The Association of Bureau de Change Operators of Nigeria has warned currency speculators to be wary as the Naira strengthens further against the United States of American dollar.
the President of ABCON, Aminu Gwadabe, the association noted that the Central Bank of Nigeria was set to inflict pain on currency speculators.
“What is happening in the market and the continuous naira rebound are the manifestations of the CBN double-edged sword measures of dollar liquidity injection and naira mopping through the instrumentality of interest rates hikes.
“It is a good development as it is (now) a great risk to speculate, hoard and substitute naira for other currencies,” Gwadabe declared.
“As we continue to observe developments, there is the need for caution in attacking the naira, as it all appears that the CBN has got the arsenal and the logic to continue to enshrine the success recorded,” ABCON noted.
The association noted there had been “Panic selling as against panic buying.”
The BDC operators called on the apex bank to continue to make clarifications and implement some of their recommendations to include them in the foreign exchange market.
Gwadabe said that such inclusion would enable BDCs to play their roles of meeting the needs of the critical retail end sector, “As they pose as pass-through effects of the central bank foreign exchange rate policy of stability and elimination of disparities in the overall market.”
“The BDCs are necessary for the demand measures of the apex bank transaction monitoring mechanism, and clients’ utilisation with correcting and moderating potential,” he added.
Beginning in April, we’re simplifying the client experience by removing subscription tiers making our most popular Client Plus features available to all clients without a paid subscription. Learn more on our community.⤵️
https://t.co/BUhUPaB36a
@Payoneer Hello
I created my account over 5 years now without verification and I submitted my ID for verification since November 3 and still pending. What's the problem please
I need this resolved asap
@Payoneer_Help Hello
I created my account over 5 years now without verification and I submitted my ID for verification since November 3 and still pending. What's the problem please
I need this resolved asap
@Sterling_Bankng Please do you operate zero opening balance for your domiciliary account?
And what are the things I need to open a dorm account with you
📢 $Doggy @TheDoggyCoin#Airdrop at @CoinMarketCap coming
📌Follow @TheDoggyCoin + retweet + mention 3 friends
📌Join https://t.co/SKEc5whrg4
📌Add $Doggy to Watchlist at CMC
💡Fill in your information at https://t.co/7OlaPl0VBH
💰1,000 winners will get $Doggy rewards