Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,107,734 members, 7,668,738 topics. Date: Wednesday, 06 December 2023 at 03:50 PM

CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim - Investment - Nairaland

Nairaland Forum / Nairaland / General / Investment / CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim (1401 Views)

Conversion Of Dollar In Domiciliary Account To USDT / Create Usd, Gbp, Euro Domiciliary Account In Nigeria 2022 (grey.co Account) / Beware Of This Loan App ( 9ja Cash )...... I Just Fall A Victim Of Thier Scams. (2) (3) (4)

(1) (Reply) (Go Down)

CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by Eriokanmi: 1:26pm On Sep 03
Hello all, don't be caught in the web. If you have a large sum of usd in your dom account, go and withdraw it this week. I don't trust these people. I got a reliable information that the move would take effect this week. If you leave your money there and you'd like to withdraw it after enforcing this, you'd pay a huge sum as banks charges for withdrawing your money. This would literally render the money useless as the charges will be so high.

Withdraw your money and keep, if you don't wish to sell it. I see this move crashing the dollar in a shorter time too. Don't join those saying as long as we're an import dependent nation, naira would continue to fall. If they say they want to negotiate with you, be wise. Don't give them your money cos the next administration may not look at the deal. You may or may not get your money back again. Remember our politicians don't keep dollars in the bank. They stash them underneath their building and inside vaults with ac blowing on it. Guide your hard-earned money pls.

Remember we've always been an import-dependent nation since 1960 and naira was so strong. Na bad policy and bad leadership dey spoil our economy and weaken naira. We're servicing loans obtained to do elephant projects with almost all our earnings from crude. NA is the highest paid in the world with fantastic corruption. I remember the accountant general who stole over 100bn naira and still walking freely today.

These are the reasons for the free fall of the naira....not the amount of imports. There are a lot of countries in Africa and Asia whose currencies are much more valuable or stronger than ours and they import nearly everything.

7 Likes 2 Shares

Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by TemplarLandry: 1:28pm On Sep 03
cool
Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by shortgun(m): 1:31pm On Sep 03
Tinubu is a tyrant but he won't dare
Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by Pierocash(m): 1:40pm On Sep 03
Rubbish post! So if they finally withdraw the dollar, and the price crashes, it will remain crashed after they exhaust it abi?

Dollar will keep skyrocketing, nothing CBN can do. We produce practically nothing, so dollar we keep soaring against naira. Every crash will remain impermanent

3 Likes 1 Share

Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by ufuosman(m): 1:45pm On Sep 03
Eriokanmi:
Hello all, don't be caught in the web. If you have a large sum of usd in your dom account, go and withdraw it this week. I don't trust these people. I got a reliable information that the move would take effect this week. If you leave your money there and you'd like to withdraw it after enforcing this, you'd pay a huge sum as banks charges for withdrawing your money. This would literally render the money useless as the charges will be so high.

Withdraw your money and keep, if you don't wish to sell it. I see this move crashing the dollar in a shorter time too. Don't join those saying as long as we're an import dependent nation, naira would continue to fall. If they say they want to negotiate with you, be wise. Don't give them your money cos the next administration may not look at the deal. You may or may not get your money back again. Remember our politicians don't keep dollars in the bank. They stash them underneath their building and inside vaults with ac blowing on it. Guide your hard-earned money pls.

Remember we've always been an import-dependent nation since 1960 and naira was so strong. Na bad policy and bad leadership dey spoil our economy and weaken naira. We're servicing loans obtained to do elephant projects with almost all our earnings from crude. NA is the highest paid in the world with fantastic corruption. I remember the accountant general who stole over 100bn naira and still walking freely today.

These are the reasons for the free fall of the naira....not the amount of imports. There are a lot of countries in Africa and Asia whose currencies are much more valuable or stronger than ours and they import nearly everything.

U hv said it all.
UAE πŸ‡¦πŸ‡ͺ import almost everything and dere money still hv value

11 Likes 1 Share

Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by ufuosman(m): 1:46pm On Sep 03
Anything dem one to do let dem do so that dollar will drop wella πŸ˜‚πŸ˜‚

2 Likes

Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by Eriokanmi: 1:54pm On Sep 03
Pierocash:
Rubbish post! So if they finally withdraw the dollar, and the price crashes, it will remain crashed after they exhaust it abi?

Dollar will keep skyrocketing, nothing CBN can do. We produce practically nothing, so dollar we keep soaring against naira. Every crash will remain impermanent
Nigeria isn't the only country importing almost everything and producing practically nothing yet, a country with the worst currency in africa.

By the way, it was my humble advice unsolicited for. If you like, heed it or you don't. No insults

3 Likes 2 Shares

Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by Parachoko: 2:33pm On Sep 03
What the OP is saying is not possible

2 Likes 1 Share

Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by Evestar200(f): 2:59pm On Sep 03
Not for someone like me that doesn't have up to $50 in my two dom accounts πŸ˜„πŸ˜„πŸ˜„πŸ˜„πŸ˜„
Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by Gee64: 3:01pm On Sep 03
And you want it to fall the more?
Pierocash:
Rubbish post! So if they finally withdraw the dollar, and the price crashes, it will remain crashed after they exhaust it abi?

