With the current trend downfall in the global economy, the Lumi currency continue to soar high despite the inability of the beneficiaries to even access their lumi wallets at the moment.
The Lumi is presently traded above N8,000 in Nigeria even though no one has been able to withdraw from the wallet. However, peer to peer (P2P) transfer has also drastically dropped due to the portal upgrade.
In South Africa, even the fees schools and events that were accepting Lumi in exchange for services has stopped due to their inability to access their Swiffin wallets.
One of the technical support team who chatted Newsway said, “Swiffin is working on collaborating with some of the crypto wallets to enable an easy swap for other digital assets including Bitcoin.
In Nigeria, the Central Bank of Nigeria’s Governor Dr. Godwin Emiefere has assured Nigerians that the country’s Apex bank is considering a review of the Monetary Policy to enable crypto traders have a guided way of trading in crypto currencies.
Recall that in late 2020 the CBN ordered all commercial banks in the country to close all accounts being transacted in cryptocurrencies. This the bank’s Governor explained that it was in the interest of the good people of Nigeria.
Crypto trading remained banned even as the Governor promised a review of the guidelines and other constitutional provisions guiding digital and crypto currencies.
With the unveiling of the ECO-6’s Exchange Rate Mechanism (ERM), lumi beneficiaries are optimistic that in October this year lumi will be converted to fiat currencies in Africa.
In another development, the Dollar to Naira exchange rate continue to soar up for three consecutive days. The exchange rate is presently N317/$1 at the parallel Market (black market) while at the official window Dollar is trader at N419/$1.
Big profit for Dollar to Naira and big lost for Naira to Dollar