chicfarmer:
This move is unwise. People will simply start saving cash in foreign currency leading to more security challenges like robberies and breaking and entry.
The government must employ sound macroeconomic and monetary policies to combat this challenge. A lot of damage was done by the last administration, though.

Nigerians do not export enough to generate foreign exchange, Lazy mindset of people, who lack innovation.

All these carriers of fake news. So if the government converts all dollars to Naira, then what happens if the currency doesn’t stabilize as expected? The best thing is to work on better policies to boost economy and not venture into uncertainties. Na the citizens cause the problem, wey na the citizens wan pay d price. How many common Nigerians were part of the devaluation of the Naira? I don’t think the government will convert people’s dollars into Naira. It’s even a wrong gamble at this time. It’s better they continue working on improving the economy, once this is achieved, they can then work on policies that discourage foreign currency hoarding. I don’t even know why persons can’t use their Naira master card abroad to withdraw foreign currency for use. Even some international transactions are not possible using Nigerian issued cards.

forgiveness:


Dollar payment in Nigeria is illegal. If you want to pay outside the country, use your atm card to withdraw.

You well so? So to pay my brother's school to an American university is illegal?

Stephench:

You well so? So to pay my brother's school to an American university is illegal?

Use your atm to withdraw and pay or make transfer.

forgiveness:


Use your atm to withdraw and pay or make transfer.

You're 100% dumb.

Stephench:

You're 100% dumb.

Dump! You must be a novice. So, you don't know you can use your domiciliary account atm card to pay for services abroad?

You be de olodo.

[color=#006600][/color]I quite agree with this policy if it can be faithfully and diligently implemented! Some Nigerians, including our leaders, are too selfish and greedy.

Artscollection:
The narratives that people are saving their money in dollar it is a very big lie. It is still the politicians that are hoarding the dollar n it seems Nigerians forget in a hungry!! Again,how many dollars was shared during apc primary? The same idiots are now blaming innocent citizens or did i forgot How they where sharing dollars in rivers during election.

Well, a lot of ordinary Nigerians save in dollars

I was at my bank month before last to do some payments to a government agency via Remita. The remita counter was the same counter attending to people depositing and withdrawing dollars. The number of people comming in...not a crowd, but not small either.

At my working place, a few of my colleagues have dom accounts. Including people wey join the place after me self..lol.

MADIFF:
Great move, how can a Nigerian living in Nigeria have his or her savings in dollar?

Even dollar sent from diaspora NIGERIANs refuse to convert and spend it rather wait till the price goes up and they cash out.



Our problem is not the land or the leaders but the orientation of average Nigerian so corrupt and self centered, always money oriented above humanity.

Na today Nigerians start to operate domiciliary account? Why wasn't the naira on a free fall under OBJ, Yar'Adua and GEJ? Was it average Nigerians who were spending dollars at APC and PDP presidential primaries? Banza kawaii.

nairalanda1:


Well, a lot of ordinary Nigerians save in dollars

I was at my bank month before last to do some payments to a government agency via Remita. The remita counter was the same counter attending to people depositing and withdrawing dollars. The number of people comming in...not a crowd, but not small either.

At my working place, a few of my colleagues have dom accounts. Including people wey join the place after me self..lol.

This trend started because of the clueless govt in power, i know How much i have lost in value of my money because of their clueless decisions so people are panicking. Fomo is real!!!

Artscollection:


This trend started because of the clueless govt in power, i know How much i have lost in value of my money because of their clueless decisions so people are panicking. Fomo is real!!!

In fairness, a lot of people had dom accounts long before 2014.

nairalanda1:


In fairness, a lot of people had dom accounts long before 2014.

Most where not savings,i have had that for a very long time, i only fund it for international transactions so they should count innocent citizens out of their madness. Can you recall the amount of dollars that where shared during election. Almost all the politicians transact in dollars currently especially the ones in abuja, iam giving you first hand info,aint capping!!!

forgiveness:


Dump! You must be a novice. So, you don't know you can use your domiciliary account atm card to pay for services abroad?

You be de olodo.

Domiciliary account ATM that you said they shouldn't have?

Fake news

Stephench:


Domiciliary account ATM that you said they shouldn't have?

Exactly, but i am saying they scrape that and allow normal atm to do that.

forgiveness:


Exactly, but i am saying they scrape that and allow normal atm to do that.

And it's already illegal when they've not scrapped it? Why are you blaming citizens for government policies?

Stephench:

And it's already illegal when they've not scrapped it? Why are you blaming citizens for government policies?

Blame citizens? When? Show me.

Stephench:


You are dumb. All citizens want values for their money. There's no country where it's the responsibility of the citizens to fight for their currency. In Nigeria, you're forced to trade against your currency. I didn't have a Dom account until the bank forced me to open one before I can be able to pay school fees for my brother. Then you'll turn around and blame me for opening a Dom account when the government policy literally forced me to?

Why did the naira suddenly start going down when a clueless ineptitude inefficient government came into power if it's not the stupid leaders?

Why do you have to get the dorm to pay school fees? Why are you paying abroad? Why are you not able to use the naira to pay for your brother abroad? It's not the stupid leaders alone, the people who allowed the stupid leaders allow education to rotten, vote for people who do not value education, abuse the naira that we should question. Every Nigerian thinks he can solve his problems without the collective, that's why we have boreholes and no water supply, generators and no public electricity and holding dollars with the hope of solving the currency problem. We are not the only ones who school abroad. Have you heard them cry about the dollar the way we do?

You must be a very stupid fellow for exempting your leaders from the problem of that country.Stockholm syndrome is real!!!You must be a very stupid fellow for exempting your leaders from the problem of that country.Stockholm syndrome is real!!!...

MADIFF:
Great move, how can a Nigerian living in Nigeria have his or her savings in dollar?

Even dollar sent from diaspora NIGERIANs refuse to convert and spend it rather wait till the price goes up and they cash out.



Our problem is not the land or the leaders but the orientation of average Nigerian so corrupt and self centered, always money oriented above humanity.

Is dollar our currency? What concerns anyone with my dollars assuming I have any? Eg, I go abroad, earn some dollars, then fly into nigeria, what right does anyone have to make me change the money? Afterall, I did not earn it in naija, neither did I get it from cbn.
If I decide to eat it, burn, use as tissue paper, change it, dash it out etc, it is no bodies business.

blacknp:
Nigerians do not export enough to generate foreign exchange, Lazy mindset of people, who lack innovation.

You must be a fool. APC fools like you thinks Nigerians started using dollars in 2015 when you lots crashed the value of the naira.. was Nigeria producing anything prior 2015 when the exchange value was a bit stable??