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Nairaland Forum / Nairaland / General / Business / CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad (27376 Views)
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Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by wadetaw202: 9:20am On Dec 28, 2015 |
brunofarad: Whatever! Just learn to read before you comment next time. Commenting without reading speaks volume about your kind of person. 1 Like |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by brunofarad(m): 9:22am On Dec 28, 2015 |
You ve been noticed NEXT......... wadetaw202: |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by PassingShot(m): 9:39am On Dec 28, 2015 |
modath:And you too. What type of injury am I prone to? I was going to ask you but forgot. 1 Like |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by Rolings: 9:40am On Dec 28, 2015 |
Ghandi12: Banks and registered BDCs 1 Like |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by Ghandi12: 9:49am On Dec 28, 2015 |
Rolings: Could you please give us a bank name and address where dollars for essential services (that are only possible in $) can be sourced. The true reality on the streets is that there has not been $ for common-man in any banks in the last couple of months. Your information on its availability will be appreciated by thousands out there. 3 Likes |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by cutetopsey(f): 9:55am On Dec 28, 2015 |
Hmmmm! |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by francizy(m): 9:57am On Dec 28, 2015 |
When Buharinomics meets Emefielenomics, economic disaster is imminent 6 Likes 4 Shares |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by Proudlyngwa(m): 9:59am On Dec 28, 2015 |
If this sacrifice is sure to ensure better economy in due time, is it so much to ask. And yes this situation was caused by the last administration. 4 Likes |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by omohayek: 9:59am On Dec 28, 2015 |
There's no finer way of putting it: the CBN's forex policies are economically insane. Instead of allowing the Naira to float and settle at its true value, thereby ensuring that the dollars available are efficiently allocated where most needed, we get this ridiculous pretence at a "defence" of the Naira's value by making it almost impossible to exchange it for dollars. What is the point of a 200-to-1 exchange rate when no ordinary person or company can actually utilize that rate? Just so the uninformed can cheer at the mirage of a "strong" Naira? Emefiele is either utterly incompetent or a craven careerist who puts pleasing Buhari above the welfare of the nation at large. His draconian policies are strangling the economy, making life unbearable for nearly all firms which require any sorts of foreign inputs in their operations. 11 Likes |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by miqos02(m): 9:59am On Dec 28, 2015 |
hmm |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by Nobody: 10:00am On Dec 28, 2015 |
Too bad...Godwin must GO - Can someone explain the procedure for someone requiring tuition overseas. By overseas I mean outside the borders of Nigeria eg. Ghana, South Africa, Kenya or Algeria among others. This is the current procedure... - Approach your bank with relevant documents eg admission letter, medicals others. - Complete Form A - Await decision from CBN - If positive, deductions are made and remitted to host institution - If declined, what are the options for the student? With this submission from CBN, what is the implication? 4 Likes |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by nigeriancuban: 10:01am On Dec 28, 2015 |
better,at least to control the glow of our little off shore |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by honvalid(m): 10:07am On Dec 28, 2015 |
Hun ok oo.Do u know dat one day we may hear news dat people can no longer withdraw their money till further notice.The situation of this nation is amazing me. |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by feaworaoja007: 10:07am On Dec 28, 2015 |
Hmmmm...does it mean this a bad time to study abroad? Even when one is personally set to take theiir career and future to the next level? Bubu, if this is ur plan to tie me down here,it wont work! God works in 1daful ways,they must reverse it, and a solution will arise to see me tru! Dts why i neva wanted to be a part of this change! 1 Like |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by canalily(m): 10:08am On Dec 28, 2015 |
Please who is CBN where can i find him abroad let me tell him the damages he is causing here 1 Like |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by honvalid(m): 10:08am On Dec 28, 2015 |
honvalid: |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by drss(m): 10:08am On Dec 28, 2015 |
PassingShot:tell buari to return his share of $300,000 loot he got from dasuki. 8 Likes |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by Nobody: 10:08am On Dec 28, 2015 |
TonyeBarcanista:Just a few Nigerians in diaspora, mostly students. Worldremit is still available for transfer of funds from anywhere in the world to Nigeria. |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by bbjummy: 10:09am On Dec 28, 2015 |
