erniok:


You didn't read it properly.

What he sai is lets says you have $10k cash, you pay that into your account and get an instrument of $10k. This way, you do not need to worry that inflation will erode the value of the 10k since it's an dollar instrument not naira. Anytime you want your $10k, you will get it back.

I think it's anbrillant order as most people fear is inflation eroding the value of the dollars.

BennyDGreat:
As long as we keep avoiding the real problem....all these temporary solutions....will lead us nowhere.

Set a 5-10 year plan to reduce import....

Set plan to create infrastructure to support local production and stability within 5-10 years in feasible sectors.

Implement FULLY

Watch how naira will appreciate. Simple.

OloYeOfEgbE:
Igboland will rescue you all ......As neighbouring countries.

You can only wail online but real life,una irrelevance dey smell..

erniok:


You didn't read it properly.

What he sai is lets says you have $10k cash, you pay that into your account and get an instrument of $10k. This way, you do not need to worry that inflation will erode the value of the 10k since it's an dollar instrument not naira. Anytime you want your $10k, you will get it back.

I think it's anbrillant order as most people fear is inflation eroding the value of the dollars.

erniok:


You didn't read it properly.

What he sai is lets says you have $10k cash, you pay that into your account and get an instrument of $10k. This way, you do not need to worry that inflation will erode the value of the 10k since it's an dollar instrument not naira. Anytime you want your $10k, you will get it back.

I think it's anbrillant order as most people fear is inflation eroding the value of the dollars.

lexy2014:


who are the people he is talking to?

Appletek:


First rescue your mothers hiding under the bed every monday.

Iamzik:


And to actually believe this? 😂😂

Blaze14k:


Wait do you genuinely believe in what u just said now. In this present Nigeria? It's only a foolish person that would listen to that. First of all let tinubu take the dollar he has stored in his house to the bank.

NzogbuNzogbu:
a currency that is not your country currency and you have limits to, you think it would be easy to just peg demand irrespective of whether your currency is sinking against it

Is it same govt that don't even have enough forex

OloYeOfEgbE:

You can never understand what it means to die for a cause..

Don't be unfortunate and a slave..its bad

HelloWhatsup:
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has said that President Bola Tinubu has directed the implementation of an executive order that will ensure that all foreign exchange held in private hands across the care paid into the banks.

RepoMan007:
Bound to fail and the reason for that is simple to comprehend.

The private earners have virtual dollar/forex accounts they keep their forex. The private buyers of forex within Nigeria too have similar accounts. At exchange stage, they communicate through channels CBN don't have control over. Channels like Whatsapp, Telegram and co.

This approach is dead on arrival.

OloYeOfEgbE:


You can never understand what it means to die for a cause..

Don't be unfortunate and a slave..its bad

erniok:


He said they are working on it. Let's see how they want to sell it to the public but if it works, it'd be a brilliant idea.

Iamzik:


Baba I no fit drop wad of dollar to collect paper from Nigeria government. I no fit shout biko

erniok:

People who buy t-bills nko. Make we wait first. Person say im mama soup sweet pass na until you taste am first abi no be so?

erniok:


You didn't read it properly.

What he sai is lets says you have $10k cash, you pay that into your account and get an instrument of $10k. This way, you do not need to worry that inflation will erode the value of the 10k since it's an dollar instrument not naira. Anytime you want your $10k, you will get it back.

I think it's anbrillant order as most people fear is inflation eroding the value of the dollars.

BennyDGreat:
As long as we keep avoiding the real problem....all these temporary solutions....will lead us nowhere.

Set a 5-10 year plan to reduce import....

Set plan to create infrastructure to support local production and stability within 5-10 years in feasible sectors.

Implement FULLY

Watch how naira will appreciate. Simple.

erniok:


You didn't read it properly.

What he sai is lets says you have $10k cash, you pay that into your account and get an instrument of $10k. This way, you do not need to worry that inflation will erode the value of the 10k since it's an dollar instrument not naira. Anytime you want your $10k, you will get it back.

I think it's anbrillant order as most people fear is inflation eroding the value of the dollars.

Iamzik:


Tbill is in naira. They can print as much as they want.

Repeat I won't drop dollar to collect piece of paper from Nigeria government. I don't trust the government after how they have managed the economy in the last 8 years

IbeOkehie:


Will government still remain in control of the value of the naira as part of this plan? Will there still be a CBN rate, IFEX rate and parallel market rate? Curious about your thinking.



Nobody is afraid of the dollar losing value. NAIRA is the currency being decimated by inflation. In short, let's say it bluntly - this is an attempt to seize dollars from Nigerians. Anyone that deposits dollars and takes that "instrument" or whatever, is NEVER going to get their dollars back.

This has happened in Argentina, Lebanon, Zimbabwe and Venezuela. It's the USUAL step taken by bankrupt governments to steal from their people. This guy is a former investment banker, right? How can he prescribe something like this? Alarm bells should be ringing, it's a very bad sign of things to come.



And I thought it was just crazy thoughts on my part. Glad to read some sense here.

Cheers.

erniok:


You didn't read it properly.

What he sai is lets says you have $10k cash, you pay that into your account and get an instrument of $10k. This way, you do not need to worry that inflation will erode the value of the 10k since it's an dollar instrument not naira. Anytime you want your $10k, you will get it back.

I think it's anbrillant order as most people fear is inflation eroding the value of the dollars.

erniok:


He said they are working on it. Let's see how they want to sell it to the public but if it works, it'd be a brilliant idea.

erniok:


From the post, people who are hoarding the dollars and citizens outside the shores of the country who are afraid of losing the value of their money due to exchange rate issues.

Blaze14k:


Well goodluck to him and the people that will deposit there dollar. If my dollar wont yield interest while it's in the bank forget it.

I want to ask why is tinubu so focused on the exchange rate, does it mean he is not interested in local production?