CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals - Business (6)

CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals - Business (6) - Nairaland

Nairaland Forum › Nairaland General › Business › CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals (49752 Views)

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Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Biola67: 10:53pm On Jun 18, 2023

FatimaAbubakar:
SHUT UP!!! HE SAID THE TRUTH.

Go tell both your family and extended family to Shut up! Your head no correct. Oloshi

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by pocom35: 10:53pm On Jun 18, 2023

9jaRealist:
Exactly what the poor has been looking for…
Breathing space to withdraw $10K per day from their domiciliary accounts.
>

Exactly

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by 9jaRealist: 10:59pm On Jun 18, 2023

Buddha3:
I know, but sadly, this is Nigeria. Our major currency is the Naira. You don't expect to get foreign currency supply in abundance, do you? It is going to rubbish the relevance of our currency and lead to inflation.

You can't go to the USA and walk into any of their banks and expect that you'll withdraw 5million naira over the counter easily. You won't get it. Cause they won't have it. They float and promote their own currency the most.

You Nigerians really have to understand how some of these things work. It's not everytime you read things on the news that you'll rush to leave comments in condemnation of your country. If you reason logically, you'll understand the practicality of these things.

Of course you can go into YOUR bank in the US and easily withdraw up to $10K from your account (which is more than N5m)…
Because your bank already has the requisite KYC information (but is also legally obligated to report “suspicious” transactions).

The CBN’s new daily ‘limit’ of $10K is not arbitrary, but rather the international AML limit, after which tougher requirements apply…
Meanwhile, we should quit subscribing to low standards and lowered expectations embodied in comments such as “this is Nigeria”! SMH
>

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Charisma01: 11:05pm On Jun 18, 2023

AmotekunSW:
Obi is a failure who used 10 years to study a 4 Year course.

We know you enemies of Nigeria don't want anything good to happen to Nigeria that's why you are promoting that idiot.

You will continue to read good news and achievements of Tinubu and you can go to Hell if you're pained.

Hahahahaha
Your rechargeable President that is about to go to France to recharge because of few bills wey him sign cheesy

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by FatimaAbubakar(f): 11:09pm On Jun 18, 2023

Biola67:
Go tell both your family and extended family to Shut up! Your head no correct. Oloshi

THUNDER FIRE YOUR MAMA USELESS TOTO THERE!!! OTUNNE GI. USELESS BASTARD!

1 Like

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by damkin24(m): 11:10pm On Jun 18, 2023

Igwe9:
nothing new, USD deposit was never restricted, has since been lifted. when was that ? Those that were paying N5 for every 1USD received abroad. I have always deposited without any challenges. APC and propaganda,
The one we are looking forward to is naira master or visa card usd paymen

Seems you are bittered somehow. What is the propaganda in those statements by the CBN? Daily USD transactions was $5k before but now raised to $10k, probably that it's the restriction it talked about. Just calm down and hope for good things to come your way it doesn't matter if your favourite is the one ruling or not.

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by TossTos(m): 11:10pm On Jun 18, 2023

inoki247:
Eh eh...

Gradually we are getting dere...

People wey still dey hope on dere Debit card doing international transaction you will soon be getting dat buh guess what na Abokii rate Bank go dey give u...

Make una no go think say na the Arbitrage way like before no more free money na Bank go dey determine the rate nd it won't be different from what any online Dollar Virtual card services are giving you now....

Exactly my point
I've run a check on some online vendor where I can buy low , they've also unified it with our local rate , even more than binance price .. so , i don't see any thing to smile about there ..

1 Like

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Offpointng: 11:16pm On Jun 18, 2023

drizzit:
We need our Naira cards to function for international transactions.....that should be the next logical step for the CBN

Comrade come clean and tell us you want the naira Arbitrage to work again

1 Like

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by FarukuWadata12(m): 11:17pm On Jun 18, 2023

Heffalump:
Buhari set Nigeria backward by over 20 years after serving for just 2 tenures.

