989900:
Alhaji Aminu Gwadabe, President, Association of Bureau de Change Operators of Nigeria (ABCON), on Friday said it was illegal for his members to sell a dollar above N356.

Gwadabe made the disclosure in an interview with the News Agency of Nigeria (NAN) in Lagos.

He said that the sale of dollar by Travelex to BDCs was already impacting positively on the market as the Naira had sustained gains at the major segments of the foreign exchange market.

He said that as at 4 p.m. on Friday, Travelex had sold 15, 000 dollars each to no fewer than 1,000 BDCs and that the sale was ongoing, adding that “last week, it sold 10,000 dollars each to about 850 BDCs.

“Any BDCs selling above N356 to a dollar is an infraction on our agreement and should be reported to the association or law enforcement agents for appropriate sanctions.’’

Gwadabe said that to ensure transparency in dollar sales, ABCON had advised their customers to ensure that the rate at which they bought foreign exchange was stamped on their travelling document.

NAN reports that since the resumption in the sale of foreign currencies by Travelex, a licensed International Money Transfer Organisation (IMTO), the naira had been on a path of recovery.

The currency had been appreciating at the three major segments of the foreign exchange market, a development that has raised the hope of many Nigerians.



Did I hear you say this man is the leader of association of drunks in Nigeria?
Otherwise why would he be writing this uninformed piece? For misleading the public he should be arrested. Folks like this will ruin Buhari s government .

http://www.vanguardngr.com/2016/10/selling-dollar-n356-parallel-market-illegal-gwadabe/

BUHARIISCURSED:

[s]who sold Wailer's form to this dude, that person should be castratated[/s]

bobo65:
Pls let this be true

Well this is Naija, sum bastardz will just buy everything up and start hoarding

Enemies of progress dem, I dunno y God made them rich

989900:
Alhaji Aminu Gwadabe, President, Association of Bureau de Change Operators of Nigeria (ABCON), on Friday said it was illegal for his members to sell a dollar above N356.

Gwadabe made the disclosure in an interview with the News Agency of Nigeria (NAN) in Lagos.

He said that the sale of dollar by Travelex to BDCs was already impacting positively on the market as the Naira had sustained gains at the major segments of the foreign exchange market.

He said that as at 4 p.m. on Friday, Travelex had sold 15, 000 dollars each to no fewer than 1,000 BDCs and that the sale was ongoing, adding that “last week, it sold 10,000 dollars each to about 850 BDCs.

“Any BDCs selling above N356 to a dollar is an infraction on our agreement and should be reported to the association or law enforcement agents for appropriate sanctions.’’

Gwadabe said that to ensure transparency in dollar sales, ABCON had advised their customers to ensure that the rate at which they bought foreign exchange was stamped on their travelling document.

NAN reports that since the resumption in the sale of foreign currencies by Travelex, a licensed International Money Transfer Organisation (IMTO), the naira had been on a path of recovery.

The currency had been appreciating at the three major segments of the foreign exchange market, a development that has raised the hope of many Nigerians.

http://www.vanguardngr.com/2016/10/selling-dollar-n356-parallel-market-illegal-gwadabe/

BUHARIISCURSED:

what is this man saying ?

989900:
Alhaji Aminu Gwadabe, President, Association of Bureau de Change Operators of Nigeria (ABCON), on Friday said it was illegal for his members to sell a dollar above N356.

Gwadabe made the disclosure in an interview with the News Agency of Nigeria (NAN) in Lagos.

He said that the sale of dollar by Travelex to BDCs was already impacting positively on the market as the Naira had sustained gains at the major segments of the foreign exchange market.

He said that as at 4 p.m. on Friday, Travelex had sold 15, 000 dollars each to no fewer than 1,000 BDCs and that the sale was ongoing, adding that “last week, it sold 10,000 dollars each to about 850 BDCs.

“Any BDCs selling above N356 to a dollar is an infraction on our agreement and should be reported to the association or law enforcement agents for appropriate sanctions.’’

Gwadabe said that to ensure transparency in dollar sales, ABCON had advised their customers to ensure that the rate at which they bought foreign exchange was stamped on their travelling document.

NAN reports that since the resumption in the sale of foreign currencies by Travelex, a licensed International Money Transfer Organisation (IMTO), the naira had been on a path of recovery.

The currency had been appreciating at the three major segments of the foreign exchange market, a development that has raised the hope of many Nigerians.

http://www.vanguardngr.com/2016/10/selling-dollar-n356-parallel-market-illegal-gwadabe/

989900:
Alhaji Aminu Gwadabe, President, Association of Bureau de Change Operators of Nigeria (ABCON), on Friday said it was illegal for his members to sell a dollar above N356.

Gwadabe made the disclosure in an interview with the News Agency of Nigeria (NAN) in Lagos.

He said that the sale of dollar by Travelex to BDCs was already impacting positively on the market as the Naira had sustained gains at the major segments of the foreign exchange market.

He said that as at 4 p.m. on Friday, Travelex had sold 15, 000 dollars each to no fewer than 1,000 BDCs and that the sale was ongoing, adding that “last week, it sold 10,000 dollars each to about 850 BDCs.

“Any BDCs selling above N356 to a dollar is an infraction on our agreement and should be reported to the association or law enforcement agents for appropriate sanctions.’’

Gwadabe said that to ensure transparency in dollar sales, ABCON had advised their customers to ensure that the rate at which they bought foreign exchange was stamped on their travelling document.

NAN reports that since the resumption in the sale of foreign currencies by Travelex, a licensed International Money Transfer Organisation (IMTO), the naira had been on a path of recovery.

The currency had been appreciating at the three major segments of the foreign exchange market, a development that has raised the hope of many Nigerians.

http://www.vanguardngr.com/2016/10/selling-dollar-n356-parallel-market-illegal-gwadabe/

trishapal:
Just the same way Lagos State government said it's illegal for Landlords to demand for 2 years rent. Such provisions can never hold any water.

MrTour:
Nigerians and dollar !!!

I asked a girl who sells sugarcane "How much is your sugarcane", she said its now N150. I was like haba its N100 I usually buy. She said dollar has gone up.

I was shocked, what is the relationship between a locally made fruit and dollar. As much as people may try to defend the seller in terms of using imported fertilizer. The truth is that an average Nigerian who sell goods or services will extort you due to the dwindling nature of the economy.

Clone2020:
If you want to send money to relatives in Nigeria, I will buy your dollars at the rate of N400/$ while you deposit into my US bank account. Don't even bother with western union and co, they exchange for 330/$ plus fees and delays.

All transactions are done within 1 minute.


Call or whatsapp, see contact in signature

Miles300:
This is one area the govt and Cbn has been over looking , if banks buys dollar at the interbank fx at 310 or there about wats the rationale behind it selling to customers at 400 .. That's corruption in it's self . Which govt sit back nd watch banks make massive profit from customers ...? Accept the govt Has a hand in it... Banks should be regulated that's why we av the Cbn in the first place

exceltech:


The CBN is not ignorant of this practise, I think there is a silent
agreement between banks and CBN on the rate the banks could
sell.
If Banks can charge #420/dollar for online transactions , it is impossible that BDCs
will sell dollar cash for #356.