Government Limiting Exchange Of The Naira - Business - Nairaland
Nairaland Forum / Nairaland / General / Business / Government Limiting Exchange Of The Naira (1179 Views)
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| Government Limiting Exchange Of The Naira by Hunter(m): 5:57am On Jun 29, 2006 |
This has always got me curious, why does the Nigerian government restrict purchase of their currency so that you can't buy it oversea's? Is it for fraud reasons? or is there a economical decision behind it? |
| Re: Government Limiting Exchange Of The Naira by edatika(m): 9:26am On Jun 29, 2006 |
well i seem to be hearing that for the first time, probably it's to curb fraud, and/or to curb, devaluation, maybe, |
| Re: Government Limiting Exchange Of The Naira by Hunter(m): 2:20pm On Jun 29, 2006 |
it makes visiting nigeria alot harder because the first thing you have to do is swap your money to naira :S |
| Re: Government Limiting Exchange Of The Naira by Seun(m): 2:45am On Jun 30, 2006 |
We are still recovering from the mentality of the command economy (military rule). The government still thinks it can control the exchange rate by restricting people's freedom to exchange the currency at any rate they desire. |
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