₦airaland Forum

And the Lord said to his people, Guard your loins.

Wetin kpekus don cause for this life, book no fit contain am

Ok

Originalsly:
This is the part I just don't understand.....I can understand the banks accepting FX but adapting regulations in giving it out. If they all stop accepting I guess is because of the FG ruling and not because of managing costs. If it were costs banks would simply add a fee for transactions. Whatever the case...the policy is effective and showing results and I strongly believe putting the brakes on the import everything culture plays a big role. @OP....most of your speculation is reasonable ......on paper! In reality a person storing huge sums of cash would definitely face serious security problems.

I am quite busy now and may not be able to tell you in details how keeping of FX in bank vault incures heavy financial burden on them.

If you approach CBN to deal FX either as a bank., Discount house or BDC. You are categorised with a limit of purchase and deals.
The categories are A B C.
What that simply means is that if you are a commercial bank for instance with a vault limit of 5million dollars by CBN peg. Any other dollar after that 5million peg is huge cost on the bank. You pay penalty of 3percent to CBN on the excess daily.

NSITF Insurance does not cover that excess in your vault. Cost of repatriation of the dollars outside the country is on you and not CBN.

CBN policy does not allow banks to charge customers extra for FX deposit or management.

I will explain better when am less busy if you need further clarifications

Below was my position and prediction few weeks back.

i need to state clearly that i am in fuill support of the stringent measures CBN has adopted to strenghten the Naira.

Have you asked yourself why the dollar has remained stable in the exchange market. Bank rate since may has not exceeded 199.8 and the parallel market has hit 242 lately. its nothing but speculative panic which will climax and come back crumbling.

The current rise is only in the parallel market otherwise known as black market. The federal government of Nigeria is making mad money from this policy and trust me there will be no reversals.

we have dollarised our economy and inflation is hiting us hard.

in simple terms, what CBN is saying is do the right thing. The policies have been in place for FX transactions but we like cutting corners.

prior to this policy, Nigeria lost billions daily and banks in partnership with the customers transfered funds to all parts of the world for personal and commercial businesses.

The CBN policy stipulates that you use FORM A and FORM M for vissible and invissible transactions.

There is no plan to reverse that policy Emefiele and his board are working and have the support of mr President. Brace up and do the right thing. Our foreign reserve is rising there is no going back.

Banks are shoting their doors against FX deposits because the cost of managing it will tell on their books.

we are strickly back to FORM A and FORM M.

ok

LastProphet:
and crooks in every sector too, at least 8 out of every 10

if your postulation is anything to go by.

that 2% is enough to change every sector.

You need a monetary and fiscal policy experts to manage and run a good economy.

when the president was travelling to the states. i had my reservation.

He needed a team of experts for perfect negotiation with U.S business moguls and economic experts.

He needed at the very least a minister of finance who should be a fiscal expert and a CBN governor who should be a monetary policy expert.

he needed like breath the minister for trade and investment in that trip. what we saw were pot belly governors who attached photographers to themselves

Make no mistake, I supported PMB but the earlier he appoints experts to man key sectors, the less mistakes he will make.
He is a general and not an economic expert.

Dont also tell me to wait till september that he is searching for ministers.

Nigeria is a population of 200million people with experts in all sectors.

nuff said

kanye be lyk, am i suppose to be feeling like am hugging a woman? gushhhhhhhhhh

ok, make i fulfil righteousness.

ha

ammyluv2002:
Sad!i don happy finish sef. Happy i will wake at least 10am

sorry...apply for leave nd rest...we have money to make as a nation that day..sorry

ammyluv2002:
Good news ! No work for two days



Btw, is like dis new government like public holidays sha. Well, all na my benefit

Lazy...no holiday for you

I need to stae clearly that i am in fuill support of the stringent measures CBN has adopted to strenghten the Naira.

Have you asked yourself why the dollar has remained stable in the exchange market. Bank rate since may has not exceeded 199.8 and the parallel market has hit 242 lately. its nothing but speculative panic which will climax and come back crumbling.

The current rise is only in the parallel market otherwise known as black market. The federal government of Nigeria is making mad money from this policy and trust me there will be no reversals.

we have dollarised our economy and inflation is hiting us hard.

in simple terms, what CBN is saying is do the right thing. The policies have been in place for FX transactions but we like cutting corners.

prior to this policy, Nigeria lost billions daily and banks in partnership with the customers transfered funds to all parts of the world for personal and commercial businesses.

The CBN policy stipulates that you use FORM A and FORM M for vissible and invissible transactions.

