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The real reason behind CBN approval of Naira for dollar scheme.

Written by Bossvibe

The real reason behind CBN approval of Naira for dollar scheme.

 


  • Earlier this month, the central bank of Nigeria CBN introduced a scheme of 5naira to $1. Which means that every $1 dollar you withdraw, you’ll be automatically be credited with 5Naira.

 

This policy started on 8th March 2021 and was issued to last till 8th May 2021…

 

Bossvibe learnt that the real reason behind this scheme was that the nation was short of cash and needed more cash so they devised this method in other to enhance the flow of cash into the nation..

 

Bossvibe also learnt that the reason why the country was out of cash was because of the new policy initiated against cryptocurrency ending of last month and early March.

Where the CBN threatened to shutdown cryptocurrency trading with some unwholesome policies and now it is backfiring on them because the country is short of cash that why it seems as if the price of things are also increasing..

 

Legit and illegit Cryptocurrency trading favours a country in a way because it enhances flow of cash into the nation.

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Bossvibe

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