Senator Ben Murray Bruce has reacted to the Central Bank of Nigeria's decision to ban Nigerians from using their debit and credit cards abroad. Reports about the planned ban came to light few days ago when BBC quoted a source as saying that the CBN will from January 1st 2016 stop foreign purchase via the use of credit or debit card. The decision is reportedly part of the government's effort to try to stem the flow of foreign exchange out of the country.
The CBN has also reportedly written to various commercial banks about this decision while some banks have also notified their customers, saying it is a temporary measure. Sen. Ben Murray-Bruce however thinks this decision is not a wise one. His reaction after the cut...
286 comments:
«Oldest ‹Older 201 – 286 of 286It's silly the kind of laws made in Nigeria.
Ur common sense isn't common Ben Murray-Bruce
OGA Senator BEN MURRAY BRUCE U R TOO MUCH.I honestly have no doubts in my mind you are truly VOTED in to the senate to truly serve,THUMBS UP TO YOUR submission on the proposed ban of ATM Cards.i mean its just a stupid policy the CBN KEEPS popping to Nigerians face over and over the last time they shut down domicilliary account,now in concrete terms how many politicians has it affected if not the ordianary nigerians doing their legitimate bizs.cant the apparatus of office like the EFCC,ICPC in conjunction with all other stake holders identify suspicious accounts and investigate such activities before bringing a draconian policy that keeps plummeting the nigerian economy.THIS IS Such a DUMB POLICY.If the CBN Governor can not help the economy to bounce back he can as well resign from office
Well said sir
love the way this man addresses issues...I swear down
I love this man!! Thanks a lot.
Truth
But what if the ordinary nigerians are used to work as the process by the politicians?.. If its temporary its fine. I do business too hopefully it won't be long. Let's all endure if we want the change to work
Another wrong move from a clueless government. This is their definition of change. I saw this rubbish coming prior to the elections and I recall warning those around Merry morning to be fooled. What a shame.
And #commonsense# you are making darl! I love u a millions times over sir. Well said!
Na everything this man dey chuk mouth put self?
*a word is enough for the wise*
My brother, 'senator' from another mother, may God Bless you. You indeed deserve to be the president of this country for speaking the mind of the people. Remain Blessed
What is this dumbass CBN governor up to? Does he want to frustrate the average nigerian is hussling for himself rather than wait for goveenment. Is he thinking at all?
This is the real reason why you were elected Bruce. Please tell them. it's a pity common sense is now scarcer than pounds in Nigeria.
Best senator is saying the truth.
#Ben Bruce for President.
Na u sabi sha..
I am becoming a fan of this man. Common sense in this!
Well said. I love this man for this seriously
Sense!
I admire your love for social media and I love your courage.
Their biz
Common sense you just made Mr Bruce. Kudos
what a good question.
God bless u Senator Ben...Linda much love/Linda take care
Correct talk....
GOD wil bless this man for this statement, was dis d change we voted for?smh. They knew d right tin but dey wount do it ....
The only senator that makes common sense look uncommon. APC government is using backyard politics for Nigerians'. Just like the devil, they give with left hand and collect right hand. #Issori
He is right on this one
Kendi
I agree with him..
This man get time sha. He always has an opinion over everything.
Wild flowers!
I concur!
Three gbosas for that senator. Sometimes, I feel like begging Benin Republic for citizenship.
Na wah for my country. ...
Senator Ben Murray Bruce commonsense initiative is a welcome development. I urge the appropriate quate to do the needful ASAP on the ATM suspension on non-naira denominated countries.
There's sense in what he's saying. They leave out the main culprits and instead the poor masses suffer
Thank you Ben Bruce, I could kiss you right now.
I will March in protest if that ban is placed, I don't care if it's temporary or not, do not treat us like thieves cos our parents did not loot from the treasury.
<< LIB Addict >>
Smart man speaking... #CommonSense
this is crazy!!I support senator on this. so how will innocent student access funds when studying abroad? If you have lived abroad you would understand the importance of atm cards. This is not funny and not the change we voted for. You cannot ban without providing an alternative.
Heyyyyyyyyy!!! dis man is so making sence.... buhari is a confused goat he lacks direction.... cherryice
You Too correct my countryman senator wey dey make common sense.
The common sense man. Asap
Thank you abeg Sen Bruce.
Don't ever play yourself.
