Ammishaddai:
...and we have our Yahoo boys and girls to thank for this . May God punish them wherever they are (amen)

Educate yourself young man, this has nothing to do with Yahoo boys, they want to put limits on conversions and ease the stress on our weak Naira. They don’t have dollars so when you buy something online they are forced to use the bank rates for conversations. You are still able to spend what ever you want if you have a dollar master card and fund it with dollar. They believe by doing this people will consider funding there account with dollar deposits hence dollar will be available and rates will drop.

Ammishaddai:
...and we have our Yahoo boys and girls to thank for this . May God punish them wherever they are (amen)

Yahoo boy is not the main reason for setting dollar spending limit. Every country wants the money to remain in their country. No country wants people to repatriate the money meant for growing local economy.

Ammishaddai:
No, but it's one of the biggest places notorious for such activities .

Although, I stand and will always stand against all forms of cybercrime, your statement is a lie. Thete is the US, Russi, India, China and Mexico at least before Nigeria.

Ammishaddai:
Aunty , if other services like PayPal and Transferwise were operating, won't the narrative be different? Of course it will. But we don't have that ...all thanks to those Yahoo criminals lurking in cyberspace

I notice you have fuse with Yahoo boys, but try to read and understand what CBN policy on dollar is before showing ignorance on a public forum.
Several persons have mentioned to correct you. You are still shouting "Yahoo boys".
Na wa o

real explanation of Buhariconomics. Poverty

iykepromotions:
Best is to open domiciliary account if you don't have and get their dollar card. Gtbank limit is still $200 though.

Domiciliary account means you source dollars your self.

Newboss:


CBN is scared that we may run out of Forex if people are allowed free access to Forex. It's also part of their way of stopping the free fall of Naira. Fire brigade approach.

I still remember that endsars period. Had to use crypto to make some international payments because the $100 limit my bank placed on my debit card was useless

Na justified fraudulent activities, dey cause all these sanctions...

Which kind of people wey Africans be?

Una no dey think?

UBA has been deducting money from those doing international transactions illegally for months now. It could be coming from this angle. UBA is the only bank with this $20 spending limit so far.

Ammishaddai:
Fraudulent activities and illegal money laundering schemes. That's why PayPal and other payment methods don't operate in Nigeria anymore. It's also one of the reasons why your spending is limited on International transactions with all banks nationwide

This is not really true. It's due to the unavailability of dollars in good quantity.

Ammishaddai:
[s][/s] You're just talking through your anus. There are countries with worse economies yet they still retain alternative pay systems that allow citizens spend and make transactions with any foreign currencies as they like . Unlike here where your Yahoo friends have virtually crippled all e-payment platforms like PayPal, Transwise and flutterwave from operating in Nigeria all because of cybercrimes. In fact, wasn't it for this same reason that CBN stopped cryptocurrency from operating in Nigeria ...? Mtchww...continue giving excuses for your Yahoo friends. Your unborn children go hear am . Nonsense

Every reasonable and decent Nigerian must disagree with yahoo and every manner of get-rich-quick scheme. Truthfully they have seriously damaged our ability to use the platforms of some of these international organizations. But sadly, that's not the reason why we cannot use our ATM cards abroad or make some of these dollar transactions.

Look back at the beginning of this regime in 2015. You will recall that it took the president several months to form his cabinet. Within that period our currency was shaking. We were told about "the body language" of the president. Before then you could use your ATM card on any machine around the world. We had daily limit of $300 per day. I was a victim of the problem. They then told us that our foreign reserves had depleted and we could no longer use our cards abroad. Do you remember the word "unavailable". Each time the banks did not have dollars to sell to customers. Bureau de change operators sourced for dollars in Togo, Ghana, etc. CBN did not have dollars to sell to banks. Remember the "policy summersaults"? It took ages to restore it and the banks reduced the daily limit. This government ruined it all.

The major problem is the state of our economy. Everyday our economy goes from bad to worse with very unfavourable economic policies.

Victerica:


Na justified fraudulent activities, dey cause all these sanctions...

Which kind of people wey Africans be?

Una no dey think?

No be fraudulent activities.

Banks don't have enough dollar. So they're rationing what they have. CBN has released several memos to this effect.

Abeg, carry your conspiracy theory go your grave. I no wan hear nonsense this cool evening.

NGRComrade:
Okay. Does that mean Nigeria is the only country in the world where those illegal activities happen?

PayPal still operates in Nigeria till this moment, just that users cannot get paid for now which according to them is as a result of Nigerian financial policy.

You can still receive payment on PayPal via 3rd party services.

BritishNaija:


That tranwise really affected me too from sending money from uk to nigeria. Was using luno then it got blocked, then remittance company got blocked too.

Use Eversend, thank me later.

Ammishaddai:
[s][/s] You're just talking through your anus. There are countries with worse economies yet they still retain alternative pay systems that allow citizens spend and make transactions with any foreign currencies as they like . Unlike here where your Yahoo friends have virtually crippled all e-payment platforms like PayPal, Transwise and flutterwave from operating in Nigeria all because of cybercrimes. In fact, wasn't it for this same reason that CBN stopped cryptocurrency from operating in Nigeria ...? Mtchww...continue giving excuses for your Yahoo friends. Your unborn children go hear am . Nonsense

Yahoo boys are terrible but they're not the ones responsible for scarcity of dollars. Okay? Stop disgracing yourself.

Payment systems not operating in Nigeria is different from banks capping the amount you can spend. Read up!

Newboss:


No be fraudulent activities.

