Amotolongbo:
What statistics?
What is the source of the data for the statistics?
How reliable is the data?
What reasonable human being takes the stat serious in Nigeria when the President already said “na statistics we go chop?”
Honestly, your head is so empty, even air no dey there.

What is your own source of statistics(which you have never provided so far) for your false narrative?. Give me your data how much CBN sold to forex market and how much debt obligation was paid in Q1 to back up your claims?. i am not interested in whatever narrative you pull out of your ass, will ignore you soon.

Mjshexy:
All businesses or institutions transacting in dollars should be immediately stopped, we can't continue this way

I totally agree with you on the above, but what of our politicians that use the same dollar to buy vote from delegates dHNNuring election primaries and general elections. Am expecting the solution to this front EFCC.

Good move

iLoveYouToo:


If the reverse were the case I’d buy into your view. It’s cheaper to pay in Naira , these people aren’t charged black market rates. Some have savings in Naira accounts

The reverse is not the case then. it is what it is and they do not have savings in Naira like you saying, ask them, why will someone working abroad earning foreign currency decide to convert his savings to Naira and save in Naira. unless they are illegal residents without proper visa. it is never cheaper to pay with naira i have people there too who operate their naira account and the so purpose of doing so is to be able to send money to their relative back home in Nigeria. they do the transaction via black market rate through theses online aboki BDC PAGA app and co, and you are expecting this same people to pay the equivalent of the dollar charge in naira and pay more for commission, bank charges etc. are you aware that all bank transfer in the UK are with zero charges unlike your Nigerian banks.

Putindbutt:

What is your own source of statistics(which you have never provided so far) for your false narrative?. Give me your data how much CBN sold to forex market and how much debt obligation was paid in Q1 to back up your claims?. i am not interested in whatever narrative you pull out of your ass, will ignore you soon.

What fact do you need again?
The Naira started falling when the allegation that the foreign reserve was used to stabilise the Naira. True or false?

This is a fact enough greater than the stupidity you are exhibiting, extracting invisible and irrelevant figures from the internet.
Could you please borrow a brain, that is if you have anyone with a brain around you.

fxexperts:
The reverse is not the case then. it is what it is and they do not have savings in Naira like you saying, ask them, why will someone working abroad earning foreign currency decide to convert his savings to Naira and save in Naira. unless they are illegal residents without proper visa. it is never cheaper to pay with naira i have people there too who operate their naira account and the so purpose of doing so is to be able to send money to their relative back home in Nigeria. they do the transaction via black market rate through theses online aboki BDC PAGA app and co, and you are expecting this same people to pay the equivalent of the dollar charge in naira and pay more for commission, bank charges etc. are you aware that all bank transfer in the UK are with zero charges unlike your Nigerian banks.

Lol. Be practical, these people have businesses running in Nigeria. It’s a fact. I won’t disclose more

Even if they wanted to transfer their foreign earnings to their Naira account, they won’t do the transaction via black market, if they did they’d even make more money.

Nigeria’s problem is capital flight not the reverse.

I understand the angle you’re coming from but that’s not it. I know a good number of people who still operate their Naira accounts. Asset management companies manage these funds for them, it’s big business

Bluntemperor:


You are not getting it, Woman!
Offshore Workers are paid Salaries ,Wages in Dollars by their terms of agreement,just like those who works for foreign Countries and lives in their house everyday but do works for Abroad-Companies and are paid in dollars!
They can convert to Naira or have a Domiciliary Accounts to receive their Charges or Money.
So,there is a lot difference between those crooked Nigerian Leaders in Nigeria,who now go to Patronise the BDC or Hotels,to change Naira received to Dollars for them -because they want high returns - as they Manipulate the Values to their advantages! e.g. those Governors,the Legislatures and their footsoldiers - can't easily account for those Money for the Masses!
We are the real enemies of ourselves in Nigeria!
Americans , British or Chinese will never undermine the Currencies or their Flags .
We Nigerians have problems,as we are not Productive enough!

