I just woke up early this morning to read an SMS from bank notifying me that effective from 26th of this month they'll stop issuance of Dollar bills to recipient of money on Western Union money transfer, MoneyGram and all other such funds transfer in compliance with CBN directives. Although I don't expect any funds from Obodo Oyibo, but am imagining the (negative) effects this policy would have on (especially) those small BDCs at Presidential and GRA in PH and Ama-Awusa in Owerri and other places.

Do you have any idea what other implications (negative or positve) which this policy could bring to individuals and the general society?

It is long over due! It will help to stop the presure on the Naira that causes it to lose so much Value. This is good for our Economy.If is True, Welldone GEJ!

Shen Teh: Thiz iz bery bad por biziness. Yo mean Mallam Sanusi haz affrooved zha killing op our USDallars Boro do Change bizziness? Kai! Mallam Adamu helf us tu tell zhat 'dan iska' tu stof zhat nansense kawai! Doz he wan us tu all go back to pushing wheel-barrow and gateman work? Me kuma I not pit sell goro and or do maibara por thiz Legas again pah. Allah kiaye!

Oh, my Goodness! Please, tell me where you grew up cos you killed that accent! Very funny, bro.

invest-now2013:
It is long over due! It will help to stop the presure on the Naira that causes it to lose so much Value. This is good for our Economy.If is True, Welldone GEJ!

I gather that the apex bank is trying to stop the dollarization of our economy which has consistently put too much pressure on our Naira and undermined all efforts at managing exchange rate between both currencies.

There are also allegations that some (corrupt) politicians are buying and stashing away dollars in heavy quantities against 2015 thereby increasing demand for the dollar.

These are the kinds of actions and decisions our gov't should have been taking over the years to save our economy and our people but they didn't cos of their primitive greed for money and power.

Thanks to Sanusi, and to the Finance Minister and to the President for doing the right things no matter whose stake is there.