ATM Card Ban: Nigerians Appeal To Buhari


29 Dec 2015

ATM Card Ban: Nigerians Appeal To Buhari

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Nigerians living in Malaysia, particularly students have pleaded with Nigeria's president, Muhammadu Buhari and the Central Bank of Nigeria (CBN) not to restriction clients abroad from utilizing their Naira charge and credit card.


N65 ATM charge

CBN in an offer to slow the stream of foreign exchange out of the country requested business banks to prevent clients from utilizing their charge and Mastercards abroad. The restriction on use of ATM card abroad is proposed to produce results from for January 1, 2016.

Students who talked with Daily Trust griped that numerous are as of now thinking that its difficult to pull back cash for their school fees and different costs because of the as of late presented money withdrawal limit forced on clients abroad.

READ ALSO: Open letter: Fani Kayode drags Buhari to the cleaners

The students pleaded that utilization of ATM card ought not be banned. One said: "There are more than 5,000 Nigerians educating in Malaysia. The vast majority of us depend on cash being sent from Nigeria. There is no occupation here. We utilize our ATM card to pay for our costs. Banning it use will bring about a ton of hardship for us and might lead to the end of a few students training. Government ought to help us."

 

Other students proposed that the government ought to devise another method for controlling capital flight and reinforce naira without making the blameless experience the ill effects of the wrongdoings of the few corrupt Nigerians.

Just as of late, until the country's foreign stores develop to significant levels.

Moses Tule, CBN's chief, fiscal arrangement, said confinements were prone to be lifted when stores increment to between $50 billion and $200 billion, including that all hands must be on deck to accomplish the target,

READ ALSO: Exclusive: Why Buhari Budgeted N39 billion for Lai Mohammed

News Source: NAIJ, 9jaTales

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