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Nairaland Forum / Nairaland / General / Business / CBN Bans Deposits Into Domiciliary Account (62711 Views)
Withdrawing From Domiciliary Account / How To Get Dollar Into Your Domiciliary Account / CBN Bans Use Of Dollars For Overseas Fees, Medical Trips (2) (3) (4)
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Re: CBN Bans Deposits Into Domiciliary Account by miqos02(m): 10:03am On Aug 06, 2015 |
atlwireles:this people can still get their funds through deposits in their Nigerian bank ACCTS and withdraw thru atm 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by miqos02(m): 10:06am On Aug 06, 2015 |
emorse:make payments thru ur cards 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by miqos02(m): 10:25am On Aug 06, 2015 |
IsraeliAIRFORCE:only people who deposited USD before the circular came into effect will able to withdraw USD [ quote author=NgeneUkwenu post=36646381] By this circular, those who deposited foreign currencies into their accounts before the directive will now have to withdraw the cash as they are not going to be allowed to transfer the funds. [/quote] |
Re: CBN Bans Deposits Into Domiciliary Account by chuksmad(m): 10:36am On Aug 06, 2015 |
If implemented wholly, this will help naira. But i will like the economist gurus to shed more light in this topic. [size=20pt]For practical knowledge of basic html and css coding with Dreamweaver, visit www.prislaw.com[/size] |
Re: CBN Bans Deposits Into Domiciliary Account by M16: 11:04am On Aug 06, 2015 |
atlwireles: I don't think you have done international business before. If you have relatives abroad and the send you dollars or whichever currency, they will receive the naira equivalent here in Nigeria. When you send money from Nigeria to UK, the person receives the money in pounds, not in naira or dollars. You don't need a domiciliary account account for transfers, you can and will receive in the countries currency. simple. Domiciliary accounts are for receiving and will be converted to receiving countries currency like western union |
Re: CBN Bans Deposits Into Domiciliary Account by M16: 11:07am On Aug 06, 2015 |
IsraeliAIRFORCE:Opening an account in a these countries is not easy at all, if you not a resident. Nigerians going to Cotonou for business would have opened accounts long ago |
Re: CBN Bans Deposits Into Domiciliary Account by M16: 11:17am On Aug 06, 2015 |
JAZES: You underestimate the amount of dollars that Nigerians are holding |
Re: CBN Bans Deposits Into Domiciliary Account by NellyGhenghen(m): 11:49am On Aug 06, 2015 |
owobokiri: We don't need a "strong naira" per say, Nigeria's economy isn't ready for that, we don't need a weak naira either that's bad for import. Let it at least go back to the former exchange rate of NGN150/USD |
Re: CBN Bans Deposits Into Domiciliary Account by Boss13: 12:02pm On Aug 06, 2015 |
NellyGhenghen: 150 per dollar was the best rate ever. I enjoyed that rate very well |
Re: CBN Bans Deposits Into Domiciliary Account by erico2k2(m): 12:14pm On Aug 06, 2015 |
M16:Wrong.U can receive dollars in the UK.I recieven miney from China via WE I asked to be paid in Dollars as it was a small amount .When I send money to China it get received as dollars.and all whole sale trade are done in Dollars. |
Re: CBN Bans Deposits Into Domiciliary Account by IsraeliAIRFORCE: 12:15pm On Aug 06, 2015 |
miqos02: You are 100% wrong. The decree backing the domiciliary account is still enforced hence domiciliary account is legal and the statutory provisions on the act is still subsisting. Domiciliary Account is not a current account hence the decree has to be repeal before the option of withdrawing your dollars can be stopped 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by erico2k2(m): 12:20pm On Aug 06, 2015 |
Lancier:So with All this big grammes you do not have a website and a copratte Email a dress? Seriouslyy 2 Likes |
Re: CBN Bans Deposits Into Domiciliary Account by M16: 2:10pm On Aug 06, 2015 |
erico2k2: Wire transfers are recieved in local currencies, same as western union |
Re: CBN Bans Deposits Into Domiciliary Account by stagger: 2:22pm On Aug 06, 2015 |
M16: You don't know what you are talking. I receive all my wire transfers in foreign currency. 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by atlwireles: 2:24pm On Aug 06, 2015 |
M16: Are you sure you have done any international business before? besides buying $200-$300 stuff on aliexpress |
Re: CBN Bans Deposits Into Domiciliary Account by datigbogirl: 2:32pm On Aug 06, 2015 |
M16: What I want to know is when the bank converts your dollar to naira at the current exchange rate of 199 to a dollar will they reconvert it at this same rate when you wanna buy something overseas with Form A or M? |
Re: CBN Bans Deposits Into Domiciliary Account by erico2k2(m): 3:42pm On Aug 06, 2015 |
