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Lists Of All The Cbn Forex Restrictions Since February 18th 2015 Till Date - Business - Nairaland

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Lists Of All The Cbn Forex Restrictions Since February 18th 2015 Till Date by anisalome(m): 3:05pm On Jan 10, 2016
It is a true statement that doctors kill only one person at a time but the economist can wipe out an entire nation through wrong economic policies. below are the list of all the policies made by CBN in order to stabilize our economy.

The first notable restriction was the closure of official foreign exchange market (Retail Dutch Auction) on February 18, 2015 which translated to further devaluation of the naira to N197 per dollar from N165 per dollar.

The second notable restriction was the Exclusion of 41 items from the official foreign exchange market.

Then, in August 2015, the CBN banned acceptance of foreign currency deposit into domiciliary accounts. In addition to the above, there was the reduction in the limit on usage of naira debit cards abroad. From $150,000 per annum the limit was pegged at $50,000 per annum per naira debit card. The daily cash withdrawal limit was pegged at $300 abroad.

During the year, the CBN banned banks from selling foreign exchange to the Bureau De Change (BDCs) while it revised the operating guidelines of BDCs, and in the process, banned any form of relationship of street hawkers of foreign currency (black market), and branch operations.

The last notable and biggest hit is the ban on the usage of naira credit and debit card abroad by banks. This is like the final one because the country and her citizens can never survive this.

My question is, are these policies worth it? for more information check my signature for my link or talkasset dot com
Re: Lists Of All The Cbn Forex Restrictions Since February 18th 2015 Till Date by Kirinwa: 3:08pm On Jan 10, 2016
Kk
Re: Lists Of All The Cbn Forex Restrictions Since February 18th 2015 Till Date by millhouse: 7:17am On Jan 11, 2016
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