“Dollar is still scarce” -Bureau de Change operators cry

Black market operators are yet to enjoy smooth transactions as scarcity of dollar is yet to fizzle out as against their expectation that with the pledge by the Central Bank of Nigeria(CBN) to inject more of the currency into the forex market.
Some of the Bureau De Change Operators spoke to expressed dissatisfaction about the situation of their business, calling on the Federal Government to work out a lasting solution to the lingering problem.

‘No improvement yet’
“The market is yet to stabilise, dollar is yet to be made available as promised by the CBN. So, I can’t  really see any change at all. Things still remain the way they were in the past few months. Now that Buhari has come back, he and Osinbajo should work out something fast to address the issue.”

“Dollar is still scarce’
“We’re still struggling to get dollar. Dollar is still very scarce. There’s no change yet. We’re still struggling to survive in the trade. I think there are some people somewhere sabotaging the effort of CBN to make dollar available and cheap. Now, a dollar is N457 as against our expectation that it would have come down to as low as N400,  while pound sterling N535 and euro is now N475. The rate is just fluctuating for about three days. If care is not taken, dollar may still rise above N500 again.”

‘We don’t have access to dollar at all’
“Dollar is still very difficult to get, likewise pound sterling and euro. I don’t know what’s causing it. I think those allowed to purchase dollar at inter bank rate are the ones hoarding it. They’re not making it available for those that need it. People like us don’t have direct access to dollar. We rely on the ones from our customers. If more dollar is injected and monitored very well, we will have more of it in circulation and we will have enough to trade with. With that naira will have more value. The government should find solution to it. We just come here everyday and close without anything.”

Related Stories:



About the Author