap.

Tell your contact to select Account Deposit and receive payout in Naira.

https://www.thecable.ng/money-transfer-operators-halt-inbound-fx-transactions-after-cbns-directive/amp/

aieromon:


Tell your contact to select Account Deposit and receive payout in Naira.

https://www.thecable.ng/money-transfer-operators-halt-inbound-fx-transactions-after-cbns-directive/amp/

Okay thanks

There are many alternatives to use.

guobe:

That should be the solution instead of an outright ban.

I had similar experience getting money sent to me via Western Union in April. I finally got the naira equivalent paid into my account using UBA. UBA is paying the naira equivalent though not all UBA branches

Beremx:
I had similar experience getting money sent to me via Western Union in April. I finally got the naira equivalent paid into my account using UBA. UBA is paying the naira equivalent though not all UBA branches

Okay thanks

Money sent from abroad is automatically converted to Naira and that's the way it should be.What are you doing with Dollar,Euro or Pound in Nigeria if not for speculatory activities?
Though I am not entirely sure what the Op posted is correct because know there are domiciliary accounts operated by many people and they are still active.