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The Solution To Nigeria FX Problem - Politics (2) - Nairaland

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Nigeria’s FX Reserves Reach Three-Week High, Gain $262 Million / Nigeria's FX Reserves Drops To $32 Billion, Lowest In Six Years / Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years (2) (3) (4)

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Re: The Solution To Nigeria FX Problem by talk2hb1(m): 7:49am On Feb 01
Bullfallo:
How CBN can tackle raising inflation and bring down usd 1$ back to N200 or N500 at most.

1, For Nigerians travelers ( that needs physical cash BTA)
Asign personnel to Exchange fx directly from the Airport only with requirements like visa and traveling ticket evidence.

2, most of the Exchange fx can as well be gotten from the returning at the airport from those who might want to change their fx.

3. A) all Nigerians that needs foreign currency most open an E-naira accounts. Confiscate and mop up all physical foreign currency trading in the market and issue them the digital currency wallet via the e-naira. They can hoard limited fx if they like but it must be the digital on the e-naira wallet and not on the physical notes.

B) Create a dollar, pounds, euro wallet account . (At least the major currency Nigerians are mostly using) inside the E-naira platform where people can conveniently move monies from there enaira account at the approved exchange rate converted to all currency wallets. They can as well convert it back to naira wallet any time as needed.

C) Major importers will have to registered with the CBN and ensure they are truly importers and have their limit increases base on their import capacity. No physical dollar will be giving but digital dollars on their e-naire. Also encourage foreign merchants especially the Chinese to open an enaira wallet for easy transactions. Cbn will need to promote and sell the enaire idea to Chinese merchants.

D) mini importers and others can make purchases online with the enaira dollar mastercards at a minimum limit of 5k or 10k usd a year.

E) flight tickets booking should be done via enaira master cards.

F) school fees or those sending money abroad can use the same enaira cards or crypto currency as it already been done.



Their is more to this abnormal dollar price, obviously Economic Experts can't figure out out our Dollar problem.

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