Nigeria’s Stanbic bank has moved to totally cripple its small business clients and entrepreneurs.
In a sudden announcement on December 1st 2016 as pasted below, a text message from the bank banned its clients from using their own money.
From 1/12/16, FX transfers from cash funded dom accounts is limited to $10,000 monthly. FX cash deposits are still accepted in line with CBN rules. 012709676
Nigerians can no longer buy cars from America or any machines for their businesses with the ban on the use of their own money.
While the Nigerian cabal are given billions in subsidized dollars as Reuters reported below, and former CBN governor Sanusi Lamido Sanusi lamented, everyday Nigerians suffer, purchasing dollars at parallel market inflated rates to maintain business but are now banned on top of the extra costs for staying afloat.
Small businesses and clients are unable to get CBN subsidized dollars which is reserved for the Cabal like Dangote and others.
It is yet to be known if the Stanbic directive came from the crooked Central bank governor who has been caught in daily schemes to enrich the cabal with forex subsidy to the tune of billions of dollars.