NewStats: 3,262,004 , 8,175,850 topics. Date: Saturday, 31 May 2025 at 01:31 PM 2g1z5e

Wisdomkosi:


Source : https://politicsnigeria.com/senate-moves-to-ban-foreign-currencies-in-nigeria-insist-on-naira-only-transactions/

I Ned here,for if you go to other Countries,na that Country Currency you fit use,not any Other Currency!
It shows,we are getting there,for how can you use other Currency in UK,other than Pound Sterling €!
Our Banks should be made to be able to be responsible or make Some Banks Executive - Scapegoats so as to enforce this Rules,as we don't Obey Rules, until Somebody is forced.

Story for gods

I thought it was already made illegal for anyone to use dollar for domestic transactions

They are jokers. Are they not the people spending the dollars

This bill should be more important that the Tax bills

No Be Small Thing ooooo

Bunch of clowns. They are the major culprit in the exchange rate problem. They negotiate bribe in Naira and order MDAS to change it to dollars for them.

Na who use foreign currencies for this country?

This bill will be the best ever since the beginning of this current democratic dispensation, if it can be ed to law and assented to by the president.
Colonial rules are still very much here with us in the form of the day to day currency exchange in Nigeria.
I hope the elites will not work against the ing of the bill to law because they are the one that are exposed to the use of foreign currencies .

What will the Governors now slide into Agbada as kickback from contracts ?

Smh
What took them this long?
In South Africa,it's a crime to openly use another currency aside their own as a means of transaction!
The problem isn't the making of such law but ensuring proper enforcement to serve as a deterrent to others!

They should stop selling our crude oil in dollars. This is where the miracle of our economic recovery lies. Sell our crude oil in naira and the rest will be history.

What a lazily thought out and Draconian solution to a problem that has a most elegant and simple solution.

Name 3 countries doing well economically in the world that have these laws.

You can't because there are none.

The basis of a healthy economy and an affordable exchange rate is NOT snatching everybody's dollars but instead boosting the exports of such a country.

Of course that involves actual work by a serious govt and not a childish knee jerk reaction like you have proposed here.

, China, Malaysia, Singapore, Rwanda, Saudi and Chile did not grow their economies via your brutish means.

Rather, they found what they had comparative advantage and began to push it out and their economies grew, of course at different levels but at least all of them grew.

Whereas, you think like APC, short term and anti-people.

May knowledge deliver you

4words:
This as always been my take.

I am proposing the following solutions to mitigate or solve the free fall of naira against foreign currency.

After careful consideration, here is what i propose:
1. The Federal Government (FG) should place a ban and make illegal the presence or utilization of physical dollars(foreign currency) in Nigeria. Any international remittance received should be promptly converted to the local currency (Naira) upon receipt by the recipient or deposited into their domiciliary .
2. Upon entry into Nigeria, all foreign currencies must be converted to Naira or deposited into the owner's domiciliary .
It would be deemed illegal to enter Nigeria with any other currency aside the naira.
3. All transactions involving the purchase of foreign exchange for international transactions should be conducted electronically. This electronic system would enable efficient tracking and monitoring of foreign exchange transactions.
4. Individuals with physical dollar(foreign currency) will be given a specified timeframe to convert them to Naira or deposit them into their domiciliary . Owning physical dollars will be illegal after the stipulated period.
5. Funds held in domiciliary s cannot be transferred to another domiciliary but can be used for international transactions or converted to Naira. The sources of foreign exchange will be documented electronically through banks or fintech platforms, ensuring transparency and ability in the process.

This, i believe will greatly stabilizer the fall of naira and every regain its strength.

Wisdomkosi:


Source : https://politicsnigeria.com/senate-moves-to-ban-foreign-currencies-in-nigeria-insist-on-naira-only-transactions/

Good initiative. How can a landlord ask you to pay rent in dollar or pounds Sterling,a store tagging their wares in foreign currency. It is not done so in other countries.

I want the bill to quickly so that it can our currency thank you senator ned nwoko

Can demon cast out demon? Watching in 3D..

VULCAN:
What a lazily thought out and Draconian solution to a problem that has a most elegant and simple solution.

Name 3 countries doing well economically in the world that have these laws.

You can't because there are none.

The basis of a healthy economy and an affordable exchange rate is NOT snatching everybody's dollars but instead boosting the exports of such a country.

Of course that involves actual work by a serious govt and not a childish knee jerk reaction like you have proposed here.

, China, Malaysia, Singapore, Rwanda, Saudi and Chile did not grow their economies via your brutish means.

Rather, they found what they had comparative advantage and began to push it out and their economies grew, of course at different levels but at least all of them grew.

Whereas, you think like APC, short term and anti-people.

May knowledge deliver you

You are hilarious with you response or thought process.

Many country's don't allow use of foreign currencies in within their territory. You can't buy anything with foreign currency in a place like South Africa you will be asked to go change it the designated bank and not black market.

