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Nairaland Forum / Nairaland / General / Business / Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** (47368 Views)
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Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by grandstar(m): 5:17pm On Feb 21, 2016 |
obailala: The present tools government is using is causing mayhem in the economy. They have proven to be blunt and highly ineffective shortchanging almost everyone. The best indicator of this is that a bag of pure water is now 100 naira. The proper thing to do is to allow the currency depreciate to its real value based on the present forex earning so that the government can provide enough forex to everyone who demands it. GEJ allowed the currency to depreciate snd that is why is why despite oil prices falling from $118 to $45, the naira fell from 165 to 210. It is the opposite with PMB who said he won't allow the currency to depreciate from day 1. That is why there is so much bedlam. |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by alomeda600(m): 5:18pm On Feb 21, 2016 |
Uchefrancis16:some1 is making sense |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by dustydee: 5:25pm On Feb 21, 2016 |
magicminister:Your transaction does not qualify for forex from CBN. You don't know where the bank got its dollars from and how much so you can't blame them. If you want to buy at the official rate, go to your bank and fill the necessary forms. |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by anisalome(m): 5:28pm On Feb 21, 2016 |
it sounds crazy my brother, but GTB, Stanbic IBTC and Diamond Bank charged me closed to that amount find out the reason here: http://www.talkasset.com/why-nigerian-banks-are-selling-forex-at-parallel-market-rate/#.Vsnix7QrLIV |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by dustydee: 5:30pm On Feb 21, 2016 |
grandstar:GEJ allowed the naira to depreciate to about N197 and not 210. Depreciation does not increase the amount of dollars in our reserves. It only makes it more expensive for those who buy dollars. If they don't mind paying more for the dollar(as is currently happening), why depreciate? |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by macphilip: 5:35pm On Feb 21, 2016 |
obailala:whoever told you this is deceiving you |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by edoziebobbyyahoocom(m): 5:37pm On Feb 21, 2016 |
magicminister: o boi you no hear say na 382 e dey for parallel market, c'mon find person sell am give. |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by palladin: 5:38pm On Feb 21, 2016 |
obailala: This is the first time I'm understanding this negative balance of trade stuff. Thanks 5 Likes |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by Intendy: 5:39pm On Feb 21, 2016 |
magicminister:the guy you replied is a bloody liar |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by Intendy: 5:40pm On Feb 21, 2016 |
obailala:Haba,say what you know |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by FLYFIRE(m): 5:42pm On Feb 21, 2016 |
obailala:Even before I finished your first post I knew you ate Aisha rice |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by ernecy(m): 5:53pm On Feb 21, 2016 |
tolugar:it's official |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by chuksmad(m): 5:54pm On Feb 21, 2016 |
magicminister:they charged u 350/$, ur crying. gtb charged me 370/$ just yesterday |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by erico2k2(m): 6:07pm On Feb 21, 2016 |
magicminister:They regulate. TheY no longer sell |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by chinchum(m): 6:09pm On Feb 21, 2016 |
bizgenius1:really? for 1 canadian dollar? i didnt say 1 us dollar o |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by erico2k2(m): 6:10pm On Feb 21, 2016 |
Uchefrancis16:This is why the Bank are the winners in all this.wen U make.a previous banker head of CBN what do you xpect |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by Sunbellar: 6:11pm On Feb 21, 2016 |
magicminister: Don't mind the dullard called Buhari! |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by tempest01(m): 6:12pm On Feb 21, 2016 |
bebe2: Haha...you dey operate for Aberdeen? 500 na black market nah...we go deal for parallel market since no be naija we dey |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by ranktzy(m): 6:34pm On Feb 21, 2016 |
grandstar:I don't think you're still getting the point, the reason why government doesn't want to devalue is because even if it does, the value will still change over time. Cbn can no longer release dollars from our reserves causes it's already depleted. It would mean giving out more than we are getting in through exports, which is not the possibility for now since the major export earner for us has depreciated in value.. If we exhaust our reserves, the naira will loss its value. |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by emmygzy(m): 6:45pm On Feb 21, 2016 |
