How CBN can tackle raising inflation and bring down usd 1$ back to N200 or N500 at most.

1, For Nigerians travelers ( that needs physical cash BTA)
Asign personnel to Exchange fx directly from the Airport only with requirements like visa and traveling ticket evidence.

2, most of the Exchange fx can as well be gotten from the returning at the airport from those who might want to change their fx.

3. A) all Nigerians that needs foreign currency must open an E-naira accounts. Confiscate and mop up all physical foreign currency trading in the market and issue them the digital currency wallet via the e-naira. They can hoard limited fx if they like but it must be digital on the e-naira wallet and not on the physical notes.

B) Create a dollar, pounds, euro wallet account . (At least the major currency Nigerians are mostly using) inside the E-naira platform where people can conveniently move monies from their enaira account at the approved exchange rate and converted to all currency wallets. They can as well convert it back to naira wallet any time as needed.

C) Major importers will have to registered with the CBN and ensure they are truly importers and have their limit increases base on their import capacity. No physical dollar will be giving but digital dollars on their e-naire. Also encourage foreign merchants especially the Chinese to open an enaira wallet for easier transactions. Cbn will need to promote and sell the enaire idea to Chinese merchants.

D) mini importers and others can make purchases online with the enaira dollar mastercards at a minimum limit of 5k or 10k usd a year.

E) flight tickets booking should be done via enaira master cards.

F) school fees or others sending money abroad can use the same enaira cards or crypto currency as it already been done.

In summary.......?

Bullfallo:
How CBN can tackle raising inflation and bring down usd 1$ back to N200 or N500 at most.

1, For Nigerians travelers ( that needs physical cash BTA)
Asign personnel to Exchange fx directly from the Airport only with requirements like visa and traveling ticket evidence.

2, most of the Exchange fx can as well be gotten from the returning at the airport from those who might want to change their fx.

3. A) all Nigerians that needs foreign currency most open an E-naira accounts. Confiscate and mop up all physical foreign currency trading in the market and issue them the digital currency wallet via the e-naira. They can hoard limited fx if they like but it must be the digital on the e-naira wallet and not on the physical notes.

B) Create a dollar, pounds, euro wallet account . (At least the major currency Nigerians are mostly using) inside the E-naira platform where people can conveniently move monies from there enaira account at the approved exchange rate converted to all currency wallets. They can as well convert it back to naira wallet any time as needed.

C) Major importers will have to registered with the CBN and ensure they are truly importers and have their limit increases base on their import capacity. No physical dollar will be giving but digital dollars on their e-naire. Also encourage foreign merchants especially the Chinese to open an enaira wallet for easy transactions. Cbn will need to promote and sell the enaire idea to Chinese merchants.

D) mini importers and others can make purchases online with the enaira dollar mastercards at a minimum limit of 5k or 10k usd a year.

E) flight tickets booking should be done via enaira master cards.

F) school fees or those sending money abroad can use the same enaira cards or crypto currency as it already been done.

Who is giving dollars to the Aboki in the black market.is it not our politicians.

coputa:
Who is giving dollars to the Aboki in the black market.is it not our politicians.

Are you a politician? Quite obvious you never change dollars for Nigeria before.

favor914:
Are you a politician? Quite obvious you never change dollars for Nigeria before.

There's no dollar in the bank but you can find them with the Aboki in the black market

Who gives the Aboki the scarce dollars

coputa:
There's no dollar in the bank but you can find them with the Aboki in the black market

Who gives the Aboki the scarce dollars

I have never changed my euros inflow in the bank, I guess you can tag me a politician also?

Even the time I changed in GTbank, Na the bank teller over the counter call the Aboki for me.

favor914:
I have never changed by euro inflow in the bank, I guess you can tag me a politician also?

You've not answered my question;who gives foreign currencies to the Aboki in Hausa quarters

coputa:
You've not answered my question;who gives foreign currencies to the Aboki in Hausa quarters

Ordinary everyday people like myself that get higher value @ the black market for their forex than the bank exchange rate.

