NewStats: 3,263,871 , 8,181,690 topics. Date: Sunday, 08 June 2025 at 12:51 PM 2y402l

$200 PayPal available.

WhatsApp on my profile.

goldtooth:


Dear Valued Customer,

Thank you for your continued business.

On of current market conditions, please note that with effect from 18 October, 2016, you will not be able to use your Naira debit and credit cards for international transactions.
If you wish to carry out card transactions priced in foreign currencies from that date, you can request for a USD card (debit or prepaid) from any of our branches.
We apologize for any inconvenience that may be caused by this decision.We trust that our USD card product will allow you to continue to pay for goods and services that are priced in foreign currencies.
To ensure unhindered access to your USD debit or prepaid card while abroad, kindly notify us of your impending trip(s), preferably before you leave Nigeria.
Please feel free to us by email: [email protected] or call our 24 hour centre on any of the following numbers 0700CALLSTANBIC, (0700-2255-7826-242), 01-2709676 & 01-4222222

Best regards,
Stanbic IBTC Bank


This is the mail i got from stanbic and the bolded to me means even web transactions are included, as it is priced in foreign currency but i am not c.o.c.k sure till they implement on the 18th

Very confusing indeed. One can't be sure for Stanbic till 19th or next month.

As for gtb, why bother with the N320 rate if they have stopped on 14th as planned.

Time will tell.

goldtooth:


I dont know when gtb is stopping theirs, but stanbic is 18th which is Tuesday, so i intend to make a payment of $100 via paypal today using stanbic card. Make i enjoy the N320 rate from stanbic before it ends

I just read abokifx again.

Seems what these banks are stopping is ATM withdrawals overseas or in dollars.

I don't think they are stopping web transactions because GTB said they will stop theirs on 14th and they announced their N320 rate on the 15th.

onatisi:

You cant blame the banks for not giving out loans. Do u know the amount of bad debts or loans these banks have on their necks? The Nigeria environment is a very difficult terrain to do business in and only business vultures like the Chinese and asians can cope because they too are dubious.
There is no concrete database ,nothing!
Many ppl collect loans with the intention of not paying back,I heard about a man that went to a bank and asked for a loan and he actually took his lawyer friend along basically to find loopholes to not payback. Agriculture remains the nations best bet. Very soon u will start hearing stories from and about travelex too

Wow! We are really our own worst enemies !

goldtooth:


I dont know when gtb is stopping theirs, but stanbic is 18th which is Tuesday, so i intend to make a payment of $100 via paypal today using stanbic card. Make i enjoy the N320 rate from stanbic before it ends

omotisa:


Yes, as reported on the bank's twitter handle @gtbank_help.

Thanks

Is GTB really N320 now?

When are they stopping their own card usage?

onatisi:

Bro,the bitter truth is this fx problem will continue till 2019 and it will get worse by 2018. There is no quick fix to the problem except the nation starts producing. All these cbn policies are just a bloody waste of time. The political leadership has done virtually nothing and I mean absolutely nothing in the last 2 years to give the nation and breakthrough. I really pity the cbn governor because he has to carry all the blame and has to be searching for temporary solutions to the acute deficiency of the political leadership. I said it ,any sensible investor will be buying now and not selling in order to see what plays out next week. The nation is currently been ruled by zombies who are just one way thinkers .

Its a pity really, and the banks are busy committing daylight robbery and refusing to give out loans.

How can we be productive?

Wish CBN can sanction them to the tune of billions same way NCC sanctions telcos.

Such fines can then be pumped into other areas like SURE-P.

omotisa:
It appears the banks reduced their limits and stopped the use of their cards outside of Nigeria in reaction to regulatory directive to ensure that their rates are close to the interbank rate. Today, Stanbic and GTbank are communicating to customers on twitter that their indicative rates for the dollar is 320 naira. The Honeymoon is over for them. I am sure they made so much money while it lasted.

This was what I expected the first time naira was floated months ago.

I was amazed it didn't happen (banks selling at interbank rates) and some people here laughed.

Now that its happened, its a pity it will only last a few days.

