Nigerians dey worry about how one ban wey di Central Bank of Nigeria (CBN) announce go affect di value of Naira for di kontri.
Dis na after di CBN put leg for ground on Tuesday say dem no go sell foreign exchange to Bureau De Change operators again.
Bureau De Change operators na companies wey get licence from CBN to trade and change currency for pipo but CBN say dia corruption too much.
CBN say dis ban go ‘stabilize’ di Naira, yet dis one no stop some Nigerian businesses to reason how dem go buy and keep plenty foreign currency like US dollars and Pounds sterling, because of fear say demand for dem go rise.
Mohammed Abdullah, wey bi official BDC operator agree say demand for foreign currency inside Nigeria go cause dia price to go up and Naira to go down.
“E no fit make Naira strong… wetin dem [CBN] dey do no make sense,” Abdullah tell BBC.
Like Abdullah, oda BDC operators believe say di CBN ban on wetin dem dey take do business no fit hold for long.
“You sabi how many registered operators dey? Like 7000 and each one get like 5 staff. So all of dem go come lose dia job!” Abdullah wey dey based for Lagos bin hala.
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‘No change today but e go soon happen’
Wetin BBC torchlight for ground one day afta di ban na say di price of Naira against foreign currencies never change.
As at Wednesday 28 July, to buy $1 from BDC, pesin go need to drop N500 – di same amount wey e be on Tuesday when CBN comot di ban.
Anoda currency exchange operator Jubril Zubairu say “although di exchange rate never change e go soon happen. In some days,” im tok, Dollar go begin go up.
But Dikko im colleague say e fit reach one month before price of foreign currencies begin go up, as banks begin to feel pressure of plenty demand from customers.
Founder of economy tori website Nairametrics, Ugo Obi-Chukwu torchlight say di ban go reduce di number of places wia customers fit exchange currency since na only banks remain as official place.
“BDCs wey no dey, go automatically put more pressure on bank branches,” Obi-Chukwu bin tell Nairametrics as im warn about di situation. E also warn say banks no go fit cope with all di rush unless dem automate dia exchange service.
Even if CBN get correct intention to stabilize di Naira, dis announcement wey many no expect dey likely to create panic and shock, and wit all di challenges wey e go cause, di Naira fit no tanda like dem hope.