Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,205,004 members, 7,990,777 topics. Date: Friday, 01 November 2024 at 12:50 AM |
Nairaland Forum / Nairaland / General / Politics / CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 (12766 Views)
CBN Discontinues Payment Of BTA/PTA In Cash / EFCC: Rivers Officials Withdrew ₦118 Billion In Cash / CBN Plans Single-digit Interest Loan For Oil Palm Producers In SE/SS (2) (3) (4)
(1) (2) (3) (4) (5) (Reply) (Go Down)
CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by Epstein(m): 8:15pm On Feb 25 |
The Central Bank of Nigeria (CBN) is considering limiting the cash payment for buying and selling foreign currencies by Bureau De Change (BDC) operators to a maximum of $500 and ensure payments above the stipulated figure is done digitally.https://nairametrics.com/2024/02/24/cbn-plans-to-limit-buying-and-selling-of-forex-in-cash-by-bdcs-to-500/ 13 Likes 3 Shares
|
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by 9jatriot(m): 8:25pm On Feb 25 |
Very good.... CBN dishing it out hot... Any thing above that should be by transfer. That means intra bank transfer of forex should now be available. However, it is interesting how USD has become a secondary currency in Nigeria 56 Likes 5 Shares |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by Truths9ja: 8:26pm On Feb 25 |
Epstein:All this gragra is temporary solution 1 Like 1 Share |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by Epstein(m): 8:28pm On Feb 25 |
Yeye policies, 2 Likes |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by Opintiwa: 8:30pm On Feb 25 |
This is what I call rise and fall trial and error Front and back. But under the jihadist Buhari and the cocaine sniffer regime. What is have been seeing is rise and fall , fall and rise . Rise Fall , fall again Fall yakata. Rise and show media Fall finish 14 Likes 3 Shares |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by pandoragirigory: 8:31pm On Feb 25 |
Anything that will cripple criminals is acceptable 63 Likes 4 Shares |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by baby124: 8:33pm On Feb 25 |
Good. I see the useless and lazy organized crime syndicate called BDC are always online chatting trash. After this they need to go and find farm laborer work or open factory. 37 Likes 3 Shares |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by lwisee: 8:40pm On Feb 25 |
Nice one Some enemies of Nigeria will be in sifare pain 34 Likes 4 Shares |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by Biodun556(m): 8:44pm On Feb 25 |
9jatriot: With bureau de change reforms Tinubu is challenging the north and stepping on their toes. I will not be surprised if they are calling for coup Obasanjo, Jonathan, Buhari knows this forex malpractice but lacks the courage to correct it 33 Likes 1 Share |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by 9jatriot(m): 9:09pm On Feb 25 |
They won't. The only people wishing for a coup are PO supporters. Biodun556: 21 Likes |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by matify83: 9:15pm On Feb 25 |
The reforms in the banking and Fx sectors are coming in fast and furious at dizzying speeds. The North may misconstrue this as an attack on their business interest but who gives a hoot as long as it brings sanity to the Fx market and stability in the naira value. 26 Likes 1 Share |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by marenkurz: 9:22pm On Feb 25 |
Isn't it easier to cancel BDC? Let banks be responsible for foreign exchange. Then, CBN will know the root of the problem. 41 Likes 1 Share |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by marenkurz: 9:24pm On Feb 25 |
You obviously don't know who controls BDC. BDC is a big-easy business for the northerners; they control it. 9jatriot: 16 Likes 1 Share |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by 9jatriot(m): 9:24pm On Feb 25 |
The North are not stupid, they understand politics more than the South and know when someone is doing the right thing versus when someone is doing politics. Tinubu is also perceived by them to be a strong personality, PO for example would know not have known what to do, and even if he did would not have had the courage non the acceptance to do the right thing. matify83: 8 Likes |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by pharmagba: 9:31pm On Feb 25 |
This is long overdue. CBN wasted too much time. It's the first thing Cardoso should have done as soon as $1 hits N900. Let see the fight back of our dear Naira 29 Likes 2 Shares |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by adekolaelect(m): 9:31pm On Feb 25 |
Epstein:Yeye commenter . 61 Likes 4 Shares |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by BigIyanga: 9:34pm On Feb 25 |
