Who profits from the forex rate crash in Nigeria
The foreign exchange crash in Nigeria is hurting the government, business and many Nigerians.
But who profits from this crash
i. People who have access to the government official rate. They can buy at the official rate and sell on the the black market.
ii. The Banks, if they decide to follow their dark side can make huge money
iii. Influential people in government, this is why Aisha Buhari was accuse but there is no evidence to substantiate this claim.
iv. Burea de change, it depends on conscience. They have access to government official rate. They can buy at govtrate and profit in the black market.
The losers are importers, the cost of paying for their good and importing have skyrocketed.
Foriegn companies in Nigeria, who have to convert their currency to dollars pounds etc. They will take hit
Nigerians travelling overseas, they will need bucket load of money
Lets know what you think guys.