As a government, you do not need forex at all, infact you should not touch it with a long pole. You should concentrate on the legal tender you issued. There is no reason why any government should have anything to do with foreign currency. This is moreso because it was the government that enacted the legal tender law.
So they have no moral justification to break it. That amounts to shifting the goal post.

What government should be involved in is the coordination of economic activities such that the nation they are presiding over achieves a high Human Development Index, HDI. Enough food, enough clothes, enough skills and etc, then you issue a currency so that a farmer does not have to buy clothes or a car with yams or maize. The money, the currency is merely a medium of exchange. It is not something magical or mystical. If the volume of that money in circulation remains constant and the country's population and consumption remains constant, then the value of that currency will remain constant. The main way the value of the currency can drop is if the volume in circulation is increased or if the population of the country is reduced substantially by an epidemic. Other causal factors are tangential. So the currency of a country can not just lose value, the value can only be reduced by inflating the currency which is by printing more of it. If the government withdraws a huge volume of currency from circulation, the value of that currency will rise immediately.


So if your country is depending on dollars or forex for income, they are going to devalue your currency if that dollar income drops from 50 billion dollars to 15 billion dollars per annum. You should be able to see that. They do that by printing more money and passing it into circulation. It is an evil way of taxation. Taxation through the back door. A wrongful taxation which is how Nigeria is run. All nations inflate their currency but if that currency is what government income is denominated in, then inflation will never be a two digit affair. It will be humane.


Then, as a nation you should be encouraging immigration. See London. Yorubas, Igbos, Indians, Chinese and etc are all there working and the government imposes a minimum tax of 35 percent on them, they all pay or go to prison. The money is then taken and used for the benefit of British citizens who are mainly indigenous people. This is why a good and well run country like Britain will never deport foreigners wholesale as did the then General Buhari government in Nigeria to Ghanaians in the 1980s. That is a sign of a clueless government, deporting economic actors. Again, Britain is able to pay social security money to millions because they impose tax on all workers including non indigenes who tend to work harder and without complaints or a sense of entitlement. That is the template for nation building. Not the Buhari style. That is the template the whole world should adopt.


So in Nigeria, more money has been printed is why the value of the Naira has fallen. The Naira money was printed because the government's dollar income has crashed. So 15 billion dollars must be able to do the work of 50 billion dollars. Do not accept the argument of the Nigerian government that they have no hand in it.


The solution, I believe, is to delineate the whole world into properly alligned ehnic nations speaking thesame language with thesame world view and culture. That should be done for security purposes. Then restrict governments across the globe to income from taxation of their economy only, not natural resources. This can be easily achieved via a United Nations treaty if everybody agrees.

Ok......well articulated if u ask me