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Fayose’s brother calls on Tinubu to seize dollars in domiciliary accounts to save naira



https://gazettengr.com/fayoses-brother-calls-on-tinubu-to-seize-dollars-in-domiciliary-accounts-to-save-naira/
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Were!!!

valentineuwakwe:
I dont know what this giy is trying to play out...is he trying to be popular or get attention from the nigerian public or government? Whu would government seize citizens funds in there dollar accounts or you think its only Nigerians that own dollars in there dom acct here.....
The govt knows what to do to save the naira from its free falls not all this smell smell this guy is talking here!

Is it not the govt perogative to save Lifes, properties and even the economy, we entrust our votes and picked the president to do whats best for the nation convenient or not.

The current dollar rate, depict desperate time requires desperate measure ... in a sane clime why will a Naira economy will be so obessed with dollar, it only in Nigeria our currency depends on dollar to appear in the News

Nigerians are greed and most unpatriotic people alive, the Military govt manage the Naira better becos they speak to Nigerians in the only language we understand ... To save the Naira some dexter act must be taken

Such a move should only be applicable to dollar that are traceable to CBN. Those who earned their through remittance or other personal means shouldg have to give upgheir dollar at gunpoint.

theredaddy:



I think he exaggerated way much but that doesnt discredit his recommendation .... asides Peter Obi he made recommendations why cant we analyse that

How can people be opening dollar account for savings in a Naira economy

So why single out Peter Obiis he the only dollars account holder in Nigeria?
Does Tinubu and all his Lagos gang in Aso Rock not have dollar account?
Only a mörön like Fayose will accuse any living person of having a trillion dollars in his account and if you takes him serious I am sorry you maybe a möörön too.

Supremos:

https://www.youtube.com/watch?v=cxTBVof7VVA?si=uw0EjGRR4he830wV


Fayose’s brother calls on Tinubu to seize dollars in domiciliary accounts to save naira



https://gazettengr.com/fayoses-brother-calls-on-tinubu-to-seize-dollars-in-domiciliary-accounts-to-save-naira/

Not going to happen.

What I see is the development of tenored interest bearing domicillary accounts with minimum being 30 days and max being 360 days. Locked in dollars create usable pool of dollars to match dollar demand with interest being treated as cost of funds.

Or more controversial.

But seizure...nah. won't happen.

Tax dormicillary USD to naira capital gains in dollars.

Every mad person is now financial economy expert adviser in dis awalokon regime!

Issorite!

Wat of millions of dollars in Wizkids. Davido, KCees etal akants?

Una go seize all those legit hustlers their own too?

Not only that. He is the boss. Just put a ban on whosoever will buy or sell a dollar more than 900 naira, should be arrested. And it will become exhibit also to anyone seen with more than 10 million naira in cash and 2,000 dollar cash should be arrested until he declares it

ZaddyJ:

Stop talking like an enemy of progress I am married to an American woman we both own a joint account of dom account so re you saying they should seize our hard earn money ?
We were in Kenya for the safari and NYE in dec/ jan everything they charge us after getting goods and services ( especially the art shop) we will be quoted in dollars by the local yet this does not stop their shillings from moving further and or higher than naira.
At the BDC a shilling is #4.5 meaning every 1000 kenya shillings gets you #4500 .
So why target people's hard earn income ?

Even if you are married to an American why would you need to own a domiciliary account in Nigeria ... Naira is the legal tender in Nigeria and there is nothing you want to buy within Nigeria that Naira doesnt cover citing kenya is immaterial cos people are different and every Nation has its peculiar problem that require customized solutions in accordance

In the states, did your America wife open a Naira account, even if you argue she doesnt earn in Naira, Oga you no dey dash your wife money why not credit her naira account but you know its pointless and outrightly unprofitable lets stop fooling ourselves. we elites are also problem of these country

You and America wife can have a joint dollar account restrain to US bank and it won't affect your stay in Nigeria .. before now int'l and local banks serve as intermediary to do the transfer & conversion on order.

Oga remove the awoof profit and most of you won't be so passionate & keen to have a domicilairy account in Nigeria

This one think say na Iran or China we dey.

theredaddy:



How is calling on Tinubu to seize domicilary account an attack on Peter Obi, is Obi the only one with domiciliary account, isaac also ask Tinubu to go after his brother, governor and even himself if found wanted ... so why make these about Peter OBi

they see that Peter Obi has outshine them niiii. They are just propagating lies and propaganda in order for them to seek public attention niiii. They are just clueless attention seekers niii.

