₦airaland Forum

Godmother:
Tie it down in treasure bills with First Bank (they offer a good interest rate 9.75% last time I checked). The interest is not much if you look at it, but its money earned while you do nothing and it has a very low risk factor

I guess the 9.75% is for 3months and that rate isn't fixed but still a good idea anyway atleast slightly higher than fixed deposit.

You can trade with it.

RIP

EggovinMma:
THEY SHOULD RIP!

Why Don't you believe in Miracles

bigmodo:
What do you mean by the funds i intend to wire out currently in my domiciliary account? They dont accept me to pay dollar into my domiciliary account, so there is no way i put dollar in it and wire it out.

That's part of the reasons why you are having problem because you want to wire funds out using the old style of doing it which is no longer possible due to restrictions. Buy dollar via online inflow and once it hits your account,you can do your wire transfer easily without any problem atleast i know it happens with Zenith,Diamond,Union and other banks. Even GTB i believe will gladly do that for you if you have genuine reasons for the outflow and if the inflow wasn't cash deposit. I suggest you contact your account officer for more info.

inihood:
i know. my dollars will no longer enter nigeria, i am ok with BofA

inihood:
i asked the guys behind the counter but they refused to tell me why i can't but they can!

The banks are making money from them. If you have an inflow credited to any of your Dom account and you want to sell,the Mallams will clear it immediately even if it's in millions. They may buy @ #230 to $1 and resell @ #240 to $1.

inihood:
the exact same thing i wanted to do, initiating the transfer directly from their gtbank account with instant crediting of customer account in exchange for naira and vice versa!

Ok...one question you should ask yourself is since the banks are refusing to initiate transfers for customers as they say,how are the Mallams getting inflows to do this business? That's why am insisting that this things are going on but not open to the public. When dealing with them,Just ensure you confirm wired funds first before releasing the equivalent to them. That's how business men are surviving

inihood:
I see mallams doing it daily in the branch i use! and they said the transfer is instant at 238 to 240! but that is way too much!!

Yes Mallams are into this big time. The Mallams you see doing this,are they initiating the transfer directly from their own accounts or buying foreign exchange from customers and crediting the Naira equivalent?

modath:
@Eyop @ inihood
Stanbic too does not allow intra bank transfers , inflow or cash, doesn't matter...

That's what they will always say even though i don't know of Stanbic but be rest assured that some customers in that same Stanbic are getting it done only if the funds to be wired out came in as an inflow and not cash deposit. Union Bank said the same thing but an intra bank transfer was done but it was sent out to the United States and not within Nigeria.

bigmodo:
Sure i do. But they say they dont accept dollar anymore.

Yes they don't accept dollar anymore but the funds you intend to wire out currently in your Dom account?

inihood:
On another thread I see you asking the OP if he has a dom account with GTB

The bank that rejected a dollar transfer from one account to another is none other than the same bank and gave the reason above.

I would have thought as you hence my question was, when you do such a transfer as above what reason do you give that makes it to be accepted by their FX OPERATIONS?

Please note that the funds were not OTC but inflow from overseas!

Yes the reason why I asked the OP was to ascertain whether it was rejected on the grounds that he doesn't have a Dom account with their institution or not. This is also not the 1st time of hearing this happening with GTB because I also have an account with them but it doesn't mean it cannot be done as it depends on your relationhsip with your Bank/Banker and also what the wire transferred funds are meant for. Zenith and Diamond Bank does wire transfers for their corporate customers without an issue but before doing so,they will verify the docs presented before going ahead to initiate the transfer.

inihood:
inflow between two accounts in the same commercial bank!

Well I really do not get what you meant but to my understanding,inflows via online transfer shouldn't have an issue. The bank is only against cash deposit which is not even possible now because no bank will receive cash foreign currency from anyone. But if you have received an inflow which was wired to any of your Dom account,you can easily do a wire transfer bank to bank without any problem. It even becomes very easy if it's in the same bank because the corresponding banks wouldn't be playing any role in the transfer.

bigmodo:
bank says they dont accept foreign currency anymore.

Do you have a Dom account with GTB?

inihood:
An inflow i made was rejected,with the following reason: WE ARE UNABLE TO PROCESS YOUR REQUEST AS THE PURPOSE OF PAYMENT CONTRAVENES THE CBN ACT 2007.

Please what reasons can I give that will let the transfer go through?

An inflow or outflow?

Guyman02:
The man who fought gallantly and announced Biafra surrender to Nigeria was the Biafran Chief of Staff General Philip Effiong from the present day Akwa Ibom State.

I know, he was my in law but that's in the past and not in today's Akwa-ibom.

Atlantian:
Who gave the instruction for the DSS to raid a government house of a State ?

Welcome to 1985. But let it be known, that the people of the States, will not allow the slowpoke Federal Government, headed by a nomad to continually encroach on the rights of the people of the States.

We have the rights to seek Secession if we are continually ridiculed. Akwa Ibom State is rich enough to be a country. In fact, that wonderful state provides 60% of the Oil and Gas used in powering this parasitic geographical expression.

Be warned. Next time the DSS attempts that nonsense, they will feel the collective will of the Biafran Allies.

Again, Be warned, Mr. Daura Nomad.

Wetin concern Akwa-ibom with Biafra

I do not agree with you completely on this my able presido.

egesie:
Pls how reliable is the '06/'07 W203 C350 6-speed manual? what are its cons?

Hello..the C350 (268-hp, 3.5-liter) is very reliable depending on your maintenance culture. Once you take care of it,you won't have a problem.

angels09:
be polite I do not owe you a solution!

cococandy:
how?

Your brand,my brand

cococandy:
lol

Coco, you don hit jackpot oh lol...come join the family now

camaro:
That's not a 98 model brah, I would radar prefer the wagon in front of it. The price is on the high side for a 96/97 model

The wagon is a W203 and will definitely not go for even #1.2m. I don't think the price is high for 96/97 model because it depends on certain factors like the condition of the vehicle.

AnneMomoh:
Sister - you mentioned the word “ rich“ about a dozen times.

And sometimes "very" rich

Perfectwazobia:
Is wike better. This is might be the beginning of the end for access bank

And how does it concern access bank

tobimillar:
I thought pythons are non venomous snakes? How did it kill d dog?? Something is not right

Heart attack I guess

EggovinMma:
Sweety sentiments apart, there is no organisation I this country where these things dint happen.Its a man's world, even the brilliant babes at a point get to fuccck a superior to get there.The babe dey try to keep her job, I expect the mumu op to mind is god damn business and face his own job else he will lose it oooooo.Even if i be man sef kon ear say the my smallie for office wey dey give me her kpekus complain say a colleague give her problem, I will sack the niggar straight! Who born am?

mostly if na premium kpekus wey dey make ur body sweet

EggovinMma:
Amebo!
If I am that gurl and I happen to find out you invaded my privacy, I go use that same toto make you lose your job!

I will make sure I Bleep that manager brains off till he is forced you to make you lose your job!Mumu!

Eggovin why now

EggovinMma:
Hehehe, I go for drinks with my colleagues and not for diccks. They are everywhere you know .

Nne,your baby fine oh

justi4jesu:
Nahhhh I don't do scraps

Does that car look scrap to you Na una dey buy awoof for backyard

justi4jesu:
It's a pity....This will go on auction soon.

Na you wan buy am

RIP