Who Benefits From The Forex: Black Market Higher Than Official - Business - Nairaland
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| Who Benefits From The Forex: Black Market Higher Than Official by Nairaplus(m): 8:47am On Jan 18, 2016 |
The official USD to Naira exchange rate is about 200. But the Black Market rate that the Government of today forces us to accept is about 300. My simple question is: 1. Since they sell the Dollar for 300 Naira, and buy it for 200 Naira, a whooping 50% on Money itself, who takes the profit? Is it the CBN  2. If it is the CBN, is that earnings reported in our national budget 3. If not, who feeds this fat from the Nigerian populace |
| Re: Who Benefits From The Forex: Black Market Higher Than Official by warrenweste(m): 10:59am On Jan 18, 2016 |
both of the am sure the cbn takes some hidden commission from these evil banks  |
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