₦airaland Forum

lokzie: I really think i should clarify this. i don't TOTALLY agree with Spencer and slamdunk, and i hope i am allowed to. i will do this in a civil way.

[b]Background: Invisible transfer: normal transfer any customer makes to any beneficiary without disclosing the full details of the transfer
Visible transfer: transfers for payment of invoiced goods and services - You can use a FORM A (for school fees) or form M (for payment of imports and all)

We are concerned with School fees so i will explain how and when we can use either of invisible or visible transfers for this but first, There is an existing CBN regulation that limits weekly international funds transfers to USD10,000 per individuals and states that any cash lodgement of >= USD10,000 can only be withdrawn by OTC (over the counter) transactions. ie. for a visible transfer, once i pay in USD10,000 CASH or more through ONE deposit slip, i cannot transfer that particular fund, i must withdraw it over the counter. ways around this is by breaking the payments into parts not exceeding USD9,999.99 each but please note even with this you can only transfer only a maximum of USD10,000/week.This means that if you must do it this way and you want to pay say USD15,000 then week 1 transfer USD10,000 and after that week you can do the next. Week in the case means Mon-Fri so you can transfer on firday like today and then on monday next week.

Form A (visible transfer) you need to fill out a form A @ your bank and provide the invoice/ bill the school gave you for your fees, if you are an undergrad, provide the bank with you O'levels, postgrad a copy of your undergrad- These are CBN policies and any bank that circumvents this would be penalized if CBN detects this.

My conclusions: CBN policy doesn't hinder anyone from paying school fees even if it is USD75,000 for Harvard MBA. Also, the weekly limit was relaxed recently but the Banks have to get approval from CBN for pre-listed customer's who require weekly transfers over USD10,000.

Note: if the lodgement into an account is an inflow (wire transfer) you can transfer any amount even with an Invisible transfer means.

Cheers

Don Cipher: @lokzie been a while...

bigtt76: PHCN do not shut power off during the rains rather the in-built circuit breaker on the grid system turns off. This is as a result of the live wires touching each other or rain droplets (water is a good conductor) which when drops on exposed transformers. I deduce this from the fact that, sometimes during the rains, you still have power even during storms and at other times you see it flickers with the wind. This is not discounting the fact that they purposely turn off the grid to prevent the dangers of electrocution from fallen poles and wires. Saying this, we've had cases of people being electrocuted after the rains from fallen cables .....I see no sense in 'preventive' switching off the grids if there are no system in place to detect such breaches in safety.

acca12: hello house,

i need your help ooooo, i am a self sponsor applicant, already paid half of my tuition. i have 3.5m in my account but the account was not run properly, will like to know if i can do a fixed deposit and present that instead of statement of account.

oreajayi: All glory to God. Trv issued today.

spencer3705: ignorance of law is not an excuse.thank God u scale through.i understand ur point very well abt the issue of money laundring bla bla cos av passed tru dis stage.d fact remains dat d maximum u can transfer is 5kdollars with 2 percent charges on it.if u wana transfer 10k dat means u split by sending it twice.it goes like dat.people have been sending 15k dolls without coming up wit bank restriction like ur case.d bank is aware dat d money is for ur tuition and is meant 4 a real purpose.in my own opinion,i doubt ur point and i can stand dat u were unable 2 pay full cos u cudnt meet up due to certain reason best known to u.guys please dnt buy dis idea by teling cdhc money laundring of a tin cos dat wudnt solve isue.if u plead dis and some1 comes up by payin 13k full tuition receipt and tenders it to cdhc,havent u implic8td ursef already? "A word is enof 4 d wise"

Dalriada1: Good day my people, please I need your assistance. I am applying from outside country. Someone said I need to fill details of NYSC in the form 1294E under background information.
Is this necessary as I do not see NYSC as a military service? Kindly respond. Thank you.

frankysteve: @lokzieI submit my application to VFS on the 31 of July.Am still waiting for them.

spencer3705: Hello house

my status just changed to your application has been accessed by cdhc and now return to center of submission.i wud keep u guys posted as soon as i come back from vac.1luv

frankysteve: @lokzieI submit my application to VFS on the 31 of July.Am still waiting for them.

yungokus: @lokzie when did u submit your application to VAC or when did your processing start @ d embassy

AugustApplicant: Thanks Jare. Mine is just 5weeks, I should worry less. Submitted August 31st

kennyGGG: Mr what haven't you heard before that its me that must tell you? I uploaded it for all to see. Not sure I have seen anyone did that. pls pls pls

lokzie: Not sure when it did but it was there in August and is currently on the CDHC site. i know some people download the documents and gather all they need before they meticulously fill out forms and arrange their documents. All i'm saying is check to make sure the forms you are about to submit are not obsolete. yungokus the current IMM 1294 should have 'IMM 1294 (07-2012)E as a footer on the pages. you can check to make sure ALL the requisite forms you fill aren't obsolete.

Cheers

yungokus: When did this come out?..