Fyi, not all offshore workers that require OSP earn jn dollars in case you don't know

Amotolongbo:
What fact do you need again?
The Naira started falling when the allegation that the foreign reserve was used to stabilise the Naira. True or false?

This is a fact enough greater than the stupidity you are exhibiting, extracting invisible and irrelevant figures from the internet.
Could you please borrow a brain, that is if you have anyone with a brain around you.

Dude, are you dumb?, when does allegation equals fact?. Are we not servicing debts?. If foreign reserves is used, then how much of it was used?. Illiterates like you think CBN is giving free dollars to BDCs, that's how dumb y'all think you know. FPI was recording high inflows in the Q1 which reflected in the exchange rate value while low inflows also affects the value, simple economics. when we record a significant inflow in the market, there'd be more fx to go round and ease the pressure on demand. i'm done with you for the day, slowpokes irritates me.

SadiqBabaSani:
they should accept Naira anywhere in the world and deposit same into a Nigerian account

I'm sure you rushed to reply him, without thinking. Cos you people don't think.

Now you think you can stop other countries embassy over here from using their currency and yet yours would be allowed to freely use yours in their own country ?

Have u now seen how pathetic una situation look ?

Chimarto:
You're stopping foreign missions from transacting in dollar and ordered your own foreign mission abroad to transact in naira violating the host country's policy? Our leaders have sense but they don't have wisdom.

No bro, they are as dumb as that Monday hammer. Embassies are considered foreign soil, host country has no business instructing or advising them on their monetary policy.

I'm amazed how young people who ought to know better are defending an evil government that is bent on destroying them.
It baffles me daily these people want to destroy everything that will give the youth hope yet you see nothing wrong with it because he's your tribesman.
First it was abokifx then binance now it's foreign embassies. Una mumu sha
By the time tinubu is done with Nigeria I'm afraid if anything will be left...

okeke6969:



In the right right direction, but what has changed? All na rat race.

This is more about respect for the country.
If a chinese in China is applying for Nigerian visa in china he will be made to pay in yen not in Naira, so why should a Nigerian pay in foreign currency for visa in Nigeria when the same will not be reciprocated in another country

Chimarto:
You're stopping foreign missions from transacting in dollar and ordered your own foreign mission abroad to transact in naira violating the host country's policy? Our leaders have sense but they don't have wisdom.

I dont know if u ppl no dey read

I accept with you, Tunisia dinnar to a dollar is 3.14

Mjshexy:
All businesses or institutions transacting in dollars should be immediately stopped, we can't continue this way

We pray that this Dollar wahala doesn't send Mr.Tinubu to his early grave.
FGN wishes to stabilize the Naira, but lacks the knowledge and principles to Act.

peekspot:


https://punchng.com/efcc-stops-dollar-transactions-asks-embassies-to-charge-in-naira/

I must point out that the EFCC is wrong on this if they include embassies and diplomatic missions. You cannot dictate for other countries the currencies to transact in, diplomatic missions are representatives of their home countries. We are already facing exit of production companies and organizations, we don't want to add exit of diplomatic missions to the list.
That will mean more job losses and lesser forex inflow. Yeah, diplomatic missions do fund some of their activities in their host countries with forex from their home countries.
The EFCC should rather work with the CBN, the presidency and legislature for digitization of forex.

marenkurz:
All embassies follows their home country's rule and law. The host country don't have any rule or right over another country's embassy just because it is in your country.
Looks like most nairalanders has never been to any embassy in or outside Nigeria.
Meanwhile, Nigeria immigration charges in dollars outside Nigeria.
And you pay to get naira from POS people. Turning your own currency to a commodity. Mad country.

This reminds me of the time I went to renew my Nigerian Passport at the Nigerian Embassy in Atlanta, Georgia.
Despite having made the required payment in dollars online, upon getting there, there were still some other payments we were asked to make, (using POS without receipts), all of which were in dollars.
The current administration seems to lack direction in this regard.