Dollar Palaver : Women in Kaduna state allegedly rush to sell their gold as Naira crashes

A few days ago, Nigerians took to Twitter to lament the ridiculous exchange rate, accusing the President of taking frequent trips abroad while the economy was suffering. “Naira is falling, Baba is travelling,” they tweeted.

Now, it is being reported that women in Kaduna state are storming the gold sellers section of the Kaduna Central Market to sell off their jewellery as the price of gold per gram rises to N10,500 as against its former price of N8,000.

According to Daily Trust, the inundation of women selling off their gold in the past few days has caused a shortage of money for the gold traders. One of the traders, Rabiu Ismaila Funtuwa stated that the old price for selling was N8,200 while buying was N9,000. He attributed the rush to sell gold to the increase in the price of selling to N10,500 and buying N13,500.

“We have received so many women in the market in the past few days due to increase in the price for selling. I just hope they make good use of the money. If they are going to help themselves by buying houses or plots of land, it will go a long way in easing their problems and that of their families,” he said.

Another gold seller stated that he bought over 20 sets of gold from different women last week. “Even though it is not my business what they would use the money for, I tend to advise them on the judicious use of the money otherwise, they will just sell the gold and squander the money.

“A lot of them confided in me that they want to either buy a plot of land or finish their uncompleted buildings which, to me, is a good initiative because they would have lifted a huge burden off their husbands,” he said.

Source: daily trust

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