CBN Bans Deposits Into Domiciliary Account - Business (2)

CBN Bans Deposits Into Domiciliary Account - Business (2) - Nairaland

Nairaland Forum › Nairaland General › Business › CBN Bans Deposits Into Domiciliary Account (64770 Views)

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Re: CBN Bans Deposits Into Domiciliary Account by RichDad1(m): 9:24pm On Aug 05, 2015

Barcanista rejoice not.
I can see where Baba is going here. All those useless looters that hoard Dollars during the past administration in the hope of impending economic doom can now eat their valueless paper. cheesy

10 Likes

Re: CBN Bans Deposits Into Domiciliary Account by iykedare(m): 9:25pm On Aug 05, 2015

Children of hate,oya o

1 Like

Re: CBN Bans Deposits Into Domiciliary Account by allanphash7(m): 9:25pm On Aug 05, 2015

Is he still slow?

Buhari slow and solving matters gently

6 Likes

Re: CBN Bans Deposits Into Domiciliary Account by atlwireles: 9:25pm On Aug 05, 2015

emorse:
What then would be the fate of small scale importers who import from aliexpress and their likes?

You hit the nail on the head, this pretty much puts them out of business.

1 Like

Re: CBN Bans Deposits Into Domiciliary Account by YerYer: 9:25pm On Aug 05, 2015*

Naira won't appreciate due to this, it will only cause an abundance of dollars which will result in a pseudo depreciation of dollar.

4 Likes

Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 9:26pm On Aug 05, 2015

IsraeliAIRFORCE:
The mallams will just go to Chad, Niger, Benin Republic or Cameroon and open account for depositing the dollars which they will be carrying across the borders from Nigeria then they will continue wiring the transactions from these neighbouring countries into their Nigerian bank accounts

That's interesting, I don't think its easy to open bank accounts in those countries if you aren't a citizen or a documented resident.

BTW I don't think that will do the mallams any good because they can only withdraw naira

6 Likes

Re: CBN Bans Deposits Into Domiciliary Account by ohenhen1: 9:27pm On Aug 05, 2015

This man is holding the line. A true patriot. The NASS is doing nothing collecting their wages.

4 Likes

Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 9:28pm On Aug 05, 2015

NgeneUkwenu:
President Buhari, do all you can to protect our naira, even if it takes suspending the current Clueless CBN Governor who only makes knee jerk decisions on major macro economic policies!

May God Bless Buhari For Us!!!

Is it not Emefiele who is in the better position to ensure that there are measures to protect the Naira? Or are you just being a useless Idiotic anti-Igbo bigot hiding behind an Igbo moniker who lacks the ability to think properly?

12 Likes

Re: CBN Bans Deposits Into Domiciliary Account by Asuokaa: 9:28pm On Aug 05, 2015

barcanista:
This will cause more harm to the naira. Anyway, this is an overflogged issue. Time will tell

I like ur status message but I don't like ur views...

Cause I feel ur biased but I love how intelligent u r.. Cause most wen I see ur post all I see is anger even wen u were bashing gej too... Be more constructive bro

8 Likes

Re: CBN Bans Deposits Into Domiciliary Account by cococandy(f): 9:29pm On Aug 05, 2015

OREMUSSANCTUS:
stale news, barcanista don deal wif dis topic before.

i thought you were a guy angry

You don do sex change now now?

2 Likes

Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 9:30pm On Aug 05, 2015

NgeneUkwenu:
President Buhari, do all you can to protect our naira, even if it takes suspending the current Clueless CBN Governor who only makes knee jerk decisions on major macro economic policies!

May God Bless Buhari For Us!!!

Beast... GI remove that Igbo cloth

1 Like

Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 9:30pm On Aug 05, 2015

How do you hold a centre that won't hold?

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Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 9:31pm On Aug 05, 2015

yes o

Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 9:35pm On Aug 05, 2015

emorse:
What then would be the fate of small scale importers who import from aliexpress and their likes?