That's someone's money & you feel its spamming? That's why I ed **** action on treating the last case behind the curtains though some thought we be 5&6 cox at the end no show happens on Nairaland except people interested in reading stories. **** solve your gbege behind the scene & when you are going use all force to bring the scammer you paid into his cox u don't have a bixnex with the next dude he claimed he paid to

I just heard that Peter Enabulu aka Awaritefe has duped of a Telegram group he s to the tune of N1m.


Hopefully, he has now graduated from NL.

flyuche:


I guess the party is over for the banks. Greedy banks. Imagine the ludicrous profits they have made on card transactions.

I guess you are right if he is :

abhosts:
Not a Fan of Emelefe, but the CBN did what they had to do to save the Naira. Those banks have made billions from Dollar Racketeering.

Banks were getting Western Union Dollar at official Rate and then Resold it to their customers at Black Market Rate contrary to what they were instructed by the CBN. This action starved the BDCs of the much needed liquidity they needed. Nigerian Banks are the chief culprits in all this devaluation mess. Now the CBN has decided to reach out to BDCs via Travelex.

Banks are now Required to Remit all those Dollar Inflows to the CBN so it can be channeled properly to the BDCs via Travelex. That is why they have no dollars to give Card Holders anymore.

Those that are wise should begin to offload their Dollars now. I see the Dollar falling to 320-360 within the next 2 weeks if new policy is well implemented.

opeyemmmy:

The directive was clear on a cap of N5 margin. Interbank rate for sometime now has been between N304.5 - N315; except the rate changes or CBN increases the margin, I don't expect card rate to be above N320.



350-400 at the black market is a long shot. CBN has not done so much to expect such. And for me, I don't think the arrangement with Travelex is sustainable... though I hope I'm wrong on this.

Any idea when the N5 cap directive was issued?

Any links? Thanks.

onatisi:

I never said it will reach 1000,go through my comments again. But the whole system will crash with all these flip-flopping decisions ,every investor wants a clear laid out clean simple regulation. The cbn is desperately looking for a solution and the solution doesn't lie with them but with the political leaders and the masses. The truth is defending the naira with all these measures without increasing local productions is just a postponement of doomsday.

Kk. Sorry about the 1000. Its still a possibility though. Next year maybe.

opeyemmmy:


Yes. But then, that may not be enough, hence why most of the banks are stopping the service altogether. I don't expect any bank to settle card transactions at a loss, knowing that CBN is not doing enough to ease FX scarcity (and rate volatility) in the system.

I'm expecting a spread of 320-350 on cards and 350-400 on the streets as Travelex eases pressure a little.

The current N470+ rate was highly due to speculation anyway.

EnterPRO:


Maybe CBN has directed all banks to sell MC dollars at interbank rates going forward, that's why they are all stopping the service?

I wonder what rate others like gtb and Access are charging.

opeyemmmy:


That's the case.

The directive is for the banks not to charge more than N5 above interbank rate... forgetting that with the persistent acute shortage of FX, there is hardly any bank that will able to settle their card transactions.

And they decided to lower limits to prevent round tripping.

Case solved.

Prophet Onatisi, that N1000/$ prediction go still far small oh.

Mariesio:


See bad belle

Depends.

If they sourced their current dollars higher than N320 they might not want to sell at a loss.

Mariesio:


Hmmm , just tried now with $0.01 and #3.2 was withheld. I no trust that rate oooo. After they sent message that their card can't be used online . You better abandon the acc or else

Maybe CBN has directed all banks to sell MC dollars at interbank rates going forward, that's why they are all stopping the service?

Minibus routes depend on your area, but Marwas are more ubiquitous.

I also hear they make more money sef.

DATABASEGURU:
I've got $500 payoneer funds for sale..anyone?

Interested.

WhatsApp s on my profile.

... From Russia With Love.

dustmalik:

Before you buy it, find out what other bands it s apart from 20 (800).

I'm looking to buy a mifi or router, but it has to be one that band 3, 7, 8, 20, 28 and 40.

That 28 scarce old woman teeth.