The North should know by now that producing the president in Nigeria does not guarantee their strong economic power. I doubt if there's any presidential material from the northern part.

They should better sit back and allow others build Nigeria for the good of all.

I'm curious about why you decided to express such unfounded statement in this forum. Whether we have a good or bad president has nothing to do with being from the Northern or Southern region; it's about an individual's capability. There are many people from both zones in Nigeria who have the potential to be excellent leaders. As a Nigerian, it saddens me to be associated with individuals like you who promote tribalism

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Nobody: 11:21pm On Jun 18, 2023

9jaRealist:
Of course you can go into YOUR bank in the US and easily withdraw up to $10K from your account (which is more than N5m)…
Because your bank already has the requisite KYC information (but is also legally obligated to report “suspicious” transactions).

The CBN’s new daily ‘limit’ of $10K is not arbitrary, but rather the international AML limit, after which tougher requirements apply…
Meanwhile, we should quit subscribing to low standards and lowered expectations embodied in comments such as “this is Nigeria”! SMH
>

Oga, next time read a comment properly before replying. I'm not about to argue with you in a bid to try expressing superior intelligence.

You CANNOT walk into any American bank and seek to withdraw "5million naira" in Nigerian currency, as a Nigerian, and expect to get it. That's what I meant.

The US floats their currency and diminishes the relevance of any other currency, especially within their territory. So for Nigerians to always want unlimited access to the US dollars while living within Nigeria is very despicable. It's like you want the dollars to be in equal supply alongside the naira in our country. Yet you'll be the same person to complain of inflation tomorrow. If you don't understand my point, then I'm done with this conversation.

5 Likes

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Biola67: 11:25pm On Jun 18, 2023

FatimaAbubakar:
THUNDER FIRE YOUR MAMA USELESS TOTO THERE!!! OTUNNE GI. USELESS BASTARD!

E pain the weyrey 😂😂😂 Omo Hausa, go drink cow urine as usual

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by maxiart2(m): 11:26pm On Jun 18, 2023

Igwe9:
nothing new, USD deposit was never restricted, has since been lifted. when was that ? Those that were paying N5 for every 1USD received abroad. I have always deposited without any challenges. APC and propaganda,
The one we are looking forward to is naira master or visa card usd paymen

You are right. My friend has been using his own to buy products online since.
I was even thinking it was naira master card but was disappointed as I didn't that one.

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by AmotekunSW: 11:29pm On Jun 18, 2023*

Charisma01:
Hahahahaha
Your rechargeable President that is about to go to France to recharge because of few bills wey him sign

Yes bro.
At least he's President.

President bro, President.

Something you guys have always wanted.
Something you will never have.

1 Like

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by complexstuffs(m): 11:30pm On Jun 18, 2023

Anytime you want to drink IPOB/OBIDIENTS tears, just post any good news about Nigeria and they will flood your thread with their sweet tears grin

1 Like

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by complexstuffs(m): 11:31pm On Jun 18, 2023

Charisma01:
Hahahahaha
Your rechargeable President that is about to go to France to recharge because of few bills wey him sign

Anytime you want to drink IPOB/OBIDIENTS tears, just post any good news about Nigeria and they will flood your thread with their sweet tears grin

2 Likes

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by GeneralDae: 11:32pm On Jun 18, 2023

Eagle360:
Financial Expert please how does it affect us, what is the benefits to common man.

Omo common man nor dey this discussion. Common man dey use dollar?

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by XAUBulls: 11:33pm On Jun 18, 2023

nairalandkachy1:
https://m.facebook.com/story.php?story_fbid=pfbid0pq7Bxsj6wmG7L5QcFhMosjhbfEcDb1bhkgTTTa6GSQKhXXFCoxXMwQyfqMfnKmHul&id=100068850777180&mibextid=Nif5oz

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Cowbell521: 11:34pm On Jun 18, 2023

Igwe9:
You now know who is the illiterate one , Oh, you only read the propaganda headline ?

Your illiteracy is even worst than I thought. Read and understand what you wrote.

