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Nairaland Forum / Nairaland / General / Business / Banks Stop Use Of ATM Cards Abroad #Emefieleconomics (52261 Views)
Banks Stop Cash Withdrawal From Overseas Atms / Dollar Scarcity: Banks Cut Customers’ Spending Abroad By 80% #Emefieleconomics / CBN Halts Branch Operations By Bureaux De Change #Emefieleconomics (2) (3) (4)
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Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by OFFICIAL336: 11:48am On Dec 20, 2015 |
Fawklicant:I understand you now. Thanks 3 Likes |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by OFFICIAL336: 11:51am On Dec 20, 2015 |
Fawklicant:I understand you now. Thanks It is just a pity those managing our economy wouldn't read this. It is better to wail than be a Zombie or Chanji chanting crawling bot. 3 Likes |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by AleAirHub(m): 11:53am On Dec 20, 2015 |
Last time I check $500,000 monthly limit...
Time to increase it...
|
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by obailala(m): 11:55am On Dec 20, 2015 |
o42austino:Depositing of forex may sound as a good thing but it was abused and it led to the dollarisation of the economy. We got to a point where some schools accepted school fees in dollars only and some businesses accepted payments in dollars only. I wouldnt want to go into details of the running of elections in dollars in Nigeria. Within a naira economy, when dollars starts competing with the naira as the main currency, I'm sure I dont have to explain to you what that means to the value of the naira and the economy?... No country in the world allows that. 5 Likes 2 Shares |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Infinitikoncept(m): 11:58am On Dec 20, 2015 |
Its change |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Xzevian(m): 12:01pm On Dec 20, 2015 |
Nigeria from frying pan to fire.....This is getting serious. |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Fawklicant: 12:01pm On Dec 20, 2015 |
OFFICIAL336: Please google Nigerias non oil export rate in the past 4 years and compare with previous years since 1999. Adewunmi Adesina, former minister for agriculture once said...'poverty is not an industry and we will not grow it'. I guess bubu sees it as an industry that he needs to grow. 2 Likes 1 Share |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Bestbeelieve: 12:03pm On Dec 20, 2015 |
Caracta: CBN gov is just a block head.he sits on his chair with a narrow vision without any idea what inconvenience these ridgid policies cause.I'm speaking from experience and its just pathetic. |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by rigarmortis: 12:04pm On Dec 20, 2015 |
stupid policy, this can lead to more capital flight, Simply go to ghana, open an account travel and spend your dough freely Its gonna be counterproductive on the long run 4 Likes 1 Share |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Fawklicant: 12:12pm On Dec 20, 2015 |
rigarmortis: Exactly. Serious capital flight and near zero FDI. It would take years for the economy to experience any form of improvement if this plan is seen through. World bank and IMF would feast on Nigeria for decades with grants upon grants meant to stiffle growth of any form. 2 Likes |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by OsamaB: 12:12pm On Dec 20, 2015 |
rottennaija: Perhaps it's people like you that can advice the president to even ban its citizens from traveling abroad and chase embassies away. Keep it up and see the economy boom for armed robbers who will have nothing else to do but to be criminals. 2 Likes 1 Share |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by NavierStokes(m): 12:14pm On Dec 20, 2015 |
Fawklicant: Now is the time to stock-up before we start queuing up with special I.D's and on particular days to get even simple commodities like milk. They said J.P morgan's delisting was inconsequential, they threatened and scared away oil tankers with discomforting requirements for crude lifting, they placed an unrealistic fine on mtn with their zombies cheering them on without knowing the resultant effect on the economy, resisted world bank advice on subsidy removal (as evident in their stand during their time as opposition with a knack for mobilizing zombies against any policy from the govt. Of the day) and devaluation and funny enough they will fall back on that as a last resort after all these trials and errors approach that we warned about, fai. Like the "proverbial fly when no dey hear word" this administration is hell bent on pursuing her vindictive agenda on the Nigerians that rejected them thrice at the polls. A few months ago ( August I think) the issue was too much dollars in the system, and they ordered everyone to stop depositing or receiving forex, forgetting that in 2014 alone Nigerians abroad remitted over 20billion dollars (Osibanjo during canpaigns). Five months later the wailing is about dollar scarcity. How confused can the head be. Everyone is now wailing, home based, diaspora, banks, foreign media outfits. The lying liars better come up with another term. 9 Likes 1 Share |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by OsamaB: 12:15pm On Dec 20, 2015 |
rigarmortis: You are so right, even Niger republic , Benin republic or Chad will welcome you with your funds 1 Like 1 Share |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by arabianights: 12:17pm On Dec 20, 2015 |
dapsonlou: You even bothered to respond? The level of intelligence amongst our youths is just scary.They have no knowledge on politics, economy.....hell theyt dont even know much about their own backyard.Coming out to blame this administration over what is obviously an accumulation of economic fraud during jona's administration 1 Like 1 Share |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Jacko1(m): 12:20pm On Dec 20, 2015 |
