Good news that the CBN rate has been removed from noncustodial wallets and exchanges naira exchange rate as CBN do not determine the Investors and Exporters rate again. It was frustrating before, but I have seen it changed. They are now using I&E rate I guess because it is slightly higher than the parallel market rate.

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This thread is strictly about BTC/NGN price speculation, neither altcoins nor any other fiat should be included.

Most or all of us here are using the parallel (black) market rate to exchange naira to bitcoin or bitcoin to naira. Because if this, we are going to use naira exchange rate in the parallel market. We are not using CBN rate, neither are we using Investors and Exporters rate. But this may change with time if there is any need to change it.

We can make short term or long term speculation. But we know how long term speculation is more accurate if compared with short term analyses.

We should not take the speculation on this thread as an information to be used for investment. This thread would likely be helpful, but research more before investing in bitcoin. Do not post on this thread if you have nothing good to speculate about. I will not make this thread to be self-modetrated, but spam will be reported and most likely would be deleted by a moderator.

Let us take note that if Nigeria government later support bitcoin and other cryptocurrencies, likely people will be able to buy and sell at the I&E rate.

Question:
Should we use the I&E rate that wallets and exchanges are using, or we should use the parallel market rate which we are using to buy and sell?