CBN Should Sanction Nigerian Banks For Ridiculous Gain From Exchange Rate - Business - Nairaland
Nairaland Forum / Nairaland / General / Business / CBN Should Sanction Nigerian Banks For Ridiculous Gain From Exchange Rate (488 Views)
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| CBN Should Sanction Nigerian Banks For Ridiculous Gain From Exchange Rate by isobel: 1:59am On Feb 24, 2016 |
I received money through Western Union with my GTBank account at N189.92 to a dollar. Meanwhile the same bank charged N285 per dollar when I withdrew dollars abroad. That is highly ridiculous. buying at 189 and selling at 285  ? This is the reason why some forces keep the exchange rate ridiculously high by hoarding it. The banks have formed a racketeering cartel to rip people off. This is unfortunate. Buhari should spread his anti-corruption haunt to the banks!!! |
| Re: CBN Should Sanction Nigerian Banks For Ridiculous Gain From Exchange Rate by amtaken(f): 2:04am On Feb 24, 2016 |
The Federal Government should put a stop to this asap. |
| Re: CBN Should Sanction Nigerian Banks For Ridiculous Gain From Exchange Rate by alexory23(m): 2:07am On Feb 24, 2016 |
Imagine  Imagine |
| Re: CBN Should Sanction Nigerian Banks For Ridiculous Gain From Exchange Rate by Strahovski1(m): 2:56am On Feb 24, 2016 |
You cannot blame the banks |
| Re: CBN Should Sanction Nigerian Banks For Ridiculous Gain From Exchange Rate by Truth234(m): 5:40am On Feb 24, 2016 |
Strahovski1: How do you mean? Banks get dollar at interbank market for 199/$, why selling it 285 and buying it 189.92/$? |
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