Good one.
oga Ben u dey always talk sense
At this moment I think they want war in every area against the so called leaders or politicians, they shouldn't push us the citizens against the wall where it will be too late to control. it’s a warning to them, what insolence
At this moment I think they want war in every area against the so called leaders or politicians, they shouldn't push us the citizens against the wall where it will be too late to control. it’s a warning to them, what insolence
U hav a pooint sir
This Man always makes so much sense in his "Talk" #PunishPolitiansnotNigerians#
Linda Post my comment *Arghhhhhhhhhhhhh*
On point 👌 👍 #linda's smile 😋
Oga Ben, tell dem ooo.
True talk oga ben.
I think CBN is running mad dis time ................. Wht kind of nonsense policy is that ? Ban PEP,rich pple like Linda Ikeji not common Nigeria like me , it's my money and I can spend it any where I want ...
He sure spoke the truth. ...eseokodugha75@yahoo.com
Thank you sir for your candid observation.
This common sense too make sense
Gbam, he nailed it.... The common sense senator.
Lib baddoo
Sir you need a special blessing for this. God bless you so much. How do we pay for hosting and social media ads?
Ben Bruce for President 2019
This one is unacceptable it is my money I can spend it anywhere. I believe this is just a childs play
Wait until buhari introduces sharia law in nigeria..since nigerians av bcum so gullible..we av a dictator not a democratic president..he might b uprite buh he is dumb..
He is being foolish i'd say.His govt.puts up a policy,a govt he is part of, he comes on social media to deride those policies cos of politics. I say Ben Bruce is a hypocrite.
Its really embarrassing what we suffer abroad. Cbn and co, after all the mandatory bvn, u still can't acct for money launderers' in ur country. U talk less of d depreciating naira value and place more emphasis on irrelevant things. We should all be reasonable for once and stop causing unwarranted hardship for poor ppl cause they are always at the receiving end. D politicians don't bank their hard currencies and u all know how it goes. Stop acting like ur blinded plssss
Thanks Senator ben bruce. You have summarised it all. Why punish the masses? Is that why APC was voted in? Was this part of the agenda written in your manifesto Mr Buhari. Why deceive us with your promises of change? Countries without any natural resources still make their economy work. Why must Nigeria be different. I can belive the excuse for this punishment is drop in oil price? From fuel scarcity now they've extended their hands to Nigerian living in diaspora. Wetin we do them? I can't have access to my own money I worked for. My school fees is still in my Nigerian account for over 3 weeks because of'fluctuating exchange rate' and the nonsense form A1 thing they brought is not even helping matters? I was still thinking about that and I got this news about ATM cards. With majority of our new government been clueless, wicked, heartless and backward, I can also ask God to help us all through this ordeal because e no easy. #prayforNigeria
This thing will affect me, especially if it will restrict online transactions, including buying goods and paying for my Association dues online. Someone just asked me a question that got me wondering as it concerns using our ATM cards in ATMs abroad: Is the reverse the case? Can we use their ATM cards on any kind of ATM here in Nigeria?, eg, can we use ATM cards of Barclay's bank anywhere in Nigeria? Why sef?
This our politicians sef.... Dunno who is even giving them all this yeye ideas
Also Check Vabadon's Blog
He is only agile on social media cos that's where he can find gullible pple to convince...now he said only ban politician.. Good so wat if politician steals money.. Launder it through a third party who is not a politician or do u think a politician will steal and put the money in his own account... Two Nigerians hv been caught recently with over 50 at cards in their possession... Are they politicians.. And who says other means of transaction are not available for students and businessmen abroad.. We are faced with a situation where laundered money are been withdrawn everyday with at cards where u hv individuals been caught with over 200atm cards... Pls spare the govt the unnecessary criticism peeps.. Linda if u like publish am..
Sharrap there!
Shut up! Do you know how many shops depend on this kind of transactions, personal shoppers, how do children going to the Uk Or the US pay their fees?
Obviously you're an APC politician!
I wonder
-D great anonymous now as Vivian Reginalds
Ben Bruce is right...
As in I agree Mr Ben 110%
this CBN governor seems to have lost all his good reasonings. he does not have any single good policy...was that the way he was running ZENITH BANK? As a concern citizen, I MOVE FOR HIS IMPEACHMENT. There was a country
This is a great write up. How do they expect Web designers like me pay for hosting and other Web services. @ben Murray Bruce follow ur people talk
On point! It is only the poor masses that are suffering this law. The innocent Nigerian students whose parent can only send their upkeep money into their Nigerian accounts are now starving and almost begging. Nigeria government should find away around this situation urgently.
They are crazy!
Anonymous enough with this post abeg...600 million koh...How much did they see as state budget in the first place...mtcheeeeewww
While Ben Bruce is behaving in a sanctimonious manner as if he's the good politicians while you all lap up his stinking hypocrisy,here's the real story "Indications have emerged on why banks stopped the usage of naira debit and credit cards outside the country. According to industry sources, the decision was reached because banks could no longer provide foreign exchange to settle the foreign transactions.
