In-depth study of the parallel foreign exchange market in Nigeria: report |
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acquiring foreign exchange AFEM analysis Authorised Dealers BDC operators Bureau de Change bureaucratic delays CBN/NISER Field Survey cent of total CFA Franc change operators coefficients constraints correspondent banks cost of foreign customers depreciation Distribution of Respondents Distributive Trade Trade documentation dollar Economic exchange market premium exchange rate determination export proceeds foreign exchange market foreign exchange transactions formal foreign exchange formal market French Franc IFEM transactions illegal implicit costs important imputed costs IN-DEPTH STUDY including political office informal foreign exchange interviewed Italian Lira Kaduna Kano Lagos Logistic Regression Results Maiduguri major market and Bureau market in Nigeria monetary authorities naira official market Onitsha parallel foreign exchange Parallel Market Bureau parallel market operators patronising the parallel Percentage Distribution political office holders pound sterling pure parallel market respectively responding parallel market source of foreign statistically significant supply of foreign Table total transactions Trade Trade Associations transactions costs travellers cheques volume of foreign