CBN Offers Banks $20m Weekly Allocation For Invisibles - Business - Nairaland
Nairaland Forum › Nairaland General › Business › CBN Offers Banks $20m Weekly Allocation For Invisibles (13323 Views)
| CBN Offers Banks $20m Weekly Allocation For Invisibles by Adesiji77(op): 11:16pm On Feb 17, 2017 |
Each of Nigeria’s twenty banks will receive an allocation of one million dollars weekly from Monday for sale to their customers to cover medicals, school fees, personal and business travel, BusinessDay has authoritatively learnt. The relief was agreed at Friday’s bankers committee meeting. Details later... http://www.businessdayonline.com/cbn-offers-banks-20m-weekly-allocation-invisibles/ Mynd44, lalasticlala, dominique 1 Like 1 Share |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by kabrud: 11:36pm On Feb 17, 2017 |
Watch and see how the bank top management staff will seize this as opportunity to enrich themselves. I know this wouldn't work, the corruption wey dey naija, I no fit shout abeg. 39 Likes 1 Share |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by veekid(m): 8:00am On Feb 18, 2017 |
chai! Chisos! $20m? 4 Likes
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| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by veacea: 8:01am On Feb 18, 2017 |
Niaja: I used to think that the reason this country is in dis situation wasn't the lack of policies but rather lack of will power to implement but now I guess policy no even dey 3 Likes |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by farouk2much(m): 8:01am On Feb 18, 2017 |
first page kawai |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by fulaniHERDSman(m): 8:01am On Feb 18, 2017 |
 Who will monitor it .... abuse already in the offing 8 Likes |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by Einl(m): 8:03am On Feb 18, 2017 |
I work in a bank. I know how PTA and BTA is sold. All the money is for the top management and their friends. Normal walk in customers won't get sh¡t. 50 Likes 4 Shares |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by Jabioro: 8:04am On Feb 18, 2017 |
It would not definitely have no effect ..another corruption avenue for the bankers 2 Likes |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by habex005(m): 8:04am On Feb 18, 2017 |
We need serious policy, what is this? 2 Likes |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by clems88(m): 8:04am On Feb 18, 2017 |
OK na . they yaff come again 1 Like |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by MosD: 8:04am On Feb 18, 2017 |
The dollars will still end up in black market 2 Likes |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by DozieInc(m): 8:05am On Feb 18, 2017*. Modified: 9:28am On Feb 18, 2017 |
The Finance ministry, CBN and co. are just deceiving themselves. 1 Like |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by ebonytarki(m): 8:05am On Feb 18, 2017 |
Anoda room for embezzlement 1 Like 1 Share |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by thestevens: 8:05am On Feb 18, 2017 |
For ghost in Baba's govt 1 Like |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by decepticos(m): 8:05am On Feb 18, 2017 |
Its small sha |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by Miles300: 8:06am On Feb 18, 2017 |
It's only in nigeria corruption is about politicians looting ..... We know how to make policies but enforcing is alys a problem ... This one is dead on arrival nothin will work 2 Likes |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by Mayor75(m): 8:06am On Feb 18, 2017 |
Ha! This is an opportunity for all those corrupted top managers 1 Like |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by Kx: 8:06am On Feb 18, 2017 |
Do the same thing over and over again an expect a different result?? It's time for a fresh idea over there at the cbn. What's wrong in trying out another hand for God's sake  3 Likes 1 Share |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by wildchild1: 8:07am On Feb 18, 2017 |
How does this affect the commom who doesn't have a child abroad, who doesn't have to go abroad for medical care? Check my signature... football Jerseys available 1 Like |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by repogirl(f): 8:08am On Feb 18, 2017 |
I'm skeptic but still hopeful. 2 Likes 1 Share
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| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by mesoprogress(m): 8:09am On Feb 18, 2017 |
Tool small and also not a good idea. $1M=N320M for each bank per week. Who's it going to serve? Bankers will just share it among themselves |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by mailingdgreat: 8:10am On Feb 18, 2017 |
It will still end up in d hands of black market operators and work done will be zero. Who is now deceiving who? 2 Likes |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by Dfinex(f): 8:11am On Feb 18, 2017 |
wildchild1:must u comment? |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by ednut1(m): 8:11am On Feb 18, 2017 |
Einl:when u bcom AGM u self go do same too 1 Like |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by emperorAY(m): 8:12am On Feb 18, 2017 |
We need a blueprint for d economy nt dis trial and error. Policy dat will crash tomorrow. Anyway happy looting to d bank managers We need a blueprint for d economy nt dis trial and error. Policy dat will crash tomorrow. Anyway happy looting to d bank managers 1 Like |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by Rollsnjaguar(m): 8:13am On Feb 18, 2017 |
Am more Interested In the business travel 1 Like |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by Einl(m): 8:14am On Feb 18, 2017 |
ednut1:Hmmmm...how do you know? You've suddenly become Mystic Meg? |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by sholatech(m): 8:20am On Feb 18, 2017 |
Another flip flop..This is clearly CBN immediate response to the FEC order that they should tweak the foreign exchange policy. My observation and projection: 1. It will give interim stability to the daily galloping ride of the Naira to the USD; 2. Weekly sales to BDCs via Travellex will reduce; 3. It will reduce the rate at which our foreign reserves have been increasing of recent. 4. Signals we will have devaluation soon from the official rate of 305 to band within 375-400 Naira to 1 USD 4 Likes |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by Kobicove(m): 8:24am On Feb 18, 2017 |
The gap between the official and the black market rate is very wide...this encourages corrupt practices in banks on a grand scale  Top management staff will divert a significant portion of the funds to their cronies and their BDC Why would a bank staff own a BDC? Some of them even own up to 2 or 3 different BDCs The rot in the Nigerian system is deep rooted! 2 Likes 1 Share |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by deenee: 8:24am On Feb 18, 2017 |
Everybody in Nigeria is corrupt. This is the same pattern that played out with the ECA during Jona's time. The bank directors are putting pressure for money to be shared from the foreign reserves esp now that it's itching towards 30b dollars. The truth is I doubt is our FX invisible needs is up to amount to be shared. What will happen is that it's will eventually end up in the hands of the black market people when it has been hijacked by the top mgt in the banks Later someone will come here and start abusing Buhari and the CBN gov. 1 Like |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by MabraO: 8:25am On Feb 18, 2017 |
Adesiji77:Is it that the present CBN governor can't be sacked? That guy ruining this country 4 Likes 1 Share |
| Re: CBN Offers Banks $20m Weekly Allocation For Invisibles by Obinnau(m): 8:25am On Feb 18, 2017 |
instead of this silly policy, why not do some manipulations and increase customers monthly dollar limit by say 50 or 75%? 3 Likes |
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