Dollar will keep skyrocketing, nothing CBN can do. We produce practically nothing, so dollar we keep soaring against naira. Every crash will remain impermanent
Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by Dialpad: 3:46pm On Sep 03
What value will the withdrawn dollars bring?

Not sure how this approach will crash the dollars against the dollars.
Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by PARADIZEPRIEST: 3:51pm On Sep 03
Dollar will crash to naira once naija starts using China currency or Brics currency to receive money selling oil and minerals and tgen buy by import all the oloshi things you unpatriotic Nigerians keep smuggling into naija like used cars and cloths furnitures noodles,luxury bulletproof cars,longthroat taste goods,jewelries etc.
Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by PARADIZEPRIEST: 3:59pm On Sep 03
PARADIZEPRIEST:
Dollar will crash to naira once naija starts using China currency or Brics currency to receive money selling oil and minerals and tgen buy by import all the oloshi things you unpatriotic Nigerians keep smuggling into naija like used cars and cloths furnitures noodles,luxury bulletproof cars,longthroat taste goods,jewelries etc.
QUANTUM VALUE OF WHAT ALL NAIJA EXPORT TO IMPORT IS WHAT THAT SHAPES DOLLAR RATE IN NAIJA
Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by correctguy101(m): 6:00pm On Sep 03
grin

You sure have a way with words

I don laff tire
PARADIZEPRIEST:
Dollar will crash to naira once naija starts using China currency or Brics currency to receive money selling oil and minerals and then buy by import all the oloshi things you unpatriotic Nigerians keep smuggling into naija like used cars and cloths furnitures noodles,luxury bulletproof cars,longthroat taste goods,jewelries etc.

1 Like

Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by IVORY2009(m): 8:57pm On Sep 03
The poster did not understand the article they are trying to target investors from outside the country and those accounts with lots of monies and the owners have not withdrawed or deposited in the last few years


FG Targets Domiciliary Accounts in Zenith, Access Bank, UBA, Others And Nigerians With Funds Abroad Updated Sunday, September 03, 2023 at 6:11 AM by Pascal Oparada The Nigerian government is targeting domiciliary accounts of Nigerians The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said Nigerians with money are also being targeted He said the government will provide incentives for Nigerians with money in foreign accounts to invest in the country PAY ATTENTION:


Fuel your passion for sports with SportBrief.com. Click here to discover the latest sports updates! The Nigerian government seeks to attract funds kept in domiciliary accounts and the ones held by Nigerians abroad in a considerable investment drive to spur economic growth. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, revealed this during a press conference in Abuja on Thursday, August 31, 2023. President Bola Tinubu's government targets domiciliary accounts Credit: KOLA SULAIMON Source:

Getty Images Edun revealed that Nigerians have a massive stash of funds in domiciliary accounts and large sums in bank accounts abroad that could be deployed to rejuvenate the economy. READ ALSO "Many live below $1.95 per day:" FG unveils plan to lift millions of Nigerians out of poverty The Finance minister stated that Diasporan Nigerians were also targeted to play a critical role in the new move to rejig the economy and position it for high growth via productivity and efficient resource management.


PAY ATTENTION: FREE Webinar on Media Literacy Aug 31, 12pm by Legit.ng, LEAP Africa, and YDOS 2023 - REGISTER Vanguard reports that Edun said there is a substantial source of Forex in Nigeria via domiciliary accounts and foreign accounts owned by Nigerians. According to him, the government will incentivise Nigerians to repatriate their money home to invest in the economy and provide the required environment for Nigerians with resources abroad.

Edun spoke as the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari said petrol consumption has dropped in Nigeria. He said: "Nigerians in Nigeria have vast foreign currency holdings in banks and financial institutions abroad. We need to provide the environment that brings those funds home to choose to invest in the Nigerian economy rather than foreign economies, which is what they are doing right now." READ ALSO β€œThey agree”: CBN to review order requesting Access, UBA, other banks customer’s social media handles The Coordinating Minister for the economy said they will encourage Nigerians in the diaspora to invest in the country to save it from economic collapse. β€œIf you place money in a bank abroad, you invest in a foreign economy. Finally, we also have a huge source of funds from the diaspora,” Edun said. CBN moves to claim monies in dormant Accounts in Zenith Bank, First Bank, Others, Extends Dormancy to One Year Read more:

https://www.legit.ng/business-economy/economy/1551957-bring-money-home-fg-targets-domiciliary-accounts-nigerians-funds-abroad/
Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by LikeAking: 12:39am On Sep 04
Eriokanmi:
Hello all, don't be caught in the web. If you have a large sum of usd in your dom account, go and withdraw it this week. I don't trust these people. I got a reliable information that the move would take effect this week. If you leave your money there and you'd like to withdraw it after enforcing this, you'd pay a huge sum as banks charges for withdrawing your money. This would literally render the money useless as the charges will be so high.

