The answer is simple, the FG through the CBN is stifling competition and free market activities in the FX market.
First, they refused to clear all fx backlogs, only 'verified ' ones.

Second they made it impossible for bureau de change to serve the needs of large fx demands, mandating all fx needs to be acquired through banks with a $500 cap.

Third they banned binance(as Buhari banned Twitter), tricked and arrested binance executives thereby shutting down the online fx marketplace.

Soon they will start price fixing when inflation goes out of control. When the fx issue goes out of control again the next move will be to ban imports.

Banning banning banning!

Birdbyrde440:
The answer is simple, the FG through the CBN is stifling competition and free market activities in the FX market.
First, they refused to clear all fx backlogs, only 'verified ' ones.

Second they made it impossible for bureau de change to serve the needs of large fx demands, mandating all fx needs to be acquired through banks with a $500 cap.

Third they banned binance(as Buhari banned Twitter), tricked and arrested binance executives thereby shutting down the online fx marketplace.

Soon they will start price fixing when inflation goes out of control. When the fx issue goes out of control again the next move will be to ban imports.

Banning banning banning!

Speculation is a free market activity

Naira loss to dollar, una dey shout

Naira regaining strength, una still dey teeth gnashing.

What caused the dollar high rate if not scarcity. So if those who are hoarding the dollars ( BDC, Binance, Terrorists sponsor) have now been exposed, logically there supposed to be more dollars in circulation which will make the rate to fall.

We don't need to ask the naysayers what they want, they are in their minority, they only have a say not their way

TINUBU PLEASE TAG NAIRA AT N200:$1
AND LET ALL FOREX EXCHANGES IN NIGERIA PASS THROUGH CBN AND MDBS.
BDCS MUST BUY AND SELL DOLLARS TO TRAVELLERS BELLOW N200:$1.

Orisa37

Naira is not appreciating. The CBN is selling USD to BDC operators at #1200 per dollar.

Any day the operators start selling USD less than that amount, you know it's truly appreciating. For now, they are just hedging the local currency.

helinues:
Naira loss to dollar, una dey shout

Naira regaining strength, una still dey teeth gnashing.

What caused the dollar high rate if not scarcity. So if those who are hoarding the dollars ( BDC, Binance, Terrorists sponsor) have now been exposed, logically there supposed to be more dollars in circulation which will make the rate to fall.

We don't need to ask the naysayers what they want, they are in their minority, [b]they only have a say not their wa[/b]y

They don't even have a say but the hate. So they have wail. Hayy

Birdbyrde440:
The answer is simple, the FG through the CBN is stifling competition and free market activities in the FX market.
First, they refused to clear all fx backlogs, only 'verified ' ones.

Second they made it impossible for bureau de change to serve the needs of large fx demands, mandating all fx needs to be acquired through banks with a $500 cap.

Third they banned binance(as Buhari banned Twitter), tricked and arrested binance executives thereby shutting down the online fx marketplace.

Soon they will start price fixing when inflation goes out of control. When the fx issue goes out of control again the next move will be to ban imports.

Banning banning banning!

It seems you are one of those forex speculators? Your lamentations are epic.

What do you mean by government is stifling competition and free market activities?

Should CBN clear FX backlogs that are questionable and fraudulently packaged?

Should BDCs serve the needs of large FX demand customers in the first place? Such demands should be routed through the commercial banks in the first place.

Your fellow speculators have been using the Binance platform to manipulate the rate of exchange of dollars to naira.

You are a sore looser, better go and sell your remaining stock of dollars to limit your losses.

Wallade:


It seems you are one of those forex speculators? Your lamentations are epic.

What do you mean by government is stifling competition and free market activities?

Should CBN clear FX backlogs that are questionable and fraudulently packaged?

Should BDCs serve the needs of large FX demand customers in the first place? Such demands should be routed through the commercial banks in the first place.

Your fellow speculators have been using the Binance platform to manipulate the rate of exchange of dollars to naira.

You are a sore looser, better go and sell your remaining stock of dollars to limit your losses.

I bought more dollars today. I'm riding the wave all the way down

Awọn Èèyàn Ẹni Ibi, evil people all they want is dollars to keep going up.

Birdbyrde440:


I bought more dollars today. I'm riding the wave all the way down

Keep it up 😄

Enemies of Nigeria will continue to be in pains. The pains of stocking up dollars only for our precious Naira to appreciate massively dey pain them like mad.


No peace for the wicked.

Unpatriotic lots will surely wail and get tired. Naira must rise.

Birdbyrde440:


I bought more dollars today. I'm riding the wave all the way down

Then stop crying.

BondRiv:


Then stop crying.

It's a candid observation.

Tjra:
Enemies of Nigeria will continue to be in pains. The pains of stocking up dollars only for our precious Naira to appreciate massively dey pain them like mad.


No peace for the wicked.

That's what you think.

BondRiv:
Unpatriotic lots will surely wail and get tired. Naira must rise.

Then we can buy dollars on the cheap.