Insightful Discussion with BDCs President, Gwadabe, on Strategies for Naira Value below N1,000 per Dollar
Dr. Aminu Gwadabe, the National President of the Association of Bureaux De Change of Nigeria (ABCON), shared exclusive insights with NewsNow's Correspondent, Ariemu Ogaga, discussing the recent depreciation of the Naira and proposed solutions for achieving foreign exchange stability in Nigeria. Here are the key points from the interview:
Assessment of Recent Naira Depreciation:
The recent downward trend in the value of the Naira has raised concerns due to unexpected developments. Several factors have contributed to this situation, including speculative behaviors in the market and pressures from online trading platforms affecting the Naira's performance.
Intervention Measures by the Central Bank:
Despite interventions by the Central Bank of Nigeria, such as providing funds to eligibl...