Gentlemen, the CBN official rate for exchange of dollar has for a long time stood at N199.50k per dollar. In this regard you would observe that if you receive dollar payment from a client abroad, what you will see in your Nigerian bank account will be the naira equivalent of the Central Bank's exchange rate of N199.50k. However, if you are to purchase something abroad from your bank in Nigeria here, they will charge you a whooping N320 per Dollar which actually is a black market price. If you remove N199.50k from N320, a given bank will be making a whooping N120.50k from just one single dollar. Then multiply this by how many millions and billions of dollars going in and out of this year country. I don't know who is with me on this kind of experience, pls every body kindly share your experiences in this regard with us, let's talk about it.

Please has anybody been paid in dollar and received payment in Naira? Pls share with me, I just wanna know