The Nation Newspaper Why naira rally will continue, by ABCON
President of the Association of Bureau De Change Operators of Nigeria , Dr. Aminu Gwadabe, said this at the weekend.
Data from FMDQ Exchange showed that at the Investors and Exporters window – official market – the local currency on Friday rallied to N776.14/$1 with $99 million transaction volume. The ABCON president warned that forex speculators would, more than ever before, face the risk of losing their funds. “The BDCs are necessary in the demand measures of the apex bank, transaction monitoring mechanism and clients’ utilisation with correcting and moderating potentials,” Gwadabe said.
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