pendusky:Bros that your fuel per litre cheap o, cos for my side na 4h o. 2 Likes |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by Dee60: 10:10am On Dec 28, 2015 |
You want to put Naira in your account in Nigeria and withdraw dollars freely abroad! Where would Nigeria have all the dollars to fund that. with the oil price fallen to by more than 60? Does it occur to anyone that allowining free withdrawal (dollar against naira) will result in huge dollar debt for Nigeria over time? Is there not an avenue for students to have their fees transferred officially instead of via ATMs? The protesters need to push their argument clearly. Otherwise, it is simple commonsense that you cannot dollarise your economy, unless you want to pile up debt for future generations. Common sense. If we had saved forex when oil was USD100 plus, it would have helped a bit. But with dwindling reserve CBN has to look for ways to curb DOLLAR consumption. We just cannot continue to CONSUME what we dont produce and expect FG or CBN to do magic. Please think before you talk. Read before you comment. Common sense says so.. 24 Likes 3 Shares |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by searay(m): 10:12am On Dec 28, 2015 |
Does this mean that I will not be able to use my visa card to make an order from aliepress.com, a Chinese online mall? |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by edjeodiri(m): 10:13am On Dec 28, 2015 |
These are difficult times for Nigerians indeed, even our brothers and sisters in diaspora are not exempted. I hope this policy works for the better good of Nigeria. 2 Likes |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by musicwriter(m): 10:14am On Dec 28, 2015 |
@Truth234. Check out this thread for latest news from the CBN. This's exactly what I was telling @Activa yesterday on your thread. .......smh how someone will come online and be talking what he/she don't understand. 1 Like |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by Nobody: 10:15am On Dec 28, 2015 |
Rather than plugging in the big cracks in the DAM PMB is sticking his fingers into little leaking holes.. it is amazing how the intellect of this country is insulted continually 5 Likes 3 Shares |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by AfroKnight: 10:15am On Dec 28, 2015 |
When Jona and his gang were looting, you people were praising him. You can all see the dividends. No foreign reserve to trade with! CBN has to leave us at the mercy of the banks now. Jona ran such a wasteful administration. What a hero. Thank God he's out. At least we can rebuild. 12 Likes |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by Coolcash1: 10:20am On Dec 28, 2015 |
Honestly, Nigerians need to appreciate the depth of the mess we are in as a country... The situation we are facing is not only perculiar to us as a country other oil producing countries are also experiencing same. The measure is a painful one but is a MUST if we don't want our economy to crash...the good news is, its a short term measure and would definitely be lifted when things improve economically.. I think it's still okay if this will help our banking sector from collapsing...I tell you majority of our banks even the so-called big ones are bleeding. Let's just show understanding and patience... 10 Likes |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by Infinitikoncept(m): 10:21am On Dec 28, 2015 |
PassingShot:I'm sure those comrades ain't part PDP, ACN,APGA etc now APC. All of them are thieves |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by Nobody: 10:21am On Dec 28, 2015 |
What happens to students that depend on stipends from home to pay their rents? Oh my! What happens to my physically challenge friend whose only valuable is his ATM? Emefiele and his one variable model for economic predictions. 1 Like |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by MrCEO69(m): 10:21am On Dec 28, 2015 |
Ghandi12: i too need to know oh.. |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by Rexphobia(m): 10:23am On Dec 28, 2015 |
Dee60: Can I quickly respond? Why do we have to defend the naira? Why can't the forces of demand and supply give us the true worth of the naira. Even if a free fall is the cost we have to pay for it. There are several things you need dollars for other than pay for school fees... A thousand and one services are paid for in dollars and we sure don't offer them here. Let's think about a saner way to battle this? The solution to all economic problems is not embedded in controlling the volume of money in circulation. You and I know that Please is CBN a regulator or spectator? Because I don't understand why the regulator is trying to distant itself from the draconian foreign exchange restriction? So the banks are now autonomous? . Silence is still golden. 8 Likes |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by BuddhaPalm(m): 10:24am On Dec 28, 2015 |
Rolings: You can pay them in tranches. Explain your special situation, they could listen. 2 Likes |
Re: CBN Insists It Won’t Reverse Restriction On Naira ATM Card Abroad by Nobody: 10:25am On Dec 28, 2015 |
Keneking:If declined you re-apply...again and again until it gets approved. Mine got declined twice before it was approved eventually. I assume it'll be much more difficult now 1 Like |
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