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Nairaland Forum / Nairaland / General / Business / Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe (17574 Views)
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Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by 989900: 6:42pm On Oct 07, 2016 |
Alhaji Aminu Gwadabe, President, Association of Bureau de Change Operators of Nigeria (ABCON), on Friday said it was illegal for his members to sell a dollar above N356. Gwadabe made the disclosure in an interview with the News Agency of Nigeria (NAN) in Lagos. He said that the sale of dollar by Travelex to BDCs was already impacting positively on the market as the Naira had sustained gains at the major segments of the foreign exchange market. He said that as at 4 p.m. on Friday, Travelex had sold 15, 000 dollars each to no fewer than 1,000 BDCs and that the sale was ongoing, adding that “last week, it sold 10,000 dollars each to about 850 BDCs. “Any BDCs selling above N356 to a dollar is an infraction on our agreement and should be reported to the association or law enforcement agents for appropriate sanctions.’’ Gwadabe said that to ensure transparency in dollar sales, ABCON had advised their customers to ensure that the rate at which they bought foreign exchange was stamped on their travelling document. NAN reports that since the resumption in the sale of foreign currencies by Travelex, a licensed International Money Transfer Organisation (IMTO), the naira had been on a path of recovery. The currency had been appreciating at the three major segments of the foreign exchange market, a development that has raised the hope of many Nigerians. http://www.vanguardngr.com/2016/10/selling-dollar-n356-parallel-market-illegal-gwadabe/ 2 Likes 1 Share |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by bluaero(m): 6:44pm On Oct 07, 2016 |
Tell us another story 42 Likes |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by bigtt76(f): 6:49pm On Oct 07, 2016 |
23 Likes 1 Share |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by dav8id(m): 6:58pm On Oct 07, 2016 |
So the man mean, his ready to sell at #366/$ abi |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by 989900: 8:28pm On Oct 07, 2016 |
dav8id: Only time will tell . . . 1 Like |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by FreeWorld23: 8:43pm On Oct 07, 2016 |
Iro n paro fun iro 5 Likes |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by emeka2847: 6:42am On Oct 08, 2016 |
Rubbish 13 Likes |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by trishapal(f): 6:43am On Oct 08, 2016 |
Just the same way Lagos State government said it's illegal for Landlords to demand for 2 years rent. Such provisions can never hold any water. 31 Likes 1 Share |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by mostyg(m): 6:44am On Oct 08, 2016 |
market dictates price 15 Likes |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by bobo65(m): 6:44am On Oct 08, 2016 |
Pls let this be true Well this is Naija, sum bastardz will just buy everything up and start hoarding Enemies of progress dem, I dunno y God made them rich 2 Likes |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Achorise: 6:44am On Oct 08, 2016 |
Buyer and seller are in business to make gain, shikinar. |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by kareem492(m): 6:44am On Oct 08, 2016 |
thieves 1 Like |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by africanjink(m): 6:45am On Oct 08, 2016 |
Wetn a wn tk dollar buy at ketu market? 1 Like |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Darejyde(m): 6:45am On Oct 08, 2016 |
Come Ipaja gate come tell them... 1 Like |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Ekakamba: 6:45am On Oct 08, 2016 |
After reporting then what? Media houses prosecution I guess. Mtcheeeew! 989900: 2 Likes |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by jhydebaba(m): 6:45am On Oct 08, 2016 |
We Nigerians are our own problem. 7 Likes |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by 9jaBloke: 6:45am On Oct 08, 2016 |
Good directive! I hope it can be enforced. We really must stop depending too much on the dollar or any foreign currency. 2 Likes |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by modath(f): 6:45am On Oct 08, 2016 |
989900: Don't hold your breath.... Naira full safes and as an economist, a nor need to preach demand, supply , price and lack of control/rules to you again.. Good morning. 5 Likes |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Nobody: 6:45am On Oct 08, 2016 |
thank God those hoarding it will flood the market. and the economy will restart. |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by SamuelAnyawu(m): 6:45am On Oct 08, 2016 |
Corruption Everywhere 1 Like |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by erico2k2(m): 6:47am On Oct 08, 2016 |
Now we know the real Enemies of Nigeria 3 Likes |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Clone2020(m): 6:47am On Oct 08, 2016 |
If you want to send money to relatives in Nigeria, I will buy your dollars at the rate of N400/$ while you deposit into my US bank account. Don't even bother with western union and co, they exchange for 330/$ plus fees and delays. All transactions are done within 1 minute. Call or whatsapp, see contact in signature 1 Like |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Histrings08(m): 6:48am On Oct 08, 2016 |
I'm not understanding, lemme read the epistle first |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by prestige24: 6:50am On Oct 08, 2016 |
[size=13pt]Illegal? Under which law? This is super story...... Remember that song? What's the next story?[/size] 6 Likes |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by namuguibe(m): 6:50am On Oct 08, 2016 |
I'm sure na him de sell pass others for 400+ 3 Likes |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by izzy4shizzy(m): 6:50am On Oct 08, 2016 |
Make him leave matter for Mathias, the real oga's dem go sell how they like and nothing like dis go happen, na to the make noise here make we hail dem, dem sabi Mtcheew I d go back to sleep sef 2 Likes |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Badgers14: 6:52am On Oct 08, 2016 |
Rubbish 2 Likes 1 Share |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Mbcastrol(m): 6:53am On Oct 08, 2016 |
Wetin concern person, make the thing reach 500 already.. |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by BUHARIISCURSED(m): 6:54am On Oct 08, 2016 |
989900:who sold Wailer's form to this dude, that person should be castratated 6 Likes |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by Pavore9: 6:56am On Oct 08, 2016 |
Which illegal?........If l hear! 1 Like |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by BUHARIISCURSED(m): 6:56am On Oct 08, 2016 |
modath:what is this man saying ? 6 Likes |
Re: Selling Dollar Above N356 In Parallel Market Illegal – Gwadabe by tonio2wo: 6:56am On Oct 08, 2016 |
When banks charge above 400? This man is loco. 14 Likes |
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