Checkout 4 people making money from dollar scarcity in Nigeria
The current scarcity of dollar and high interest rate in Nigeria appears to be the burning issue that needs urgent attention.
Every Nigerian, government agencies and several small and big private businesses have in one way or the other have been impacted.
The scarcity has caused an increase in demand which in turn resulted into a hike in the value of the greenback.
Several people have lost their jobs, businesses have closed down and others are reeling from reduced revenue as a result of the scarcity.
READ ALSO: Naira stays strong at N455/per dollar in black market
Naij.com takes a look at 4 people who are faring well due to scarcity of dollar in the country. They are:
1.Those who earn salary in dollars
There are workers and business owners in the country who earn their salary or transact business in dollars. The situation has caused an increase in their income status. Website owners receive their cheques from Google in dollars, companies with foreigners as clients receive their payments in dollars, exporters, etc.
2. Currency marketers
These group of people are making a lot from the high dollar rate with the continuous fall of the naira. The scarcity of dollar in the country has seen the rise of online currency marketers who advertise themselves. They can sell to you, at the parallel market rate. Some of them are legit and others are frauds.
3. Producers of raw materials locally
Due to the scarcity of dollar, several business owners have resorted to patronizing local producers of raw materials to meet their demands. The major demand for dollar in Nigeria is to import raw materials for the production of daily goods.
READ ALSO: Dangote sacks 36 expatriate and 12 Nigerian workers
4. Yahoo yahoo boys
Theses internet fraudsters receive money through Western Union, Money Gram and they collect dollars directly. With the high price of dollars they get to exchange and get even more Naira than they usually do.
Meanwhile, you can check out NAIJ.com’s Bureau De Change ‘market’ here for the best rates on foreign exchange.
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