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Black Market operators lament non circulation of dollar



Despite the efforts  of Central Bank of Nigeria (CBN) to ease transactions at the Black Market, most Bureau de Change operators are yet to benefit from the foreign currencies said to have been approved to the sector, therefore still keeping them redundant. They, however,  hope that normalcy will return soon if the Federal Government keeps  pumping dollar into the system but without any sentiment.

A number of Bureau de Change operators spoke to on Tuesday, April 4, 2017, lamented the non circulation of dollar which is the leading currency in the market. They also called for justice in the distribution of dollar and other foreign currencies instead of limiting it to those within the corridor of power.


“The dollar is yet to get to most of us’ – ABDULLAHI ABU

Although, we heard that the CBN is pumping dollar into the market, we’re yet to feel the impact. As I speak, I have not seen dollar in the last three days. So, if anybody asks me about the rate, I will have to call my colleagues elsewhere to know the rate. The Federal Government is trying now but those of us at the periphery are yet to benefit from it. That’s why most of us are redundant now, no customers at all.”


‘Dollar not evenly distributed’ – AUDU SALIS

“Not all of us have access to the dollar and other foreign currencies being pumped into the market by the CBN. That’s why the business is not really moving forward. We want Buhari to intervene. It’s only those that are close to the people at the top that are getting the dollar. I struggle to get the little I trade with, and there’s no much profit again. Now, a US dollar is still being bought at N370 and sold for N380 but no access to it by people like us.”


‘The FG should monitor the distribution process’ – IDRIS YUSUF

“It’s only the big Bureau de Change owners that are benefiting from the recent dollar aid by the CBN. Those of us who are still standing with one leg are nowhere to be found. It’s good news that dollar has crashed but it has not really affected its flow within the system. I have lost most of my customers to the big wigs in the sector. I think the government needs to wade in to ensure equal distribution of the foreign currencies being allocated to us by the CBN.” 



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