There is no plan to reverse that policy Emefiele and his board are working and have the support of mr President. Brace up and do the right thing. Our foreign reserve is rising there is no going back.

Banks are shoting their doors against FX deposits because the cost of managing it will tell on their books.

we are strickly back to FORM A and FORM M.

@Lalasticlala

I just imagine this guy telling Naija babes that he is an international business tycoon and they will be smiling from side to side.

but come to think of it. the guys business is PLC From naija-cameroon-ivory coast..Greed

Ofe akwu is superb especially with a touch of scent leave, goat meat and liitle fish.

It comes with this refreshing feel when cooled down on sunday afternoon with a bottle of wine.

My blessed wife knows i won't eat tomato stew.

Poverty is an ediot

reuben79:
I no blame u, u r d 1first graduate in ur family.mumu

1first graduate...lol...please go back to school.

I had a problem with the army chief talking tough on assumption of office.

Big dogs don't bark.

The dog that will bite won't also bark.

when a man talks too much, dont take him serious.

that was how that pot bellied Alex Barde former defense chief said we will flush out Bokoharam in
60 days. that marked the beginning of mayhem in this country.

Army chief said we shall make bokoharam beg for peace...how will you make a man you dont know beg for peace.
these guys are civillians who hit and run and come back to mix up with the populace.

TALK is so cheap. Nigeria should brace up...Talk will not end this.

reuben79:
I knw u people ar natually noise makers.go back to market and start ur local business, politices and education is Nt ur people callin ok.ewu

advice for you; ask a very close friend, is my English that bad?...look at your sentence "politices'' indeed.

reuben79:
dust bin brain are u"how many people ar educated in ur region? u foolish biafral got

I am not biafral in your words. but are you not surprised that till now you cant compose a good sentence.

Your father should have used condom. so that i dont meet you here.

Slow poke

reuben79:
wat is dey are fault? he went to them 4 political support and dey are endorsed him and he gave them money and dey ar collected it, and d money its Nigeria money.Jonathan paid them 4 dey are support in 2011, and dey ar massive votes and full support dey gave him and Jonathan later betray them.so no much comment naaa payback

Did you graduate from idiaraba college of arabic engineering....gosh, see what you are doing to English...who gave you internet.

same Obas that endorsed GEJ.
when are are these people going to be reliable?

It can be moved but not in 5mins

You need a PH.D in driving to move it out in 5mins. Not even Hamilton, the formula one chief can

@Lalasticlala
@Seun

One word for him

Hey Op, I spent 8 years in banking and had my MBA and M.sc while working. and finally resigned when i was ready to take on my world. Always note that most bosses won't just allow you stand up to go pursue higher studies in Nigeria and its largely out of envy. Don't blame them. most of them ended in B.Sc and have spent 15 years without any addition.

I am aware that every bank in Nigeria has perrsonal development policy. the challenge is that most people won't read the policy of the bank till they leave. Your boss is not doing you a favour by allowing you. its your right.

look at your policy carefully or call someone in your HR and inquire what the education policy says. get the clause and paragraph where its stated and apply for your leave. If he/she won't allow you. Attach the clause and escalate.

Education policy globally is 13 days leave. Just exhibit your right but add no attitude to it.

Goodluck

Can Bokoharam be stopped? Yes.

Will it stop? No.

We all know why

RIP

megamank:
Why wouldn't u call food that people want to eat rubbish...u are so rich and God has provide Good food for u doesn't make other peoples meal rubbish. He that is up should be careful less he falls.

Mr preacher, mind your business. The rubbish i mean is not the rice or its quality but how its exposed to bacteria and uncovered. Recieve sense for understanding.

zekki:
PMB is a practising Muslim, He can never embrace gay marriage.

I have lived up north bro.
They are more gay than any region in this country...ask arround.

We must be extremely close and the table neatly set for me to eat in any event.

I make sure my stomach is full before i leave the house or branch restaurant and eat well.

Imagine the rubbish and people will fight over it.

Great men have passed through this earth.
I will not die unnoticed.
Generations will know i came.

How can i come and go just like that.

Never.

Ok

Hmmmm.

Boko-are-rams can use anything.

But why will the police officers be searching with bare hands, no gloves at all. You go to our hospitals you see doctors and nurses touching you with no hand gloves. Please wear gloves, i have no idea the infections you carry and you dont know me.

So if this boy was wired, this is how you will be romancing bomb till it goes off on you.

Kontinu officer, hell is not full