It is a matter of choice, people like yourself that don’t make foreign exchange will not understand.

favor914:
Ordinary people like myself that get higher value @ the black market for their forex than the bank exchange rate.

It is a matter of choice, people like yourself that don’t make foreign exchange will not understand.

the demand for dollars far outweigh that of the naira you went to exchange at the black market.

Where did Aboki gets the millions of dollars they sell to importers, certainly not from the 100 dollar you went to exchange for the naira

coputa:
the demand for dollars far outweigh that of the naira you went to exchange at the black market.

Where did Aboki gets the millions of dollars they sell to importers, certainly not from the 100 dollar you went to exchange for the naira

2,000 people change a 100 dollars, that is 2 million US dollars, no too vex if you no get forex to change.

You go still wan blame person for your own shortcomings?

favor914:
2,000 people change a 100 dollars, that is 2 million US dollars, no too vex if you no get forex to change.

You go still wan blame person for your own shortcomings?

It's impossible because dollars is scarce,banks abroad doesn't send their currencies to you here in Nigeria,they send naira equivalent with the prevailing exchange rates through Nigeria banks.

coputa:
It's impossible because dollars is scarce, banks abroad doesn't send their currencies to you here in Nigeria,they send naira equivalent with the prevailing exchange rates through Nigeria banks.

Like I told you earlier, person like yourself wey never change forex before for Nigeria, should not indulge in issues you know nothing about.

Stop exhibiting your ignorance with pride.

All you have proposed is suggestive that there is too much dollar hoarding and trading ongoing within Nigeria, that the government ought not to allow.

That is my only disillusionment with the Nigerian government. The Tinubu regime is not biting enough.

Stop barking and start biting.

favor914:
Like I told you earlier, person like yourself wey never change forex before for Nigeria, should not indulge in issues you know nothing about.

Stop exhibiting your ignorance with pride.

Stop bragging because you went to exchange few dollars they sent to you

I am an industrialist,I source for dollars every now and then, you change dollars to naira and I buy dollars with naira

coputa:
Stop bragging because you went to exchange few dollars they sent to you

I am an industrialist,I source for dollars every now and then, you change dollars to naira and I buy dollars with naira

Source dollars from the same Aboki dominated black market that you are lamenting about, or where are you sourcing the Benjamin Franklins from?

You guys don’t get it. Nigeria problem is not about the law itself, it is about people gaming the system and bending the laws.

If you like only give dollar inside the airplane, people will still game the system.

The only solution is to tell everyone with $$ in the country to bring it to the banking system and declare a law that will give some special commando the right to burst into houses and confiscate any $$ beyond some certain amount outside the banking system.

If you catch any official taking bribes to let people off, order shoot at sight. Any BDC agent caught with $$, confiscate it. Scrutinize every damn import into the country and make sure no one can smuggle in dollar and keep outside the banking system.

Nigeria problem is not about book economics alone, what is obtainable in this country will definitely ground America if same were obtainable there. How can people hoard millions of $$ cash outside the banking system and the government don’t bite.

Salewa97:
You guys don’t get it. Nigeria problem is not about the law itself, it is about people gaming the system and bending the laws.

If you like only give dollar inside the airplane, people will still game the system.

The only solution is to tell everyone with $$ in the country to bring it to the banking system and declare a law that will give some special commando the right to burst into houses and confiscate any $$ beyond some certain amount outside the banking system.

If you catch any official taking bribes to let people off, order shoot at sight. Any BDC caught with $$, confiscate it. Scrutinize every damn import into the country and make sure no one can smuggle in dollar and keep outside the banking system.

Nigeria problem is not about book economics alone, what is obtainable in this country will definitely ground America if same were obtainable there. How can people hoard millions of $$ cash outside the banking system and the government don’t bite.

You just want the Banks & their owners to get richer with this kind of policy.

They will collect your dollars during the day, & go and sell it @ the black market at night.

blacknp:
Source dollars from the same Aboki dominated black market you are lamenting about, or where are you sourcing the Benjamin Franklins from?

