Dollar exchange to Naira has been fluctuating recently. It has stood over N306 to a dollar in the last one week at the parallel market. Thanks to the consistent release of dollar by the Central Bank of Nigeria to the interbank.
This has enabled authentic businessmen to do trading and of course given some solace to students who have to pay school fees abroad.
On Tuesday, CBN released about $200 million for agricultural business and to enable the importation of petroleum products. In spite, ordinary Nigerians have continually complained the scarcity of dollar with the reasons that the currency is been hoarded each time it is released by CBN.
This may not be far from the truth, judging by the recent $43.4 million discovered at a residence in Ikoyi.
Before then, the Economic and Financial Crimes Commission, had uncovered thousands of dollars in a Bureau De Change at Balogun Market.
Nobody has come to claim the alleged funds.
However, mega shops around Lagos were filled with shoppers on Friday to welcome the Easter carnival.
Though it may sound unbelievable, the truth is that shoppers came with dollars to buy items.
Besides, online shopping was visibly observed by our correspondent and the dollar was used to transact the business.
The question is where do Nigerians get the cash in spite of the current economic recession? According to a shopper at Lagos City Mall, also Known as Shoprite, who simply identified herself as Segi, Nigerians are resilient and will always squeeze out little out of every difficult situation.
She said, “Believe me, I saved what I’m spending today. I have long time plan for every situation and I do not allow the economy to hit me unaware.”
To another shopper, Teddy, “I have come to relax and nothing more. I do not have such money to waste on Easter. I just took Ice Cream and I’m leaving.”