Central Bank Governor Mr. Godwin Emefiele has said over $20billion is idle in domiciliary account of private individuals at a time when the country is facing foreign exchange crisis.
Emefiele’s comment was made at a session of the joint committee on appropriation of the National Assembly yesterday.
Represented by the Deputy Governor in charge of Financial System Surveillance, Mr. Joseph Nnanna, Emefiele said keeping the huge volume of dollars idle had compounded the forex crisis confronting the country.
“As I’m talking to you, $20billion is in various domiciliary accounts of individuals. Naira is our currency, why are they keeping the foreign currency? From my experience in the international finance, I have never seen a country where its nationals speculate on its currency,” he said.
Dailytrust.com.ng cullage.
So what should they do with their dollars?Sell it?
Hmmmmmmmm.
ReplyDeleteOga CBN, "tactically" leave our currencies alone oooo
DeleteDon't banks collect charges on dose account?
This is an end time deliberation.
Is it his idle?
ReplyDeleteIf I have such in my account, no way I'm touching it.
With everything happening now.
Plus, i'm sure a good percentage, are savings for the owners' generation.
#WhiteDiamondOut
Saw this in the dailies this morning... But is it actually idle? Some big shots are using your monies to fund their businesses. If you save a lot of money in your bank accts and the banks pay you change, calling it interests, abeg think well. If you know how much the bank collects from your saved-up sweats, you go vex, withdraw every thing. Thieves lot...
DeleteNa waah
ReplyDeleteIt is well
ReplyDeleteUse it to buy things abroad
ReplyDeleteAnd they opened their smelling mouth and told Nigerians that GEJ left empty treasury
ReplyDeleteWhat's this one saying, It's like when u read u don't understand what u read, y not just shut up?
DeleteAhahahah
DeleteWhat's your suggestion CBN?
ReplyDeleteEnd time scary naira
ReplyDeleteCopy cat @natt
DeleteNow they're eyeing people's forex. This cbn governor is totally clueless! You refuse to sell dollars to me, I go out and source my dollars both within and without and you are beefing me, what is it?? Foolish clueless cbn
ReplyDeleteLol
DeleteNa real idle..... Wasting away
ReplyDeletesell it on olx. everything is sellable
ReplyDeleteI'm not in support of the said speculation but the question is how do they know..the way this government operates, they just obtain information without due process
ReplyDeleteWe are a crazy nation.Where else in the world do people have dom accounts?
ReplyDeleteDomiciliary account is in most countries.
DeleteEspecially import and export based countries..
Don't be ignorant
Besides what is the cbn business with people's money?? Is it your money?? Why shouldn't people have money in their account for future purpose??
What about business men who are based on exportation of one thing or the other whose mode of payment is via dollars..?? Shouldn't they keep their money again
Clueless man
My point exactly
DeleteEsp those who are paying school fees abroad or have international market relations once a while. I don't see the problem the CBN is trying to create here
DeleteThis goat keeps on digging his grave...now he's eyeing people's forex. First it was charges on withdrawal of forex, the gamble failed and he removed the charges, now it's focusing on the status of forex in people's accounts. Abeg it's time to pull out this clueless idiot before he pulls down the economy finally
ReplyDeleteThe youths come here to abuse everybody left,right centre but close their eyes & ears,as a few blokes ruin this country.
ReplyDeleteSharap and gerarahia. Why should u be giving only Dangote dollars?
ReplyDelete@BelieveAll Outreach. Stop exposing your illiteracy. They said individual's account not governmet account. Education is free till secondary level in most states
ReplyDeleteIt is well ooo
ReplyDeleteSo many Nigerians do not understand monetary policy or even the meaning of speculators. Why would people of same country shore up huge anounts of foreign currency to intentionally devalue naira so they can double or triple their money. Its sad. People are all here to curse people not even understanding what monetary policy is
ReplyDeleteSo many Nigerians do not understand monetary policy or even the meaning of speculators. Why would people of same country shore up huge anounts of foreign currency to intentionally devalue naira so they can double or triple their money. Its sad. People are all here to curse people not even understanding what monetary policy is
ReplyDelete@BelieveAll Outreach, let me add to the insult someone had earlier given you. You better utilise your free time going back to write and pass GCE O Level. Such a senseless and incoherent feedback comment! You just can't comprehend simple issues. Please only comment on gossips reeled out by Stella, and not on intellectual discourse. Idiotic Jonathan disciple!
ReplyDelete@BelieveAll Outreach, let me add to the insult someone had earlier given you. You better utilise your free time going back to write and pass GCE O Level. Such a senseless and incoherent feedback comment! You just can't comprehend simple issues. Please only comment on gossips reeled out by Stella, and not on intellectual discourse. Idiotic Jonathan disciple!
ReplyDelete