Banks don't have enough dollar. So they're rationing what they have. CBN has released several memos to this effect.

Abeg, carry your conspiracy theory go your grave. I no wan hear nonsense this cool evening.

Why don't Banks, have enough dollars?

Bro think

Pierocash:
stop delving into what you lack knowledge of.

Yahoo boys aren't the reason. The reason is simply because CBN has come out with policy of no more selling fx to bank. The cbn governor told banks to go source for their own forex any way they can,that CBN will no longer support bank with forex, after all,it is their bread and butter.

So for this reason,access bank cut down their international spend limit from $300 to $100, exclusive card from $500 to $200 for monthly subscription,$1000 from $2000. Increased their dollar rate from 470 to 490 ,and other Banks like uba and eco bank followed suit . More banks will follow too. All is to boost their fx reserve against the time the cbn directive will take effect.

Stop spewing gibberish.

I use PayPal both local and 2 foreign PayPal Account.

That policy you are referring to has not started o. CBN governor clearly said by the end of this year

iykepromotions:
Best is to open domiciliary account if you don't have and get their dollar card. Gtbank limit is still $200 though.

Opening domiciliary account isn't easy..besides..GTB is $100

Ammishaddai:
...and we have our Yahoo boys and girls to thank for this . May God punish them wherever they are (amen)

shut your damn mouth 'fore you dropped, nigga

COMPAQ:


That policy you are referring to has not started o. CBN governor clearly said by the end of this year

that is why they are doing a his to boost their fx reserve

silibaba:
Gbege.



https://twitter.com/theoluwa/status/1497190277060177920?t=XXzuM4uhfV7WMDlZdXl0oA&s=08



https://www.thecable.ng/uba-international-spending-limit-on-naira-card-hits-record-low-20-per-month/amp

AJohnnasa

Ammishaddai:
No, but it's one of the biggest places notorious for such activities .

not true

To buy buns or what

Boss, show me the way...

iLegendd:
This is why it's good to make and recieve your money in Dollar so that banks won't tell you the amount of Dollar to spend online.

Emphasis is for Naira cards please

What’s requirements to send to receive money though Western Union ?

Ammishaddai:
Fraudulent activities and illegal money laundering schemes. That's why PayPal and other payment methods don't operate in Nigeria anymore. It's also one of the reasons why your spending is limited on International transactions with all banks nationwide

person go just dey him papa house dey quote nonsense. dollar Spending limit is Down in nigeria because of our economy , naira and importation and exportation ratio. Yahoo bois no even make up to 1 quarter of dollar spending in nigeria.

Ammishaddai:
Aunty , if other services like PayPal and Transferwise were operating, won't the narrative be different? Of course it will. But we don't have that ...all thanks to those Yahoo criminals lurking in cyberspace

Jesus Christ, some people are really stupid in this country. Your level of illiteracy is alarming and the funny thing is you don’t even want to learn. Everyone is pointing out the problem but you no wan calm down listen.
The reason why Transferwise and Co stopped working is because of the terms giving to them by CBN. They where asked to charge transactions in Dollar instead of Naira so if you want to send money to Nigeria they will charge that card in Dollar so banks will have to process that payment in Dollar therefore creating inflow of Fx into Nigeria. They couldn’t agree and disabled sending money to Nigeria entirely. The notice is even on their website but you won’t read it. That is why you sound like a high level illiterate.

If you are using UBA or any bank's dollar debit card would you have restrictions?

iLegendd:
This is why it's good to make and recieve your money in Dollar so that banks won't tell you the amount of Dollar to spend online.

Ammishaddai:
[s][/s] You're just talking through your anus. There are countries with worse economies yet they still retain alternative pay systems that allow citizens spend and make transactions with any foreign currencies as they like . Unlike here where your Yahoo friends have virtually crippled all e-payment platforms like PayPal, Transwise and flutterwave from operating in Nigeria all because of cybercrimes. In fact, wasn't it for this same reason that CBN stopped cryptocurrency from operating in Nigeria ...? Mtchww...continue giving excuses for your Yahoo friends. Your unborn children go hear am . Nonsense

You are capping nonsense. Where did you get all this trash from?
This move is motivated solely by economic reasons. However, it is a bad one.

Ammishaddai:
Fraudulent activities and illegal money laundering schemes. That's why PayPal and other payment methods don't operate in Nigeria anymore. It's also one of the reasons why your spending is limited on International transactions with all banks nationwide

Ignorant comment.

PayPal doesn't operate in several countries of the world (mostly Africa, Asia and a few European countries).

Is it because of Yahoo?

It is simply due to the bad economy and scarcity of dollars.

Ammishaddai:
Fraudulent activities and illegal money laundering schemes. That's why PayPal and other payment methods don't operate in Nigeria anymore. It's also one of the reasons why your spending is limited on International transactions with all banks nationwide

This is not true. Scarcity of FX is the problem. If scam is the primary issue, why did Stripe, as US competitor to Paypal, purchase paystack for $250m??

You Sabi wetin dey happen.

Ammishaddai:
[s][/s] You're just talking through your anus. There are countries with worse economies yet they still retain alternative pay systems that allow citizens spend and make transactions with any foreign currencies as they like . Unlike here where your Yahoo friends have virtually crippled all e-payment platforms like PayPal, Transwise and flutterwave from operating in Nigeria all because of cybercrimes. In fact, wasn't it for this same reason that CBN stopped cryptocurrency from operating in Nigeria ...? Mtchww...continue giving excuses for your Yahoo friends. Your unborn children go hear am . Nonsense