Better it is to be quiet & be thought a fool than to speak & clear all doubts.

This one no get better thing to contribute for house na to dey yarn nonsense remain

Is this guy okay?

Mangekyo:

Guy Wetin dey worry you eh?
How much dem dey pay you?
This is the closest I've come and you just ruined it. Na God go judge you

Them wan close domiciliary account with people's hard earned money and na FTC dey worry you?

When you have a president who borrows hard currency from all over the world to run his mostly non profitable ventures, and the loans approved by a rubber stamp National Assembly, the value of the Naira must slide down before the other hard currencies.

Dom Akant wey boys de take flex unto say we global??

Very stupid suggestion

It's normal for people to take flight to safety to preserve the value of their savings in a situation where the local currency is loosing value on a daily basis

Anywhere guys carry hustle go, they'll come for it.

They just open their mouth waaaaa without thinking left and right.

This fellow didn't consider the fact that it is legal to own a domiciliary account in Nigeria AND that many use it for legitimate businesses

Thanks for snitching on cbn... Biko those with dorm account should do the needful asap.

lalasticlala:


Nonsense suggestion!

Really? Is that because that's a bad business for those who are trading naira, the naira speculators?

lalasticlala:
A House of Representatives member, Ibrahim Obanikoro, representing Eti-Osa Federal Constituency, Lagos State, has called on the Central Bank of Nigeria (CBN) to close all domiciliary accounts for the next 12 months.

Ibrahim B Obanikoro wrote:

"I am not the CBN Governor but at this moment, I'm of the opinion that CBN should mandate that all dorm accounts be closed for the next 12 months. Let's see the effect on the Naira. After all you can't go to any of the Western world and open a foreign currency account. Your opinion."


Nonsense suggestion!

Very Stuuuupid & callous suggestion / advice.

Sewgon79:


As you said the idea is stupid. I agree with you, please can you come up with your own idea. The last i check, in America there is nothing like domiciled account. Once you open account, it should be enough for transaction. You only go to bank to get the ROUTING AND SORT CODE for international transaction. But here in Nigeria. We have different account for foreign transaction and local transaction. I think what the guy is trying to say is that CBN should allow people to transact international with Naira account and bank will do the conversion. Instead of going to buy Dollars and put in seperate account and call it DOMICILED ACCOUNT for foreign transaction.

All CBN need do to make the naira stronger is to reduce the circulation of the highest denomination of Naira(#1k) ....one of the best ways to strengthen a currency is making it scarce....all these noise about domicile transactions is needless.


We need young visionary leaders in all positions not these dull heads and charlatans parading themselves in position of power.

Sewgon79:


[s]Now i understand you now. There is different between being an eloquent writer with good english command and being an economist[/s]. I think you are very good in one which is English Writeup but you are not a sound economist. [s]Making Naira scare will cause deflation and too much of money in circulation will cause inflation[/s]. I will suggest Nigeria government need to monitor what we import against what we export so as to balance trade. This will strengthen our economy. They can do this by reducing all this unnecessary importation materials like plastics, tooth picks, to mentions but few.

Those things that a normal or average Nigeria can produce that is what is being import in Nigeria. And in economy when what you import is greater than what you export. There is bound to be influx of buying dollars and trading it for their importation which is affecting our economy this days.

Moreso, Tax duties should be waves to encourage more SME scale business in the country. Also i dont see reason why our banking system needs to have seperate account where people buy dollars and funds the account to trade international in name of DOMICILED ACCOUNT. It is not done in China, not done in Europe and not done in USA and UK so why should it be apply here in Nigeria. If you want to transact, informed banks and let bank do the conversion and tells you how much you will pay in Naira. Shikena

Your response to my suggestion clearly shows you didn't comprehend it....where did I suggest making naira scarce? Do you know that there is £1k (one thousand pounds) yet you can hardly get it for use or see it in circulation.....next time read to comprehend and not for replies and quote sakes....
Henceforth ill ignore your quoting me.
I won't dignify your toxic ignorance making you to reply with a subtle insult....clearly you lack comprehension towards my suggestion.

