What Is Happening, Why No Money In Banks This Days? - Business - Nairaland
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| What Is Happening, Why No Money In Banks This Days? by Nobody: 6:50pm On Dec 22, 2016 |
I received the shock of my life this evening at diamond bank when I went to deposit money. Before now cashing out on ATM machines became a real hussle! Everyone said it's MMM participants withdrawing all their money via atm machines hence the long queues we see today. But MMM is currently on pause mode, I couldn't believe I went to Diamond Bank branch in PH today to deposit 118k and I was treated like a governor, they ushered to assist me to deposit my money, e remain make them give me chair and wine join . I noticed other customers standing and smiling looking at me counting my cash. I heard one of them saying my prayers has been answered, the other person shouting saying he deposited his money in the bank and they are telling him to come back tomorrow to withdraw his money. I really don't understand, are banks getting broke? Where are the monies we paid to them. Am not writing this to start a panic but I seriously need explanation. 1 Like |
| Re: What Is Happening, Why No Money In Banks This Days? by BlackDBagba: 6:53pm On Dec 22, 2016 |
I've noticed that too...it's really disturbing. Coming back to read comments |
| Re: What Is Happening, Why No Money In Banks This Days? by Khd95(m): 7:07pm On Dec 22, 2016 |
U left bank to ask us where the monies are,why didnt u ask the bank ehn op  Cos iam not understanding |
| Re: What Is Happening, Why No Money In Banks This Days? by Emmyk(m): 7:13pm On Dec 22, 2016 |
Khd95:Lol.  |
| Re: What Is Happening, Why No Money In Banks This Days? by emmy11(f): 7:21pm On Dec 22, 2016 |
BUHARI ORDERED CBN NOT TO RELEASE MONEY TO BANKS SO CHRISTMAS WONT BE CELEBRATED |
| Re: What Is Happening, Why No Money In Banks This Days? by Miles300: 7:41pm On Dec 22, 2016 |
Economic hardship , with this development expect banks to start sacking workers if this trend continues , the value of the current exchange rates is one of the problem , weak naira to make investments , huge loss as a result of naira devaluation , TSA, and banks no longer encourages saving on part of customer , incessants changes who wud want to keep his money in the bank ? Etc so many factors attribute to decline of funds in banks |
| Re: What Is Happening, Why No Money In Banks This Days? by bigiyaro(m): 7:50pm On Dec 22, 2016 |
Dis is why cryptocurrency has come to stay. For ur easy and free Bitcoin check my signature. |
| Re: What Is Happening, Why No Money In Banks This Days? by Gbengageorge: 11:30pm On Dec 22, 2016 |
The banks money is frozen in MMM. Take it or leave it.. Zenith should not try it wit me oooo. I go sell their office.. |
| Re: What Is Happening, Why No Money In Banks This Days? by Nobody: 12:01am On Dec 23, 2016 |
Gbengageorge:But MMM is within Nigeria, money is simply being circulated in the country. |
| Re: What Is Happening, Why No Money In Banks This Days? by Dajugba: 2:18am On Dec 23, 2016 |
Gbengageorge: Even if mmm had frozen their participants money, such money is been kept in banks. Banks can trade with the money without notification of whatsoever owns it. And so far from most of mmm thread I learnt some people are still providing help, which that cannot cause cash hortage. Or from another point of view, there is shortage of cash flow in the nation because banks don't have other means to regenerate revenue now. Remember most of these commercial banks has been on existence trading with money loaned to them by Govt. From the look of things; come next year, some banks might merge, and some may pull out of the system. Many bank officials may also be affected and dollars will keep depriciating the value of the naira making 1,000,000,00 equivalent to 600,000 in worth or value. |
| Re: What Is Happening, Why No Money In Banks This Days? by dboss444: 8:24am On Dec 23, 2016 |
But I thought oil PRIce has gone up. This was their excuse before. But seriously as a young man in Nigeria I have fears for this nation. This is the only year I have all sectors of the economy complain. Everywhere is dry we are in Xmas yet it is as if nothing is happening. |
| Re: What Is Happening, Why No Money In Banks This Days? by dboss444: 8:26am On Dec 23, 2016 |
Dajugba:NairA has lost 85% of its purchasing power according to report |
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