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Naira Appreciation: What CBN Should do Next – BDC President

President of the Association of Bureau De Change Operators of Nigeria (ABCON) Aminu Gwadabe has called on the Central Bank of Nigeria (CBN) to loosen its policies on foreign direct inflow and diaspora remittances. 

According to him, this will help rate convergence of the currency and make it appreciate faster towards its true value. 

The recent development in the FOREX market had made it important for the CBN to review the rate at which it sells FOREX to BDCs, he said.

He also explained that a fair playing ground for all operators at the FOREX market is needed for the CBN to achieve its goal for rate convergence at the market. 

The naira on Thursday appreciated further against the dollar, exchanging at N400 to the greenback.

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