The price of dollar remains the official cbn price for qualified bonafide transactions. U can apply for USD and other foreign currencies legally via CBN. Any other way, d sale of dollar or its purchase is prohibited by law. So black outlawed market rates can be as high as N1000 for those interested in breaking the law. How can we be apprehensive about the price of a commodity whose market had been outlawed. No more black market.

Last time I checked a lot of importable scarce items are still on that list of CBN Forex availability. Why don't you folks concentrate on how to legally trade within d ambits of the law than start ranting about imperfections in an outlawed set up. The rate a dollar trades is still the responsibility of the Apex bank and is still at d same N198/$. The rate a dollar is sold in the illegal black market today is unquantifiable because this scarce commodity is no longer supported by injections of funds at weekly intervals called interventions........

The BDCs just got sacked and their N17bn caution deposit given back to them. The message here is simple: No more callous trade on the Forex market. No more availability of Forex to buy junks abroad. No more funds to buy stuff we can produce locally abroad. No more funds to send corrupt loots abroad. No more subsidized funds to service luxuries driven by greed and vanity upon vanity.

The consequence of this strangulation and scarcity of the dollar is first and foremost the stimulation of exports. We would also be forced to buy our own made in Nigeria goods. This would lead to prosperity because we will be making Nigerian entrepreneurs rich in Nigeria. Kudos to the FGN for starting d new project called "500 export startups". Kudos again to the FGN for all the support in agricultural production.

Now it is left to us to embrace this Change for real!!!!!


Bash Adam

When you apply, will you get it?