You are confused or maybe you have comprehension issues.

I said government officials are doing round tripping with the dollar they collect from the government at the official rates and send to Aboki in the streets,

coputa:
You are confused or maybe you have comprehension issues.

I said government officials are doing round tripping with the dollar they collect from the government at the official rates and send to Aboki in the streets,

🌽 fused Agbadorian industrialist, please point to your post where you claimed government officials are doing round tripping?

blacknp:
You just want the Banks & their owners to get richer with this kind of policy.

They will collect your dollars during the day, & go and sell it @ the black market at night.

It's not even possible as it stands in Nigeria right now because Nigeria politicians store their loots in foreign currencies at home

coputa:
It's impossible because dollars is scarce,banks abroad doesn't send their currencies to you here in Nigeria,they send naira equivalent with the prevailing exchange rates through Nigeria banks.

Are you not the same person that typed this ignorant statement?

coputa:
It's not even possible as it stands in Nigeria right now because Nigeria politicians store their loots in foreign currencies at home

It is this kind of person that calls himself an industrialist making this kind of myopic nonsense statement?

If I keep a million United States dollars @ home, best believe I have 17 million US dollars in my domicillary account.

blacknp:
It is this kind of person that calls himself an industrialist making this kind of myopic nonsense statement?

your brain power and intelligent quotient is far below average,

it would have been better to just read comments and maintain your sanity than to comment and expose your stupidity in the public domain

favor914:
2,000 people change a 100 dollars, that is 2 million US dollars, no too vex if you no get forex to change.

You go still wan blame person for your own shortcomings?

200,000 though not 2million, but I get the point you are trying to make.

coputa:
your brain power and intelligent quotient is far below average,

it would have been better to just read comments and maintain your sanity than to comment an expose your stupidity in the public domain

coputa:
It's impossible because dollars is scarce,banks abroad doesn't send their currencies to you here in Nigeria,they send naira equivalent with the prevailing exchange rates through Nigeria banks.

blacknp:
Are you not the same person that typed this ignorant statement?

prove me wrong and clear my doubt that you are not a daft

All these are jargons tell tinubu to restore naira back to normal, he knows the right things to do. Since i knew the pounds it always been the most valued currency. Wetin happen do these pink people think we are fools

blacknp:
You just want the Banks & their owners to get richer with this kind of policy.

They will collect your dollars during the day, & go and sell it @ the black market at night.

How will they sell at black market when black market is declared terrorism and unlawful?

Both person patronizing black market and the black marketer themselves will be arrested, all money confiscated, and them jailed.

Then you go ahead to arrest the bank agent sending money to them and wait for the next person they’ll do nonsense too.

Salewa97:


How will they sell at black market when black market is declared terrorism and unlawful?

Both person patronizing black market and the black marketer themselves will be arrested, all money confiscated, and them jailed.

Then you go ahead to arrest the bank agent sending money to them and wait for the next person they’ll do nonsense too.

Everything so nice when I’m dreaming in a faint hallucination, mixed up in a misconstrued imagination.

Na definitely poor NLC minimum wage salary earner they reason like this, you will arrest the Bankers & the black marketeers also?

Who will arrest the black marketeers for you, same EFCC way Hausa Fulani dominate?

Who will arrest the bank owners, same yorubas way they control The CBN, & The Money depositor banks?

Femi Otedola is the new Chairman of First Bank PLC, you will send who to go & arrest him?

Mr. Ola Olukoyede the Executive Chairman of the Economic and Financial Crimes Commission, EFCC, or Mr. Olayemi Cardoso the Governor of the Central Bank of Nigeria?

The government needs to go in hard on those, including banks, who game the fx market.

Huge fines for any bank found gaming the market. After a number of infractions, say 3, the board of that bank is forced to resign enmasse.

Enact such regulation, and watch the banks straighten up at once.

Some of the Op's points centred around E-naira are also worth investigating.

with the way this tinubu govt is going about their dealings , it seems he is just out to nail the coffin on the nation called Nigeria .