Sorry, too busy. Bye Mr Mugu

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by omoadeleye(m): 11:57pm On Jun 18, 2023

Eagle360:
Financial Expert please how does it affect us, what is the benefits to common man.

Level up and stop asking foolish questions. Did Nigeria only constitutes commoners alone

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Kion: 11:59pm On Jun 18, 2023

Cool
Hope the restrictions on bank cards as well would be lifted
Virtual cards dn too chop my money
Na every two weeks i dey buy new usd virtual card

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by soullove1881(m): 12:48am On Jun 19, 2023

inoki247:
Eh eh...

Gradually we are getting dere...

People wey still dey hope on dere Debit card doing international transaction you will soon be getting dat buh guess what na Abokii rate Bank go dey give u...

Make una no go think say na the Arbitrage way like before no more free money na Bank go dey determine the rate nd it won't be different from what any online Dollar Virtual card services are giving you now....

It's can't be the same, it will be I/E but limited. May 200$ per month which will be subjected to change per liquidity & supply

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by benqo01(m): 1:07am On Jun 19, 2023

THIS IS GOOD NEWS WAITING FOR LOCAL CARDS TO START WORKING FOR INTERNATIONAL TRANSACTION

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by kelvindj98: 1:08am On Jun 19, 2023

Nazgul:
Lol, what's the point, the reality here is that it would be almost impossible for a bank to give you $10k cash unless you're a politician. They'll always tell you that they're short on $$$.

Combined with the new policy that allows banks to freely trade forex with customers as well as making the fx market uniform , it will increase access to $$$.

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by pacificom: 1:12am On Jun 19, 2023

drizzit:
We need our Naira cards to function for international transactions.....that should be the next logical step for the CBN

That will happen by the time Naira gain weight against dollar in future. This is the road...step by step.

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by sunboy(m): 2:12am On Jun 19, 2023

Igwe9:
nothing new, USD deposit was never restricted, has since been lifted. when was that ? Those that were paying N5 for every 1USD received abroad. I have always deposited without any challenges. APC and propaganda,
The one we are looking forward to is naira master or visa card usd paymen

You have also been able to withdraw cash too right ?

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by todugo(m): 2:12am On Jun 19, 2023

Eagle360:
Financial Expert please how does it affect us, what is the benefits to common man.

government policy can never be beneficial for a poor or middle class citizen.its always beneficial for the rich and political connected individual grin

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by sharone21(f): 2:15am On Jun 19, 2023

Too many nonsense under the last regime

Hope our Naira cards can be used abroad?

Can we put money in Domiciliary account and send to Naira account if we like?

Can we also send out money via Western Union?

Those travelling abroad will no longer get reduced price for dollar though.

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by nurd(m): 2:57am On Jun 19, 2023

Buddha3:
This is a colossal lie. If you ever need to do a withdrawal up to the stated amount, go to the capital city of the state you're in and head to the major bank branch. It might take a bit of time cause of bank queues, but you'll get $10K without being a politician. I've done it a decent number of times before, when I was executing a building project for a client.

You cannot need that kind of amount and walk into just about any First bank branch (for instance), and expect them to have the dollars lying in the vault for you. Even with the naira, there's a limit to how much unit branches are supplied from the headquarters. Let's be objective when we're analysing these things please.

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by inoki247: 3:01am On Jun 19, 2023

soullove1881:
It's can't be the same, it will be I/E but limited. May 200$ per month which will be subjected to change per liquidity & supply

Lol wait and see this how other countries av used derr card operate derr Central Bank allow them to fix rate and your card have access to like 1000 usd daily buh that rate if u buy from Black market is even better than buying from bank..

Re: CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals by Bluntemperor: 3:16am On Jun 19, 2023

slawomir:
Damnnn niggar

Nice

ahhhh,no, it's not true!
You that don't see anything good in what govt is doing?
Then this must be a mistake or miracle from your axis o,at least for the first time, the weeds in your pot is cleared!

1 2 3 4 5 6 7 8 Reply

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