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Nairaland Forum / Nairaland / General / Business / CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit (19943 Views)
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Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by OgaDeyVex: 6:56am On Nov 12, 2022 |
No Be Small Thing ooooo |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by darelar(m): 6:57am On Nov 12, 2022 |
This is a big trap and many of the looters will fall for this. The money will get back to the economy and the depositors will be efcc guest in no distance time. |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by SenatePresdo(m): 6:59am On Nov 12, 2022 |
mrvitalis: Very possible, its always a game. |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by Badgers14: 7:02am On Nov 12, 2022 |
Shame on CBN. Why do they make policy that they have no interest in enforcing?? This is just defeating the cashless cash limit policy.. Why even bother about Nigeria and its burden sef.. shameful, very shameful!!! 2 Likes |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by pat077: 7:08am On Nov 12, 2022 |
mrvitalis:I was also thinking in that direction, maybe its a ploy to bank the money that are outside the banking system. But, won't they withdraw their money back without restrictions later? |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by pat077: 7:09am On Nov 12, 2022 |
mrvitalis:when did they make such announcement, I did not hear of it. |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by imagrg(m): 7:13am On Nov 12, 2022 |
The Commercial banks are to blame because they give out a huge part of bank notes to POS operators. |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by AfahaAbia(m): 7:14am On Nov 12, 2022 |
To dthose who don't understand the rubbish said by CBN. They mean that no more restrictions on large deposits. Anybody can bring even 100billion to the bank and the bank must receive that money. This country is finished |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by kwasoly(m): 7:18am On Nov 12, 2022 |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by Mrpojj(m): 7:23am On Nov 12, 2022 |
Davidonkonsults:Am telling you, who will stop politicians? |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by mrvitalis(m): 7:26am On Nov 12, 2022 |
pat077:Restrictions would be on withdrawal not deposit 1 Like |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by arantess: 7:30am On Nov 12, 2022 |
GardenOfGod: 1 Like |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by brandon2009: 7:41am On Nov 12, 2022 |
LagosInter: Hold on.. |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by dabonny(m): 7:47am On Nov 12, 2022 |
I don't know why someone will put a cart before the horse. This latest directive is what the CBN outght to have released long ago. It's a simple logic and arithmetic. You claimed some monies are being stored and withheld from circulation by some individuals; it's nice that you made such discovery; so what's the measure you are to put in place to force the monies out of their reach? It's just so simple! The trick of redesigning naira and given the release date makes a good sense. But where the CBN has missed it was when they still placed a limit on the deposit. Contrary to the former, they should have removed the limit on the deposit ( like they just did) and maintain the limit on withdraw. Moreso, we can not all be daft, we all know no money is going to be redesigned |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by codedguy1(m): 7:49am On Nov 12, 2022 |
We will start seeing bullion vans running all over the place now. Bank managers done hammer |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by iLegendd(m): 7:56am On Nov 12, 2022 |
asainco:They said money is not good for our health and it's the root of evil. The CBN is trying to advise us to avoid money if we want to live long. I think they're right. 1 Like |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by breezeng: 7:58am On Nov 12, 2022 |
This should be a method by government to trap people to bring their loots to the bank for deposits. Not necessarily giving the depositors back all the deposited back in cash since we are encouraging cashless transactions. In that case , cbn do not need to print much cash. Efcc should be in every bank to monitor and have a record of heavy cash depositors for necessarily action. This requires a lot of sincererity by the government. |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by papiilo(m): 8:24am On Nov 12, 2022 |
iLegendd:anything concern |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by Emaprince: 8:25am On Nov 12, 2022 |
imagrg:How much do you think a POS operator can collect? BTW customers also go to the bank to withdraw for business. POS operator only render minor cash services to people. Instead of you to focus on corrupt politicians that are hiding billions away..you dey talk small POs business. |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by Lukuluku69(m): 8:45am On Nov 12, 2022 |
asainco: Perchance you have Naira Notes stashed away in your sceptic Tanks, Water Tanks, the CBN says don't be afraid, bring them to the Deposit Money Banks and lodged them even if it is above the Daily Thresholds of #500k for Individuals and #3m for Corporate bodies. 1 Like |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by Lukuluku69(m): 8:48am On Nov 12, 2022 |
codedguy1: I tell you! Extra mulla for the Bankers if they play it smart. For every #1m that can go in, a fixed or ven variable will go to the Banker. |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by chatinent: 8:49am On Nov 12, 2022 |
Lol. No bi wetin I talk? How could it be against politicians when it is generally for their benefit? |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by Nobody: 9:01am On Nov 12, 2022 |
asainco: This the reason dollar is crashing. The people that rushed the dollars (because they couldn’t do above a certain deposit to the bank) have stopped rushing dollars and taking the stashed cash to the bank daily. Banks have even opened on Saturday to receive those monies. So no need to rush dollars again 1 Like |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by BreakingNews21: 9:03am On Nov 12, 2022 |
asainco: I'm guessing Emefiele is still backhandedly supporting the black market currency trading market. He's the one that initiated these new banknotes policy without notifying the Buhari administration. The Minister of Finance said her ministry was not counseled about the Naira change by the CBN but seems they won't waste the time and energy to block it in the final months of this government. Hopefully the next President brings in a new CBN governor that can handle the complexity of the appointment. 1 Like |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by TheMostComplex1: 9:03am On Nov 12, 2022 |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by kunleham(m): 9:08am On Nov 12, 2022 |
SenatePresdo:But it's not same Buhari we have in the helm of affairs now |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by TheMostComplex1: 9:09am On Nov 12, 2022 |
darelar: The looters are sharp too. So they may use part of the money to buy properties & use proxies to change it |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by Alkapalexis: 9:16am On Nov 12, 2022 |
asainco:they said sub banks that would be taking old naira notes should not charge any one coming with amount that is beyond the normal amount the person should have and that the main cause of the naira redesign is the excessiveness of counterfeits in the whole country therefore making the original note powerless and lastly the adviced to change currencies like N5, N10, N20, N50 to coins to decrease the supply of counterfieting in the country which i primarily agree to 2 Likes |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by Iamthoney(m): 9:32am On Nov 12, 2022 |
I don forget the last time wey I enter bank go deposit money sef. This Emefiele na complete dunkey I swear. No matter their policies those wey go survive go those wey go OVB go OVB. Policy to favor the rich and punish the poor. |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by jimter44(m): 9:46am On Nov 12, 2022 |
eminikansoso: The aim is to make people move the money they stock in their safety tanks, pit toilets, warehouses and farms etc to the banking system. |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by baralatie(m): 10:40am On Nov 12, 2022 |
iscom:Ok |
Re: CBN Directs Banks To Accept Deposits Beyond Cashless Policy Limit by GardenOfGod(m): 10:45am On Nov 12, 2022 |
TheMostComplex1:Politicians forced him to concede. Going against extant CBN deposit policy is not from his own making. I can't explain further. |
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