pendusky:chair, you wicked. Its not his fault, it was lai Mohammed that brainwashed him. |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by Abayor7: 7:07pm On Feb 21, 2016 |
tolugar:Ɣòμ are mocking him right? God Ȋ̝̊̅§ so wonderful †ђǎ̜̣̍† can make Ɣòμ his house help or gatekeeper soon. |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by olamonsor2: 7:08pm On Feb 21, 2016 |
emmygzy: Haba I offend u |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by pendusky(m): 7:10pm On Feb 21, 2016 |
irondome: Sometimes when I read comments like this I feel like trashing it... keep ur lessons to ur self bro. preach those sermon when $1=1Dollars as ur oga promised |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by grandstar(m): 7:16pm On Feb 21, 2016 |
ranktzy: Currency depreciations and devaluations do not exist in a void. They are caused by one factor or the other. For instance, the dollar has been appreciating against the Euro and other currencies in the past 1 year. That means the naira will depreciate against it. Also, inflation is an implicit devaluation of your currency. If the inflation rate is 10% per year, that means the currency is worth 10% less than the previous year. In the short or long term, such a currency has to devalue. Countries with very low inflation tend to maintain their value vis a vis countries with higher inflation. Next, if your currency is properly priced, you can never deplete your reserves! A good example is India. In 1991, it had only $1b in its foriegn reserves. It was in very desperate situation. It now allowed the currency to float, to be fully determined by market forces. Immediately, dollars started flowing in from abroad replenishing the foriegn reserves. From $1b, it now$295b. Buhari has done the complete opposite of floating and the country is in a dilemma. You speak of depleting the reserves but you are silent on replenishing it? How do you bring in more dollars? That is where the government is failing. Nobody will bring in forex at 197. Those who receive WU are livid at the poor rates. Is it someone bringing in $10m that will be pleased? 5 Likes |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by hamilton62(m): 7:19pm On Feb 21, 2016 |
obailala:You are saying the truth in analysis but what product do your presidents, house of Assembly, Judges, Ministers use? How can you tell one to eat what you dislike, isn't that poison? How has the Government of this country encourage manufacturing? No good road neither enabling environment, monopolised entrepreneurship with government backbone, what's the difference between Aba and China but the Government has a bilateral relationship with china when almost all the products are manufactured here but just that some zones aren't to be encouraged in their agenda since they have the technical-know-how? Whenever the apex starts living by examples I.e wearing and using made in Aba, Nnewi etc products then the people at the base will reciprocate... Hypocrisy is when you put on original Hermes, Joop, YS, Mark and spences etc and tell me to buy made in Aba. |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by bebe2(f): 7:24pm On Feb 21, 2016 |
tempest01: Aberdeen wet dey my backyard. I operate all over the UK, also transfer money to naija. |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by coretechng1(m): 7:42pm On Feb 21, 2016 |
tolugar:Do you know if he has other accounts loaded with money. Don't judge. |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by britiko: 7:43pm On Feb 21, 2016 |
magicminister: For foreign transactions and Atm withdrawals stay clear off zenith. They rip off their clients. When Cad was 162 with other banks, Zenith charged me 247. Next time use standard chartered or ecobank. Zenith is a NO No... I stay clear off them in my best interest. |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by bossGeh(f): 7:58pm On Feb 21, 2016 |
Dear Op, next time u want to carry out such transactions, please call your bank and ask for the conversion rate. Sowy ehn |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by HAH: 8:04pm On Feb 21, 2016 |
Yes CBN gives out dollars to bank at official rate on some specific items that are valid for fx (through a form issued by CBN called form M), like buying agricultural equipment and other production machinery, Bank also source their dollars from blue chip companies and oil companies, usually at rate higher than what it is obtained from CBN but not upto black market, so other items that we source fx for that is not valid for fx from cbn are financed from dollars sourced from those companies, hence the high rate Hope this explains the high rate charged by banks for some lifestyle item bought in dollars 1 Like |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by tolugar: 8:28pm On Feb 21, 2016 |
Abayor7: And while you are passing, you'll clean my nails en we'll laugh over it all. |
Re: Zenith Bank Charged Me This For A 5Dollar Transaction *pix Attached**** by Nicur: 8:36pm On Feb 21, 2016 |
magicminister:abeg ask am where zahria Buhari and her siblings dey school? and how they pay school fees? |
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