raker300:
The cbn policies is hurting the banks and the customers at the end.

But buhari doesn't seem to care. According to him, he says "tough luck"

What most people seem to forget is CBN can no longer fund these trxns.See when you use your card in overseas,at the end of the day,your bank takes the trxn to cbn to purchase dollars at official rate which will be used to pay the bank in which your atm was used...And u know cbn does not have much in foreign reserve again(a mere $29b) when ideally it shud be like $150b.
So to reduce further depletion,cbn instruct banks that we either give u dollars at black market or u stop the trxn temporarily.

Martins301:


Oga we have contacted PayPal several times about it and they said the issue is not with them that they were only allowed to operate partially by our government.

Hmm... I'm hearing this for the first time.

coolsix:


Lol

That is the mistake you guys are making. CBN DID NOT GIVE ANY DIRECTIVE THAT SAYS BANKS SHOULD RESTRICT CUSTOMER CARDS! The banks are acting on their own discretion or their own forex issues not CBN. My own bank sent me a mail just a few days ago(about 3 days) telling me that my monthly spending limit for USD on my naira card has INCREASED! If the bank has plan to join this restriction, i doubt that it would have sent its customers that email.

P.s i just finished with my bank phone customer care and they said they do not have plans to restrict!

What bank do you use?

david22uu:


which bank u dey use abeg

Gtb

YoursGEJ:
This is completely illegal. I'm spending my money not their own so who are they to tell me that I cannot use my own money?

The thunder wey go fire diamond bank dey chop 8 wraps of fufu for iya basira canteen. Them go gather for me and my bank manager today

It's not your money. Your money is in Naira not dollars. Spend it in Nigeria where Naira is used. It becomes their own when you spend it abroad.

Hmm

Coldfeets:


Hmm... I'm hearing this for the first time.

They told me the same thing.

Somebody should PLEASE answer this question.
Can I now use my GTB card in an African countty? Because the last time I was away, they stopped the card abruptly.

I don't know if it has changed now.
Anyone with such info should pls answer.

bigtt76:
Haba? They no longer allow inflow or what?

I think this issue might not be unconnected to the recent EFCC harassment of banks on their excessive charges on foreign transactions using the Naira debit cards following complaints by customers.

I tire o my dear. As citizens we are no longer allowed to make legit money on line again.

tempest01:
Which kind wahala be this na...

Make zenith bank no follow try am oh....I don die for here be that

If u need pounds or dollars contact me.

989900B:
There is no forex, but there is over $27b capable of covering over 12 months of imports and settlements, especially with oil marketers off the CBN and all the restrictions here and there . . . I don't get this . . .

That's priority bro. Funding PMS is better than our insatiable cravings for imported goods

tempest01:
Which kind wahala be this na...

Make zenith bank no follow try am oh....I don die for here be that

If Zenith try am. I am finished be dat. Choi!!!

Rowlandjude:
Pls some one should help me, am seriously in need now
Please I dont know what to type here.

In need of what?

I used my GTB naira master card last night to buy things online and it worked. I don't know about any other bank.

Ugosample:
Somebody should PLEASE answer this question.
Can I now use my GTB card in an African countty? Because the last time I was away, they stopped the card abruptly.

I don't know if it has changed now.
Anyone with such info should pls answer.

I did bought and made payment online here in China just last night on amazon and bought mobile voip credit both transactions went well.

Tundeiab:


I withdrew 500$ from a foreign sites into my zenith bank account yesterday. The next thing was that my account was blocked from international transactions.

I tire for this APC led government o.

...Hmmmm !!!

Dat is gtbank right? Same thing dey told me.. We are safe

coolsix:


Lol

That is the mistake you guys are making. CBN DID NOT GIVE ANY DIRECTIVE THAT SAYS BANKS SHOULD RESTRICT CUSTOMER CARDS! The banks are acting on their own discretion or their own forex issues not CBN. My own bank sent me a mail just a few days ago(about 3 days) telling me that my monthly spending limit for USD on my naira card has INCREASED! If the bank has plan to join this restriction, i doubt that it would have sent its customers that email.

P.s i just finished with my bank phone customer care and they said they do not have plans to restrict!

Wat was d exchange rate pls?

shotuns:
I used my GTB naira master card last night to buy things online and it worked. I don't know about any other bank.

Diamond bank will never be alone in this
Firstbank will be next to join the wagon
Useless bank claiming first ma foot... They always wait for others to innovate and they quickly follow trend

Back to the mata.... Oda banks will soon do such and hey good move.
You put in naira into your account not dollar
So why should you feel obligated to spend dollar freely crashing our already crashed naira
Na until naira become 1000 naira to a dollar before we go get sense
Patronise made in nigeria goods
Murray bruce said so..... But the so called educated youths are so gud in finding flaws then carrying oit solutions
Nigeria problem is that we too know something in our head ...... But when played out are dumb as shit

please stop posting unverified information. i just used my card from stanbic, uba and gtbank and they are all working fine. i have also confirmed from customer care of respective banks and they confirmed that it is a rumor.

Infinitikoncept:
By the time e go clear for naija eyes ehn, we'll stone pmb pure water on democracy day to return our votes

Apparently you don't know what the problem is.

