₦airaland Forum

https://www.premiumtimesng.com/news/top-news/517128-more-nigerian-banks-limit-foreign-currency-spending-on-naira-cards.html

More Nigerian banks have reduced their monthly international spending limit on naira cards.

The banks informed their customers they were reducing the limit from $100 to either $20 or $50 a month.

It means customers would not be able to use their naira debit cards to pay for any transactions more than $20 or $50 in a month. It is an indication of the banks’ struggle with scarcity of foreign exchange.

The United Bank of Africa (UBA) was first to take the decision on February 24 when it announced $20 as its new limit.

“In line with our promise to keep you updated on services, we have reviewed Naira Card limits for international transactions, and this will take effect 1st of March, 2022,” the bank said.

“Remember you can use your UBA Dollar, Pounds or Euro Card for international POS, ATM and web transactions. If you do not have one and would like to subscribe, please visit a branch close to you.”

On Wednesday, Zenith Bank informed its customers that it was reducing its international spending limit on its naira cards to $20 and it was suspending international ATMs and point of sales (POS) transactions.

On Friday, First Bank announced that due to “current market realities on foreign exchange,” it had reduced its spending limit to $50.

More banks followed on Saturday, also citing recent economic realities.

Guaranty Trust Bank, Sterling Bank, Union bank said their new limit was also $20 a month.

Wema Bank went a step further and said it will end its cross-border payments with Naira cards starting March 14.

Nigeria has suffered an importation-fuelled foreign exchange crisis for years, but the scarcity worsened in 2021 with Naira crashing over 30 per cent in one year.

As of the end of February, Nigeria’s foreign reserve fell to $39.86 billion, compared to $40.04 billion recorded as of January ending.

https://punchng.com/banks-tighten-forex-access-as-reserves-hit-seven-month-low/

The country’s external reserves hit a seven-month low after falling to $38.57bn as of May 25, 2022, figures obtained from the Central Bank of Nigeria have revealed.

Findings have shown that the continuous decline in the country’s external reserves used to defend the naira value is making the banks tighten access to foreign exchange to travellers and other legitimate users as scarcity bites harder.

According to figures obtained from the CBN on movement in external reserves, the reserves which had been fluctuating for weeks now, experienced its lowest of $39.01bn and $38.39bn on October 10 and 8, 2021 respectively.

Due to scarcity, many banks are extending waiting period to access forex for foreign trips, thereby denying travellers with urgent trips access to apply for Personal Travel Allowance or the Business Travel Allowance requests.

The banks have also been reducing the amount a customer can spend on the cards in dollar terms.

Ecobank Nigeria on Sunday explained its current stand on retail foreign exchange transactions for international school fees, accommodation and upkeep payments as well as PTA/BTA requests.

The Head, Consumer Banking, Korede Demola-Adeniyi, Ecobank said, “Due to current market trends, we require a 30-day window to complete requests for school fees, accommodation, and upkeep.”

He said part of the process involved a review of all documents to ensure compliance with regulatory requirements.

The statement added that “In order to ensure smooth service and allow disbursement of PTA/BTA within the timeline, we request that applications are submitted with the required documentation.”

Access Bank also explained its stand in a mail to its customers on forex needs for international school fees, upkeep payments and PTA/BTA requests.

It stated that, “All requests are reviewed to ensure that they meet regulatory requirements. In addition, due to limited forex availability provided by the Central Bank of Nigeria, we require a 30-day period to fulfil requests for school fees, upkeep and rent payment.

“However, for PTA/BTA, we request that you submit your application 14 days before your proposed travel date to allow disbursement within the timeline.”

First Bank had earlier notified its customers of cut in dollar access in a mail titled, ‘Reduction of naira card cross border rate to $20’.

“Due to current market realities on foreign exchange, we’ve reviewed cross border transaction limits for the Naira Mastercard, Naira Credit Card, our Virtual card and Visa Prepaid Naira card further to $20 monthly. This will take effect on 1 April 2022. Also, International ATM withdrawals will not be allowed with our Naira cards at this time.”

The CBN Governor, Godwin Emefiele, while giving reasons on dwindling reserves at the last Monetary Policy Committee meeting, noted that the gross external reserves declined moderately from $39.28bn at the end of March 2022.

“This was attributed to the weak accretion to the reserves from exports and the high cost of importation of refined petroleum products,” he said.

A past President, Association of National Accountants f Nigeria, Dr Sam Nzekwe, said politicians were mopping up the forex for their campaign.

