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Monday, 17 October 2016

Dollar scarcity: Banks suspend usage of Naira debit/credit cards for transactions abroad

As part of efforts to manage the dollar crisis, Deposit Money Banks in Nigeria have sent out messages to their customers notifying them that they cannot use their Naira debit/credit cards for any transaction abroad for now.

A message sent by one of the banks pictured above, states that all transactions done outside Nigeria will henceforth be via a dollar debit/credit card.

The implication of this is that Nigerians who are to do transactions abroad, this include students studying abroad, will have to open domiciliary accounts and fund the account with dollars, pounds or euros purchased from the parallel market at the prevailing exchange rates.

32 comments:

livingstone chibuike said...

K

OSINANL said...

BUHARI IS A DISASTER

john doe said...

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OSINANL said...

OKAY!

Eddy Ogbunambala said...

Na waoo

Ike Louisa said...

Change every where.

Ike Louisa said...

Change every where.

christie benjamin said...

God ure needed at dis point before APC leaders destroys this country!

Abosede Ojuade said...

we don hear.

Iphie Abraham said...

So it's that bad. Ok o









Lib addict#just passing#





Lib addict#just passing#

Fortunatus Ifenna said...

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Ndubisi Tochukwu said...

This is true o. My cousin in Georgia told me dat
Signed
LibBadBoy

LIB REP (中华人民共和国) said...

MUDAFUCKING GOVT...WE CANT EVEN USE OUR OWN CARD WHICH WE HAVE THE RIGHT TO ALL BECAUSE WE ARE FROM A FUCKING MESSED UP COUNTRY???

Beuam said...

Chai it's gereing serious





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Kunle said...

its serious. Went through hell on Friday. Had to withdraw from my naira card, buy dollar, pay into my Dom account before i was able to pay for a hotel outside the country.

Spent hours doing that!....... Wat a country!!!!!!

Kelechi Nwagbara said...

Please does this affect online shopping.

Juliet Iwuno said...

Dis doesn't sound good. Linda take note!

Kunle said...

@ Kelechi, it affects online shopping so far you are paying in dollars using your naira card.

Anonymous said...

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Anonymous said...

This is bad for businesses especially the ones that are just coming up. These people holding us to ransome aren't they tired yet? I still hold the opinion that thus recession is man made simply to favour some people. The common man has no hope in this country, he's used as a pawn by some heartless players who don't give a damn if the common man lives or dies.

Anonymous said...

Una sabi spoil biz.

Uju Phil said...

This is really serious,they have totally ruined the economy!!! #APCShame

CHERYL (aka FROM GLORY to GLORY) said...

So unfortunate for us as a country. Must they just continue to make things so hard and difficult for us?


Long Live LIB

Anonymous said...

Of course , in fact online shopping is the reason why they probably did it. This is not good especially for me, it will affect my business, I don't like this at all. Not to talk of customs increasing their charges every now and then.

Anonymous said...

The price of dollar has been going down hope this won't push it back up

Anonymous said...

And that will increase demand for dollars,thus it will skyrocket. mark my words dollars will soon be above 500. Can't this people think. Instead of easing off the demand you are adding to the burden. Cbn governor and finance minister shd be sacked. They know nothing.

Arouna Njoya said...

not again!!!! are there even any moves made to ease the pressure on the dollar? what is wrong with this administration? is there a Minister of finance in this country? everyday president was in a meeting with economic and financial council....what do they talk about?? Lord!!!! does the CBN governor really understand what he is doing??

Vivian Reginalds said...

hmmm
-D great anonymous now as Vivian Reginalds

Unknown said...

Loool Na today? First bank, Zenith Bank etc all stopped people from using their Naira master cards for international transactions months ago, so this isn't new lol.

Anonymous said...

Way that Abokidawarriboy him not go come comment rubbish here?

Xtian said...

So this means that the Naira is now useless?!

Anonymous said...

A lot of our pple outside the country now are all stranded because there is no notice ahead so that they can make proper preparations. Imagine having money in your account and not be able to withdraw ESP d Intl students.

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