Nigerian Banks Are Now Solely Dependent On Black Market.. - Business - Nairaland
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| Nigerian Banks Are Now Solely Dependent On Black Market.. by anigold(m): 2:29pm On Dec 22, 2015 |
I just noticed that Nigerian banks are now using black market rate to exchange dollars,thanks to the visionary leadership of the CBN. I made a payment of $100 using paypal which is linked directly to my account. and I noticed instead of N20,000 to be deducted from my account,N27200 was deducted.. meaning that the exchange rate was N272 instead of N200.. $100 is not much,but I intend to spend a couple of thousands this week.. this is wonderful... APC WELL DONE.. was this the change you promised... Its pitiful that banks now have to solely rely on black market... Am really trying to understand the positive implications of blocking foreign currency when 90% of our consumables are imported.. Can any super learner economist educate me.. Because I make a living predicting the direction of foreign currency markets... |
| Re: Nigerian Banks Are Now Solely Dependent On Black Market.. by mankand(m): 2:32pm On Dec 22, 2015 |
Which bank please? |
| Re: Nigerian Banks Are Now Solely Dependent On Black Market.. by anigold(m): 3:17pm On Dec 22, 2015 |
Gtb mankand: |
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