While the Central Bank of Nigeria (CBN) maintains tighter controls and lower rates at the official window, limited access to forex and allocation restrictions have forced many businesses, importers, and students abroad to depend on the black market, where the naira-dollar rate reflects real market demand and supply.
Traders in the parallel market confirm that the recent dip in the dollar rate has sparked cautious optimism among currency buyers, though volatility remains high.
Observers say the trend underscores the urgent need for sustainable forex reforms to bridge the gap between the official and unofficial markets.…….CONTINUE FULL READING>>>>>