Also, nigeria is not like every other country because if we are, we would respond positively to many economics theory that worked in other countries but failed/failing In Nigeria.

It's only Nigeria that her citizen bet against her own currency and pray for it failures. Check the stat. Nigerians Highest number of crypto holder, betting against the naira and weakening it.

Country with youth who don't want to do the hard job but flex and show off.

Keep blaming the government as if government is not the representationof the people, if you are given the power, you will do nothing different.

My brother, just say the policy will affect you because possibly you buy and sell dollar. I don't understand why not been able to spend dollar within nigeria would be a problem for you when you can always buy and spend it online to do international business that it's is originally meant for.

ednut1:
Senators are among the people who use it the most hahaha

so whaat does this mean? Der should cancel the bill?

Ijaya123:
Thought it is already illegal to use foreign currencies as legal tender in the country?

Many Nigerians seems not to know .....

Mugu44:
That's how Tinubu & Cardoso said EFEMS was bringing down the dollar to N50.

What happened?
Has it malfunctioned or is Tinubu waiting for Emeka Singapore & Dozie Hong Kong to reduce it further?


Trial and error government of clueless thieves

LYING DEMON FROM HELL.

NOBODY PROMISED TO BRING DOWN THE DOLLAR TO N50.

SATANIC BASTARD COMING ONLINE TO TELL LIES AGAINST YOUR FADA.

ANIMAL.

He should be more concerned with this bill also, any other that will benefit his constituency directly and forever forget about ANIOMA State he is trying to force the aboriginals of Delta North into
....Subtly preparing self for Governor of the new State with Obiageli as First lady.

Same foreign currency that will be used during primaries

Mugu44:
That's how Tinubu & Cardoso said EFEMS was bringing down the dollar to N50.

What happened?
Has it malfunctioned or is Tinubu waiting for Emeka Singapore & Dozie Hong Kong to reduce it further?


Trial and error government of clueless thieves

Did you read the article at all?

This your new moniker just dey sweet you

4words:
This as always been my take.

I am proposing the following solutions to mitigate or solve the free fall of naira against foreign currency.

After careful consideration, here is what i propose:
1. The Federal Government (FG) should place a ban and make illegal the presence or utilization of physical dollars(foreign currency) in Nigeria. Any international remittance received should be promptly converted to the local currency (Naira) upon receipt by the recipient or deposited into their domiciliary .
2. Upon entry into Nigeria, all foreign currencies must be converted to Naira or deposited into the owner's domiciliary .
It would be deemed illegal to enter Nigeria with any other currency aside the naira.
3. All transactions involving the purchase of foreign exchange for international transactions should be conducted electronically. This electronic system would enable efficient tracking and monitoring of foreign exchange transactions.
4. Individuals with physical dollar(foreign currency) will be given a specified timeframe to convert them to Naira or deposit them into their domiciliary . Owning physical dollars will be illegal after the stipulated period.
5. Funds held in domiciliary s cannot be transferred to another domiciliary but can be used for international transactions or converted to Naira. The sources of foreign exchange will be documented electronically through banks or fintech platforms, ensuring transparency and ability in the process.

This, i believe will greatly stabilizer the fall of naira and every regain its strength.

freemi:
so whaat does this mean? Der should cancel the bill?

its already illegal to use foreign currency in Nigeria but its not being enforced. Its hypocrisy

This foolish politicians sha let primary elections comes now nah dem dey spend dollars

Wisdomkosi:


Source : https://politicsnigeria.com/senate-moves-to-ban-foreign-currencies-in-nigeria-insist-on-naira-only-transactions/

Fully ed!

But Tunubi paid delegates in dollars during last election na. They should be fooling themselves

Wisdomkosi:


Source : https://politicsnigeria.com/senate-moves-to-ban-foreign-currencies-in-nigeria-insist-on-naira-only-transactions/

This is the kind of bills that should be given warm welcome and speedy age just like that of national anthem.
Kudos to Regina Daniel's man on this 🙌🏾🙌🏾🙌🏾🙌🏾🙌🏾🙌🏾

Mugu44:
That's how Tinubu & Cardoso said EFEMS was bringing down the dollar to N50.

What happened?
Has it malfunctioned or is Tinubu waiting for Emeka Singapore & Dozie Hong Kong to reduce it further?


Trial and error government of clueless thieves

For trial and error my brother I think it's still a boss move so do you mean if they plan to do something and they did it but it started killing millions of people daily so they shouldn't reverse it ?


If they didn't try it how will they know if it works or not.


Also before now u are part of the people that said Nigeria is bad so they need to try new things that might be the best for Nigeria to move forward ⏩.


Don't use hatred plz just be sincere with yourself ..

Think about it and then u Wil understand me ..

Another propaganda bill

Is it innocent nigerians that showboat with dollars

Just as the LG supreme Court ruling, what's the outcome

Awon oloshi oloriburku werey

tinubu and his lickazz, e ma segbe