searay:
Does this mean that I will not be able to use my visa card to make an order from aliepress.com, a Chinese online mall?

PassingShot:

And you too.

What type of injury am I prone to? I was going to ask you but forgot.

TonyeBarcanista:
This will be tough for diasporans

Ecoterrorist:
This is the height of stupidity from this inept government, the CBN will now sell directly to companies instead of BDCs and banks. Which kind of crazy monitoring is this?

Rexphobia:



Can I quickly respond? Why do we have to defend the naira? Why can't the forces of demand and supply give us the true worth of the naira. Even if a free fall is the cost we have to pay for it.

There are several things you need dollars for order than pay for school fees... A thousand and one services are paid for in dollars and we sure those offer them here.

Let's think about a saner way to battle this? The solution to all economic problems is not embedded in controlling the volume of money in circulation. You and I know that

Dee60:

You want to put Naira in your account in Nigeria and withdraw dollars freely abroad! Where would Nigeria have all the dollars to fund that. with the oil price fallen to by more than 60?

Does it occur to anyone that allowining free withdrawal (dollar against naira) will result in huge dollar debt for Nigeria over time?

Is there not an avenue for students to have their fees transferred officially instead of via ATMs?

The protesters need to push their argument clearly. Otherwise, it is simple commonsense that you cannot dollarise your economy, unless you want to pile up debt for future generations. Common sense.

If we had saved forex when oil was USD100 plus, it would have helped a bit. But with dwindling reserve CBN has to look for ways to curb DOLLAR consumption. We just cannot continue to CONSUME what we dont produce and expect FG or CBN to do magic.

Please think before you talk. Read before you comment. Common sense says so..

TheSixthSense:

If declined you re-apply...again and again until it gets approved. Mine got declined twice before it was approved eventually. I assume it'll be much more difficult now

TheSixthSense:

If declined you re-apply...again and again until it gets approved. Mine got declined twice before it was approved eventually. I assume it'll be much more difficult now

modath:


Their politico fathers now have no choice but to improve the educational system..

90% of them are being financed through public funds anyway, so......

BTW, I have folks schooling abroad too!!

Demdem2:


If u don't the extremely poor in our midst who are in the majority will suffer more. Are u aware that for current status quo, it's the privileged that is complaining and this policy affecting? The aim of govt to to protect the most vulnerable.

PassingShot:
Unfortunately this is where GEJ and his cohorts brought us.

If you like, call it blaming or whatever, it is the dollarized foreign reserves that determine the pressure on naira. And it is the same reserve that Jonathan dipped his hands and that of his comrades' to loot like there was no tomorrow. Now that the "tomorrow" is upon us, we're excusing them instead of calling for their head.

Una never see anything!

omohayek:
There's no finer way of putting it: the CBN's forex policies are economically insane. Instead of allowing the Naira to float and settle at its true value, thereby ensuring that the dollars available are efficiently allocated where most needed, we get this ridiculous pretence at a "defence" of the Naira's value by making it almost impossible to exchange it for dollars. What is the point of a 200-to-1 exchange rate when no ordinary person or company can actually utilize that rate? Just so the uninformed can cheer at the mirage of a "strong" Naira?

Emefiele is either utterly incompetent or a craven careerist who puts pleasing Buhari above the welfare of the nation at large. His draconian policies are strangling the economy, making life unbearable for nearly all firms which require any sorts of foreign inputs in their operations.

Keneking:


Are you studying in Africa? I am aware there is no demand for USD/GBP.

Atigba:

Are they saying no can pay school fees abroad from here

saxywale:

Just a few Nigerians in diaspora, mostly students. Worldremit is still available for transfer of funds from anywhere in the world to Nigeria.

Rexphobia:


I beg to disagree

ifyalways:
We want to deposit our dollars : CBN said no.

We want to withdraw our dollars : CBN said no

We want to use our cards online, POS Etc: CBN said no

Form M,takes forever to be processed plus, it's does not cover for a lot of things.

What exactly does this government want from its citizens who are working real hard to earn decent income? Why can't I be able to use my card here, make a legoland/Disneyland holiday reservations for my family? Why should the government restrict me on how and where I want to spend my money I rightly earn after paying them their due : income and company taxes?

This is INSANE!!!

“It is a healthy development where Nigerians can no longer use debit cards abroad.
“But it is inconvenient.

TheSixthSense:

No, not in Africa and I don't get what you mean by demand for...

PassingShot:
Unfortunately this is where GEJ and his cohorts brought us.

If you like, call it blaming or whatever, it is the dollarized foreign reserves that determine the pressure on naira. And it is the same reserve that Jonathan dipped his hands and that of his comrades' to loot like there was no tomorrow. Now that the "tomorrow" is upon us, we're excusing them instead of calling for their head.
You are blessed in Jesus Christ.
Una never see anything!

sholatech:


I make bold to say You are wrong, unfortunately I understand because you took line and sinker what was bandied around during the elections. And now Hunter becoming the hunted.

In simple terms, The Foreign Reserves is not a physical or bank fund like your vault that can be dipped into. It is a virtual balance of trade figure based on your dollar inflows and outflows. Under Gej, the cbn also didn't want to devalue the Naira and used the reserves to defend the Naira hence the reduction especially when oil started downward slide.

Now, this administration knows the noise made during elections on how reserves were depleted and also their promise not to devalue the naira. So in keeping with their words, they have been boxed to 'protect' the reserves and thus restricting items that can affect it .

What do I see? Reality has dawned now on PMB. And of course CBN knows this. From pmb budget and cbn governor statements afterwards, it is clear we will now have a devalued Naira in 2016 and reduce the pressure on the Naira.

No political sentiments now..it is a core economic fundamental issue we refused to address over the years especially the dark military era

Keneking:


I mean payment of tuition for studies in any African College or University doesn't require USD /GBP. Most times it is based in local currency.

How long can one expect a response from CBN after filing request via bank? In terms of hours..

Demdem2:


Why do u Av to wait till hours before deadline before remembering to pay ur fees?

modath:



Catching feelings is not a problem, projecting it ? Nah, you gotta be stoic .

It's not a zombie movement but never be caught holding the baby!! It is a psychological warfare, we aren't dueling with rational people but folks driven by insatiable greed & heartlessness....

BTW, Thought you & mynd were gonna keep that our commonwealth thread that seun & Mynd dealt fatal blows to going.??

Keneking:


See three factors:

- delay in receiving admission letter and study visa
- Xmas and New Year expenses
- worst is payment of 10% penalty not expulsion

sholatech:


I make bold to say You are wrong, unfortunately I understand because you took line and sinker what was bandied around during the elections. And now Hunter becoming the hunted.

In simple terms, The Foreign Reserves is not a physical or bank fund like your vault that can be dipped into. It is a virtual balance of trade figure based on your dollar inflows and outflows. Under Gej, the cbn also didn't want to devalue the Naira and used the reserves to defend the Naira hence the reduction especially when oil started downward slide.

Now, this administration knows the noise made during elections on how reserves were depleted and also their promise not to devalue the naira. So in keeping with their words, they have been boxed to 'protect' the reserves and thus restricting items that can affect it .

What do I see? Reality has dawned now on PMB. And of course CBN knows this. From pmb budget and cbn governor statements afterwards, it is clear we will now have a devalued Naira in 2016 and reduce the pressure on the Naira.

No political sentiments now..it is a core economic fundamental issue we refused to address over the years especially the dark military era