Concerns As One Pound Trades For ₦‎1000 At Parallel Market - Business

Concerns As One Pound Trades For ₦‎1000 At Parallel Market - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Concerns As One Pound Trades For ₦‎1000 At Parallel Market (17302 Views)

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Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Deltafirstson(op): 8:32pm On Nov 06, 2022

The sharp fall of the naira against the foreign currencies continues this weekend with the British Pound crossing N1000 in the parallel market.

There are fears that the dollar which has also been on a steep rise in value against the naira may cross N1000 any moment from now.

The current black market rate which is though not recognised by the Central Bank of Nigeria (CBN) has now almost doubled the official rate, thereby widening the disparity and putting more pressure on businesses.

The Economic and Financial Crimes Commission (EFCC) had last week raided some bureau de change (BDC) operators in Lagos, Abuja and Kano in a bid to tackle the rising exchange rate but this has not stopped the naira depreciation.

Many Nigerians have taken to social media as the British Pound was exchanged for N1005 over the weekend.
“One thousand pounds is actually a million naira. The country is going to crash,” wrote a twitter user Salami Azeez.

Many people also described the rate as alarming, warning that the dollar might cross the N1000 line in the next few days going by the naira fall recorded in recent times.

Daily Trust reports that the planned redesign of the naira notes by the Central Bank of Nigeria (CBN) has led to many people rushing to dispose off their local currencies and convert them to foreign currencies.

https://dailytrust.com/breaking-concerns-as-one-pound-trades-for-n1000-at-parallel-market

3 Likes 1 Share

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by another1: 8:34pm On Nov 06, 2022

Is it the change and next level apc promised us?
Now, they have renew hope.

80 Likes 4 Shares

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by EKONGKING: 8:34pm On Nov 06, 2022

Next level change grin

.

what Buhari can not destroy does not exist in the world.

Nigeria is starting to go Venezuela way .

98 Likes 2 Shares

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Jessyjeff: 8:39pm On Nov 06, 2022

It's APC's parting gift to Nigerians.

51 Likes 1 Share

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Okoroawusa: 8:40pm On Nov 06, 2022

If dollar like let it be 5k I will vote for Bola Ahmed Tinubu in February 2023

35 Likes 17 Shares

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Nobody: 8:43pm On Nov 06, 2022*

Okoroawusa:
If dollar like let it be 5k I will vote for Bola Ahmed Tinubu in February 2023

God bless you bro, let the country be on fire who cares, APC must rule the ashes.

It is yaruba turn grin

, we yaruba must rule this country angry

127 Likes 7 Shares

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Nobody: 8:44pm On Nov 06, 2022

Wait till January

Atiku is coming

3 Likes

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by phorget(m): 8:49pm On Nov 06, 2022

Okoroawusa:
If dollar like let it be 5k I will vote for Bola Ahmed Tinubu in February 2023

Nah me you think say you dey do abi?

79 Likes 1 Share

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Bayaar02(m): 8:53pm On Nov 06, 2022

God save us.

2 Likes

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Didijiji: 8:53pm On Nov 06, 2022

SATAN AND ALL DEMONS JOIN HANDS PUNISH APC AND CURSE ALL THEIR SUPPORTERS.

EVIL PARTY

26 Likes 1 Share

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by technuel: 8:53pm On Nov 06, 2022

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by tamdun: 8:53pm On Nov 06, 2022

CBN or aboki exchange rate?

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by ObosiUkwalla: 8:53pm On Nov 06, 2022

Any one or thing seen campaigning for APC should be lynched (with their families too).

Imagine after destroying this country, they still have the temerity to come and still campaign for a Buhari pro max. It's the guts for me

76 Likes 5 Shares

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by pocohantas(f): 8:53pm On Nov 06, 2022

E shock me o.
Buhari is really working. I believe everything would stabilise soon.

This would make it harder for japa crew though. How does one cope with such rate?

12 Likes

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Alwaysready(m): 8:54pm On Nov 06, 2022

Don't you guys know before? We ,the analyst predicted this since June this year when $1=#600

I called family members and friends to go buy usdt or dollar and save in their Dom acct but they taught I was kidding.

