The Central bank of Nigeria has given reasons why it has put a restriction on the Naira debit card abroad.
The Director Monetary Policy of the Central Bank of Nigeria, Mr Moses Tule Speaking at an interactive session with journalists in Abuja,said that naira debit cards can no longer be used outside the country due to the abuse it has suffered in the hands of some persons who use it to transfer foreign currencies illegally.
According to him the nation’s foreign reserves has been heavily depleted due to the fall in the price of oil and as such, it had to place some restrictions on the use of naira debit cards in addition to banning the use of the United States dollar as a substitute for the naira.
So how does this provide me a Christmas rice and Chicken?
ReplyDeleteMerry Christmas to all SDK BVs, may you witness more of it
*Larry was here*
We haff hear
DeleteHmmmm
DeleteBuhari's rules are sudden n harsh. U don't make rules like this without creating alternatives!!
Innocent people are suffering this rubbish. The looters* are just like 35percent or even less!
Make rules for the benefit of d larger majority. Majority rules
Somersaulting policies. Only God can save us.
DeleteI walked into heinemann duty free now, picked some stuff. Total amt 831euro, it's time to pay I gave all the card I have, all declined, went to geldautomat, the deutsch name for atm, they said contact issuer, see embarrassment. Went back and cancel the purchase. Let it be on the record that Nigerian government have embarrassed her citizen @ Frankfurt airport. It just look as if I don't hv money and be trowing things inside my cart. President bubu and co, God is watching all of una with 3D.
DeleteI manage to buy small with the leftover cash I hv sha.
Krix via iPhone 6 gold
Enter your comment... So many useless married men. U agreed to help me bt backout cos I refused to sleep wit u. I need serious help n ws glad u cud help out bt nw u said so many stupid tins. I hate u nw n I knw u readin dis Mr Ade....
ReplyDeleteTo hell with you mr Ade, Fool.
DeleteYoruba man n his wandering prick
Haaaa. Na by force to help ni? Take it easy. If u need help try use an id to comment so that people can easily contact u okay
DeleteTorrr this man has entered oh.
DeleteLook for a single man to help you and leave someone's husband alone. Do you know if he's starving his wife and kids yet you're asking him for money.
DeleteTule is high on Ganga weed! What does he mean by saying some Pple abused it by transferring foreign currency illegally? Can that be done and if yes then is it not d bank that authorized it? Confused change pple...
ReplyDeleteYou're an illiterate so go back to school. You're yarning dust obviously cos you don't understand financial policies or even English.
DeleteDo I blame u? Cos u r d only one in ur entire village that managed to go thru LEA. Capital IDIOT!
DeleteOK
ReplyDeleteOK seen.......Merry Xmas to everyone? Bv's in Anambra cook better jellof rice....cos am coming ooo
ReplyDeleteOk we have heard
ReplyDeleteDis explanation doesn't even make sense
ReplyDeleteYes because you spend your life here instead of getting an education
DeleteNah only God fit save this country. This is surly one of the signs of end time
ReplyDeleteThis government is vision less and super clueless. This what u get when somebody leaves his cattle rearing occupation to come and govern a country.
ReplyDeleteYou are a myopic fool! Plunker
DeleteHahaha dis guy is high on weed. Not only cattle but leaving kuli kuli n inions business toi
DeleteSharap.idiot u that is educated why not go to your home town an do something their than to stay on blog..which is better. A cattle rearer that has focus and something doing than an educated mofo that stays in blog 24 hours typing rubbish? Ode
DeleteSharap.idiot u that is educated why not go to your home town an do something their than to stay on blog..which is better. A cattle rearer that has focus and something doing than an educated mofo that stays in blog 24 hours typing rubbish? Ode
DeleteDon't be silly.
DeleteOga visioner, you'll be under this cattle rearer for 8 years so get over it
DeleteAnonymous 10:35 you must be a very stupid person I have been observing your comments since, you that knows it all do you know what this restriction is doing to honest traders, or students that school outside, because you are part of the APC supporters group doesn't mean we shouldn't voice our grievances, I see myself as a good citizen of this country who pays my tax wonder why I should be subjected to hardship of this magnitude because we have corrupt government officials, we they still listen to this excuse when tell them it is because of the corrupt government officials that is why I am evading tax, you and I know they will not
DeleteFair enough
ReplyDeleteWareva
ReplyDeleteOdiegwu
ReplyDeleteBut they should think of those who also use it for important things. ..my little sis is stuck without cash right now cos she can't use her debit card..and to think she's spending d hols alone right now hwne all her school mates have gone home..she's just been crying on fone..cos now d money is stuck in her account and she's broke...this is so unfair..
ReplyDeleteNne you're lying. It's not been implemented yet. It's from 1st of January. And why has she not opened an account there.
DeleteShe's not lying haba, I'm here in the Uk and I can confirm its been implemented already, my cousins card was declined at Heathrow... Talk about opening account here , my dad tried to send me money from his first bank account to my Uk bank Acc they simply told him it's not possible why?(somebody should tell me why) Lucia you guys should use western union it's our best bet for now!!!
