ANNOUNCEMENT

Worship with us @ Mountain of Fire Miracles Ministries, Budapest, Hungary Address: 1081 Bp II János Pál Pápa tér 2 (formerly Köztársaság tér) Direction: From Blaha, take tram 28, 28A, 37, 37A, 62...1 stop. From the traffic light cross to the other side... Or take Metro 4 & get off @ János Pál Pápa tér
Time of worship: Wednesdays @ 18:30 hr Sundays @ 10:30 hr
Tel: +36 203819155 or +36 202016005

God bless


Tuesday, 19 January 2016

BANKING & FINANCE

Nigeria: Customers can now transfer foreign currency, says Banks

CBN Governor, Godwin Emefiele
Deposit Money Banks in the country are now allowing customers to transfer foreign currency cash deposits made into their domiciliary accounts. The announcement from the banks started coming in four days after the Central Bank of Nigeria lifted the ban on foreign currency deposits.


The CBN had on Monday said holders of ordinary domiciliary accounts were allowed to deposit foreign currencies into their accounts, a move that ended a six-month embargo on the DMBs from receiving cash deposits from the customers.


The Head, Media and External Relations, FirstBank of Nigeria, Mr. Babatunde Lasaki, confirmed to our correspondent on Saturday, "Banks can do transfer now. We sent messages to some of our customers yesterday (Friday)."


The message sent to customers read in part, "Please be informed of the following: Customers can make foreign currency cash deposits into their FirstBank domiciliary accounts without restrictions.


"We have recommended the transfer of US dollar and other currencies for our customers who make such cash lodgements subject to the monthly limit of $10,000. A flat rate of two per cent on the sum to be transferred is to be charged on all the transfers. We implore all branches to re-commence foreign currency transactions for all our customers."


In an emailed statement sent to customers on Saturday, Guaranty Trust Bank, also said, "We are pleased to inform you that you can now transfer foreign currency cash deposits made into your GTBank domiciliary account(s) via internet banking, mobile app or at any of our branches nationwide, subject to a daily cumulative limit of $10,000."


Similarly, Sterling Bank, in an email to customers on Friday night, said, "We are pleased to inform you that effective Monday, January 18, 2016 you will be able to transfer cash deposits from your foreign currency domiciliary accounts, up to a maximum of $10,000 per transaction. Kindly visit any of our branches to submit your request as applicable."


The PUNCH had on Friday reported that bank customers were shying away from making cash deposits into their domiciliary accounts.


A currency strategist at Ecobank Nigeria, Mr. Kunle Ezun, had, three days after the lifting of the ban on cash deposits into domiciliary accounts, said the CBN would need to come back to the banks and provide a clearer view about what the banks would do about the cash deposits in their vaults.


He said, "With what they have done now, it is now a win-win situation. The banks will be happy to do business. Then again it allows the naira to have a sort of cushion. People can now do wire transfer to and from abroad. It will create a free flow of funds in the market.


"People who have dollars can bring it in now and banks can do transfer for them. With this, the market will calm a bit next week and we expect to some appreciation in the naira in the parallel market."



The CBN had in a circular on August 5, 2015 banned the payment of cash into domiciliary accounts in a bid to stop illicit financial flows in the Nigerian banking system.



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Editor's Mail

Love the article on Gaddafi
We must rise above tribalism & divide & rule of the colonialist who stole & looted our treasure & planted their puppets to lord it over us..they alone can decide on whosoever is performing & the one that is corrupt..but the most corrupt nations are the western countries that plunder the resources of other nations & make them poorer & aid the rulers to steal & keep such ill gotten wealth in their country..yemen,syria etc have killed more than gadhafi but its not A̷̷̴ good investment for the west(this is laughable)because oil is not in these countries..when obasanjo annihilated the odi people in rivers state, they looked away because its in their favour & interest..one day! Samosa Iyoha

Hello from
Johannesburg
I was amazed to find a website for Africans in Hungary.
Looks like you have quite a community there. Here in SA we have some three million Zimbabweans living in exile and not much sign of going home ... but in Hungary??? Hope to meet you on one of my trips to Europe; was in Steirmark Austria near the Hungarian border earlier this month. Every good wish for 2011. Geoff in Jo'burg

I'm impressed by
ANH work but...
Interesting interview...
I think from what have been said, the Nigerian embassy here seem to be more concern about its nationals than we are for ourselves. Our complete disregard for the laws of Hungary isn't going to help Nigeria's image or going to promote what the Embassy is trying to showcase. So if the journalists could zoom-in more focus on Nigerians living, working and studying here in Hungary than scrutinizing the embassy and its every move, i think it would be of tremendous help to the embassy serving its nationals better and create more awareness about where we live . Taking the issues of illicit drugs and forged documents as typical examples.. there are so many cases of Nigerians been involved. But i am yet to read of it in e.news. So i think if only you and your journalists could write more about it and follow up on the stories i think it will make our nationals more aware of what to expect. I wouldn't say i am not impressed with your work but you need to be more of a two way street rather than a one way street . Keep up the good work... Sylvia

My comment to the interview with his excellency Mr. Adedotun Adenrele Adepoju CDA a.i--

He is an intelligent man. He spoke well on the issues! Thanks to Mr Hakeem Babalola for the interview it contains some expedient information.. B.Ayo Adams click to read editor's mail
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