Why does Naija need BDCs? Why not go to your bank with ur BVN,NIN, FORM-A, FORM M.. Banks vet your docs and request for FX. then CBN will pay the oversea recipients on FOrm M or A… and you have 90days to submit bill of lading to your banks for onward transfers to sNaija customs. CBN should build a portal like Jamb/WAEC wheb FX disbursement with Form M/A can be submitted and tracked in real time. 42 Likes 3 Shares |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by commoditiesnig: 9:34pm On Feb 25 |
marenkurz:True 4 Likes |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by Shadomaan7: 9:36pm On Feb 25 |
Wow, this could be a game changer for the economy, reducing illicit activities and promoting digital payments. 61 Likes 4 Shares |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by Biodun556(m): 9:46pm On Feb 25 |
BigIyanga: We will get there All I know is that on this bdc matter, the CBN governor is right 8 Likes 2 Shares |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by TheBillyonaire: 9:54pm On Feb 25 |
How will they know 2 Likes 1 Share |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by plaetton: 9:56pm On Feb 25 |
9jatriot:Another nonsensical ad hoc policy dead on arrival. I still fail to understand how restricting the availability of forex would help the Naira. Nigeria is heavily dependent on imported goods, from toothpick to the very fuel we use to run our generator-economy. Therefore, forex would always be in great demand. If the supply is disrupted by ill-conceived ad hoc policies, the value of the available forex would always go up and up. 10 Likes 1 Share |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by correctguy101(m): 10:06pm On Feb 25 |
TheBillyonaire: The usual pretence na... What's on paper remains on paper.. The real life practice of magickallly moving cash will continue. Las las, even hey themselves will end up confused as is common with disorder. It's all crazy stuff. Nigeria needs strong hand o force her on the right path.. Smh 1 Like |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by Chinkoalhaji34: 10:10pm On Feb 25 |
This new regulation from CBN could really help stabilize the value of the naira and curb illicit flow of foreign currencies in Nigeria. 61 Likes 2 Shares |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by Crimecity: 10:12pm On Feb 25 |
plaetton: Don't mind them. They should keep clamoring for BDCs to be attacked, while refusing to solve the main issue. With this policy, the dollar will even jump. The law of demand and supply isn't for economics neophytes. 7 Likes |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by Chinkoalhaji34: 10:17pm On Feb 25 |
Crimecity: How is that your business if the $$ jump or fall? Are you not enemy of Nigeria again? 65 Likes 2 Shares |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by 9jatriot(m): 10:31pm On Feb 25 |
First of all, it is shameful for Nigeria to always call themselves an import dependent nation with pride. Secondly, you want to pay your supplier in China, why do you need the money in cash when what you should be doing is wire transfer? Why do you need cash of a currency that is not the legal tender of that country? plaetton: 29 Likes 1 Share |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by Paraman: 10:31pm On Feb 25 |
Biodun556:forget all this chidish rant of coup. Nigeria is not Niger republic or Mali. 10 Likes 1 Share |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by Biodun556(m): 10:42pm On Feb 25 |
Paraman: Absolutely |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by PHAYOL81: 11:42pm On Feb 25 |
Just do anything to depreciate dollars dominance on our local currency and our economy. 1 Like |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by oyatz(m): 12:00am On Feb 26 |
plaetton: You are mixing issues up. This policy is to regulate the BDC ,not to restrict FOREX. You don need to touch dollars in cash for you to do Import business. Nigeria is NOT the only country in West Africa with high importation yet we don't see their economy highly dollarized like this. In other countries, to get above $100, they will request for your international passport and you won't see private citizens in Benin Republic, Togo, Ghana or Mali holding $1000 cash. What is presently happening in Nigeria is that some elites have somehow created a parallel currency within Nigeria called the DOLLAR with a competing and opposing values to the Naira within the economy 61 Likes 5 Shares |
Re: CBN Plans To Limit Buying And Selling Of FOREX In Cash By BSCs To $500 by BadMaster: 12:10am On Feb 26 |
These people are just idiots, doing trial and error. Why not just scrap the whole thing? 2 Likes 1 Share |
2023: "It's Time For Southeast To Produce President", Igbo Leaders Insist / Finally: Tinubu Choses Female Runing Mate / 22 States, FCT Reduced Their Domestic Debts By ₦176 Billion In Q3 2023
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 54 |