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Nigeria

Nigeria Forum/News

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Senate proposes foreign currency ban for local transactions

punchng.com/senate...

submitted over 1 year ago by uzong

Senate proposes foreign currency ban for local transactions

submitted over 1 year ago by uzong

Senate proposes foreign currency ban for local transactions
  • The Senate in Nigeria is considering a bill to ban the use of foreign currencies for payments and transactions within the country, aiming to strengthen the local currency, the naira.
  • The bill, sponsored by Senator Ned Nwoko, seeks to ensure that all payments, including salaries and exports, are conducted in naira to boost confidence in the local economy and eliminate discriminatory practices.
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