DeleteI'm actually stranded aswell.. apparently i've exceeded the $1000 monthly limit. So Lucia is not lying. Cbn is making me have the worst Christmas ever.. whenever they make these decisions do they ever think of international students?? They didn't even give us notice to withdraw the money we had jn our account.. one of my friends can't withdraw from her 3 bank accounts. Its not fair atall
DeleteNa wa O. They should look for other measures that would be more effective. Their measures will affect small businesses doing online trading and affect mostly ordinary Nigerians. Cos we all know the rich have fat bank accounts abroad they can use so they don't need the Naija debit cards.Also, this measure is cutting us off from being global citizens (as per globalization). Why should Nigerians be unable to interact fully and do business and exchanges with others around the world? A while ago the government was trying to promote a cashless economy, now it feels like we are going back to the dark ages. I don't think the measure will even go far in aiding the economy. Experts, sabi sabi, now is the time to use your smarts to come up with rock solid solutions that will not take us back but move us forward with the rest of the world. This is my opinion. Voltrons can masturbate under my comment, but I have no time for you guys - its Christmas!
ReplyDeleteHonestly it'll affect everyone. Even holiday makers. I don't envy those who trade in petty businesses like buying and selling. As it is now, u can only get forex from the black market, which sky rocketed since summer. And the risk of getting fake monies is very likely. I'm totally confused. I hope this helps in the long run.
DeleteCashless policy within Nigeria is not affected. You have to suffer small to enjoy in the future. Your heroes past put us here and these are only measures to take us back to the glory land
DeleteAlright.. Cool
ReplyDeleteThis reason is nonsensical at best. Right now, one can't even pay for goods and services and the most affected are Nigerians who have wards schooling abroad. All because some "egg heads" decided to take the easy route out ibstead of looking for alternative means of stopping the slump.
ReplyDeleteBuhari and APC una nor dey see Argentina? A new president and in 6 bloody days has managed to literally pull a genie out of his hat. The dude has managed to resuscitate a dying economy in that time. Meanwhile 7 months later all I hear is one stooopid excuse or the other. I like Buhari but I also liked GEJ at some point.
Stupid comparison. Was the rot in Argentina 1/3 of that in Nigeria. Read wide instead of spending your lifetime on SDK
DeleteP.S you can call me fickle too.
ReplyDeleteYou are not fickle minded,you are entitled to your opinion.
DeleteSome one can disagree without being rude.
Merry Christmas strangerrrrr
You are entitled to your opinion, yes, but try to be well informed so you do not have baseless, foolish opinions.
DeleteMerry Christmas Stella and all bv's may the good deeds of this season be upon us all.
ReplyDeleteand the average man suffers for the sins of some thieving politicians.....
ReplyDeleteI am for anything that will stabilize the economy in the long run.
ReplyDeleteThis will just enrich BDC because whether you like it or not pple will travel and they need dollars. This is wickedness!!
ReplyDeleteBdc dealers are also suffering as a result of this implementation. So get your fact right. To me if this new policy is implemented properly and other thing being equal. then our economy will be able to bounce back
DeleteWhy must the masses always suffer because of d sins of most of dese corrupt politicians, bcos I am sure it is most of them doing this probably bcos Buhari also said some law makers shldnt have foreign accounts. It's so not fair. If you want to travel now you can't even buy PTA (foreign currency) from the bank, there is also restriction on that. It was dem that said they wanted cashless Nigeria, how will we withdraw hundred of thousands or even million to take to mallam to change, there is also restriction of ur daily withdrawals. they make some rules that even contradicts former policies. See how ppl can't also buy buy fuel in jerry cans, you don't give us lite and you also expect us to bring our gens to d station. How about ppl dat are not mobile, are they to carry dere gens on okada. Then how many times a week will you need to start coming back to refill. They start making laws without thinking of d common man. They all have diesel generators even fuel and paid for by the govt. how will they feel how dis is impacting the masses.
ReplyDeletemy credit card works
ReplyDeleteWhoop Whoop
I ain't bothered
Thank to my bank
It's only credit card you can use.
DeletePlease can someone travel to US or UK with naira?? When you get there you change to dollar??
ReplyDeleteI have only traveled within Africa and I know this is the norm. You change to their currency when you get to the country
I'm asking because I'll be traveling early next year and with all this bans and restrictions I want to know if I have another option..
I'm suppose to be away for 2 months so want to plan ahead
Merry Christmas Stella. SDK fam, I hail una too
ReplyDeleteFucking annoying. That explains why my friend's cards didn't work at the malls lastnight. Say make I borrow am money. When e reach he go pay back into my naira account. I look am. Laff well well. Me borrow person money for this Dubai. I dey craze? After Stephanie Chijioke.l duped me and disappeared to Naija. I have learnt my lesson
ReplyDeleteHahaha. Anonymous laying down the truth!
ReplyDeleteAnonymous with the credit card. Does that mean that credit cards works?
ReplyDeleteMy son will be traveling to India in January for his medical checkup, hubby and I have been wondering how he will manage with so much cash. Normally what we do is pay his fare give small cash for airport shuttle and pay all other money into his account and goes with his atm and it's been so easy but this time with this restrictions we are at our wits end. But don't our government think of all these scenarios before formulating their anti people policies?
ReplyDeleteI warned everyone on this blog during the campaign that this will happen but I was thoroughly insulted. The past administration despite its challenges had better economic managers and a human face. We are in hot soup now.
ReplyDeleteI warned everyone on this blog during the campaign that this will happen but I was thoroughly insulted. The past administration despite its challenges had better economic managers and a human face. We are in hot soup now.
ReplyDelete