dgunz:
it does not affect africard and again CBN denied that claim READ: https://nairametrics.com/2020/02/23/cbn-restricts-withdrawal-of-foreign-currency-deposits/

Yes, some are still able to withdraw with Africard.

quote author=Lagbaja01 post=86905259]I just read somewhere that "CBN restricts withdrawal of foreign currency deposits"[/quote]
The Central Bank of Nigeria (CBN) has stated that only cash deposit into domiciliary account can be withdrawn over the counter and not through electronic transfer.

The apex bank disclosed in a tweet, stating that deposits made through electronic transfers into domiciliary accounts can only be transferred but cannot be withdrawn as cash over the counter.

The CBN added that cash deposits also made into domiciliary accounts can only be withdrawn as cash over the counter and not transferred out of the domiciliary account.



The CBN tweet said “Only transfers into domiciliary accounts can be transferred from such accounts while cash deposits into such accounts can only be withdrawn in cash.”

Meanwhile, the tweet was made in response to speculation that the apex regulator in Nigeria had banned the acceptance of foreign currency as cash deposits in Deposit Money Banks (DMBs).

The CBN denied that it had given any such directive to the DMBs operating within the country and any information contrary to this is false.

The CBN tweet said “The CBN has not prohibited acceptance of foreign currency as cash deposits by DMBs. Rumors to the contrary are false”

What this means: If a bank customer made an electronic transfer of $5,000 into his domiciliary account and later goes to the bank to make a cash deposit of $10,000, making a total of $15,000 in the account. Such customer can only make withdrawals from the account in the manner/medium he used to make the deposits into the domiciliary account.

It means if the bank customer needs to make a payment of $12,000 or initiates a transaction of $12,000, he can only pay $5, 000 through electronic transfer and the reaming $7,000 would have to be paid in cash.

The new CBN directive comes as a surprise to Nigerians as shown in their responses to the tweets on Saturday.

UPDATE: We appreciate our readers that called our attention to error in the headline of the article published earlier. The error, which is regretted, has been rectified and corrections effected.

THIS WAS AN UPDATE ABOUT IT

Why are we going to and fro over this Africard Issue??.

souzadchef:
Why are we going to and fro over this Africard Issue??.

Let us mourn our beloved card that has helped us bring in millions to Nigeria

souzadchef:
Why are we going to and fro over this Africard Issue??.

Until there is a better alternative, we'll keep going to and fro over it. Note there are alternatives, but some are risky (money exchangers) while others are expensive (payoneer, etc.)

My opinion is that we should speak with Madam on QA, whether Stanbic works or not.

Lol...mourning is over. Let's find alternatives.

samsard:
Let us mourn our beloved card that has helped us bring in millions to Nigeria

Yes, true.
Has anyone else tried Stanbic as suggested by Dgunz

houzing:


Until there is a better alternative, we'll keep going to and fro over it. Note there are alternatives, but some are risky (money exchangers) while others are expensive (payoneer, etc.)

tenderfigure:
My opinion is that we should speak with Madam on QA, whether Stanbic works or not.

I agree. Even using paypal sef fit give person high blood pressure. Everytime I get an email from qa or paypal, my heart always skips a bit. Anoda payment alternative and we can rest easy, knowing our money is safe. Make she agree, na im be d koko. She don master thinly veiled insults to a T.

foluwaseyi:

I agree. Even using paypal sef fit give person high blood pressure. Everytime I get an email from qa or paypal, my heart always skips a bit. Anoda payment alternative and we can rest easy, knowing our money is safe. Make she agree, na im be d koko. She don master thinly veiled insults to a T.

And you don master her well.

Please having said that. this is time for action. It's time to begin collecting signatures. Once we have enough, we can collectively approach Madam for solution to our collective problem.

houzing:


And you don master her well.

Please having said that. this is time for action. It's time to begin collecting signatures. Once we have enough, we can collectively approach Madam for solution to our collective problem.

Yeah, bro. No be d one weh one persin go talk everybody go dey wait to see wetin madam go tell d persin. We gats plenty yan make dem take us serious, at least.

okay

If we're going to take our proposal to her,

1. What payment method will be the best option and should be adopted by each and every one hustling on that platform?

2. How are we gonna get guys online while presenting our proposal?

nwafresh:
If we're going to take our proposal to her,

1. What payment method will be the best option and should be adopted by each and every one hustling on that platform?

2. How are we gonna get guys online while presenting our proposal?

I suggest QA paying directly to our Nigerian bank account. They will save money and we will also make money. No more $5 paypal fees.

If we can get up to 100 Nigerians with our user ID/Contractor ID. We are good to go.

Even don't forget we have Nigerians that are SCC on the Platform. (I think)

Please has anyone tried linking payoneer account with paypal?

houzing:


I suggest QA paying directly to our Nigerian bank account. They will save money and we will also make money. No more $5 paypal fees.

If we can get up to 100 Nigerians with our user ID/Contractor ID. We are good to go.

Even don't forget we have Nigerians that are SCC on the Platform. (I think)

Like Gt, UBA, Zenith, etc?

Any other suggestion?

houzing:


I suggest QA paying directly to our Nigerian bank account. They will save money and we will also make money. No more $5 paypal fees.

If we can get up to 100 Nigerians with our user ID/Contractor ID. We are good to go.

Even don't forget we have Nigerians that are SCC on the Platform. (I think)

I don't think this will work. It has to be something that'll be beneficial to people from other countries having that are also having issues with Paypal.

tenderfigure:




I don't think this will work. It has to be something that'll be beneficial to people from other countries having that are also having issues with Paypal.

Bring your own idea base on the payment method na

tenderfigure:
Please has anyone tried linking payoneer account with paypal?

Yes, I have but I'm not quite familiar with Payoneer's withdrawal methods. I had requested for the Payoneer card sometimes ago but it didn't arrive.

Mekanus:
Yes, I have but I'm not quite familiar with Payoneer's withdrawal methods. I had requested for the Payoneer card sometimes ago but it didn't arrive.

Was it successfully linked?

tenderfigure:




Was it successfully linked?

Yes and I even transferred $2 to it from PayPal just to test the waters.

houzing:


Until there is a better alternative, we'll keep going to and fro over it. Note there are alternatives, but some are risky (money exchangers) while others are expensive (payoneer, etc.)

Is it possible to withdraw from PayPal to Payoneer?

What is happening I can't seem to see any calls to transcribe since morning

Pls who is madam?

tenderfigure:
My opinion is that we should speak with Madam on QA, whether Stanbic works or not.

Mekanus:
Yes and I even transferred $2 to it from PayPal just to test the waters.

Please, how much did Paypal charge you for the transfer?

Mekanus:
Yes and I even transferred $2 to it from PayPal just to test the waters.

how did u do ithw did u get the message containing paypal verification code??

Please ooo how do you guys cope with catching a call on the new platform in this drought. Do I continue refreshing as before o what

Mekanus:
Yes and I even transferred $2 to it from PayPal just to test the waters.

Bro, how did you go about transferring $2 to payoneer from PayPal?

Torch1:

Is it possible to withdraw from PayPal to Payoneer?

Yes. But you need to have at least a dollar or two in Your payoneer account, as PayPal would deduct a total of $1 from your account in two succession.

Now, the issue lies in having money in payoneer. If you can have someone make a transfer to your payoneer account, you're good to go.

Please who else buys PayPal funds apart from webshopNG? He is not replying me again.

tenderfigure:



Please, how much did Paypal charge you for the transfer?

I was charged 0.01 cent to transfer $1 and I did the transfer twice, $1 each.