₦airaland Forum

Unserious

Sincere9gerian:
It is actually the cbn policies, though with the approval of the president. In the absence of finance minister and economic team, Emefiele has come to the rescue

Cbn is independent,doesn't need approval of president to effect its policies.

All i can see is CITYPEOPLE.COM

cybertyrant:
biafran and nigerian army training for 2015 war

Lmao,Biafran army fighting with sticks(koboko in pics) and cutlasses since 1900.
Abeg I'm for Biafra before you e-bomb me

%&%

**

Ukpor has a vast space of arable unused land suitable for palm plantation,make Una carry this investment come my village. >

FKO81:
Good morning all! My task took me two days to cover, I started late on Saturday day, went back on Sunday after church service and it lasted till evening, though there are other areas still to cover it's a process, my update might take up to two days or more, because I have a lots to do this week especially today.

Pls allow the chino/abagworo guy to finish his madness before you continue,he obviously saw your post I quoted above and immediately let lose his numerous moniker to get you distracted,kindly ignore this guy.For your info chino and abagworo is the same person and not from alaigbo, you can take that to the bank.

Southwest:
look at that fugly bastad called oby...useeless thing

Abeg thread kiafully,this is someone's sister.

Some people keep looting our treasury dry since 19..BC

MrCEO69:
Pls i dnt understand, dose it mean i can't withdraw with my ATM in Ghana, i will be going bck to school on Saturday oh, and a friend of mine is complaining already, what den should we do? Pls help oh, i need explanations oh.
Pls help explain more, when to complain to ecobank here in lag dey didnt even mention these.
vimi
redcap

This policy doesn't in any way affect cards linked to personal accounts (savings/current),it only affects those cards linked to corporate(registered companies) accounts.though someone on this thread has actually mentioned earlier that he was unable to use the same UBA MasterCard,but I think that case isn't related to this policy.
My advice; for the benefit of hindsight I'd suggest you stop over at Cotonou or lome,make your withdrawal in CFA then exchange it to at the border to GHcedis then proceed on your trip.
NB: The attached pics below is a circular from cbn.

ruggedtimi:
uba mastercard

When Last did you use it successfully.

ruggedtimi:
already banned too..

Pls clarify,u mean WU transfer is also banned?

dahjor:
I'm not a finance expert, but i'm sensing that the Bureau de change will be in trouble here.
It's a way of making us open a dom acct, and all exchange would be done in the bank and at bank rate... Gbese

I hope this will be the case but I seriously have my doubts.

They'll soon ban use of western union for outbound transfer.As long as this policy will shore up the value of naira then no problem.

Just when I'm almost done gathering cards to access fund on my next trip abroad,now this.CBN should put their act together this restrictions is becoming unbearable.

Mods kindly move this thread to FP,travellers needs to stay informed to avoid being stranded abroad.
Cc.lalasticlala,ngwakwe

Three months after it reviewed downwards the existing limit on the usage of naira denominated cards for transactions overseas, the Central Bank of Nigeria (CBN), in continuation of its forex curbs, has said that such cards would not be allowed for crossborder payments.

In a circular to banks posted on its website yesterday, the apex bank stated that where a company requires a card for overseas payments, such firms should be encouraged to obtain foreign currency denominated cards, which would be issued against its domiciliary account, prepaid or credit card, “whose limits must be in line with the existing BTA provisions.”

The CBN further directed that henceforth banks must submit reports of all naira-denominated card transactions consummated overseas to the Nigerian Interbank Settlement System (NIBSS) on a daily basis According to the circular, which was signed by the Director, Banking and Payment System Department, Mr. Dipo Fatokun, “The report must be sent electronically in CSV format, via a file upload portal as specified by the NIBSS, which would include the Bank Verification Number (BVN) and the account numbers of the cardholder for each transaction.”

The CBN also directed banks to inform cardholders that the banking industry has instituted a tracking system on the use of naira denominated cards abroad, warning that violators of the fresh directive would be sanctioned. Last April, the banking watchdog had pegged the existing limit on the usage of naira denominated cards for transactions overseas at $50,000 per person per annum, representing 66.7 percent below $150,000 where it stood. It also directed authorised dealers to ensure that the daily cash withdrawal limit embedded in the cards per person, per day is pegged at $300.

Besides, the CBN last Wednesday stated that beyond the exclusion of funding for 41 items in the interbank forex market, the items cannot also be funded from proceeds of exports as well as the bureau de change (BDC) segment of the forex market. The latest directive by the CBN, which has shied away from devaluing the naira, was done to reduce pressure on the informal or BDC segment of the forex market, where the local currency plunged yesterday as importers sought alternative sources for dollars after the central bank stopped foreign-currency funding for 41 items. In the BDC market, the naira declined to N230 to the dollar from N226 on Tuesday, the President of the Association of Bureaus de Change of Nigeria, Aminu Gwadabe, told Bloomberg in an interview.





http://newtelegraphonline.com/cbn-restricts-use-of-naira-denominated-cards/

A second Biafra war win or lose will certainly bring about the disintegration of Nigeria and ultimately berthing the peaceful nation of biafra..FACT.

You guys should stop posting these trashy pictures,with this trend neutral igbos like me wouldn't think twice before joining the biafran army to take my own revenge.stop being f00lish pls.The war is fresh in our memory and we don't need anyone to remind us of what actually happen.tbh the reality/enormity of Biafra war can never be represented by mere pics.

Similar thread made FP this morning,while this one posted by me is still stuck in here.If I shout marginalization now Una go say I be Igbo . Lalasticlala app take note

Kudos to IU for this great feat.Though our govt. still has to do alot more to position all our educational institutions to at least be best in Africa.If we pride ourself as the giant of Africa then our institutions must be at the top level.

Cc. Lalasticlala

http://www.thisdaylive.com/articles/ui-is-nigerias-best-university-8th-in-africa/214037/