A banking industry source told LEADERSHIP that in the past three months, over $300 million was spent paying for transactions that were done abroad using naira cards. This is aside the business travel allowance, personal travel allowance and payments for ‘eligible for foreign exchange’ products and services.
Some banks had last week informed their customers that with effect from Friday, January 1, 2016, they would no longer be able to access funds from their accounts using naira debit or credit cards outside the country.
This had spiked reactions on social media as Nigerians, especially those living and schooling abroad condemned the move. However, the banking industry source explained that “For the last two to three months we spent over $200 million to $300 million dollars paying for naira cards.
“People carry 10 cards, travel and withdraw cash and they use these dollars to buy gold, air freshener, candle and other things in five to 10 suit cases, what they forget is that the money they spend is our reserves.
“The result is that we are unable to pay the owners of the card, MasterCard and Visacard because there is not enough foreign exchange to allot to them and if you don’t pay them you have a country risk and credibility issues for the country” the source elaborated.
The unofficial value of the Nigerian currency, the naira, has plunged because of the fall in the oil price which is its main export, as the country has so far spent billions of dollars propping up the currency since it fixed the exchange rate in February and tightened trading rules to curb speculation.
U r a fool what do u know, do u no aw much it is affecting people
I hope he is as good as he potrays
who is this talking about iodine and injection. what dobyou know about economy. there are one million and one ways to curl this issues and not banning the use of ATM. this ia acase of a diabetic patient who needs a prostrate cancer surgery. knowing fully well that diabetic patients needs not have a deep cut .so there are other good measures to cure the cancer. there are also other good measures other than banning ATM card use abroad.
He needs the support of the masses to get the upper chambers to listen to him, so the best way is to get your response via social media, then relay it to his colleagues XxxbarbieXxx
Ignorance is a disease. This goes to you & Ben Bruce.
Ignorance is a disease. This goes to you and your Ben Bruce.He's a hypocrite. This is why the cards were banned.
Indications have emerged on why banks stopped the usage of naira debit and credit cards outside the country. According to industry sources, the decision was reached because banks could no longer provide foreign exchange to settle the foreign transactions.
A banking industry source told LEADERSHIP that in the past three months, over $300 million was spent paying for transactions that were done abroad using naira cards. This is aside the business travel allowance, personal travel allowance and payments for ‘eligible for foreign exchange’ products and services.
Some banks had last week informed their customers that with effect from Friday, January 1, 2016, they would no longer be able to access funds from their accounts using naira debit or credit cards outside the country.
This had spiked reactions on social media as Nigerians, especially those living and schooling abroad condemned the move. However, the banking industry source explained that “For the last two to three months we spent over $200 million to $300 million dollars paying for naira cards.
“People carry 10 cards, travel and withdraw cash and they use these dollars to buy gold, air freshener, candle and other things in five to 10 suit cases, what they forget is that the money they spend is our reserves.
“The result is that we are unable to pay the owners of the card, MasterCard and Visacard because there is not enough foreign exchange to allot to them and if you don’t pay them you have a country risk and credibility issues for the country” the source elaborated.
The unofficial value of the Nigerian currency, the naira, has plunged because of the fall in the oil price which is its main export, as the country has so far spent billions of dollars propping up the currency since it fixed the exchange rate in February and tightened trading rules to curb speculation.
Nope! Just crude.
this makes seriuos sense...dz guys shld rethink
MISSVEE
At this point, I think Ben Murray Bruce should be enlightened, he seems not to understand why such restriction should be praised!
1. for every dollar you are spending in foreign countries, you must remit in dollars. Have you ever seen any merchant abroad collecting naira from you whenever you are making payment?
You are spending the naira in your account abroad, and your bank will remit the payment in dollars. We are not selling anything other than crude that has crashed in the international markets, we do not have enough fx to meet the demands of the teeming Nigerians, whenever the dollar rises, we blame government, and day in day out, we put pressure on our Naira?
2. Imagine Ben Bruce that sent all his children abroad to study. Let's ask him, if he has ever used Naira to pay for their school fees abroad? Let us equally ask him how many dollars he has brought to the country, instead, they keep inviting foreign artist and we pay these artist in dollars. He is one of the Nigerians putting pressure on our Naira.
3. Let us review the billions of dollars Nigerians are using to pay school fees annually in these foreign countries, you will all be amazed.
4. Ben Bruce should seek advise before just posting anything (relevant or irrelevant) on social media.
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