klax: Lamido Sanusi with all my heart I supported you for this I have never for one be your fan but in this one I supported you 100%. Naira is not the worst currency in the world even those countries with a very terrible currency exchange still use their currency as bad as it is but here in Nigeria you will hear some goats(Ewu) condemning Naira Bros what is yours is yours no matter how bad it is.
God bless you Sanusi you have show again you are Aboki with common sense that has respect and value for his own things.

CFCfan:
Yes, they would have to accept being paid in Naira, or they risk running foul of the law.

free_soul:

See ya aboki gworo chewing mouth!
You are rejoicing because the mallams at the airport and hidden corners will get rich overnight selling and printing naira as usual and exchanging foreign currencies
when is that your terrorist brother leaving our CBN sef?

notinmege: Will it be extended to all these road-side mechanics that are called expatriates here in Nigeria?

Okija_juju: Make Sanusi use reverse Park well jor!!










All 'Local Content' Contractors will NEVER accept to be paid in Naira.. SO they compromise with a split of 60% U$D & 40% NGN, 70/30 or 80/20..

And NAPIMS, DPR and NNPC are well aware of this.. Infact, they approve it.

CHESSBOARD:

Brother this is the reason Nigeria contract staff dont get paid very well.... The LCC will prefer to service their staff with the 30% Naira and hide the remaining 70% Dollars...to bad bro!...somebody needs to put things right in Nigeria

texazzpete:

Please don't speak about things you are ignorant of. Their salaries are FULLY taxed, no exceptions.

@Topic this is a laudable move from Sanusi. I've heard there are some highbrow estates in lagos, for example, that collect rent in dollars. Some schools even require some payments in dollars. That's totally wrong.

texazzpete:

Please don't speak about things you are ignorant of. Their salaries are FULLY taxed, no exceptions.

@Topic this is a laudable move from Sanusi. I've heard there are some highbrow estates in lagos, for example, that collect rent in dollars. Some schools even require some payments in dollars. That's totally wrong.

Okija_juju:



Dont go far..


Greenoak International School in GRA Port Harcourt charges a protion of their Tuition in British Pounds..

CBN cant say they are not aware of this because the schools name is clearly spelt on their Account and the bank accepts Pounds payment into this account everyday. And even the bank will not accept the naira equivalent of this amount from you.

Perhaps, what they might do is to index their service in dollar and use the exchange rate and accept Naira.

Peterwins:

This should be the normal practice. However where the parallel (black) market exists and operates openly, the demand for dollars in cash will continue unabated.

Some business and financial empires were built on the back of this anomaly (round tripping). I remembered when Abacha pegged the exchange rate at N22 to 1USD. The financial institutions made a kill out of that policy back then.

The comments of SLS is nothing new. He should remember that:
1. The dollar is the world's currency.
2. Nigeria's major source of income/foreign exchange, oil is bench-marked using dollars.
3. Nigeria's foreign reserve is in dollars
4. Global integration means that the demand for dollars will increase proportionately to our imports i.e balance of trade.
5. The parallel (black) market exists and operates openly.
6. In simple words - Nigeria's economy is tied to the dollars.

Okija_juju:



Dont go far..


Greenoak International School in GRA Port Harcourt charges a protion of their Tuition in British Pounds..

CBN cant say they are not aware of this because the schools name is clearly spelt on their Account and the bank accepts Pounds payment into this account everyday. And even the bank will not accept the naira equivalent of this amount from you.