Just yesteday, CBN ordered banks to start selling USD to interested buyers at 360 Naira per Dollar. Due to the scarcity of forex due to falling oil prices, most banks stoped transactions of naira card on international POS where as some other banks limited theirs to 100 and 200 usd respectively(GTB and ACCESS BANK). With the CBN's intervention, does it mean that banks have removed the threshold of naira card transactions on international POS?

mod we need to know pls place this on fp
BTW how is lalasticlalala spelt

godonzoki:
Just yesteday, CBN ordered banks to start selling USD to interested buyers at 360 Naira per Dollar. Due to the scarcity of forex due to falling oil prices, most banks stoped transactions of naira card on international POS where as some other banks limited theirs to 100 and 200 usd respectively(GTB and ACCESS BANK). With the CBN's intervention, does it mean that banks have removed the threshold of naira card transactions on international POS?

hope they remove the ban

celestialAgent:
I bet you that won't because this is not sustainable.

With CBN spelling go banks at 360, this shows their capability has limit and therefore giving BDC a hope.

Should oil price clamp down again, watch as naira will catapot to 1000/$

and you think you are making sense

OP...is too early to discuss that and in my right opinion i will not advise them to do so.

Ty207:


and you think you are making sense

OP...is too early to discuss that and in my right opinion i will not advise them to do so.

Aside from the grammatical error induced by auto-correct, you sure know I'm making sense!

All these recovery is pseudox and detrimental to the treasury.

No, they would not encourage Naira card International Spending for the foreseeable future because they have no control over what people pay for using that medium. Let's not forget CBN's Dollar to Banks presently is only for Traveler's Allowance, School Fees and Medical bills.