Because they don't have sense. By reducing the limit to $100 you can't even buy a cheap phone on eBay. Every online shopper now have a domiciliary account and frequent blackmarket to buy dollar in that case driving the need for it significantly.

Dialpad:
Dollars might end up at 700 by the end of the year.

My suggestion is simple, allow Nigerians to spend at least $3000 using their naira master and visa cards.

The rate will drop significantly, wonder why CBN have not implemented that.

Dialpad:
Dollars might end up at 700 by the end of the year.

My suggestion is simple, allow Nigerians to spend at least $3000 using their naira master and visa cards.

The rate will drop significantly, wonder why CBN have not implemented that.

You want CBN to fund no essential items with our foreign reserves? I have not heard any sector that use essential items complain about FX. If you insist on importing perfumes, diapers etc then go and find dollars yourself.

tumababa:


Good idea but it will be ABUSED… in so many ways

tunwumi:
I tend to think the fake news is real cos it is the system of the present CBN governor. He is an experimentalist with Nigeria monetary policy. When you hear some of his idea you know this will fail or wander if CBN Gov is empty headed human being. I haven't seen any strategic ideal from him like Soludo and SLS did. This is what happens when nepotism of Jonathan takes over competence.

He is an experimental CBN Gov.

Natajo2021:
One thing is consistent about this government, the act of lying. They can lie to the extent of calling a morning an afternoon.
There was indeed a move by Buhari to seize all the forex in domiciliary account of private individuals in deposit money banks.
The first attempt was made during the Crude Oil collapse in early 2020 following the Covid-19 pandemic.
Buhari was warned of the implications that would follow the move.
The matter was also mentioned at Northerners House of Assembly.
Buhari is still contemplating the move.
The initial rejection of the proposal was what made this government of liars to throw Nigeria into a bottomless pit of Internal and external borrowing.
They even passed a bill that authorised central bank of the North to seize the liquidity of deposit Money banks in the name of cash reserves ratio adequacy.
This has never happened before in the hx of Nigeria.
If you have forex in your domiciliary account, rise up and withdraw it, keep it underground.
This government is determined to seize private individual forex account funds.
A stitch in time ......safes many
The circulating letter was real, it was leaked by a staff member of Central Bank of the North.
The illegal move would soon be backed by a superseding bill that will allow central bank to manage all currencies in Nigerian banks.
Already there was a loop hole in the existing cbn act which enable them to determine the fate of any legal tender, gold inclusive in Nigeria.
Remember, what Buhari cannot destroy does not exist.
Safeguard your forex.���
The endless list of dz deceptive and corrupt government cannot contain a 10 terabyte hardware.
The government denied, they were never going to increase pump price, yes they did
They denied, they were never going to devalue the Naira, with a slogan "we have enough war chest to meet Nigerians forex demand " if you hoard the Naira, it would burn u, today the Naira is destroyed by the commander in destroyer of Nigeria.
We warn Tinubu to be cautious of Hausa-Fulani he never listened to us, today the mystery of his life cannot be summarized. He was poisoned by the same people he brought to power. No Dr on earth can diagnosed the secret poisoned added to his food during a Salah break with Major Buhari in 2015 and 2016. Tinibu that used to be strong is now in a vegetative state , the irony of life, Buhari the sick man is now stronger than same Tinubu.
This government lied and lied and a groundson of Lier Mohammed asked him, grandpa , why were people calling you Liar Mohammed, he still lied for the child.
We broadcasted the news that Major Buhari was going to change his cabinet , after 3 weeks of denial he eventually did.
We told people the mission of Buhari the jihadist, people did not listen today the agenda is clear.
We told people that Buhari was going to abandon US with a secret defense pact with Russia, it happened.
We told people Buhari was going to ban social media after a period of denial he did
We told people that Buhari was going to establish Fulani colony in every local government in Nigeria , he denied dz , shortly he proposed livestock transformation he failed, he substituted it with RUGA , he failed , now he is bent on reclamation of colonial grazing routes? Bound to fail.
What Buhari cannot destroy does not exist with the exception of cattle and Fulani herdsmen and herders.
Naija safeguard your forex , Buhari is planning to pay Nigeria mammoth international debt obligations with the available forex in the Account of private individuals.
He is bend and determined to cease the unclaimed dividends , he sent a bill to the assembly in the name of a new finance act, he initially denied dz, today he is 95% sure of claiming the funds of mostly people from the South. He initially wanted to borrow the unclaimed dividends following opposition by some people he quickly passed a bill which empowered him to steal the unclaimed dividends.This has never happened in the history of Nigeria.
On so many occasions he claimed to have defeated boko haram , only for the insurgents to emerge stronger.
He was even forcing the formal statistician general to publish fake figures of an imaginary performance when 99% of Nigerians know that things have gone bad and beyond irreparable.
Indeed, a whole nation was given to the most wicked and heartless Hausa-Fulani hegemonists.
I rest my case.
Safeguard your forex
The letter was no fake.

Dialpad:
Prevent Atm withdrawals of dollars or peg it at $100 per day for any atm, can only be used for online purchases.


I understand Nigerians will have a way around this too but it may not be grossly abused.

Dialpad:
My suggestion is simple, allow Nigerians to spend at least $3000 using their naira master and visa cards.

Kfed4ril:


Wonders shall never end
Jonathan left over 7 years ago and you still blame him.
Why did Buhari reappoint him?