Willie2015:


Pls open a domiciliary account ...
Saving or Current type is available ..
Bank will give you a Dollar Card...
Source for your dollars abroad or via Mallam...

Does this option makes sense to you?
There is no reasonable country in the they do this nonsense.

rhames:



Bring in another Soludo to sanitise these banking sector and Send emefiele on exile.

Even if you bring soludo and Ngozi okonjo, they will still be rubbished, the problem is not emiefele but buhari and his economic team, emiefele is just a fall guy who is just paid for his silence, or else they will use him as a scapegoat.

What impact does this have on the country's FX rates and black market?

Does it send a good signal to Foreign Investors?

Are Nigerian banks scared of competition from smaller financial businesses?

Clueless Emefiele

Chizzyjforce:
Unfortunately, I'm not an economics guy so I can't say if this is good or bad. I failed economics from ss1 to ss3.

I have interest in FinTech though, my app will soon be out for all Nigerians, I'm sure you all will like it.

You filed econs and you have interest in fitntech, did you restudy?

Lestatdelioncou:
>:
When this Buhari 's government steps down, every single person who worked with him should all be rounded up and shoot in a public execution

I'm telling you, that would be perfect judgement

MuslimIgbo:
CBN, the corporation headed by corrupt BASTARDS, and making life difficult for Nigerians.

Your ATM debit cards are very useless because of CBN. You can't use it purchase or make payments of anything online besides local platforms.


NO PAL,

NO STRIPE

NO SKRILL

NO AMAZON PAY

NO APPLE PAY etc.

Nigeria doesn't have enough dollars in reserve to allow these payments methods.

For example, if you buy something on Amazon using your naira visa/MasterCard, your bank will have to send equivalent dollars to Amazon through the CBN. Oil thefts & a host of other economic problems have resulted in Nigeria not earning enough dollars for several years.

If CBN allows the type of transactions you listed, Nigeria's dollar reserve will reduce faster. This will cause Naira's value to fall even more. This will also mean CBN interest rates will have to rise from its current 15.5% towards may be 20% or more, thus pushing commercial bank interest rate close to 30%. This will lead to more businesses closing, and more unemployment. More unemployment means more crimes. More crimes means more societal collapse & chaos.

That's why the CBN is banning payments for foreign transactions with naira cards. To preserve our dollar reserve.

Why is this country bent on taking decisions that will frustrate and hold back her citizens?

WhizdomXX:

You filed econs and you have interest in fitntech, did you restudy?

If you construct a good English Language, maybe I'll answer you. Thank you.

Chizzyjforce:


If you construct a good English Language, maybe I'll answer you. Thank you.

Failed and relearn, happy now?

Get yourself usdt…..crypto is the future. Join my trafing group for free…telegram. https:///tradingprofutures

IgiveLadiesBj:
No wonder Wise is stopping transactions to Nigeria.

Make 2023 reach make them just comot this Emefiele

Thanks for explaining it this way.

While it sounds like a good move…


Why aren’t they tackling the main issue at hand?

I mean the oil theft, corruption, and several other issues that’s stopping the country from increasing her current USD reserve?

Rather than making life difficult for people trying to play their little part in bringing USD to the country.

It’s like using cellotape to hold a bridge that’s about to collapse!

DeLaRue:


Nigeria doesn't have enough dollars in reserve to allow these payments methods.

For example, if you buy something on Amazon using your naira visa/MasterCard, your bank will have to send equivalent dollars to Amazon through the CBN. Oil thefts & a host of other economic problems have resulted in Nigeria not earning enough dollars for several years.

If CBN allows the type of transactions you listed, Nigeria's dollar reserve will reduce faster. This will cause Naira's value to fall even more. This will also mean CBN interest rates will have to rise from its current 15.5% towards may be 20% or more, thus pushing commercial bank interest rate close to 30%. This will lead to more businesses closing, and more unemployment. More unemployment means more crimes. More crimes means more societal collapse & chaos.

That's why the CBN is banning payments for foreign transactions with naira cards. To preserve our dollar reserve.

Chizzyjforce:
Unfortunately, I'm not an economics guy so I can't say if this is good or bad. I failed economics from ss1 to ss3.

I have interest in FinTech though, my app will soon be out for all Nigerians, I'm sure you all will like it.

Simple economics wey we dey carry biiiig textbook enter exam hall write nahim u fail?

u gats be arrested!

MichaelSokoto:

Simple economics wey we dey carry biiiig textbook enter exam hall write nahim u fail?

u gats be arrested!

Baad niggur

I don't understand much all these, but make CBN no try anything funny with my account in Standard Chartered Bank

WhizdomXX:

Failed and relearn, happy now?

Alright. I can develop a payment processor (FinTech app) even when I know nothing in economics.

My job is to create a secure gateway for people to make payment online and then collect my commission. I don't need economics knowledge in this instance.

Happy now?

MNTS0:
Why is this country bent on taking decisions that will frustrate and hold back her citizens?

Nigeria does not export enough goods and services to earn the dollars we need to buy from other countries.

If your annual dollar earnings are $25 billion, but you want to spend $35 billion. It can't work na.

Outside of oil (now mostly stolen), Nigeria doesn't produce anything of tangible value that the rest of the world needs or want.

Nigeria is like someone on minimum wage that wants to live a middle class life. Hmm.

DeLaRue:


Nigeria doesn't have enough dollars in reserve to allow these payments methods.

For example, if you buy something on Amazon using your naira visa/MasterCard, your bank will have to send equivalent dollars to Amazon through the CBN. Oil thefts & a host of other economic problems have resulted in Nigeria not earning enough dollars for several years.

