You can't legislate a country to prosperity. If such is possible, there will be no need to study economics in university and country who tried such found out the hard way. Zimbabwe tried what you stated here but it only made it worse. The moment the government begins to strong arm free market, investors will lose confident in local currency and inflation will skyrocket.
Another country that tried the approach you state was Venezuela. The president implemented various draconian laws just to shore up local currency and the effect makes local currency worthless than the paper it was printed on. In the height of inflation in Venezuela, you need a wheelbarrow full of cash to buy bread.

NAC1666:

Says who. I warned government from unifying the CBN rate and the black market rate. Which sane country operates two different BDC and aspect it currency to still have value?
Solution is,1. Arrest all the black market BDC and charge them to court for economic sabotage.
2. Only the commercial banks to be allowed to operate BDC.
3.Nigeria should stop importing fuel especially now Dangote has started production.
4. Nnpc should be disbanded and all the various chairmen be arrested for failure to remit into the federation Account for almost 3years.
5.The NPF should be empowered to arrest any individual spending dollar or holding dollars inside the country.
6. All transactions of international trade should be done by the banks whereby money will be transferred from Nigeria banks to any
Part of the world where it's needed.
It's not a rocket science to make the naira strong,just common sense

Zanzibar1:


The government is not in control of the dollar.
Can't you see the spike in naira to dollars rate, and the government measures to control it

They won't understand, no need of convincing anyone. Just agree with them and move on

gaby:
Lobatan

Even Japa don jam Sapa

I want enter studio to make a hit single titled

" Japa see Sapa hala Emilokan".

Make una help me find Don Jazzy, Davido, or Olumide.

We are bringing the Grammy home...

I hate to be the purveyor of this, but if you are a Nigeian and can't afford to shore up your Naira by saving in Dollars, abeg, go buy CFA.

No thanks, don't mention.

Use your opolo.

Bros, no be lie. Sense dey you talk.

My friend travelled to Cameroon last week, my say, Cameroon CFA don pass Naira by X2+..

..Even small CFA now, go give you X2 of Naira.

henrimoto:
Bros, no be lie. Sense dey you talk.

My friend travelled to Cameroon last week, my say, Cameroon CFA don pass Naira by X2+..

..Even small CFA now, go give you X2 of Naira.

Most people will take this as a joke.

$1 exchanges for tops 600CFA.

When a good number of Nigerians get in on this, tell me how dem wan take save the Naira?

Na to dey stroll enter Benin Relublic and Niger everyday to bury the Naira and allow Dollar Breaffff

See the raw evidence.

I no dey do emotions but facts...

So this government came to finish off Nigeria.
Naira free fall as if the country is fighting civil war. The worst performing currency in the whole world.

gaby:


Most people will take this as a joke.

$1 exchanges for tops 600CFA.

When a good number of Nigerians get in on this, tell me how dem wan take save the Naira?

Na to dey stroll enter Benin Relublic and Niger everyday to bury the Naira and allow Dollar Breaffff

See the raw evidence.

I no dey do emotions but facts...

Bros. Abeg , throw more light on the bolded part, Abeg.

henrimoto:
Bros. Abeg , throw more light on the bolded part, Abeg.

When everybody understand this dynamics, even you go turn to Billionaire in Naira but without a loaf of bread in your house.

Them son kill the country. Na burial arrangement dey go on right now.

Make una open una minds and eyes.

I no dey look for friends or people to like me for real life not to talk of offline.

I dey only try to educate as much as I can.

henrimoto:
Bros. Abeg , throw more light on the bolded part, Abeg.

Find way to Cameron or Benin, convert your hard earned money to CFA by transfer. Siddon for one corner dey observe the madness with Naira.

Peace.

gaby:
Lobatan

Even Japa don jam Sapa

I want enter studio to make a hit single titled

" Japa see Sapa hala Emilokan".

Make una help me find Don Jazzy, Davido, or Olumide.

We are bringing the Grammy home...

I hate to be the purveyor of this, but if you are a Nigeian and can't afford to shore up your Naira by saving in Dollars, abeg, go buy CFA.

No thanks, don't mention.

Use your opolo.

AngelicBeing:

lexy2014:


who is in control of the dollar?

who is supposed to be in control of the dollar?

His grand father is in control

Zanzibar1:


The government is not in control of the dollar.
Can't you see the spike in naira to dollars rate, and the government measures to control it

And Jonathan was in charge of dollar rate in 2015 when APC-Yorubas lead propaganda protest against him ?

crossfm:
Hehehe.

Make una leave us alone with this type of news,na person wa chop belle full da travel .

😄😄😄😄
I ❤️ ur comment

This is why you need an ambitious government to run a country and not a "Cartel" you can imagine the rate at which dollar is edging naira but dem polithiefcians aren't finding it hard to travel unnecessarily.