The man is making allegations and I can only observed 2-Facts:
1. That Politicians are indeed - behind the Dollars Speculation, because they Stored the Dollars to armstrong Nigerian NATIONAL Currency!
2.You cannot seize all the Dollars because,some People are Genuinely Working On- line for- Companies abroad and since they are paid in Dollars- they have the right to maintain Dollars Accounts!
-The troubles is for the Banks- to identify the Politicians Accounts/ Politically Exposed Accounts - and they are known in the Banks,so get them to the FG. Government should ask the Banks to make Returns on these Dollars and forward them to Fed Govt!
-Most Politicians - especially the National Assembly Senators and House of Reps + Governors and All the Executives - should Off :loads their Accounts in the Banks - to allow Nigerians to breathe!
-Many of the so called leaders - are very Unpatriotic! Why should you be storing Dollars against the Naira?
They are the troubles behind Nigeria problems today!

paramakina202:


So why single out Peter Obiis he the only dollars account holder in Nigeria?
Does Tinubu and all his Lagos gang in Aso Rock not have dollar account?
Only a mörön like Fayose will accuse any living person of having a trillion dollars in his account and if you takes him serious I am sorry you maybe a möörön too.

He mention Obi, and at the same time indicted himself, moreover he mentioned ex & governors which includes his brother

Like i said, he exaggerated @ the 1trillion part, buh that doesnt mean he made some sense in some part, Why will people be saving up in dollar in a Naira economy

I support all private domiciliary account in Nigeria should be reverted back to naira by veto power, we need to start taking drastic measures, awoof FX difference don enter everybody eye such that stakeholders are no longer productive driven

MrProlific95:
Is this guy coke addict?

has to be

TruthsFM:
they see that Peter Obi has outshine them niiii. They are just propagating lies and propaganda in order for them to seek public attention niiii. They are just clueless attention seekers niii.

That Peter oBi is your priority & concern shows why the country is retrogressing, dollar is outshining Naira daily that one no pain you.

you leave matter affecting your relatives and i, dey fight over Peter Obi, i hope it ease your cost of living and put food on the table

Dsimmer:
I like the idea of banning speculators. Best way to crash it is to employ Ethiopia law which is to Ban all BDC and speculators. Anyone found violating it should be jailed and get their funds seized!

This is not the problem o: they are just trying to witch hunt so buy time.

TWO things:
1. Out Crude oil HAD been sold into the future and the dollar accruing has been spent: Thanks to the former administration.

In other words, we are selling (without collecting further payments) the crude for which the money had been already spent.

2. Nigeria is a consumer nation. We import virtually everything we need. We can't even survive without foreign goods both as raw materials and finished products. This puts a lot of demand on the dollar

Yes, there is speculation, but it is a minor part of the problem. Even me, I keep my savings in dollars and not in Naira : Why?
Because of the clueless nature of our government, the Naira will consistently fall against the dollar: therefore only a fool will store his money in Naira over a long time.

Let's assume government take all the dollars in domiciliary accounts and flood the market : What happens after 3 Months when we exhaust spending the money?

Back to square ONE!?

seunjungle1:
That exact what Mr president should do....change their dollars to naira at the rate of 300 naira to 1dollar.
Their eyes go clear sharp sharp

dipset01:


He is speaking the truth, many nigerians now keep money in dorm account, which is also parrt of the problem we have today, let them close all dorm account. give people the naira equivalent

gbazango:
E easy like that??

ZaddyJ:

Stop talking like an enemy of progress I am married to an American woman we both own a joint account of dom account so re you saying they should seize our hard earn money ?
We were in Kenya for the safari and NYE in dec/ jan everything they charge us after getting goods and services ( especially the art shop) we will be quoted in dollars by the local yet this does not stop their shillings from moving further and or higher than naira.
At the BDC a shilling is #4.5 meaning every 1000 kenya shillings gets you #4500 .
So why target people's hard earn income ?

It's a simple logic. When the locals quote for you in Dollars is just a means to earn Forex which in turns balance their economies of trade. In Nigeria an average man buys dollars to hoard. Definitely his buying for Profit. This is the reason for major scarcity.

I urge you to be patriotic for once, you will definitely get this.

As an America, You can always maintain your dollar account in the USA. Naira is the dominant currency in Nigeria which makes it a legal tender..

SeaTrade:
Not true,
Don't say what you don't know.
Also ,what he meant was fidelity bank is holding a 1Trillion naira equity in dollar equivalent.
Quite easy to understand tbh...

He said "1 Trillion dollars."

The title of the thread at the time I posted my comment suggested that Fidelity Bank held up to 1 Trillion Dollars. I took his words literally.

