If I get paid for work and I get dollars transferred to my dom, how is that a bad thing for Nigeria?

Doesn't it reduce pressure on FX as if I want to buy something from abroad, I wouldn't have to stress CBN to find me dollars when I can use what I earned.

If I decide to change some to naira, isn't that also beneficial in the sense that the dollar would be useful to the banks after I change it?

The only issue is how banks sometimes don't change dollar and you have to go to aboki to change it.


So what if I go empty my dom and take it to another country, how does that help Nigeria?


Some APC supporter on that CBN thread was already threatening Nigerians with doms, saying they would forcefully convert it and there is nothing we can do, that if we complain, we will be shot, wow!

That is fucking scary!

Dont mind them. Apc supporters give their brains for membership card

Nobody is saying you should not earn in dollars. It is even healthy for the economy but convert the excess into Naira and spend or save. Our currency is the Naira. No dorm account should have more than $1000 sitting in it at any point in time. The state governments are the ones driving this dollar craze everytime they receive FAAC allocations.

azpekuliar:
Nobody is saying you should not earn in dollars. It is even healthy for the economy but convert the excess into Naira and spend or save. Our currency is the Naira. No dorm account should have more than $1000 sitting in it at any point in time. The state governments are the ones driving this dollar craze everytime they receive FAAC allocations.

So have you asked why he is saving in dollars?
Why is he so scared that he doesn't want to convert to naira and spend.?

Let's address the elephant in the room

azpekuliar:
Nobody is saying you should not earn in dollars. It is even healthy for the economy but convert the excess into Naira and spend or save. Our currency is the Naira. No dorm account should have more than $1000 sitting in it at any point in time. The state governments are the ones driving this dollar craze everytime they receive FAAC allocations.

Leaving it at $1k is not so cool.
You want to kill businesses.
Those who earn in dollar should be free to keep the dollar, while those who got dollar from banks should not stock it beyond $5k, they're the major proplem

Nlfpmod Mynd44 this is front page worthy

azpekuliar:
Nobody is saying you should not earn in dollars. It is even healthy for the economy but convert the excess into Naira and spend or save. Our currency is the Naira. No dorm account should have more than $1000 sitting in it at any point in time. The state governments are the ones driving this dollar craze everytime they receive FAAC allocations.

Make sure you tell Tinubu to convert all the USD he keeps for buying votes in 2027.

Dregs of society come online to talk nonsense, not knowing that the political class is the problem of the country.

malcom1X:

So have you asked why he is saving in dollars?
Why is he so scared that he doesn't want to convert to naira and spend.?

Let's address the elephant in the room

If you want to save in dollars, get a visa, go to the US, open a US account and then be saving it there.

That way, you can repatriate your funds to Nigeria through official channels whenever you want to change it.

tollyboy5:

Leaving it at $1k is not so cool.
You want to kill businesses.
Those who earn in dollar should be free to keep the dollar, while those who got dollar from banks should not stock it beyond $5k, they're the major proplem

Keep the dollar where?
In Naija or in US accounts?
Cos you can open US accounts from here.
Let them open US accounts to keep it. If it wants to enter, it must be converted to Naira.

The alternative is for dorm accounts to have a cap. Enough to spend, not enough to stash.

VaselineCrew:

Some APC supporter on that CBN thread was already threatening Nigerians with doms, saying they would forcefully convert it and there is nothing we can do, that if we complain, we will be shot, wow!

That is fucking scary!

Here's what an Obidient Ipob supporter said

kettykin:
We were already waiting for them , brainless people, come and touch my Dom account and see problem.

I repeat, if they convert all the dollars in dorm accounts to Naira, nothing that you will do. Nothing.
I repeat, if you go to the bank and behave like an animal, the Mopol and security officers will shoot you and nothing will happen.

Naira is our legal tender here in Nigeria. So, if they outlaw operation of dorm accounts, your dollars will be converted into Naira and paid into your Naira account.

Travel out and stop making foolish noise. In how many countries are you allowed to freely convert their local currency for USD without neck-breaking KYC and all?

Coldspice:


Here's what an Obidient Ipob supporter said


I repeat, if they convert all the dollars in dorm accounts to Naira, nothing that you will do. Nothing.
I repeat, if you go to the bank and behave like an animal, the Mopol and security officers will shoot you and nothing will happen.

Naira is our legal tender here in Nigeria. So, if they outlaw operation of dorm accounts, your dollars will be converted into Naira and paid into your Naira account.

Travel out and stop making foolish noise. In how many countries are you allowed to freely convert their local currency for USD without neck-breaking KYC and all?

