CBN Says It Can’t Reverse The Ban On ATM Card Use Abroad

The decision of Deposit Money Banks, DMBs, to place a restriction on the use of ATM cards abroad by bank customers is due to scarcity of foreign exchange, the CBN has said.The CBN said although it sympathizes with Nigerians for the sufferings they are experiencing in carrying out transactions abroad, it can't reverse the decision of DMBs and the CBN is in support of it as it would assist in reducing the pressure on the Naira.The Director, Monetary Policy Department, CBN, Mr. Moses Tule, explained that the restriction might continue until Nigeria could increase its foreign exchange earnings. He said if banks had not taken the decision to restrict the use of the ATM cards abroad, some of them would current be experiencing challenges meeting the overseas demand of their customers.May GOD help Us.. AMEN!!!

Comments

ABIA GOVT TAKE MADE IN ABA TO USA

As part of Governor Okezie Ikpeazu's campaign for promoting Made-in-Aba products, Abia State government and Abia State National Association, U.S.A. and North America, ASNA-NA,showcased the potentials and quality of Aba products to the international community during the association's national convention in New York City, USA. The event saw many designers, such as Chumar, and thousands of products shipped in from Aba on display, with models on the runway, adorning Aba-made designs. According to the Special Assistant to the Abia State Governor on Diaspora Matters, Mr. John Ndubuisi, all the outfits on display were sold out and orders placed, noting that Made-in-Aba designs will soon be competing in the American market. He added that with the clamour for restructuring, Abia State Government is working to grow the local economy, provide employment, empower skilled artisans and boost internally-generated revenue, stressing that Aba, dubbed The Japan of Africa for its entrepreneurial ...

Insurgency: UN, FG launch $1bn 2021 Humanitarian Plan for North East

The United Nations and the Federal Government along with development partners have launched the 2021 Humanitarian Response Plan for the insurgency-ravaged northeastern part of Nigeria. The Humanitarian Response Plan represents a collective vision for humanitarian action in 2021, and requests US$1 billion to enable partners provide critical services to the 6.4 million most vulnerable people – from a pool of 8.7 million people in need of some form of humanitarian assistance in 2021 in Borno, Yobe and Adamawa states. According to the UN, a combination of escalating conflict, displacement, and disruption to and loss of livelihoods due to COVID-19 restrictions, could lead to hunger for millions of Nigerians living in the north-east. The plan, therefore, is based on assessed needs and the realistic capacity of the United Nations and non-governmental organization partners to implement required actions. Speaking at the event, Minister of Humanitarian Affairs, Disaster M...

TO ALL ENEMIES OF MMM

It's high time we call a spade a spade. The earlier the better for FG, House of Rep, CBN, all Banks and Bloggers to be careful and takeoff their dirty, stinky mouth from the rate at which they mouth-spoil MMM. As a matter of fact, the only reason why Nigerians most especially youths are not on the street demanding for Buhari's head is because of God sent schemes like MMM. If they don't know, let us tell them that WE (participant of MMM) can decide to stop patronizing banks (switching to bitcoin) if they (FG, CBN and local banks) will not see reasons to stop given us issues . Are they blind to see or deaf to hear the news of how a particular president in Africa encourages Youths to take up the opportunities. I believe they know MMM is the CHANGE we've been praying for long ago. If they don't backout, the banks and Nigeria economy will end up regretting because they will end up forcing us to create and promote a platform where we buy and sell in Bitcoin (The Hard ...

9JATRAFFIC

Search This Blog