Use your debit card via escrow

3 Likes

Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 9:35pm On Aug 05, 2015

HOW WILL MY SIBLINGS GET THEIR FEES SENT TO THE STATES....OMG,OGA EMEFIELE DON FINISH US OOO.MAYBE I SHOULD GET ONE OF THESE KANAKO CHARM PROFESSIONALS TO RUN THE ERRAND AT A PRICE.

Re: CBN Bans Deposits Into Domiciliary Account by j4sure(m): 9:35pm On Aug 05, 2015

Na wa oooh

Re: CBN Bans Deposits Into Domiciliary Account by Ymodulus: 9:35pm On Aug 05, 2015

Form A and Form M is the way to go.

Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 9:36pm On Aug 05, 2015

atlwireles:
You hit the nail on the head, this pretty much puts them out of business.

They can use debit cards and paypal

6 Likes

Re: CBN Bans Deposits Into Domiciliary Account by CallPolice: 9:36pm On Aug 05, 2015

None of my business as long as naira remains 250/dollar

Re: CBN Bans Deposits Into Domiciliary Account by XBLadez: 9:36pm On Aug 05, 2015

Trailblazer1:
[s]Ngeneukwunu is the most economically astute APC supporter on Nairaland.[/s]

Since ~~she~~ he declared herself an economist, Nigeria economy has taken a tumble

Are you saying you didn't see the source? undecided

Re: CBN Bans Deposits Into Domiciliary Account by tivta(m): 9:36pm On Aug 05, 2015

Oyo is the name for small scale importers.

1 Like

Re: CBN Bans Deposits Into Domiciliary Account by emorse(m): 9:37pm On Aug 05, 2015

NgeneUkwenu:
Yes through Form A or Form M! That is exactly what CBN wants to achieve with the new policy.

Don't you think they may have to simplify protocols to facilitate the use of those forms?

1 Like

Re: CBN Bans Deposits Into Domiciliary Account by Ahmeduana(m): 9:37pm On Aug 05, 2015

NgeneUkwenu:
President Buhari, do all you can to protect our naira, even if it takes suspending the current Clueless CBN Governor who only makes knee jerk decisions on major macro economic policies!

May God Bless Buhari For Us!!!

HE DON TURN TO CLUELESS NOW BA?

2 Likes

Re: CBN Bans Deposits Into Domiciliary Account by kay1one2(m): 9:37pm On Aug 05, 2015

NgeneUkwenu:
President Buhari, do all you can to protect our naira, even if it takes suspending the current Clueless CBN Governor who only makes knee jerk decisions on major macro economic policies!

May God Bless Buhari For Us!!!

3 Likes

Re: CBN Bans Deposits Into Domiciliary Account by atlwireles: 9:38pm On Aug 05, 2015

Obiagelli:
They can use debit cards and paypal

how are these accounts funded?

Re: CBN Bans Deposits Into Domiciliary Account by tivta(m): 9:39pm On Aug 05, 2015

Obiagelli:
Use your debit card via escrow

It has a limit.

Re: CBN Bans Deposits Into Domiciliary Account by kay1one2(m): 9:40pm On Aug 05, 2015

Trailblazer1:
Ngeneukwunu is the most economically astute APC supporter on Nairaland.

Since she declared herself an economist, Nigeria economy has taken a tumble

She be drop out.

1 Like

Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 9:41pm On Aug 05, 2015

atlwireles:
how are these accounts funded?

Naira deposit in your bank account. Western union is also available.

5 Likes

Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 9:42pm On Aug 05, 2015

tivta:
It has a limit.

I thought you said small importers.

7 Likes

Re: CBN Bans Deposits Into Domiciliary Account by eaglechild: 9:44pm On Aug 05, 2015

owobokiri:
NgeneUkwunkita the village economist. What do you want to do with a "strong naira"?? This is not another political kiriji war. It is basic economics. I thought the APC wants to stimulate an export economy. . How can a powerful naira drive export? Lecture, sorry, humour us. .

4 Likes

Re: CBN Bans Deposits Into Domiciliary Account by kaboninc(m): 9:44pm On Aug 05, 2015

Obiagelli:
Is it impossible for importers to do transactions without this domicillary account sef. Can't we pay naira equivalent and have the banks do the exchange electronically

It depends on what they are importing.

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