He said while the Central Bank of Nigeria made it easier for large enterprises to access dollars from the commercial banks, MSMEs often found it difficult and were constrained to resort to parallel market.
As of Friday, information on the website of the CBN showed the official rate remained at N415.87 per dollar, but in the parallel market, dollar exchanged for between N600 and N610 as of Thursday evening. In a telephone interview with our correspondent recently, Egbesola said, “Micro and small businesses are the worst hit by the dollar scarcity and high cost of diesel. While the medium and big businesses have the ability to find financial support to cushion the effect, we do not.
Is Nigeria not finished ?
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