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Naira Remains Rigid Despite Election Uncertainties


40 Secs Read 

The Association of Bureaux De Change Operators of Nigeria (ABCON) is impressed that the Nigerian currency has remained strong despite several odds facing it as the country heads to the polls for the 2019 general elections.

The president of the association, Alhaji (Dr.) Aminu Gwadabe, told newsmen that the naira has remained stable at both the official and parallel markets in recent times.

Gwadabe commended the Central Bank of Nigeria (CBN) for its reforms that is ensuring the stability of the Naira even during a time like this.

The naira exchanges at N306/$1 in the official market and N358/$ in the parallel market despite all uncertainties.

The ABCON boss also applauded the contributions of the Bureau de Change (BDC) operators, and also used the medium to appealed the country's apex bank to issue Letter of Consent to ABCON proposed training institute.

He felt there is a need to deepen the capacity and skills of industry operators, and he is convinced that if the CBN should give the nod, it will boost the current ABCON Management commitment to capacity building for its members.

When that is done, Aminu is certain it will stimulate competency in the sector and give necessary chances for better foreign exchange management.

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