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In 2016, Buhari made overnight Billionaires from North through fraudulent Forex BDC.
It is a practice whereby Mallams obtain dollars at official rate and resell at a higher rate at the parallel market.
A lot of politicians (Aisha, Garba, Cement man) were involved.
It is a practice whereby Mallams obtain dollars at official rate and resell at a higher rate at the parallel market.
A lot of politicians (Aisha, Garba, Cement man) were involved.
In 2015/16 for instance, when the CBN was selling $ at N197 and people were buying at N300.
If you have 10m dollars at official rate and sell at 300 you'd make 1bn and if you do that 4 times a year, you'd make 4bn for doing nothing because they got the $ at N197 sell at N300.
If you have 10m dollars at official rate and sell at 300 you'd make 1bn and if you do that 4 times a year, you'd make 4bn for doing nothing because they got the $ at N197 sell at N300.
Buhari has created billionaires through forex subsidy' - Emir of Kano https://www.pulse.ng/news/local/sanusi-lamido-sanusi-ii-buhari-has-created-billionaires-through-forex-subsidy-emir-of/ljm0hz3?utm_medium=social&utm_source=twitter&utm_campaign=share-button
According to Reuters, Africaâs richest man got a fistful of dollars in Nigerian currency squeeze. https://www.reuters.com/article/us-nigeria-forex-dangote-insight-idUSKCN0Z90G5
According to Lamido Sanusi artificial Forex created a lot of Billionaires overnight. https://www.ft.com/content/c0c0876c-cd8a-11e5-831d-09f7778e7377?segmentid=acee4131-99c2-09d3-a635-873e61754ec6