Why this back and forth, go ahead and convert it let's see what follows.

kettykin:

Why this back and forth, go ahead and convert it let's see what follows.

Why you change mouth? Nonsense.

Wait till end of Q2 and see if you'll still have a dorm account.

The truth is that most people earning in dollars are not spending those dollars.
They are keeping it waiting for when dollar will reach 3k.
It's only because baba Blu put the cart not just before the horse,but before the donkey that he doesn't know what to do.
Naira will reach 2k before the year runs out.
The only saving grace I see is if something terrible happens to Tinubu,he resigns or the hardship forces put to demand a change of leadership.
Though I am as affected as every honest, hardworking Nigerian,but I have come to accept the fact that the man has come to destroy and cause misery either because the God's want to teach us a lesson or we are cursed as a country with bad leadership.

Coldspice:


Why you change mouth? Nonsense.

Wait till end of Q2 and see if you'll still have a dorm account.

Let's wait and see then

SoNature:


Make sure you tell Tinubu to convert all the USD he keeps for buying votes in 2027.

Dregs of society come online to talk nonsense, not knowing that the political class is the problem of the country.

[color=#006600][/color]

Nairaland has really exposed the primitive mentally of a lot of people. Though, most of those defending government and the political class online are mostly paid to do so.
No normal human being will be comfortable with the situation in the country.

VaselineCrew:
If I get paid for work and I get dollars transferred to my dom, how is that a bad thing for Nigeria?

Doesn't it reduce pressure on FX as if I want to buy something from abroad, I wouldn't have to stress CBN to find me dollars when I can use what I earned.

If I decide to change some to naira, isn't that also beneficial in the sense that the dollar would be useful to the banks after I change it?

The only issue is how banks sometimes don't change dollar and you have to go to aboki to change it.


So what if I go empty my dom and take it to another country, how does that help Nigeria?


Some APC supporter on that CBN thread was already threatening Nigerians with doms, saying they would forcefully convert it and there is nothing we can do, that if we complain, we will be shot, wow!

That is fucking scary!

Are u talking based on the fàke news or based on another thing?

Fake news already debunked by CBN

Coldspice:


Why you change mouth? Nonsense.

Wait till end of Q2 and see if you'll still have a dorm account.

You incompetent lot rigged yourselves in to power and have totally fcked up the value of the naira barely 8 months into the stolen mandate! In a desperate bid for a way out of the hole you dug yourselves into, you’re now casting your covetous eyes in the direction of the domiciliary accounts of innocent and hardworking Nigerians who never wanted you in the first place!

If you’re looking for dollars to help shore up the value of your naira, you couldn’t do worse than holding a gun to Tinubus’ head and demanding he hands over all the criminally acquired billions of dollars he has squirrelled away in foreign accounts! Start from there!

PROUDIGBO:

You incompetent lot rigged yourselves in to power and have totally fcked up the value of the naira barely 8 months into the stolen mandate! In a desperate bid for a way out of the hole you dug yourselves into, you’re now casting your covetous eyes in the direction of the domiciliary accounts of innocent and hardworking Nigerians who never wanted you in the first place!

If you’re looking for dollars to help shore up the value of your naira, you couldn’t do worse than holding a gun to Tinubus’ head and demanding he hands over all the criminally acquired billions of dollars he has squirrelled away in foreign accounts! Start from there!

Shinasa, if the government wants to implement the policy, you are nonentities and there's nothing you can do about it. You see the proceeds of the armed robbery and kidnapping which you have converted to dollars, they will convert it to the Naira value and send it into your Naira account.
To spend am sef do dey scare you.

There is nothing you, your ancestors and generations yet unborn can do about it.

If Nigeria tries it then the economy will never recover. Which foreign investor will agree to come into such economy? Let them implement it and see how Nigeria becomes the worst place to do business. Some people that have never used dollars in their lives are even supporting the move.

Shebi it was once implemented by Sanusi??

PROUDIGBO:


You incompetent lot rigged yourselves in to power and have totally fcked up the value of the naira barely 8 months into the stolen mandate! In a desperate bid for a way out of the hole you dug yourselves into, you’re now casting your covetous eyes in the direction of the domiciliary accounts of innocent and hardworking Nigerians who never wanted you in the first place!

If you’re looking for dollars to help shore up the value of your naira, you couldn’t do worse than holding a gun to Tinubus’ head and demanding he hands over all the criminally acquired billions of dollars he has squirrelled away in foreign accounts! Start from there!

What happened to patriotism? If Obi was the president will you be thinking and talking like this?