@SENIORWRITER

Tha northerners ah empty skulls and they ah running this country to tha ground.

What a shit show

Wetin we do our self electing this mumu? And they are just doing tubom Rubin, if they try this they will try that. So na that one now be the problem abi? This illiterate don kill Nigeria

Seun:
The most idiotic thing I've read this year. Yet now that they are bold enough to say it out loud, it seems clear that they are going to do it.

DoM account is very wrong,it's the beginning of this corrupt system
There is nothing like Dom in civilized world,your naira account should be able to conduct transaction In any currency

Instead of him to suggest ways of earning more forex he's coming up with a stupid suggestion

Nigerians would be busy destroying naira and would still be busy accusing the government of incompetency. Hypocrites everywhere

Nigeria cest fini

Na e everybody wey domiciliary account dey travel out?
Na wa for this guy thinking oo

Just imagine the level of wickedness. After stashing up your dollars in an offshore account somewhere, you're suggesting closing domiciliary accounts of Nigerians that are struggling. Wow!

WILL THIS REALLY HELP THE NAIRA?

What he suggested may not have the desired effect. Politicians and corrupt civil servants are hiding billions of USD in their bedroom and other secret locations. If we close all dom accounts, they will still keep buying the dollars and keeping them in secret places.

Did Jide guy na my good friend, we go school together for here but, na agbero to the core.

See who una dey vote for.... I don't blame the naija pple. They're all the same.

This is one of the dumbest talk ever as a lawmaker or lawbreaker. Naija needs to wake up from these set of people with 1840 Mind set.

L'ori_iro

Mumu advice

SHEY NA OBINIKORO PIKIN BE THIS,E DEY REASON LIKE BUSH MAN?
SOLUTION IS TO STOP USING DOLLARS TO STOP IMPORT OF LUXURY GOODS FOR GOVERNORS,PRESIDENTS,NINISTERS,VP,DEPUTIES ETC. NOW,
STOP ESTACODES FOR ALL FOREIGN GOVT TRIPS FOR NOW,USE VIDEO CONFERENCING ETC. USE YA COMMON SENSE,
STOP IMPORTING PRIVATE JETS,PRIVATE HELIPAD, PRIVATE ROLLS ROYCE,STOP TOKUNBO CARS,STOP IMPORTING TEXTILE DUBAI MATERIALS, FOCUS CURRENCY ON MADE IN NAIJA. IMPORT ONLY NECESSITY MAIZE AND GRAINS WE NEED FOR THE POP.
STOP MALLAM CHANGING DOLLAR ON STREETS TAKE ALL DOLLARS TO GO THRU FINANCIAL SYSTEM. NA ONLY NAIJA DEM THEY HAWK CASH FOR ROAD LIKE GNUT. ATLEAST NAIJA STILL GET PPL LIKE US WEY STILL DEY REASON LIKE OYIBO.

Mumu man

Nigerians don't even keep their foreign currencies in the bank; they keep the raw cash at home. We are not stupid

DSS should resubmit this idiot certificates for verification because is obvious he had fake certificates

DoggoneDogg:
On what mandate was this unintelligent Oluwole economist elected??
Recall that his lifeless mannequin bullion van leader also suggested printing more naira notes to solve inflation.

Na the famed brains & sophistication wey Afonja people dey always use make mouth be dis?? Na wa

Osu, give us the negative effects of that suggestion so that we can learn. Yorubas are not responsible for the frustration of the Osus and if you continue visiting your frustration on Yoruba people, you are in for an inflated B.P

I know be economy expert but my one kobo opinion na for the cbn to saturate the economy with dollar to see if the rate will come down, they have already made our economy dollar economy so withhelding the dollar will make it scarse thereby increasing the dollar rate to naira,and then they can find means to grow our economy so we won't depend on importation.

Some of us work online, how would you expect us to keep recieving our payouts