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Nigeria Bureau De Change Association Boss Accuses Speculators of Destabilizing the Naira— Says Central Bank Funding Will End Currency Woes

Technology Manias – EᐯEᖇYTᕼIᑎG YOᑌ ᑎEEᗪ IᑎᗪEEᗪ

According to the head of the Nigerian group of bureau de change operators, the naira’s continued fall on the parallel market is down to the activities of speculators. However, Aminu Gwadabe, the president of the Association of Bureau de Change Operators of Nigeria (ABCON), suggests that only a “massive funding” of bureau de change (BDC) operators by the central bank will protect the naira from speculators. Speculators to Lose Over $200 Million To achieve this objective, however, the Central Bank of Nigeria (CBN) will have to continue selling “dollars to…

The post Nigeria Bureau De Change Association Boss Accuses Speculators of Destabilizing the Naira— Says Central Bank Funding Will End Currency Woes appeared first on Technology Manias.

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