Had a pretty darn gud feelin bout this.... Either dis or d free fall of naira need to make a meme bout naira free fall hehe |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by o42austino(m): 12:22pm On Dec 20, 2015 |
obailala:I understand ur point but, will u use because ur nose is bad and cut off ur head?, for the fact that some schools and businesses takes USD as payment will not make u to weak up one day and say no one should keep dollars in his account. The best thing to do is to punish offenders and leave the Good people out of it, now u can see how low we are. Welcome to capital flight 4 Likes |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by tefund(m): 12:23pm On Dec 20, 2015 |
asha80:plan b should be loading |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by onatisi(m): 12:24pm On Dec 20, 2015 |
Howmon:that is where I must give the cbn governor credit for a wonderful job done so far.in the absence of any economic policy or direction the cbn governor has taken steps to try and protect the naira ,things would have been different if the fg had formulated sound economic recovery plans this would have sent the right message of hope to investors . What the cbn gov is trying to do now is to allocate the scarce dollars available to only important importers and under this category falls oil marketers and importers.the only way to go now will be to ban completely the importation of many more items as this may save some dollars. Whichever way or decision the fg makes it is definitely going to bring untold hardship to Nigerians and massive job losses 3 Likes |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Bestbeelieve: 12:25pm On Dec 20, 2015 |
o42austino:That's right!they are still thinking in the analogue age.forgeting that the world has gone e!what are their average ages again? |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Excellent7(m): 12:27pm On Dec 20, 2015 |
OlujobaSamuel: Please shut up if these economic matters are too difficult for you to comprehend. I guess you are still under your parents "umbrella" and insulated from reality. If you find a topic is way beyond your pay grade (intellectually speaking), you should sit down and get educated. Who was the finance minister 6 months ago? Part of this is the cost of vacillating to appoint key cabinet members. Now we have a finance minister, what guidance do we have on the fiscal policy direction? Still waiting for it to put together. Is it not? When discerning minds were calling for fast and decisive action in tandem with the momentum, I guess you were among the crew insulting. 1 Like |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by tefund(m): 12:29pm On Dec 20, 2015 |
obailala:one reason against forex deposit but is that enough reason? 1 Like |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Nobody: 12:29pm On Dec 20, 2015 |
dapsonlou: Shut up! So punishing the majority for no fault of theirs is the way abi? Grow some cerebral tissue please |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Bestbeelieve: 12:31pm On Dec 20, 2015 |
NavierStokes: Its until their 70k monthly take home pay can buy a bag of pure water only that reality will set in. |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by prejulsuc(f): 12:34pm On Dec 20, 2015 |
smudge2079:But i just hope this man know what he is doing sha |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Nobody: 12:43pm On Dec 20, 2015 |
AKMoney1: sorry wrong quote. |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by repogirl(f): 12:45pm On Dec 20, 2015 |
Cheiiii!!!! Booooharinomics has taken Nigeria back to the stone ages! This is no more change o, na extinction |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Caracta(f): 12:45pm On Dec 20, 2015 |
Activa: Which bank gave you PTA in the last 3 months? The only group of people considered slightly were those on holy pilgrimages. Or do you want me to show you CBN circular on suspension of PTA/BTA? |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Laredojohn(m): 12:46pm On Dec 20, 2015 |
Hmm this isn't a good news at all, so buying from ebay, amazon, aliexpress and the likes gonna b a major problem now...they should bring other options, if u sent dollars via western union, u can cash in dollars, u can't lodge in dollars, etc...and the government wants smes to survive...they gonna give the bureau de cange more power with this regulations... |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Nobody: 12:47pm On Dec 20, 2015 |
dapsonlou: my dear, I have been watching them in 3D, I just decided to let them rant and not say anything. their skulls are so thick. |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Caracta(f): 12:48pm On Dec 20, 2015 |
princejayboss: Western union: 199,000 naira per customer/per quarter Moneygram: 198,000 naira per customer/per quarter. For outbound transactions only i.e. sending money abroad. |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by OlujobaSamuel: 12:49pm On Dec 20, 2015 |
Excellent7:I thought you will be sane enough to point out how it was the cause of the finance minister actions or inaction in office but I can see that you just want to use every means possible to drag the finance minister to a monetary policy issue. I have no issue with you criticizing a policy, but you need to know the quarters to direct it to. You are trying to portray yourself as someone responsible, your post says otherwise. Also, don't be a critic for the sake of it, you can point out your alternative opinion. 1 Like |
Re: Banks Stop Use Of ATM Cards Abroad #Emefieleconomics by Nobody: 12:50pm On Dec 20, 2015 |
josh4ever: it is you who should grow some brain cells actually. where did he mention punishment? what we are going through right now is the CONSEQUENCE of the action of a few bastards who decided to loot the country dry after we witnessed an unprecedented rate of crude oil, $120/barrel. Ask them what they did with it. |
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