Man who bought plenty dollar at N1800 to make profit cries as as price falls

A Nigerian man who saved his money in dollars has lamented that he is at a loss because the exchange rate is going down.

The Central Bank of Nigeria (CBN) recently said it would sell a dollar to Bureau de Change Operators at N1,251.

Nigerian man says he bought dollar at N1800.The man says he would make a loss. Photo credit: X/@abazwhyllzz and Getty Images/Bloomberg.Source: UGC

Also, the CBN insisted that BDCs must sell N1,269/$1. This means those who may have saved their money in dollars hoping for an increase might be at a loss.

The Nigerian man, Abazz, lamented his fate in a post he made on X in which he said he had bought 1 dollar at the rate of N1800.

His words:

“I bought a dollar at N1,800 … Only to see it at N1,200 now. Save in dollars, save in dollars… Who will now save me from these tears.”

See his post below:

Reactions to Abazz’s post

@iiampsticks said:

“Dollars dey reduce price of bread dey increase.”

@olamideoficiall commented:

“I almost buy Dollars to keep at the rate of N1,800 per $1 last week. Na so so cry I for dey cry now.”

@vibes449 remarked:

“Be like say last last na every body go laugh last ooo.”

@AdventurousAlec said:

“I sold my dollars yesterday when I saw the fight-back strength. However, I still have quite a handful of dollars, because the CBN’s current policy to strengthen the naira is just for a short period.”

Prophet commands dollar rate to fall

Meanwhile, a preacher took Nigearia’s exchange rate crisis to God, declaring that the situation must change for the better.

The prophet, Chibueze SJ Okezie, prayed in his church, commanding the US dollar exchange rate to crash by fire.

As the prophet prayed against the high exchange rate, the congregation echoed ‘amen’ in loud voices.

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