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Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits - Business (3) - Nairaland

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Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Kion: 4:59pm On Aug 22, 2023
Fugazy2023:


Rule 2: Seun Mynd44 OAM4j nlfpmod

My mum is a nuisance and a worthless animal
Oya collect your palliative make you for try survive this Ebola administration

1 Like

Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by DanAugust2021: 5:05pm On Aug 22, 2023
bot101:


Lol. You cannot force people to spend their dollars when your Naira is so unpredictable and can be easily manipulated.

Crypto will just come back with full force.
It's not about forcing people to spend their dollars. Don't use dollars as collateral to borrow money from any Nigerian bank. You can only use the naira to borrow money from a Nigerian bank. If you must borrow, then the collateral must be in Nigeria naira, Shikena.
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by nedekid: 5:23pm On Aug 22, 2023
FreeStuffsNG:
It is getting hotter as CBN goes after forex speculators and speculation to burn them more. It's no brainer that the banks are at the centre of the forex speculation and even their collaborators within CBN itself must not be spared.

These unpatriotic people were using USD as collateral to take loans in naira and then use the naira loans to buy USD, thereby pressuring the FX market!

SLS has been screaming about this unpatriotic malfeasance for years and now is the best time to get them to answer for the crime. Check my signature for free stuffs!
Well said.
That was what jimoh Ibrahim boosted to have done. Placing 250m pounds as collateral on his local loans knowing naira will fall.

1 Like

Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Abifarin16: 5:30pm On Aug 22, 2023
HeartlessMan:
Every week a new policy yet Naira keeps rising.
Ebola Tinubu is a clueless government. I now believe the man never attended school.
every week he keeps exposing the evils that many administrations kept quiet about and things the common Man did not know, but you will not see anything good about it.

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Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by ebenholer2(m): 5:32pm On Aug 22, 2023
HeartlessMan:
Every week a new policy yet Naira keeps rising.
Ebola Tinubu is a clueless government. I now believe the man never attended school.
[b]The fact still remains u and ur brothers are one of the speculators that need to be tamed in order to stabilize the prize of dollars.

1 Like

Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by ebenholer2(m): 5:32pm On Aug 22, 2023
HeartlessMan:
Every week a new policy yet Naira keeps rising.
Ebola Tinubu is a clueless government. I now believe the man never attended school.
The fact still remains u and ur brothers are one of the speculators that need to be tamed in order to stabilize the price of dollars.

1 Like

Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Chineduagwu: 5:38pm On Aug 22, 2023
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Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by gigabyte13: 6:09pm On Aug 22, 2023
Can you use naira to borrow money in other countries, if not converted to their own currency.....
So what's wrong with the circular please....?
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by jaxxy(m): 6:56pm On Aug 22, 2023
FreeStuffsNG:
It is getting hotter as CBN goes after forex speculators and speculation to burn them more. It's no brainer that the banks are at the centre of the forex speculation and even their collaborators within CBN itself must not be spared.

These unpatriotic people were using USD as collateral to take loans in naira and then use the naira loans to buy USD, thereby pressuring the FX market!

SLS has been screaming about this unpatriotic malfeasance for years and now is the best time to get them to answer for the crime. Check my signature for free stuffs!

Still chasing shadows instead of the real problem. Lol
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Nobody: 7:27pm On Aug 22, 2023
yang:
The dumbest central bank in the world

Every month they print trillions of naira from thin air into existence and turn around to blame every body else for their incompetence

They are inching closer to to ban FX withdrawals over the counter from diaspora remittance

They should watch the Naira trade at 2000 per dollar if they try it

There is a reason Bitcoin ETH XRP is seeing massive trading volumes every day, to escape normal people from evil kleptocrats like Thiefiinubu Buhari and APC

You are a bastard if you support this evil government and may thunder fire you if you think you have right to determine to someone whose family abroad sends FX how they should use and exchange their Hard gotten money

May the evil that you have brought upon people by electing Thiefiinubu and Buhari follow you and your family for ever
the government have every right and power to dictate how currency is exchanged. Why don't you set up bank in your house and get a printer so you can print your own currency and use it to trade with your family members?

1 Like

Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by XAUBulls: 8:09pm On Aug 22, 2023
FreeStuffsNG:


https://nairametrics.com/2023/08/22/cbn-directive-bans-naira-overdrafts-secured-by-foreign-currency-deposits/
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by MeineMutter: 8:12pm On Aug 22, 2023
Nazgul:
All these policies keeps suffocating the naira. During Jonathon's era, naira to Dollar equivalent was less than N200, yet BDCs were operating freely, people with dorm accounts weren't waking up to meet new policy emails, getting dollar was as easy as walking to an ATM to withdraw naira.

If corruption continues, all these policies would still yield no result.

It’s because we were lucky then. Our oil was selling above $100 per barrel when our oil revenue budget was set at around $36 per barrel.

You would see we were making like 300% more than we budgeted for due to the unrest in the MiddleEast and Libya.

That’s why there were more dollar supply than demand and this helped to keep dollar rate in check.

Instead of Jonathan and our state governors to have utilized the funds well, they were all busy sharing and secretly withdrawing from the reserves.
Nearly all, if not all meant for development were stolen. Lots of billions were wasted on his re-election campaign.

I am certain; Nigeria can never be better.

1 Like

Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Yankee101: 8:36pm On Aug 22, 2023
They don’t want to touch their dollars as the economy no stable

So collect naira as loan

Las las the appreciation fit even pay for the loan. What a country

Predictability is the bedrock for development and even riding and setting of the sun, farming, life of earth etc
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by dheilaw1(m): 9:43pm On Aug 22, 2023
HeartlessMan:
Every week a new policy yet Naira keeps rising.
Ebola Tinubu is a clueless government. I now believe the man never attended school.
the agony of a pained ipob terrorist
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by imam07: 11:20pm On Aug 22, 2023
HeartlessMan:
Every week a new policy yet Naira keeps rising.
Ebola Tinubu is a clueless government. I now believe the man never attended school.
naira keep rising? Is it not not supposed to rise or Wetin u dey talk here
Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by BigIyanga: 2:06am On Aug 23, 2023
Cosbyrich:

Ipob soliloquizing..
Have you boughg $1 at 700?? I forgot you dont even have a dom account?

1 Like

Re: Leaked CBN Circular Bans Naira Overdrafts Secured By Foreign Currency Deposits by Invest4growth: 2:41am On Aug 23, 2023
Veritas Registrars should pay shareholders on Ardova Plc. The sudden delisting was to spite and cheat minority shareholders. The Nigerian capital market has become unregulated and the more you look the less you see

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