He said, “Part of the reasons why there is no forex is the activities of the politicians. They cannot carry huge sum of naira to spend for delegates so they have changed all the whole money into dollars.

“You will see that after all the primaries, the dollar will come down. The banks don’t have dollar to give to genuine importers. Also, the speculative activities on forex are not helpful. Nigeria needs to be productive to earn more forex.”

According to him, external and internal volatility are having effects on the forex.

Mention one abnormal thing Nigerians do in business, and they think it's normal. 🤔

Ishoola:
I finally port to airtel after when MTN increases the price of their data plan 5k for 15gig... I am currently rocking airtel on 1.5gig for 300naira weekly... The data Seems to last on 3g from yesterday to today I have not consumed 500mb... I am surprised.... I will keep using airtel for now

That is how they treat new customers. Soon Airtel will make u pay back all u are currently enjoying.

No matter who becomes the next President of Nigeria, I will still be smoking my weed, E no just concern me.

ghettokid1:
http://saharareporters.com/2022/06/20/former-nigerian-military-ruler-abdulsalami-abubakar-flown-abroad-over-ill-health#:~:text=Former%20Nigerian%20Military%20Ruler%2C%20Abdulsalami%20Abubakar%20Flown%20Abroad

Former President who could not build a world-class hospital here in Nigeria has been flown abroad. May he never return to Nigeria alive.

Odua1stson:
who cares...... On Tinubu's mandate we shall stand

You can stand on a shaky mandate. Who cares?

NZEOGWU CLAIMED 1966 COUP WAS TO CLEANSE NIGERIA OF ‘FILTH, CORRUPTION’ says IBB

Former Military Head of State, Ibrahim Badamasi Babangida, IBB, has disclosed what Kaduna Nzeogwu said after executing the 1966 coup that killed the Northern Premier, Sir Ahmadu Bello, and his wife, Hafsatu. Babangida said Nzeogwu, who described the coup as Operation Damisa, called it a “necessary ‘service to our country’ to rid it of all its filth and corruption.”

Nzeogwu, a Lieutenant-Colonel in the Nigerian Army, played a leading role in the 1966 Nigerian coup d’état, which overthrew the First Nigerian Republic. On January 15, 1966, Nzeogwu led a group of soldiers on a supposed military exercise, taking them to attack the official residence of Sir Ahmadu Bello in a bloody coup that saw the murder of the premiers of Northern and Western Nigeria.

The Prime Minister, Abubakar Tafawa Balewa, a federal minister, Festus Okotie-Eboh, and top army officers, mostly from the Northern and Western regions of the nation, were also murdered.

However, Babangida, in his book A Journey in Service, wrote: “Later that morning, acting, presumably, as the leader of ‘the Supreme Council of the Revolution of the Nigerian Armed Forces,’ Major Nzeogwu addressed all officers in Kaduna at the Brigade Headquarters. “Looking quite ruffled, with his neck and left arm bandaged, Nzeogwu, in a speech in which he referred to us as ‘comrades,’ informed us that the military had taken over the government of Nigeria and that he had secured Northern Nigeria in the name of the Supreme Council of the Revolution. He then appealed for cooperation and understanding from all the officers present. “At a subsequent press conference, Nzeogwu elaborated on what he described as Operation Damisa (Damisa being the Hausa word for the leopard, which never changes its spots), describing the operation as a necessary ‘service to our country’ to rid it of all its filth and corruption. “Later in the day, the gory details of what had happened — not just in Kaduna but in other parts of the country — started to emerge. In Kaduna, the Premier, Sir Ahmadu Bello, his senior wife, Hafsatu, his senior assistant security secretary, Malam Ahmed Ben-Musa, Ahmed Pategi, a government driver, and the head of his bodyguards, Zarumi, had all been killed before the break of dawn. “There were other killings in Kaduna. The Commander of the First Brigade of the Nigerian Army, Brigadier Samuel Ademulegun, and his pregnant wife, Latifah (whom every senior officer jocularly referred to as Sisi Nurse), were gunned down in their bedroom. Not far from their residence, the Deputy Commandant of the Nigerian Defence Academy, Colonel Raphael Sodeinde, was also murdered. “Outside Kaduna, the story was duplicated in Ibadan and Lagos. In Ibadan, the Deputy Premier, Chief Remi Fani-Kayode, was arrested and detained. The Premier, Chief Samuel Ladoke Akintola, was not so lucky. The coup plotters killed him after he tried to put up a fight. The Lagos scene was just as horrific. “Apart from Prime Minister Sir Abubakar Tafawa Balewa and Finance Minister Chief Festus Okotie-Eboh, who were kidnapped from their residences and later murdered, much of the leadership of the Nigerian Army was wiped out.”

