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Wednesday, September 21, 2016

Who is fooling who at the CBN?


Image result for CBN Governor

After calling bureau de Change to recapitalise, the Central Bank of Nigeria did a ‘speedyracer’ u-turn to stop all business within that sector. Months later, CBN turns again and call them back to work. The number of lives ruined due to this action is not just criminal but perceived to be the tyrannical works and directive of the APC Change Mantra. Not true.

In another development, the Central Bank of Nigeria is perceived to have directed commercial banks to stop their naira cards from dispensing dollars via ATMs to customers in foreign countries as well as the use of naira debit or credit cards for online transactions priced in foreign currencies. This is rendering a lot of Naira Cards to flanked as fake, not legal tender and or not acceptable for transaction. Its painting Nigerians doing business online as Fraudulent.

Presently, Skye Bank Plc, Guaranty Trust Bank Plc (GTBank), Standard Chartered Bank, and Stanbic IBTC Bank have already stopped the withdrawal of foreign currencies from the ATMs by their customers who travel abroad. No notification or fall-back for payment as low as Ten Dollars ($10.00).


The question is what is CBN doing to see that the rate of unemployment is reduced? Is it by frustrating the average Nigerian Youth from Online LEGAL Business? What Is the President doing with CBN ? Is it true that APC took such a decision? Who is fooling who at the CBN?

Anybody ?