Withdraw your money and keep, if you don't wish to sell it. I see this move crashing the dollar in a shorter time too. Don't join those saying as long as we're an import dependent nation, naira would continue to fall. If they say they want to negotiate with you, be wise. Don't give them your money cos the next administration may not look at the deal. You may or may not get your money back again. Remember our politicians don't keep dollars in the bank. They stash them underneath their building and inside vaults with ac blowing on it. Guide your hard-earned money pls.

Remember we've always been an import-dependent nation since 1960 and naira was so strong. Na bad policy and bad leadership dey spoil our economy and weaken naira. We're servicing loans obtained to do elephant projects with almost all our earnings from crude. NA is the highest paid in the world with fantastic corruption. I remember the accountant general who stole over 100bn naira and still walking freely today.

These are the reasons for the free fall of the naira....not the amount of imports. There are a lot of countries in Africa and Asia whose currencies are much more valuable or stronger than ours and they import nearly everything.



Remember we've always been an import-dependent nation since 1960 and naira was so strong. Na bad policy and bad leadership dey spoil our economy and weaken naira The bolded is 100% truth, no be importation dey make the naira fall.. Although it contributes

A rumour like this can make the naira sink to 1200 naira to USD...
Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by LikeAking: 12:44am On Sep 04
Eriokanmi:
Nigeria isn't the only country importing almost everything and producing practically nothing yet, a country with the worst currency in africa.

By the way, it was my humble advice unsolicited for. If you like, heed it or you don't. No insults


Dont waste your time to enlighten them... Common sense should give them the answer.

This is the time we know who truly has sense....

Forget about all this fake Nigerian wise guys....


Most of us cant think...


Nigeria is not even importing anything.... Our buying power is soo weak..

Some countries even import sand....
Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by LikeAking: 12:45am On Sep 04
PARADIZEPRIEST:

QUANTUM VALUE OF WHAT ALL NAIJA EXPORT TO IMPORT IS WHAT THAT SHAPES DOLLAR RATE IN NAIJA



You believe this is the cause of the problem?

Think


Class room economics = trash...
Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by willian10: 12:51am On Sep 04
this move though
Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by bdon12: 2:15am On Sep 04
Eriokanmi:
Hello all, don't be caught in the web. If you have a large sum of usd in your dom account, go and withdraw it this week. I don't trust these people. I got a reliable information that the move would take effect this week. If you leave your money there and you'd like to withdraw it after enforcing this, you'd pay a huge sum as banks charges for withdrawing your money. This would literally render the money useless as the charges will be so high.

Withdraw your money and keep, if you don't wish to sell it. I see this move crashing the dollar in a shorter time too. Don't join those saying as long as we're an import dependent nation, naira would continue to fall. If they say they want to negotiate with you, be wise. Don't give them your money cos the next administration may not look at the deal. You may or may not get your money back again. Remember our politicians don't keep dollars in the bank. They stash them underneath their building and inside vaults with ac blowing on it. Guide your hard-earned money pls.

Remember we've always been an import-dependent nation since 1960 and naira was so strong. Na bad policy and bad leadership dey spoil our economy and weaken naira. We're servicing loans obtained to do elephant projects with almost all our earnings from crude. NA is the highest paid in the world with fantastic corruption. I remember the accountant general who stole over 100bn naira and still walking freely today.

These are the reasons for the free fall of the naira....not the amount of imports. There are a lot of countries in Africa and Asia whose currencies are much more valuable or stronger than ours and they import nearly everything.

Stop spreading fake rumours.if this people remove their dollars frm bank ,fuel cost will increase again hope u know that.its not tinubu u doing,its urself.

2 Likes

Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by donemitex1: 6:35am On Sep 04
Are you normal? Do you know how much the UAE makes from tourism alone? They are moving away from being an oil dependent nation, but oil export still contributes a large chunk of their revenue. The only thing we export from Nigeria is corruption
ufuosman:
U hv said it all.
UAE πŸ‡¦πŸ‡ͺ import almost everything and dere money still hv value

2 Likes

Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by IVORY2009(m): 10:01am On Sep 04
bdon12:

Stop spreading fake rumours.if this people remove their dollars frm bank ,fuel cost will increase again hope u know that.its not tinubu u doing,its urself.

Don't mind him, he seems to be an illiterate.
Re: CBN Targets Stashed Dollars In Domiciliary Accounts, Don't Be A Victim by ufuosman(m): 10:19am On Sep 04
donemitex1:
Are you normal? Do you know how much the UAE makes from tourism alone? They are moving away from being an oil dependent nation, but oil export still contributes a large chunk of their revenue. The only thing we export from Nigeria is corruption
Yes am normal πŸ˜‚πŸ˜‚ I know they make enough money for tourism

(1) (Reply)

Invest In Landed Property And Stop Been A Teenant. / Proven Return On Investment In Millions / Business Ideas Needed

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2023 Oluwaseun Osewa. All rights reserved. See How To Advertise. 124
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.