DMerciful:
Hopeless youth shapen in corruption

The Labour Party (LP) is a social democratic political party in Nigeria. The party was created in 2002 and was previously known as the Party for Social Democracy (PSD) before changing its name to the Labour Party. Built on the ideology of social democracy, the party aims to promote and defend social democratic principles and ideals for the purpose of achieving social justice, progress and unity.

Odua1stson:
Emi lokan 1
Asiwaju of Nigeria
Jagaban of Africa
On your mandate we shall stand
May God continue to bless and protect our incoming president, Maxi Okechukwu Bola Tinubu

Those who will soon decamp to Labour Party

1. Yemi Osibande
2. Onyensogbu Nyesom Wike
3. David Umahi
4. And every other disgruntled elements in PDP and APC

PetroDolla2020:
What has the “smallness” of a country got to do with the value of its currency?

I too was surprised at the comment ooo

More Secrets of Mr Peter Obi Unveiled

By Igbo Kwenu

APGA cannot mourn the exit of Mr Peter Obi with all these secret findings surrounding him.

1. Those who knew Peter Obi will attest to the fact that he has been a drug dealer beginning from his days as an undergraduate at UNN. He was hardly attending lectures and only managed to graduate with a third class in Philosophy after spending 12 years in the University.

2. His brother in-law who incidentally is one of the hirelings used by him for his nefarious drug trafficking business is currently languishing in jail in far away London . This is the major cause of strain between Obi and his in-laws. It is on record that his closeness to Dubem Obazie was the because he Dubem served jail term for drug trafficking because of Peter.

3. Obi should explain his relationship with former Military Administrator, Governor Ibim Princewill and Col Earnest Kizito Attah of Cross River State whom he helped as a conduit to fleece Cross River State government thus contributing to the under development of the state.

4. Obi should explain to Ndi Anambra the circumstances surrounding his father's death which remains his best kept secret. Before then we can reveal that Obi's father was drowned to death by Obi's associates in the drug trade whom he short-changed in a business deal prompting the mafias to kill the old man whom they drowned bounded hands and feet with bricks round his neck.

5. Given the level of insecurity in Anambra state , ''Saint'' Peter Obi should explain how he expends his security vote since it is on record that he collects over 470 million naira per month as security vote (220 million naira from Local Government and 250 million Naira from the state FAC accounts)

6. Just as Peter Obi professes his Catholicism for political expediency, we ask him to summon the moral courage and explain to Catholic faithful his relationship with the Olumba Olumba Obu (OOO) Cult sect where his wife is a known member. It is also on record that Peter Obi met the wife at a night club in Auchi . The lady had two children from two different men -an Albino and a Ghanaian. The affirmed Catholic is yet to wed his wife in the church.

7. Obi is yet to explain the mystery behind the 250 million naira that was found in the possession of his aides. He is yet to produce the contractor and publish the contractual agreement that stipulates that this very contractor will be paid in cash and also a reference to any other known precedents. Not even the famous late Barkin Zuwo of Kano State paid contractors in cash.

8. Obi should explain why he has continued to loot the resources of the state using his brother, Ndibe Obi, Ejike Onwusogbulu and a certain Chidi Agbapu -a Lagos based stock broker as a conduit for money laundering while the youths in Anambra remain unemployed;

9. Obi was elected governor on the platform of APGA and it is on record that he never convened an APGA meeting thereby destroying the entire party structure. Obi should explain to party faithfuls and loyalists why he destroyed the party;

10. Obi should explain to Ndi Anambra what happened to the state local government allocations and why Anambra under Obi is the only state in Nigeria without elected local government officers in place?

In view of the foregoing, we demand his immediate resignation or face further disclosure of his criminal past and present.

Edwin Chukwujekwu
Chairman

Nonyelum Nwokoye
Secretary

Odiegwu !!!

*NSCDC Officials 'Steal N2m Meant to Buy Votes for APC Candidate' in Ekiti*

*PRAYERS FOR DADDIES ALONE*

As we mark the 2022 Fathers' Day, it's imperative we pray this prayers from the depth of our hearts..

I delete my name from the generation of men who labour and die at the beginning of their harvests.

I delete myself from the order of men who work and another enjoys their labour.

I belong to the order of men who live to a full ripe old age.

I belong to the generation who sees their children's children up to the fourth generation at least.

