CBN Explains Restriction On Naira Debit Cards

The Director, Monetary Policy of the Central Bank of Nigeria, Mr Moses Tule, has been speaking on the recent restrictions on the use of naira debit cards and dollar transactions in the country.

At an interactive session with journalists in Abuja, Mr Tule said that naira debit cards can no longer be used outside the country due to the abuse it has suffered in the hands of some persons who use it to transfer foreign currencies illegally.

He said that the nation’s foreign reserves has been heavily depleted due to the fall in the price of oil and as such, the apex bank had to place some restrictions on the use of naira debit cards in addition to banning the use of the United States dollar as a substitute for the naira.

Comments

VIDEO: SAY GOODBYE TO PETROL & SWITCH YOUR GEN TO START RUNNING ON COOKING GAS

Video: Watch how to install DUAL FUEL CARBURETORS & start running your generators on cooking gas. 12.5kg of gas gives you up to 50hrs of electricity - that's about 10 days if you do 5hrs/day. Even at its current prices, gas is cheaper, safer, cleaner, greener and always available. Come see it in use before buying @ 20 Adeniran Ogunsanya Surulere Lagos or any of our branches. Free nationwide delivery or Installation available. Distributors and Installers wanted nationwide. Next edition of our Hybrid Carburetors Installation training comes up 10am this Saturday @ 20 Adeniran Ogunsanya Surulere Lagos. The need to train and accredited installed becomes necessary, as more and more Nigerians embrace the wonderful innovation. Installers currently earn N5,000 per installation and are in high demands across Nigeria Once installed Potech Carburetors allow your generator to run on cooking gas as well as petrol, depending on what's available to you. Gas is 3

Nnamdi Kanu: Threading the path of extremist radicalism

By Agaju Madugba Violence and street demonstrations in parts of the south-east of the country have continued to trail the arrest of Nnamdi Kanu by operatives of the DSS in a Lagos hotel, on October 14. Kanu is leader of the Indigenous People of Biafra (IPOB), a separatist movement canvassing the creation of an independent state of Biafra from the Federal Republic of Nigeria. He is also the Director of the United Kingdom-based Radio Biafra. Director of Radio Biafra, Nnamdi Kanu, sandwiched between security operaives, leaving the court yesterday in Abuja. Director of Radio Biafra, Nnamdi Kanu, sandwiched between security operaives, leaving the court yesterday in Abuja. Kanu's arrest and consequent prosecution may not be unconnected with what the Federal Government considers sensational and provocative comments, bordering on treasonable felony, broadcast over Radio Biafra. Currently standing trial along with some other persons at a Federal High Court, Kanu ha

Osinbajo, Gowon Preach Humility in Leadership for National Cohesion.

Vice-President Yemi Osinbajo (SAN) and former military Head of State, Gen. Yakubu Gowon (rtd), as well as some serving governors have appealed to Nigerian leaders to always exhibit decorum and humility while presiding over the affairs of the people for national unity and cohesion. The prominent Nigerians said humility in governance elicits stability and removes friction between the leaders and the led for economic prosperity. They spoke in Ikere Ekiti on Friday, during the dedication and consecration of Saint Peters’ Anglican Church ultra modern auditorium donated to the Anglican Communion by a legal icon, Chief Wole Olanipekun (SAN). Speaking during the church service marking the dedication, Vice-President Osinbajo commended Olanipekun for dedicating his life to God through the donation. The number two man said: “David was the most favoured in the history of mankind despite not being a saint of any kind. “If you read your Bible, God described David as a man after his heart. Even w

Fully Reported

Search This Blog