As one of the measures to save the Naira, Group Managing Director and Chief Executive Officer (CEO) of the CFL Group of Companies Lai Omotola has urged President Bola Tinubu to sign an executive order prohibiting all cash dollar transactions throughout Nigeria.
According to Newsmen, the president should make sure that all dollar transactions are now bank to bank, according to Omotola, who gave reporters a briefing on the status of the country's economy and the value of the naira in Maryland, Lagos on Friday.
In addition to proposing a complete ban on the sale of dollars on the street, he suggested that the maximum amount of cash that any foreigner or citizen in Nigeria could possess be $100, and that any amount over that would automatically be forfeited to the federal government.
"To save our Naira," he said. Our proposal is for the President to issue an executive order that prohibits any cash-to-dollar transactions throughout the entirety of Nigeria. Now, all dollar transactions ought to be made bank to bank.
"Neither citizens nor foreign nationals should be allowed to possess more than $100 in cash at any one time. Over this amount, the Federal Government will automatically receive any forfeited funds. The street sale of currency ought to be outlawed completely. ".
Dear esteemed readers what are your opinions concerning this?
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