I belong to the generation of men who will not die without fulfilling the Lord's counsel and purpose for their lives.

If you believe in this confession of faith, please bless others with it.

Blessed fathers.. Personal pronouncements:

1. God will make me the Father of my children till my last breathe.

2. I shall not bury any of my children. I shall see my children's children..

3. The death that
snatches children
suddenly will not know my abode.

4. This year 2022 will not swallow me
and my family by God's grace!

5. My children, my wife and I shall be shielded from evil and evil doers.

6. My sons & daughters
will not marry my
enemies & their spouses
will be my best friends.

7. My children's food will not be bitter in my mouth.

8. My songs of glory will not be sang by another person.

9. A minute of silence will not be observed for me on the day of my children's wedding.

10. My last name and title will
be great grandpa.

Please send the prayer
points to Daddies you love.

Obi did not issue any reply to Fr. Mbaka

Our attention have been drawn to a statement credited to Mr. Peter Obi as his reply to Fr. Ejike Mbaka.

We wish to state for the record that Mr. Peter Obi did not and is not planning to issue any reply.

We advise that any medium trying to publish such an unsigned letter should clarify its authenticity from Mr. Obi’s Media Office.

Thanks

Valentine Obienyem
Media Adviser

A CATHOLIC PRIEST REPLIED FATHER MBAKA ON PETER OBI'S STINGINESS.
Rev Fr Oluoma of Catholic Archdiocese of Abuja had penned an iconic reply to Fr Ejike Mbaka allegations that Mr Peter Obi is not fit to be the President of Nigeria because he is stingy. Read the article below
*************************
I love this STINGY MAN who gives money to the right people.
I love this STINGY MAN who doesn't drink champagne with the public fund but uses it to improve their lives.
I love this STINGY MAN whose integrity is topnotch and who can't be deceived into showing off in the public.
I love this STINGY MAN who loves the poor masses more than himself...
I love this STINGY MAN who has refused to collect pension from the Anambra State government since he left. This is what those people who are seen as givers do.
I love this STINGY MAN for coming out to save the ordinary Nigerians.
Mr. Peter Obi the truth is that we DON'T DESERVE YOU but in all your dealings may the Heavens bless and enrich you.
I am a Catholic Priest and I pray too. May these blessings follow you child of God.
Peter is Better!
#Fada_Mentor
LET'S SHARE THIS TO THE WHOLE WORLD

BIANCA OJUKWU ON PETER OBI'S FRUGALITY

Sometime in 2009, ‘Mr’(as he preferred to be addressed) Peter Obi, Governor Of Anambra State at the time, visited Dim Chukwuemeka Odumegwu Ojukwu and myself at Dallas, Texas. He came to deliver a get well message from Dr Goodluck Jonathan and was billed to attend a black tie event at the Dallas Marriot.

Curiously, he flew into Dallas airport with one small carry on luggage which he insisted on wheeling around himself, and on getting to our residence requested to freshen up. He opened his carry on, filled with files and paperwork and a few toiletries and an extra shirt, when the Ikemba and I asked if he was expecting another item of luggage, and he said no.
‘Then, what will you be wearing to the event tonight?’, we inquired. Then, it struck him that he couldn’t show up in his casuals at such a ceremony. I insisted on taking him to the luxury men’s emporium at Nieman Marcus to buy a smart black suit.

When we got there, he was busy doing the currency conversions. The suit that was a perfect match for him was a dapper Tom Ford suit with a price tag of 3,985 dollars plus tax. He did the calculations and told me ‘do you know how many students this amount of money can train in Nigeria?’ I reminded him that he was the governor, and for the caliber of guests expected at that evening’s event including the mayor, senators and captains of conglomerates, he needed to be dressed in top form.

To cut the story short, he refused to pay what he termed that ‘outrageous’ price for the suit and that was how we ended up at Steinmart where he agreed to pay a more acceptable price of 220 dollars, tax inclusive for a basic men’s suit which he was happy to wear to that evening’s event.

What struck me, was that as we were on the way to the airport to see him off for his return flight back to Nigeria, he reached for his pocket where he brought out an envelope of crisp hundred dollar bills. The amount in the envelope was 3,800 dollars. He said ‘ Anyanwu, this is the balance of the money I would have paid for the ‘Ford’ suit. If the label on the suit was ‘Peter Obi’, I am wondering if anybody in America will pay that amount for it. I have deducted the amount we paid for the suit we eventually paid for. Please use this balance for your Charity foundation to help those in actual need. I trust you will do so’. We all laughed heartily. Vintage Peter Obi!

