₦airaland Forum

Morning…..

SpiritedCheer:
Health of the economy does not depend on removing flexibility in the use of Dollar or any foreign currency within the country. The effect this policy will have on the economy is like pouring a cup of water into the ocean.
Even if domiciliary accounts are taxed, will the government use the money judiciously? For instance, will they use the money to provide uninterrupted power supply?
I am just surprised that Nigeria has any sort of economic activities without regular and stable power supply. Without stable power here in Canada, industrial activities would come to a halt, and the economy will collapse! The saddest aspect is that Nigerians have accepted unreliable power supply as normal.
A lot of comments here are obviously by young people who do not understand the salient issue.
If the federal government captures and hoardes foreign currencies, it will make foreign currency scarce, and very valuable within the country. This will inevitably lead to smuggling. Also, people who really need foreign currency might decide to receive them in Cotonou and other surrounding countries. Till date, Nigeria has prohibitive laws that benefit the economies of Benin Republic and Togo.
The federal Government is just chasing shadows, just like they have done for 60 years.
Ultimately, the value of Nigeria's currency against the Dollar is based ONLY on exchange of GOODS and SERVICES on the world market; (ie, EXPORT). As usual, the government is clueless, so they are making token effort.
Nigeria's economic structure needs radical restructuring. We have US, Canadian, German models to guide us. Instead, we are practicing the same backward economic system that was started in the '60s, which equalizes all States in the Federation, nationalizes poverty, and hinders advancement. Every succesive administration follows the old structure because it is in the interest of certain group of Nigerians for the economy to remain OVER-CENTRALIZED.
Only restructuring of our economic system will rescue Nigeria from being a failed State. In fact, it is almost too late. We are already seeing the sign of Nigeria's disintegration through economic hardship and insecurity. It will get worse, because Nigeria recently took delivery of massive armaments from the US. Insecurity in Nigeria is a symptom of lack of economic opportunities, and the leadership spent $1 billion to fight symptoms.

God bless you sir!!!

Raiders:
what I am trying is we have had this policy before and it didn’t help the Naira. I remember sending money from US to Nigeria from 2013 to 2020 and all my receivers got paid in Naira. Yet the naira was still losing value so it’s not like it’s a new CBN policy. Some businesses in Nigeria needs dollars for their legitimate businesses, parents needs dollars to pay for their children school fees abroad. We have too much demand for dollars because WE ARE NOT PRODUCING ANYTHING as a nation. It’s simple economics 101. When the demand for a product is high, prices will go up. We need to start producing and reduce importation to help our currency. We can also get more foreign reserves from sales to other countries if we start producing goods

Leave them brother let them keep memorizing all the theories they learnt in school that can only work in countries that tamed or brutalized corruption. They think all these theories will produce effective result were corruption rules the day in a country like Nigeria.

CORRUPTION kills industrialization, innovation. Agriculture, security and all things that can make Nigeria be a great country.

Just leave them and keep watching the drama!!!!

Macphenson:
Nnaaa mehn, I thought Tinubu is a master strategist, I never knew he is a trial and error strategist.

On this issue of dollars scarcity, stop corruption and looting by our politicians and civil servants and trust me we will have enough dollars in circulation.

When they loot in Naira, they use their loots and by up the dollars in circulation and store in either their bank accounts, or their vaults at homes or use it to buy properties abroad.

Most of these estates in high brow areas in Lagos and Abuja with tight securities have so many vaults stashed with dollars.

These people keep making economy policies that can not work in Nigeria because of corruption but can only work in countries that have tamed corruption brutally

Morning……

Morning…

What is the difference between two of them…


Both of them are terrorizers that terrorize the civilians.


Proud and Lawless people.


So they expect the citizens that both terrorize and oppress to help them solve their problem?

Morning..

Morning....

I hope Bloody civilians can help you.....

Morning...

Afternoon….

Morning…

Bloody civilians can't help you soldier!!!!!

Bloody civilians can't help you soldier!!!!!!

Morning..

Sad …. When will my people produce leaders who will deal with CORRUPTION ( death sentence) like China is doing?. That is when Nigerians will BREATHE.

Nigeria had been a corrupt country since independence 1960 to present.

Anybody that comes with any economy policy is only deceiving you because it won’t safe the country.

KILL CORRUPTION OR CORRUPTION WILL KILL NIGERIANS…………fact

Lead....

Morning

One can imagine how peaceful Islam is towards Christianity.

Morning..

You see how Muslims treat Christian minority among them.

But when there is war just as it is in Gaza the majority Muslims will start using minority Christians among them as shield of love to avoid being bombed.

That is how they operate !!!

Happy Sunday

Good morning…

Uprightness100:
Nigeria:
A video is going viral , showing a Fulani Islamist militia catching a Christian man in Mangu, Plateau State

This short video shows only the first few seconds as it’s too graphic, but in the long version, they call him an “infidel” & slit his throat with a machete

Where is the International Court of Justice? That’s a real genocide!

Amir T

When we tell the world that Christians in Nigeria are being attacked by Muslims in Islamic religion, it is REAL and happening. This is one out of thousand evidences available.

Let the international communities take note!!!

We have seen so many young actors and actresses posing acting films. I hope this is not another one.

Morning

Afternoon ….

Afternoon

Morning..day