Technology Economy General

DOMICILIARY ACCOUNTS AND THE ILLUSION OF “DOLLAR SAVINGS” IN NIGERIA

By Paul Chimodo For many Nigerians, a domiciliary account is seen as the safest way to “save in dollars” and protect earnings from naira depreciation. But beneath the surface of that belief lies a more complicated financial reality that continues to frustrate savers in 2026. A domiciliary account is a foreign currency account offered by

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