Even online sef.

selfmadeOLX:


Price of the router?

Am buying it from my friend at the rate of 5k
He bought it last month, never used it. I just saw it on he's desk yesterday and told him I need it


He even said there's still free 15GB night browsing on it upon purchase

Lucky you.

Phone price?

selfmadeOLX:



Its the MT7-TL10 brov pretty bad


Guess the Smile router will solve my device problem of not ing most 4G bands available in Nigeria then

Prices pls?

Bookiemart01:
I said travelex sold at 365 today I never said black market...

Someone on the other thread said it can't even be bought without BVN card.

Not BVN number o! BVN card.

akinswaggs:
So i got my 4G sim yesterday and tested it on my Xiaomi Note 3 Pro which happens to Band 20(800Mhz) that the Mtn 4G Lte Runs on(including Band 7(2600mhz)) and i can say the speed is awesome...

I've used both Ntel and Spectranet in Abuja and i can say none of them comes near Mtn in Speed..

ed a File of 1gb in abt 3Minutes belive it or Not.... Speed gets up to as high as 10-15mb/s..

Pictures below

Pls can anyone confirm that MTN uses band 20 as well (800MHz) and not just band 7 alone (2600MHz) as written on their site.

Segunagagu:
I am regretting. I went to mtn to swap to 4g sim after paying 900...just to get home and it didn't work. .called customer care and Dey told me my phone must be using band 7 2600mhz....was so annoyed. ..my phone is samsung galaxy note 4 VERIZON

eraly:




for etisalat

Page 1 rather :

deor03:


While i agree with you 100% on the 1800 and 900 being GSM bands, what i am essentially saying is that LTE can be deployed on ANY band.

Ntel is using it's 1800 and 900 for LTE, while GLO,MTN ,Etisalat, Airtel are using theirs for 2G/3G; ( Etisalat that is presently refarming 5Mhz out of their 15Mhz on their 1800 Spectrum to deploy LTE ; trial will commence in Lagos soon)

Lol, so Corsy still dey learn work?

eraly:



Etisalat does not av 4G LTE network right nw. though som Ppl are saying very soon they'll announce theirs. dat they are doing it 'codedly'

Okay, thanks.

Saw band 3 (1800MHz) on page 2.

eraly:




ok, let me explain.


Dat a phone is 4G enabled does not mean its gonna work on all network or with all sims. all these 4G network providers av frequency/bands dia 4G can work on. so the best tin to do is to do a little google search abt d frequency/bands a particular phone s.

Glo 4G is BAND 28 (700MHz)

MTN 4G is BAND 20 (800MHz) and BAND 7 (2600MHz)

NTEL 4G s BAND 8 (900MHz) and BAND 3 (1800MHz)



and so on.

How about Etisalat?

Udiboy:


Ok, just lady F.
Meanwhile, I have sold to over 15 people minimum from this forum this past 2 years.
I don't ask them names. I deal when they send me emails.
I don't even names except ladyf,airemon, magang or so.
Well, I guess I need to start requesting for reviews before I make transactions #EyeOpener

I mata1ng saying he bought from you too.

Udiboy:


Lol,
I have suffered.
Make or Female!you for add hermaphrodite
I can't believe no one verified for you. So it's ghosts that I sell to here. Never knew that.

Also,
I can't even recall striking a deal with you today.

Please help me .
Thank you

LadyF vouched for you.

You can also mention those you've sold to so as to make things easier.

oluwainfin:
Some of us are interested in putting scammers to shame.

We need to be able to build trust on this platform no matter how challenging it might be

Well, one can't cry more than the bereaved.

The impression one gets is that he has been promised a refund if he softpedals.

It won't be wise of him at all to trust that guy (a second time) and even if the guy pays after backyard negotiations, it doesn't paint the other guy in good light. I can only imagine that he will steal again to pay him.

To whom much is given, much more is expected.

I can only advise dollarflow at this point, to pick up where he left.

Shakitibob0:
really? Does that mean I can sell and receive payments through facebook?

Should be possible but I haven't tried it. Yet.