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Nairaland Forum / Nairaland / General / Business / Dollar Rate: Banks Are Charging Higher (621 Views)
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Dollar Rate: Banks Are Charging Higher by StPete: 1:35pm On Aug 04, 2015 |
It is quite worrisome and alarming that even though the official CBN rate for naira to dollar conversion is N197 to $1, most banks are charging far exorbitant rates than the prescribed rate even higher than the black markets. I made a transaction on my GTBank account online and as at last week, they charged roughly N218 to $1. Today, I decided to try FCMB after getting dollar at the parallel market for N220. I was shocked to find out that I was charged almost N227 to $1. Haba, this is daylight robbery. Isn’t their any forms of checking the excesses of these banks. I mean, they have refused to accept dollars into domicilliary accounts, now they are charging far higher than the prescribed rate. I call on the CBN and EFCC to check the excesses of these banks. cc: Lalasticlala, FOD, naijacutee |
Re: Dollar Rate: Banks Are Charging Higher by idolda: 1:47pm On Aug 04, 2015 |
OK we don hear you we go look into the matter. 1 Like |
Re: Dollar Rate: Banks Are Charging Higher by peadel20(m): 5:47am On Jan 05, 2016 |
You are correct about this issue. I ordered for something that should not be more than 60,000 naira but I ended up paying over 80,000. Critical anyway. |
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