No shock here.

Zanzibar1:


The government is not in control of the dollar.
Can't you see the spike in naira to dollars rate, and the government measures to control it

Who is in control of the dollar?

Aloof:

Who is in control of the dollar?

I am the one

Chai, My plane ticket was 249,591 British airways Abuja to Manchester 🥺

Things has really gone bad

Zanzibar1:


The government is not in control of the dollar.
Can't you see the spike in naira to dollars rate, and the government measures to control it

you know nothing about economy

Zanzibar1:


The government is not in control of the dollar.
Can't you see the spike in naira to dollars rate, and the government measures to control it

Government is not in control? Are you alright??

Iamzik:

Government is not in control? Are you alright??

No I'm not

Zanzibar1:


The government is not in control of the dollar.
Can't you see the spike in naira to dollars rate, and the government measures to control it

Who is this abeg?

Zanzibar1:

No I'm not

Oh! It's obvious you aren't.

Zanzibar1:


The government is not in control of the dollar.
Can't you see the spike in naira to dollars rate, and the government measures to control it

So the government is not incontrol because a yoruba man is now the president?

The solution is to book the flight while abroad and never while in Nigeria.

planetx:
Take a road trip around Nigeria or West Africa instead of London or NY.

It was stated in the article that very few Nigerians fly for leisure, let alone fly to those locations for tourism.

Post aside, APC right from Buhari made Nigerians poorer. The demotion is mind-boggling!

MasterTeeUSA:
Even flights to Naija from US UK don increase like ...a it's not only from Nigeria...thank God for some low cost airline...no food, you pay for each luggage, no movies and all...but they only do certain routes US to UK...the rise in flight prices na everywhere o

Isn't that dependent on seasons? Say Christmas rather than now? If I, as a resident in the abroad, book a flight to Nigeria to fly by, say, March or May, shouldn't it be cheaper than doing so while in Nigeria?

NAC1666:

Says who. I warned government from unifying the CBN rate and the black market rate. Which sane country operates two different BDC and aspect it currency to still have value?

Let's dissect your unfounded post one by one.

Solution is,1. Arrest all the black market BDC and charge them to court for economic sabotage.

Your buddy dictator Buhari could not do it as that would be illegal. We are not in a military regime.

2. Only the commercial banks to be allowed to operate BDC.

Not true. There exists exchanger spots in different parts of the world not owned by banks. Why should Nigeria be different? Anyone should be allowed to change the naira or vice versa to any currency of his/her choice anywhere in the country, which must not necessarily be a bank.

3.Nigeria should stop importing fuel especially now Dangote has started production

.
Dangote is selling at global prices. So, the savings from buying from Dangote is strictly logistical. Dangote would not sell to NNPC at below prevailing market prices o. I don't know where you got that info from.

4. Nnpc should be disbanded and all the various chairmen be arrested for failure to remit into the federation Account for almost 3years.

Mission impossicant. BTW, NNPC chiefs cannot be corrupt without the involvement of senior government officials. Who was the Minister of Petroleum under Buhari's administration? You people over-rate your elites.

5.The NPF should be empowered to arrest any individual spending dollar or holding dollars inside the country.

See above. The major spenders of dollars are your elites. When did elites start arresting elites? Who bought delegates' votes with dollars?

6. All transactions of international trade should be done by the banks whereby money will be transferred from Nigeria banks to any
Part of the world where it's needed.

This has always been the policy ab initio. How else do you think international transaction are made? Via OPay?

It's not a rocket science to make the naira strong,just common sense

The naira cannot be strong and, in fact, ought not to be strong. Nigeria does not need a strong naira. South Korean Won and Japanese Yen are very weak. It is common to read billions and trillions of Won and Yen, whereas these sums are millions in dollars. Is Nigeria better than any of those East Asian countries?

Compared to the past, it has increased...Christmas is even worse...flight to Nigeria $5000 and nor business or first class...economy...I had to go from US to UK on low cost airline then UK to Nigeria when I saw that US to Naija July time was $1700 and splitting was $1800 with opportunity to visit UK going and coming...omo something is not right and the planes to Naija was still FULL o hahaha

Gerrard59:


Isn't that dependent on seasons? Say Christmas rather than now? If I, as a resident in the abroad, book a flight to Nigeria to fly by, say, March or May, shouldn't it be cheaper than doing so while in Nigeria?

Gerrard59:


It was stated in the article that very few Nigerians fly for leisure, let alone fly to those locations for tourism.

Post aside, APC right from Buhari made Nigerians poorer. The demotion is mind-boggling!

They are the enemies referred to, they have come to steal,to kill and to destroy and they are doing a good job of it