first price he was told was N850, but in less than 30 minutes, it crashed to N790 and when he was left without a choice, he has to exchange it at N790.
One of the BDC operators at Zone 4, Ibrahim Muhammad informed Daily Trust on the telephone, that the crash has caused a sudden turn of events that will cause a huge loss to many people in the parallel exchange market.
“They have just sent the BDCs bidding eligibility list to us. Nobody can predict what will happen next.
“If this happens after the meeting, what will happen after the CBN comes up with a new intervention policy to shore up the Naira can just be imagined. So, for now, we are waiting to see what happens tomorrow. It may appreciate a little, but it may also crash further. It is still being exchanged between N800 and N790 as we speak”.