On the second part, I find it hard to believe that commercial banks in Nigeria have up to 1 billion dollars in their reserve culmulatively.

People who make huge sums in dollars have the resources to stack their cash abroad preferably at tax havens. NDIC does not have what it takes to insure their money so they cannot risk keeping their cash in a domiciliary account in Nigeria.

Foreign remittances by family and friends are mostly undertaken through Financial services like
Moneygram and western union. After withdrawal, it's straight to the bureau d changer.

The proliferation of bureau d changers across Nigeria cannot be over emphasized. They keep as much dollars as possible in circulation.

The dollar thieves prefer to hide their dollars in safes at home.

The younger generation (yahoo boys and the likes) prefer to keep their dollars in digital wallets which they can easily use to trade cryptocurrencies and bypass government restrictions.

When reasonable amount of dollars gets to a commercial bank it is usually for foreign settlement maybe by an importer or foreign student, etc, which means they don't even get to keep them.

I've thought about what could make commercial banks have up to a billion dollars in their reserve and nothing makes sense to me. Maybe I'm underrating them.

Enlighten me on why you think they have more.

matify83:
Even Elon musk plus Jeff Bezos combined wealth is not up to a trillion dollars .

If PO has such amount, then it's obviously not gotten from our economy.

If that kind money is in our economy, what do you think will happen to the lending industry? It will crash it. America no get that kind money stagnant in their economy nah small Nigeria.

How much be total bank capitalisation in Nigeria.

The guy is a big clown.

If government seize dollar. Investors will run. Our money will become worthless.

Where did everyone see 1 trillion dollars on this post and how does it relate to the topic?

Someone should please help

When you give platform to people that needs help.

Dem no born him papa well...make he try am!

A lot of Nigerians are very dull plus ignorant. This is a very poisonous combination.

Countries that have tried this durint economic crisis include iran lebanon and argentina. Money the government seizes would only feed thier corruption.

The economy will subsequently crash and 20000NGN to 1 dollar will be in sight.

Dont take my word, do your research if you have the brains.

Supremos:

https://www.youtube.com/watch?v=cxTBVof7VVA?si=uw0EjGRR4he830wV


Fayose’s brother calls on Tinubu to seize dollars in domiciliary accounts to save naira



https://gazettengr.com/fayoses-brother-calls-on-tinubu-to-seize-dollars-in-domiciliary-accounts-to-save-naira/

greenie77:


And EFCC is restrained from arresting them?

I don't work with EFCC

I don't know why Nairaland is giving this unstable human being this much attention. Always on the front page FFS. Your brother and the other politicians messed up Nigeria's economy so start with them.

Supremos:

https://www.youtube.com/watch?v=cxTBVof7VVA?si=uw0EjGRR4he830wV


Fayose’s brother calls on Tinubu to seize dollars in domiciliary accounts to save naira



https://gazettengr.com/fayoses-brother-calls-on-tinubu-to-seize-dollars-in-domiciliary-accounts-to-save-naira/

He is right to some extent.

Isaac Fayose reminds me of Proverbs 14:7:
Stay away from a fool, for you will not find knowledge on their lips.

TruthsFM:
the clueless clown Isaac fayose the clueless junior brother of Ex governor Ayo Fayose no see money to spend lavishly again. Tinubu government don spoiled their business of looting. Instead of this clueless clown, liar and propagandist to show his frustration on tinubu and his team in government, he’s looking for public attention to start attacking Peter Obi. PO should reply him and his failed senior brother Ayo Fayose. This clueless liar never condemned the bad economic policies of Tinubu government. It’s the opposition party and its presidential candidate he’s attacking. Let obidients deal with you online and offline, you will hate yourself. No free money from Ayodele Fayose. Ayo Fayose don broke. Radarada no one should take this clown serious

Okay.
But is it true that Fidelity bank is amongst the banks that are hoarding dollar? Even to the tune of $1tril? Does PO have affiliations with the Fidelity bank as alleged?

Take a very good look at that guy don't he look like a clown

The guy is a new YouTuber who is looking for traffic to his channel he knows that once he mentioned P.O he will get a massive traffic...a big 🤡 🤡 🤡

theredaddy:



That Peter oBi is your priority & concern shows why the country is retrogressing, dollar is outshining Naira daily that one no pain you.

you leave matter affecting your relatives and i, dey fight over Peter Obi, i hope it ease your cost of living and put food on the table

I’m not fighting for Peter Obi here, I’m only dragging the clueless attention seeker Isaac Fayose for splitting lies and propaganda against Peter obi. In this generation, lies and propaganda doesn’t hold any water again.