A Preston shop that has operated as a takeaway for more than 35 years is to go from selling hot cooked food to confectionery. The retail unit, on Ribbleton Lane […]
The former takeaway on Ribbleton Lane. Credit: Blog Preston
A Preston shop that has operated as a takeaway for more than 35 years is to go from selling hot cooked food to confectionery.
The retail unit, on Ribbleton Lane in Ribbleton, is currently vacant and was most recently in use as the Patty Shack.
Permission for a takeaway in the location was first granted back in 1987 and Preston City Council planners have now approved a proposal to convert it into what the applicant for the change describes as a “sweet shop”.
The business will open from midday until 9pm, seven days a week. No objections were received to the plans and the flat above the property will be unchanged.
In a report outlining the reasons for giving the go-ahead to the overhaul, planning officers say it would not have “any unacceptable impact” upon the local area or highway safety – and was in keeping with other retail premises nearby.
It was concluded that the new venture would not have a greater impact on residents of the flat than the takeaway – and would also serve to bring an empty shop back into use.
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<p><img width="1000" height="600" src="https://www.naijanews.com/wp-content/uploads/2024/03/canadian-dollar-cad-1000x600.jpeg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" fetchpriority="high" srcset="https://www.naijanews.com/wp-content/uploads/2024/03/canadian-dollar-cad-1000x600.jpeg 1000w, https://www.naijanews.com/wp-content/uploads/2024/03/canadian-dollar-cad-590x354.jpeg 590w, https://www.naijanews.com/wp-content/uploads/2024/03/canadian-dollar-cad-400x240.jpeg 400w" sizes="(max-width: 1000px) 100vw, 1000px" /></p>
<h2>The <a href="https://www.naijanews.com/topic/canadian-dollar/">Canadian Dollar</a> to Naira exchange rate in Nigeria's informal currency trading circles, popularly known as the black market, has reached N1,153.469 as of March 10, 2024.</h2>
<p>These transactions, typically facilitated by informal traders known as Abokis, have seen a significant increase, highlighting the ongoing volatility in the foreign exchange market.</p>
<p>The parallel market, operating independently from the official banking system, reflects the real-time supply and demand dynamics for foreign currencies in Nigeria.</p>
<p>While it offers an alternative route for obtaining foreign currencies, the black market is fraught with risks, including the potential for scams, underscoring the importance of caution among those engaging in such transactions.</p>
<p>As of today, exchanging 100 Canadian Dollars (CAD) in the black market would result in N115,346.90, while CAD1000 exchanges for N1,153,469.00, rates that significantly deviate from the official exchange rates.</p>
<p>This disparity underscores the challenges faced by individuals and businesses requiring foreign currency for international transactions, further complicating the economic landscape in Nigeria.</p>
<p>The reliance on the black market for currency exchange is indicative of the broader issues plaguing the country's foreign exchange market, including stringent currency controls and limited access to foreign currencies through official channels.</p>
<p>These challenges have prompted many to turn to the parallel market, despite the inherent risks and legal implications.</p>
<p>The Nigerian government and the Central Bank of Nigeria (CBN) have made efforts to stabilize the Naira and streamline the process of obtaining foreign currencies.</p>
<p>However, these measures have yet to fully address the demand-supply gap that fuels the parallel market's existence.</p>
<p>As the exchange rate for the Canadian Dollar continues to climb in the parallel market, the call for comprehensive reforms in Nigeria's foreign exchange policies grows louder.</p>
<p>The post <a href="https://www.naijanews.com/2024/03/10/canadian-dollar-to-naira-black-market-today-3/">Canadian Dollar To Naira Black Market Today</a> appeared first on <a href="https://www.naijanews.com">Naija News</a>.</p>
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