The eventual beneficiaries of that Largese were Madam Theresa Agbo, a yam seller who was displaced when her shed was gutted by fire, Callistus Egbe who was bedridden due to illness, and needed help with the school fees of his young children, and the Mgbemena family of six who were thrown out of their accommodation (which we subsequently doubled to two rooms) because their breadwinner fell upon hard times and could no longer afford the rent.

In Life, You either live by a creed or you desecrate the mould by which the Almighty created you. Any progressive nation measures an individual by his values, not his vaults.
If this way of life is what is derided as ‘stinginess’ on the part of Peter Obi, then we all need to adopt this mould for a more sustainable and more humane environment.

Iyom Bianca Odumegwu Ojukwu
16 June 2022.

Mohammed Sanusi Wrote:
“One peculiar thing about the top three guys battling it out for the 001 seat, is that neither of them is there for the money.

1. One has milked Nigeria well enough systematically, and just wants to answer President by all means.* *He lives in Dubai full-time and only comes around every 4 years to contest for the Presidency.

He doesn't understand the struggle of the average Nigerian. He doesn't care so much. If he loses this one, he will go back to Dubai and wait out the next 4 years before coming out again.

Besides the fact that his ambition is scary, we can't afford to have a Paul Biya of Cameroun as President.

2. Another has been controlling Lagos treasury since 2003. He just wants to fulfill his lifetime political ambition of answering President, even if he dies the next day after swearing-in.

He would properly share Nigeria like cake to his boys....just like he did in Lagos. At the end of the day, he would teach us what being "fantastically corrupt" actually means.

3. The other was already a billionaire before 2003, and quite content with himself. He doesn't need your money for anything. He wants to be President to reset things and lay the foundation for systemic governance in future.

He relates with the struggles of the average Nigerian, understands what Nigeria needs, and has volunteered himself to save us from impending catastrophe. Win or lose, he would most likely not contest again.

It is up to us to choose wisely.”

~ Mohammed Sanusi �

#NIGERIANS

ATIKU Scored 371 votes.

Psalm 37:1 says "Don’t worry about the wicked or envy those who do wrong, for like grass they will soon wither, like green plants they will soon die away

TINUBU Scored 1271 votes.

Psalm 127:1 says "Unless the LORD builds the house, the builders labor in vain. Unless the LORD watches over the city, the guards stand watch in vain."

Obi got 96 votes to win Labour Party ticket

Psalm 96:

1 Sing to the Lord a new song;
sing to the Lord, all the earth.
2 Sing to the Lord, praise his name; proclaim his salvation day after day.

OBI has been destined. Nigeria's salvation is here. Obi is the new song

Nigerians ��� Go get ur PVC Government no be scam.

Today, Igbos all want President or Vice President. Every discussion about Biafra, IPOB, Nnamdi Kanu etc has died a natural death. To be resurrected if they lose the President or Vice President role.

agadez007:
I wanted to answer your question but on opening the thread and seeing yours other comments,I will pass
This early Sunday morning,you are looking for trouble later they say Peter Obi supporters are violent and insultive

Go ahead and answer.

Most confused people

Most unstable tribe

What do Igbos of SE really want? Biafra, President, Referendum or Restructuring?

What happens if Tinubu dies before 2023?

Fahdiga:
How I wish that Obi and Kwankwaso can do a collabo to retire these old two thieves

I will suggest that Peter Obi and Kwankwaso should swear a binding agreement.

Peter Obi becomes the President now and Kwankwaso becomes the Vice President for only 1 term of 4 years. After 4 years, Kwankwaso becomes the new President and the Vice President becomes Peter Obi or any other person appointed Peter Obi.

We have to be realistic here. Kwankwaso is actually too influential to be the Vice President of Peter Obi, but for the sake of equity and fairness to the South East, let it be so for only one tenure.

gregyboy:
I am from Edo state, benin precisely.
over here everyone is supporting obi i feel edo state is the most obident state in the south

Tinubu would get the least support and disliked by many over here, everyone here thinks little of Atiku no knows anything about Kwan Kwankwaso


so what's yours....?

I am from Adamawa State and presently living in Lagos State.

I and my extended family members are all voting for Peter Obi.

majamajic:
Yes , if u can manage it . I finish mine in a day . But it's complete 1gb

It is designed to be finished in a day

majamajic:
MTN 200 for 1GB , is ok . 7 days plan

Does it usually last for the 7 days?

donbenie:
#1.5K for 7Gb for week..

Mtcheew

Talk of monthly plan joor.