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Bureau De Change operators redundant – As dollar scarcity worsens

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As dollar scarcity bites harder, and naira keeps tumbling between N452 and N470, more black market operators are gradually going out of business as majority of their clients have stopped patronising them.

Investigations by encomium.ng even revealed that most of the Bureau De Change owners have closed shop due to lack of adequate dollars and top foreign currencies with which they exchange with the naira.

Some operators encomium.ng chatted with on the market situation disclosed that things are no longer at ease as far as the trade is concerned, appealing to the Federal Government to make a policy that will make dollar more accessible at the parallel markets.

 

‘ We’re no longer enjoying the business’ – IDRIS HAWAL

“Things were not this bad in 2015 even at the beginning of this year. Now, dollar is the major foreign currency we deal in, but we hardly get it. That’s why you don’t see most of us here again. A lot of our colleagues have closed shop. Even, very few customers patronise us again. This week alone, naira fluctuated more than four times. Even, customers don’t trust us when they come today and we tell them a dollar is N450 and tomorrow we tell them it is N448. So, it looks somehow. We’re just begging the government to make dollar available so that our business can move on.”

 

‘Only few customers patronise us now’ – HARUNA YAHAYA

“We’re not making much profit now because dollar is very scarce. If you have, please bring it. I need dollar now and I will buy it well from you. I sell dollar for N475 and buy it at N 470. Many of us have withdrawn because dollar is not easy to come by now. Even most of us that come don’t do anything at times.”

 

‘Very few of us are busy now’ – ALI MAHMUD

‘The business is for the few now, not for every Tom, Dick and Harry. Dollar is so scarce now, and very few people that have it are not ready to part with it. That’s why we’re not that busy now. And everybody knows that dollar is the main currency we trade with. The government is not even ready to help our situation. A lot of our people have stopped coming. If care is not taken, a dollar may exchange for N 550 before December this year.”

  • TADE ASIFAT for encomium.ng

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