Nigerian market has shut down the forex market as there is no supply
of dollors anymore. Virtually being no industry in the country which
can support export, it is increasing difficult to maintain and keep
the reservers stable. It will create more problems for the country as
it has to source some of the supplies from abroad and has to pay in
Dollors. Trading has been stopped for dollor and it is furhter
complicating the situation. The forex market and forex reserves are
being watched by analysts and traders to see if it is still safe to
forex trading in the market. Compounding situation is worsening due to
declining market locally. There is no relief in near future as
expected many analysts. There are strong warnings round the corner for
Nigeria.