cooldood:
The actual fact is there's nothing of such like surplus dollars in the Nigerian market. What you see happening is what we advised CBN to do-provide forex for the retail end of the market and the perception will improve- which is why people now think there's surplus. There's actually still not enough forex in the market to meet the demand, businesses and manufacturers still cannot have access to their dollar needs to meet different obligations. What the CBN is currently doing is to try and meet up with some backlogs of applications for forex way back 2015/2016.

I am privileged to have access to this information by the virtue of my position. Foreign investors are still waiting on the fence for an official devaluation to about 360# to a dollar.

You'd also notice our external reserves is fast depleting, no thanks to crude oil price tanking in the past few weeks.

We have also not resolved our energy issues with regards to the pricing, when we do, another round of crazy inflation will kick in.

It's not all doom n gloom though for 9ja, as high base effect means steady inflation in 2017, lets hope the price of crude oil stabilizes at 50 bucks per barrel, and Militants remain calm, otherwise, 2017 will hardly be different from 2016.

Now its official, Naira has been devalued to #360.