₦airaland Forum

phineas:
We have lots of acts to address that, sebi the owner of the site is Nigerian?

FreeIgboho:
Is this below not 570? Is it AbokiFx?

danowena:
Most of these sites u see refer to Abokifx; I say this because for years I was looking for quotes that will either Cavour me when buying or when I am selling. I believe they source from abokifx which is why you will never see any differences in the quotes. They are unified in what is quoted which shouldn’t be if they were really getting proper data independently. They can’t all be getting exact same data Unless their data source is exactly same which is very improbable. Even the banks that CBN give rates do not quote same exchange rates. You should also know that most of these sites will typically not have agents in the markets who gives them quite independently.

phineas:
You guys know nothing about naija parallel market, it's a cartel.a well controlled one.Some persons are rumoured to sometimes buy all the dollar available on the streets at a certain period to deliberately create scarcity.

At such times to get ordinary 2000 dollars you have to book ahead with aboki who starts looking for dollar for you in bits and pieces.

Imagine companies who need to complete transactions worth millions at a time like that,any action to cut off the parallel market is long overdue.cut of the head first,then the creative means to survive without it will evolve over time

profmallor:
Sincerely, most Nigerians want the rates to go down, why not, we are all suffering from this spikes. Even the purchasing power of those that remit from diaspora has dropped, is it the cost of building materials or services you want to speak on. All have increased in recent times. ever since this CBN decided to ban crypto trading, which was reducing the pressure on the Naira, they lost the good will of many Nigerians. So unless the cost of a barrel of crude suddenly jumps and output goes back to pre COVID times there is naturally no way the Naira can appreciate. The current CBN leadership is so eager to please their master so they ve thrown all knowledge of running an economy to the winds.