Connect with us

DOLLAR TO NAIRA EXCHANGE RATES

BREAKING: Dollar Scarcity Hits Nigerian Banks As 2023 General Elections Approaches

Published

on

Naira 4 Dollar Scheme Brandnewsday For the Price of One, Nigeria’s Foreign Reserve, Dollar, Forex Holders, dollar to naira exchange rate today black market,  cbn exchange rate dollar to naira, aboki fx dollar to naira,  euro to naira, naira to dollar exchange rate in 2020, pounds to naira,  how much is 1million naira in dollars,  aboki dollar rate in nigeria today, aboki dollar rate in nigeria today, aboki exchange rate in nigeria today, dollar to naira exchange rate today black market, exchange rate nigeria today, dollar to naira bank rate today,  pounds to naira, gtbank dollar to naira exchange rate, black market exchange rate, abokifx exchange rate in nigeria today black market, dollar to naira yesterday, euro to naira today black market, 100 dollars to naira, cad to naira black market, 500 dollars to naira, 200 dollars to naira, cbn exchange rate, Black Market Dollar To Naira, naira to dollar, Dollar To Naira Black Market

Dollar Scarcity has Hits Nigerian Banks As 2023 General Elections Approaches, continue reading below.

BrandNewsDay reports that the foreign currency reserve base in Nigerian banks is currently battling dollar scarcity as the country prepares for its general elections in 2023.

A source in one of the new generation banks in Lagos who spoke with BrandNewsDay Nigeria disclosed that the scarcity of dollars may not be unconnected with the National Convention of the All Progressives Congress (APC) and the Peoples Democratic Party (PDP) where they would pick their presidential candidate.

The exchange rate of the naira and US Dollar last week at the official Investors and Exporters (I&E) w indow closed at N419.5/$1.

Advertisement

The downturn in the market is following the drop in the amount of dollar supply in the market.

Forex turnover last Thursday dropped by 17.36 per cent, compared to the previous day to stand at $124.85 million, the lowest in the four trading sessions.

Dollar Scarcity Hits Nigerian Banks As 2023 General Elections Approaches

According to information from BDCs, last Thursday, the exchange rate at the parallel market closed at N585/$1, depreciating by 0.86 per cent compared to N580/$1 traded in the previous day.

Advertisement

A sourcewho also revealed that Dollar has became scarce about a week ago, but got worse when most banks could not meet the foreign exchange request of their customers.

The source claimed that politicians have started laying their hands on Dollars as the electoral process draws closer.

READ: Black Market Dollar To Naira Aboki Exchange Rate Today Friday, 29 April 2022

Some customers found under the category of diaspora remittance recipients have been denied access to funds sent to them by their families and friends abroad.

READ:  Bad governance: Recreating Nigeria To Avert Collapse

A customer with a first-generation bank, Olakunle Olawoyin claimed that he was disappointed last week when he was told that Dollar was not available for disbursement.

Advertisement

He further stated that similar efforts to get foreign currency at other branch of the bank in Ikeja proved abortive before he resorted to Ogba.

Olawoyin disclosed that he had to resort to intimidation and harassment before the teller could accede to his request.

He, however, said other customers were not as lucky as he was as they were turned down due to Dollar shortage.

Advertisement

 

Facebook Comments
Warning: Undefined variable $post in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5317 Warning: Attempt to read property "ID" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5317 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322