Now,listen carefully all Nigerians. There is nothing any Govt can do about this,Dollar will rise pass #1500/$ next Feb,2023.

Our gold reserve has depleted. We mostly depend on import and foreign made goods. China is our main supplier of such goods .

The blackmoney also is not helping anything. See them loading trailers of stech cash all around running to the banks and abokies. They will gnash their teeth very hard.

I learnt some of the politicians are crying hard now. The CBN has limited individual and companies the max amount they can accept from them.

Check my signature let's trade now.

13 Likes

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Austineva2: 8:54pm On Nov 06, 2022

Igba!

. Another prophecy of Mazi Nnamdi Kanu fulfilled. Buhari is a disastrous disaster. Tufia

16 Likes

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by sojayy(m): 8:54pm On Nov 06, 2022

Chaiiiii, Naija is completely finished n finished completely under Buhari

7 Likes 1 Share

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Eriokanmi: 8:54pm On Nov 06, 2022*

Vote apc again and see things
The worst is yet to come. We can avert it by sending them packing next year. They've come up with their fake manifesto once again. If you fall for it,the current situation would be a tip of the iceberg.

We told you guys tinubu isn't fit but you keep padding his health. See the disgrace on the Arise TV tonight ? He's been absent from two important events.

1- The peace pact signing which was even supposed to be more important to him. Gen Abdulsalaam Abubakar who heads the committee, as ailing as he was, attended . He attended even on a walking stick, to describe how important the peace accord was. He just returned from overseas where he went for medical treatment that time. Emilokan disappeared.

2. The Arise TV political debate which had been aired for days was held tonight without Tinubu in attendance.

Aja to ba maa sonu, loro awon urchins...ko ni gbo fere olodę

20 Likes 3 Shares

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Jostoman: 8:54pm On Nov 06, 2022

May God save us in the hands of this wicked and Calamity party called APC. Nigerians are really suffering o.

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Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by CheapHomes1: 8:54pm On Nov 06, 2022

Deltafirstson:
https://dailytrust.com/breaking-concerns-as-one-pound-trades-for-n1000-at-parallel-market

And CBN is busy redesigning a curreency that has no value

10 Likes

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Charismatic107: 8:54pm On Nov 06, 2022

All this nonsense will come to an end come February 2023

2 Likes

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Ibrahimcoomasie: 8:55pm On Nov 06, 2022

"Gobe", Omo see "Gobe"

2 Likes

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Theunbothered: 8:55pm On Nov 06, 2022

Nigerians are clearly not tired of the high cost of living, the pound should reach 2000 first so you people can wake up.

10 Likes

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Curious345: 8:55pm On Nov 06, 2022

Okoroawusa:
If dollar like let it be 5k I will vote for Bola Ahmed Tinubu in February 2023

nice one my sister .. your decision is justified

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by GboyegaD(m): 8:55pm On Nov 06, 2022

This is annoying. Why are we not canceling the parallel market? CBN should please hands off the exchange rate market as the first step.

6 Likes 1 Share

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by pretydiva(f): 8:55pm On Nov 06, 2022

It Is finished

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Nobody: 8:55pm On Nov 06, 2022

Corruption will destroy this country economy

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by chris4gold(m): 8:55pm On Nov 06, 2022

Sai Baba, Buhari for third term grin

1 Like

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Felabrity: 8:56pm On Nov 06, 2022

Buhari and APC have finished Nigeria

11 Likes

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by 2blessed01(m): 8:56pm On Nov 06, 2022

2023 is at hand...
Nigerians be wise...

5 Likes

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Jestin: 8:56pm On Nov 06, 2022

[quote author=Okoroawusa post=118177579]If dollar like let it be 5k I will vote for Bola Ahmed Tinubu in February 2023[/quot

If you go survive am, we too go survive am

1 Like

Re: Concerns As One Pound Trades For ₦‎1000 At Parallel Market by Jummyh: 8:56pm On Nov 06, 2022

Na the performance wey the zamfara APC man just talk now be that...

7 Likes 1 Share

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