Following the continuous downward slide of the Naira against other currencies, FUNMILAYO AREMU investigates why the Naira continues to perform poorly at the foreign exchange market.
Mallam Isa (not real name), the CEO of a bureaux de change company in Lagos, reclined in his chair, staring at the customer in front of him with a combination of disbelief and disdain. “You want me to buy your one dollar for N800? So, how much will I sell it to other customers? That is ridiculous!,” he growled at the woman.
“I expect the rate to have risen higher so that I can get more value in naira,” the woman defended her position.
“You are part of the problem in this country; I will…
Source: Nigerian Tribune