Nigeria as a country is running out of dollar reserves cos of dwindling petrodollar earnings (thanks to global crude oil glut and the recent NDA and the new whats-their-name militant group). No other established source of forex earning for the country.

We are in this quagmire because we did not save enough to cushion this period of scarcity that followed a period of plenty.

Saudi Arabia has spent close to 400 billion USD of her forex savings since this problem started. Venezuela's paltry savings is almost extinct.

So pray tell, how else does the government source for dollar in the short term to supply the immense demands of which you are one?

Pls note my emphasis on "short term".

ceaser:


Apparently you don't know what the problem is.

Nigeria as a country is running out of dollar reserves cos of dwindling petrodollar earnings (thanks to global crude oil glut and the recent NDA and the new whats-their-name militant group). No other established source of forex earning for the country.

We are in this quagmire because we did not save enough to cushion this period of scarcity that followed a period of plenty.

Saudi Arabia has spent close to 400 billion USD of her forex savings since this problem started. Venezuela's paltry savings is almost extinct.

So pray tell, how else does the government source for dollar in the short term to supply the immense demands of which you are one?

Pls note my emphasis on "short term".

I already replied the first dude that quoted me but in summary to your question banks don't charge official rate but almost black market rate & Nigerians in diaspora also send USD home, we also have exporters even though not much that earn in USD and the bank pays them naira so if a bank closes online forex transaction na dem lose cox dey are the ones adding more than #100/$ to the official price they got it from CBN.
For your short term, its not as if the forex we have last month is d same we have today, they sell everyday so what's d brouhaha all about abi why must some people have access cox dem dey there while me will be denied the less than $1500 per month transaction? Let them curb their excesses on galvanating the world tour wasting estacodes & living in luxury hotels using state treasury cox telling we the masses to bear the brunt every time ain't democracy its corruption

My keystone bank Mastercard stopped working since April but they said i can apply for visa cards which i have applied but still waiting to see how it works.

coolsix:


Lol

That is the mistake you guys are making. CBN DID NOT GIVE ANY DIRECTIVE THAT SAYS BANKS SHOULD RESTRICT CUSTOMER CARDS! The banks are acting on their own discretion or their own forex issues not CBN. My own bank sent me a mail just a few days ago(about 3 days) telling me that my monthly spending limit for USD on my naira card has INCREASED! If the bank has plan to join this restriction, i doubt that it would have sent its customers that email.

P.s i just finished with my bank phone customer care and they said they do not have plans to restrict!

Please, which bank is that? When I found out I couldn't use my UBA naira debit card for foreign transactions, I assumed it was all the banks.

Wryhder:

Please, which bank is that? When I found out I couldn't use my UBA naira debit card for foreign transactions, I assumed it was all the banks.

GTBank

BluStreak:
Just yesterday I used my GTBank Naira Mastercard for an international transaction. The exchange was high though, N315.6 instead of the N299 advertised by abokifx.com

It just might be a diamond bank thing sha. Let's just hope it's really a DB thing cos it's gonna be messy if it's a general thing.

Same amount here DB and FCMB

Coldfeets:


Hmm... I'm hearing this for the first time.

Yes sir, i have spoken with and they confirm that Fed government got the problem not them.

goodlifehyd1:
Used my Skye bank Debit card last night and it's working perfectly, but the exchange rate was pretty messy


Exactly I got the same message from GT but some people are trying to make us believe all banks stopped the use of Naira debit cards outta the country. But GTB's exchange rate can give someone heart attack... Whenever I am using my GTB card I don't go to the Machine with my phone cuz that email alert alone go turn person to mathematician

Which bank has the lowest exchange Rate bro?
GTB is doing nonsense with this 299 to the dollar thing abeg.... If I have money I'll sue them

I received this on May 16, 2016.

desmond2pk:



Gtb

Same sent to me

Infinitikoncept:

I already replied the first dude that quoted me but in summary to your question banks don't charge official rate but almost black market rate & Nigerians in diaspora also send USD home, we also have exporters even though not much that earn in USD and the bank pays them naira so if a bank closes online forex transaction na dem lose cox dey are the ones adding more than #100/$ to the official price they got it from CBN.
For your short term, its not as if the forex we have last month is d same we have today, they sell everyday so what's d brouhaha all about abi why must some people have access cox dem dey there while me will be denied the less than $1500 per month transaction? Let them curb their excesses on galvanating the world tour wasting estacodes & living in luxury hotels using state treasury cox telling we the masses to bear the brunt every time ain't democracy its corruption

Once before I got mad with the banks for "competing" with ab0kis in their forex transactions. One of the bank guys said they may have little choice about that the reason being that Nigerians always explore every available loopholes. If they peg their dollar transaction to a very large margin to that of black market, Nigerians will resort to round-tripping dollars obtained from bank to make maximum profit in black market.

Of course it's still a win situation for the banks and a loss to Nigerians like us.

haryomikun:

Which bank has the lowest exchange Rate bro?
GTB is doing nonsense with this 299 to the dollar thing abeg.... If I have money I'll sue them

GTB no longer 299 but now 315. Haven't confirmed though. I have been on stanbic for some time now at 299 per dollar.