VNigerian Landlords Now Collect House Rent In Dollars

                       At a time when many Nigerians are complaining about the harsh economic climate in the country, a new investigative report has revealed that landlords in the Federal Capital Territory (FCT), Abuja, are now demanding that their house rents are paid in dollars.

According to the report published by the Daily Trust newspaper online today, January 27, 2015, to get decent accommodation for business in Abuja is now becoming increasingly hard, as most of the landlords no longer want their rents in Naira but in dollars.

“Renting a small place, maybe 60 square feet room, nothing fantastic and you find yourself paying a lot of money in dollars. Most such places will take from you in this town, at least $300 per square meter [close to N60,000sqm],” said Tope Fasua, an economist who does financial consulting and advisory services, of his experiences at the hands of property owners in Abuja.

He added: “We have places where they collect so much…they collect only dollars—they won’t collect naira from you. Sometimes, a very small space, you’ll be shocked at the kind of amount [of money] they’ll ask for.”