The Bureau de Change (BDC) operators have released a hint that the naira may fall to 400 against the green back unless something is the currency’s free fall.
According to Taiwo Ebenezer, the southwest Chairman of BDC, more than 30,000 Nigerians working with the BDCs have become jobless, as a result of the central bank of Nigeria (CBN) policy.
Speaking on Business Morning with Channels Television, Ebenezer said the BDCs had been facing difficulties in surviving the latest CBN policy. “If between now and next week this windows are not open; it will get to 400 to a dollar. There is no other source these dollars come from and there’s a lot of demand,” he said.
“If CBN answers us, say tomorrow or today, I assure you that from this 355 – by doing that, you are increasing the supply – I assure you by Monday, dollar will go back to 250. “Let them give it a try, we would do it, we would try our best. Our case is like an army officer, you want to fight Boko Haram, you now give him cutlass to go and fight somebody that is holding gun, how is he going to fight? “We don’t have dollar; we can’t access anything. We can’t access CBN window, we can’t access autonomous window.” He argued that since BDCs are answerable to CBN, CBN should see them as a tool for controlling the naira and not otherwise.