If CBN allows the type of transactions you listed, Nigeria's dollar reserve will reduce faster. This will cause Naira's value to fall even more. This will also mean CBN interest rates will have to rise from its current 15.5% towards may be 20% or more, thus pushing commercial bank interest rate close to 30%. This will lead to more businesses closing, and more unemployment. More unemployment means more crimes. More crimes means more societal collapse & chaos.

That's why the CBN is banning payments for foreign transactions with naira cards. To preserve our dollar reserve.

Who is DECEIVING you.

Even when they're DECEIVING you, should you be deceiving yourself?

Nigeria receives millions of dollars DAILY through oil explorations.... WHO TOLD YOU WE DON'T HAVE ENOUGH DOLLARS?

your explanation makes lots of sense, but here is the reality before us, can we live without these services?

DeLaRue:


Nigeria doesn't have enough dollars in reserve to allow these payments methods.

For example, if you buy something on Amazon using your naira visa/MasterCard, your bank will have to send equivalent dollars to Amazon through the CBN. Oil thefts & a host of other economic problems have resulted in Nigeria not earning enough dollars for several years.

If CBN allows the type of transactions you listed, Nigeria's dollar reserve will reduce faster. This will cause Naira's value to fall even more. This will also mean CBN interest rates will have to rise from its current 15.5% towards may be 20% or more, thus pushing commercial bank interest rate close to 30%. This will lead to more businesses closing, and more unemployment. More unemployment means more crimes. More crimes means more societal collapse & chaos.

That's why the CBN is banning payments for foreign transactions with naira cards. To preserve our dollar reserve.

Does this mean Standard Chartered Bank can't operate here anymore? I have small change in my SCB account.

MuslimIgbo:

Does this option makes sense to you?
There is no reasonable country in the they do this nonsense.

This is the CBN policy and FG stance.
I have a business to run in Nigeria.
You either wail ...close your business or find an alternative...
D alternative is to have a Dom Account and a Dollar Card...
It is stupid simple and makes business sense.

Thank God for cryptocurrency

The problem is, politicians can't come on TV and explain the dire situation clearly to Nigerians.

Nigeria is in a mess of its own making, and don't blame the current government alone.

The structural problems in the economy can be traced to Gowon's government, immediately after the civil war.

We buy, buy, buy, but we don't produce, produce, produce.

What result do we expect.

IgiveLadiesBj:
No wonder Wise is stopping transactions to Nigeria.

Make 2023 reach make them just comot this Emefiele

your name is on the notice remove it

Ganjafama:
Does this mean Standard Chartered Bank can't operate here anymore? I have small change in my SCB account.

Standard Chartered will operate like any other bank na.

That said, Standard Chartered must regret the decision to return to Nigeria.

They have steadily closed most of their branches over the past few years, with only a few left.

Right now, they have their tail between their legs, completely humiliated in the Nigerian market.

I doubt they have ever made a profit here.

Local banks will cut corners and do anything necessary to make a profit. Standard Chartered can't do that because they are an international bank and must abide by stringent corporate governance and operating rules imposed from their headquarters in the UK. Even with that, their Nigerian management got them in trouble 3 or 4 years ago
by trying to play like the local banks.

Nigeria is one of the toughest places in the world to do business and succeed. Any wonder many big companies have fled to Ghana which is only slightly better.

Curious345:
Cool . Lots of good policy from the CBN ..

But I still demand the CBN governor be sacked ,for buying APC presidential nomination form, for 100m with CBN money .

Wat was running inside his head when he did it ? Or
Maybe his sidechick told him he was popular and could win ?

but he never came out to declare that he actually bought the form. you people seems to believe everything you read from the media online without weighing other options.

Willie2015:


This is the CBN policy and FG stance.
I have a business to run in Nigeria.
You either wail ...close your business or find an alternative...
D alternative is to have a Dom Account and a Dollar Card...
It is stupid simple and makes business sense.

This is the point. As long as you know it's stupǐd and not what is obtainable in the sane climes, you should always stand against it at every given opportunity.

Don't just accept the shîts they throw at you.

WhizdomXX:

You filed econs and you have interest in fitntech, did you restudy?

through the back door

Like Emefiele'
Like Lawan
Like the minister for finance
Like the humanitarian disaster minister
Like the minister for petroleum


CLUELESS FAILURES!

Starz825:
One thing I realized about this our Nigeria politics wey we dey always yarn for here be say :

*All the things wey obidients dey always talk for here against tinubu/shetima....na true talk ..if you check am well, na true..tinubu is corrupt, we can see him flaunt around with Lagos money and he is also not fit medically..and his vp shetima na bk partner and this a red flag

Funny enough

*Most of the things wey Dem urchins dey talk too about obidatti na still true...if you look well sef....Obi sef no clean.. his past political records has so many hoes in them... To me he turned out to be an incompetent governor during his time in Anambra. So I see people trying to support him out of pity (that the igbos have been marginalized for long and also the obvious fact that we are all tired of the old corrupt guys) regardless of his past records..this is also a red flag....
personally I won't be surprised if he disappoint Nigerians in his first tenure.... (though i believe he can't be worse than buhari)

*No even mention atiku..he is not just corrupt..him na big thief...he will also be very autocratic cos of the years wey he don spend dey find this thing

All of them are same mtcheew, they are all politicians ...... that's just it...

It is what it is sha....
just vote wisely

when all the candidates are corrupt, which kind of vote will be wisely?

Curious345:
Cool . Lots of good policy from the CBN ..

But I still demand the CBN governor be sacked ,for buying APC presidential nomination form, for 100m with CBN money .

Wat was running inside his head when he did it ? Or
Maybe his sidechick told him he was popular and could win ?

Do you even know the implications of this policy?