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Money transfer to Nigeria? Check this: First, you can no longer do it online because you have to pay cash (only on Nigerian transfers). You cannot send direct to bank account. Only cash pick up allowed. Your cash pick up will not be local currency, only US Dollars @cenbank
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Then you show your ID, make the payment and send the cash. Your pick up goes to collect USD in cash in Nigeria. But the Nigerian banks don’t keep lower denominations. They can’t give you one cent more or one cent less. You see, they have to balance the books at end of day.
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So if you send money that amounts to say, $102.45 they don’t carry small bills to give you the remaining $2.45 & without this they can’t give you the cash. Then you say “ok, it’s season of goodwill keep the $2.45 just give me $100”. But that’s not possible without said change.
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Remember they have to balance the books & they don’t carry lower denominations. You ask them ok, what do you suggest? They say “sorry sir, I don’t know what to suggest but without change, which we don’t have, we can’t give you the cash, sorry sir”. After trying 5 banks, no joy
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Then the sender goes back to the sending agent and beg them to cancel the original transaction and send a new transaction rounded to say, $100 with no units. The sender is there for ages waiting for Western Union to pick up the phone, this is of course their busiest period.
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They eventually help & send a new transaction but by the time its done the Nigerian banks have shut, they shut at 4pm on Fridays. You hope none of your beneficiaries need hospital treatment during the weekend & that any necessary items they need can wait till Monday.
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All because someone in @cenbank thinks it’s a good idea to implement a new policy during the busiest period impacted by the new policy. All because the politicians & policy makers are good, their families have no needs, have enough money not to rely on remittance from abroad.
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Sometimes you feel that those in power are deliberate, callous, wicked, and have some sort of evil & twisted sense of satisfaction in inflicting as much misery, suffering on those they are supposed to serve. Money transfer that usually takes minutes now takes <insert duration>
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Some might think this is not an issue but imagine that grand mother or older uncle in rural towns that rely on the little financial support they get from diaspora for their hospital visits, to buy drugs or feed themselves going through this.
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What if a hospital is waiting for that money before they start an urgent medical intervention? The Nigerian government is the worst kind you would not wish on your worst enemy. Nigeria is a different planet! What you see in that country you will never see anywhere else!
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There is never a forethought from the people in power when implementing new policies. No impact assessment, no consideration. Just load, cock and fire. It hits who it hits, if you die you die, as long as their families are ok, you are fair game.
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I wonder how folks like @ChifeDr @asemota @RBiakpara are you getting on? Please help me make sense of this! 
End of rant/
End of rant/
For those suggesting all sorts of wiz bang ways to send money, you will probably not face this issue because of your exposure & tech knowledge but you are in the minority. Majority of recipients of diaspora money have no clue of your wiz bang methods of receiving money.
I welcome a healthy debate on these issues & some of your good suggestions on what to do for next time, but if you are here to cast aspersions or question what I went through in the last 24 hrs please don’t. If you have different experience please just say so & move on.
If you are asking why I tagged some handles all you have to do is check TLs, you will see that this topic had been discussed by those tagged recently. I have nothing to sell, no promos, I was frustrated. I have been transferring money with ease for years till yesterday.
I have no ulterior motive or agenda I just want Nigeria to work. Most policies put out by the Nigerian government are good but the implementation without consideration for the masses is what let’s it down. When good policies are implemented right people will not complain.
For those asking how this ended up. I had to go back to the agent and cancel the original transaction, Western Union eventually agreed to allow the agent to create a new transaction with the same funds, that was much appreciated (normally takes 7-10 days to get your money back).
We put the new transaction through making sure it was rounded to the lowest denomination available to the banks in Nigeria, with no units. By the time all this was done the banks had shut so we go again on Monday. BTW, I paid extra for same day transfer, normally takes minutes.
Update: Some people have called my views on this issue one sided so in the interest of fairness and balance I will say that the @cenbank have taken strides in keeping up with digital and technology innovation in the financial sector.
These approaches have made financial transactions easier. You can usually make transactions and get notifications on smart phones without going to the branch to check your balance. The introduction of BVN alignment was a good move as other improvements in security.
There are a number of good policies that have been implemented by @cenbank but there are also room for improvement. There are niggling issues still to be ironed out. These issues are often dismissed by those they do not affect.
That you don’t experience the challenges doesn’t mean the challenges do not exist. All in all we need the leaders to think about the people they serve and show some understanding of these challenges. Nigeria has to work for the common man and not just the politicians.
