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The Association of Bureau De Change Operators of Nigeria has said that currency speculators will lose huge funds as the Central Bank of Nigeria plans to resume dollar sales to over 5,000 Bureau De Change operators across major cities nationwide.
The report said, “Like in 2016 currency crisis, the market got a major relief after the BDCs’ began getting dollar allocations from the CBN. “That is especially true now that the local currency has come under intense pressure that is purely driven by speculative demand for the dollar. According to him, with the CBN’s planned lifting of moratorium on dollar sales to BDCs, reopening of the airports for air travels, global ease on restriction of movement are positive indications that dollar flows to the economy would soon improve.
“It happened in 2016 and will happen again in 2020. The return of the BDCs will immediately boost naira recovery and put the enemies of the economy to shame.
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