M16:I was responding to that statement.U cannot receive dollars in the UK.So you was wrong wen U said U cannot receive dollars in the UK.we even have ATM that disburse Dollars and Euros. |
Re: CBN Bans Deposits Into Domiciliary Account by erico2k2(m): 3:42pm On Aug 06, 2015 |
datigbogirl: |
Re: CBN Bans Deposits Into Domiciliary Account by thoth: 4:15pm On Aug 06, 2015 |
Boss13:Please tell us how he is wrong ? you one lined assertion is not enough. |
Re: CBN Bans Deposits Into Domiciliary Account by datigbogirl: 4:20pm On Aug 06, 2015 |
erico2k2: M16 can you please answer the urgent question I asked that this kid is treating with kid's gloves? |
Re: CBN Bans Deposits Into Domiciliary Account by erico2k2(m): 5:40pm On Aug 06, 2015 |
datigbogirl:so ur fathers age is now a kid to you. Naira land shaa 1 Like 2 Shares |
Re: CBN Bans Deposits Into Domiciliary Account by datigbogirl: 6:50pm On Aug 06, 2015 |
erico2k2: *ignored* |
Re: CBN Bans Deposits Into Domiciliary Account by erico2k2(m): 6:54pm On Aug 06, 2015 |
Those who do not respect their elders will never get respect from their younger ones never,Just cos we are on a faceless forum people just run their mouth, don't worry wen you eventually get to NYSC run your mouth there and see waht disrespect earns you. enough said. |
Re: CBN Bans Deposits Into Domiciliary Account by datigbogirl: 7:45pm On Aug 06, 2015 |
With this people will simply take their hard currency abroad and do business. Barcanista wetin you think? Say I converted my naira to 10k$ before the policy, now converting it back at the banks will be at a loss to me cos the bank won't use d standard rate when reconverting back to dollars for me incase I wanna do a foreign transaction. Gtbank I hear currently charge 216 to a dollar. So d common-man like me will simply carry my 10k$ to cotonou or ghana and do my business except they wan say dollars sef na contraband to travel with-in the end more loss of revenue for the country. Grow the economy Baba instead of all this crash course and bag of tricks |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 8:01pm On Aug 06, 2015 |
datigbogirl:You just painted the perfect reality. 2 Likes 1 Share |
Re: CBN Bans Deposits Into Domiciliary Account by Image123(m): 9:29pm On Aug 06, 2015 |
datigbogirl: Common men don't carry $10,000 up and down. if you have legitimate business, use the available forms. If you only want to profit from a falling economy, the exit door is open. 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by datigbogirl: 12:50am On Aug 07, 2015 |
Image123: Was I the one who fell the economy? Why shouldn't I mitigate my loses then and be d one to bear the brunt instead? The available forms will result in a huge loss to me...My business is legit and I'm taking the alternative sensible form and not this prank at stabilizing the economy. That's why his regime didn't last...his overzealous but has little wisdom. 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by Image123(m): 1:23pm On Aug 07, 2015 |
datigbogirl: The exit door remains open, it is not by force to do business in Nigeria. I'd rather the common man that lives below the poverty level benefit from the country, than people who can carry $10,000 up and down. You have a choice, millions of Nigerians do not. The regimes that lasted like IBB, Abacha, OBJ and GEJ, we did not see their usefulness to the majority of Nigeria. I'd rather have quality over quantity any day. 1 Like |
Re: CBN Bans Deposits Into Domiciliary Account by datigbogirl: 2:43pm On Aug 07, 2015 |
Image123: And d quality is in Nigeria right? I Always talking about the poor like we were d ones dat put them there....when their mates were hussling they were busy toasting girls and taunting the real husslers, now level don change suddenly they call the Rich names. That's what GMB is known for...to him every rich is corrupt until proven otherwise....right now it's even difficult to employ people for my business cos na hownthem go thief your money dey their head, you see different people wey no get anything but with bad & terrible manners, tell me how they'll get help in future...den they end up in penury messing up their lives and you blame d "person carrying $10,000 up & down". Abeg leave d exit door open jarey! Even if Buhari seizes every rich man's money and dashes d poor, they will go back to square zero in 2months cos d only financial intelligence they've learnt is how to take, collect, receive, beg & steal. 3 Likes 1 Share |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 8:16pm On Sep 03, 2015 |
chimchim1:Initiated a similar process but got a declined email. What is the trick? |
Re: CBN Bans Deposits Into Domiciliary Account by Nobody: 6:40pm On Sep 21, 2015 |
chimchim1: Hi. Please how long does the form A process take? |
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