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CBN Sets $1m As Capital Requirement For International Money Transfer Operators - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN Sets $1m As Capital Requirement For International Money Transfer Operators (9374 Views)

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Re: CBN Sets $1m As Capital Requirement For International Money Transfer Operators by israelmao(m): 7:18am On Feb 02
CBN is shopping for dollar back-up in order to save naira's freefall.
Re: CBN Sets $1m As Capital Requirement For International Money Transfer Operators by Nice123(m): 7:25am On Feb 02
racerve:


This can not be achieved in 50years

Attacking the symptoms instead of treating the cause.

Dollar scarcity is a supply and demand issue.

Give us stable power, and factories will start popping up everywhere. Once local manufacturing kicks off, we won't need to import so much, reducing demand.

Supply will increase when foreign investors regain confidence in us. For this to happen, the govt first has to start making coherent policies, tackle insecurity, and generally become more accountable to the masses. We also need to explore other commodities for exporting besides oil.


That's it. All these CBN directives are band aids that won't affect anything in the long run.
Re: CBN Sets $1m As Capital Requirement For International Money Transfer Operators by Oboto700(m): 7:32am On Feb 02
racerve:


Attacking the symptoms instead of treating the cause.

Dollar scarcity is a supply and demand issue.

Give us stable power, and factories will start popping up everywhere. Once local manufacturing kicks off, we won't need to import so much, reducing demand.

Supply will increase when foreign investors regain confidence in us. For this to happen, the govt first has to start making coherent policies, tackle insecurity, and generally become more accountable to the masses. We also need to explore other commodities for exporting besides oil.


That's it. All these CBN directives are band aids that won't affect anything in the long run.
orba is here.. very correct
Re: CBN Sets $1m As Capital Requirement For International Money Transfer Operators by Mandate1: 8:06am On Feb 02
Okeytus:
Is Now CBN is waking up, hope all these new rules will have a significant action on dollar.
all na telle me telle u, stories. When Nigeria is ready to make changes we will know. For now let's keep playing.
Re: CBN Sets $1m As Capital Requirement For International Money Transfer Operators by kolaaderin: 11:55am On Feb 02
Yankee101:
It’s actually too small when one single person can transfer up to $10k
$1m is just 100 such transfers
that is the minimum, it is expected for a serious operator to have multiple of millions of dollars at base minimum.

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