Anxieties Rise as Dollar Sells for 455 NAIRA In black Market – The United States dollar sold for 455 NAIRA in the parallel market on Wednesday, showing a shallow and dry reflection of the foreign exchange market.
Impact of the crude oil prices, which had been fluctuating, and fell to as low as $21, had also been taking its toll on the strength of the naira.
The President, Association of Bureau De Change Operators of Nigeria, Alhaji Aminu Gwadabe, told The PUNCH the 450 NAIRA/$ rate that closed the week (Friday) was a reflection of the shallowness and dryness of the foreign exchange market.
He said this was coupled with the impact of trading on the FMDQ market on future derivatives and the negative territory of our crude oil prices.
He said, “The crash of naira rate in the parallel market to a high of 450 NAIRA/$ (Friday) was as result of the shallowness and dryness of the market.
“It is our resolve to enhance liquidity in the foreign exchange market and help discover a true market exchange rate that is devoid of speculative and hoarding activities.”
The ABCON President said there was the need for the regulators to think outside the box in enhancing liquidity in the market.
“There should be both demand and supply measures to navigate the stormy waters ahead,” he said.
Following the lockdown in some states, the Central Bank of Nigeria had suspended sales of dollars to the Bureau De Change operators, following a request by ABCON to the CBN to grant it market holidays, given the ongoing challenges faced in local and global economies from the coronavirus pandemic.
Gwadabe said the operators were preparing to return to the market after the regulator lifts suspension on forex.
He said, “ABCON in preparedness to our return to business has digitised the ticketing systems of our members in various collections centre nationwide in an anticipation of the lifting of restrictions on internal movements next week.
“First our return to trading will eliminate the volatility in the market and ensure stability in the market in the face of daunting challenges of COVID-19 and tumbling oil prices.”
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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*GOOD DAY MA/SIR*
Have you had about *LAVITA RICCA INVESTMENT* ? am not talking about MMM or Ponzi SCHEME
lavita is a matrix system which give you DOUBLE of your CAPITAL back in (45 min) after registration
LAVITA PACKAGES
₦10,000——–₦20,000❌❌❌
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NOTE: we credit your account after 45min after registeration.
INTRODUCTION
Lavita Ricca International is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Mr. Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.
CONTACT NAME:- ELIZABETH TINA
HOT LINE:+2349036369810
ITS SIMPLE HERE !!!!!!!
We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 20k within 45mins we make profit of 60k then send 40k to you then profit 20k. This is not mmm where they merge people to donate for each other
You pay directly to us and we credit you directly.
+2349036369810
Note:you get credited in less than 45mins.
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The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.
NO+2347026536478
ITS SIMPLE HERE!!!!!!!
We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one partExample if you invest with 50k within 45mins we make profit of 150k then send 100k to you then profit 50k This is not mmm where they merge people to donate for each other
You pay directly to us and we credit you directly.
Note:you get credited in less than 45mins
CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING
NOTE: You can finish reading this and decide not to take the neccessary actions, but the next time you want to complain about not having money, just know that you are your own problem…
*GOOD DAY MA/SIR*
Have you had about *LAVITA RICCA INVESTMENT* ? am not talking about MMM or Ponzi SCHEME
lavita is a matrix system which give you DOUBLE of your CAPITAL back in (45 min) after registration
LAVITA PACKAGES
₦10,000——–₦20,000❌❌❌
₦20,000——–₦40,000
₦40,000——–₦80,000
₦50,000——–₦100,000
₦100,000——₦200,000
₦200,000——₦400,000
₦400,000——₦800,000
₦800,000——₦1,600,000
₦1,000,000—₦2,000,000
NOTE: we credit your account after 45min after registeration.
INTRODUCTION
Lavita Ricca International is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Mr. Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.
CONTACT NAME:- ELIZABETH TINA
HOT LINE:+2349036369810
ITS SIMPLE HERE !!!!!!!
We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 20k within 45mins we make profit of 60k then send 40k to you then profit 20k. This is not mmm where they merge people to donate for each other
You pay directly to us and we credit you directly.
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Note:you get credited in less than 45mins.
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NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem. ? ?…
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