Nigeria Bureau De Change Association Boss Accuses Speculators of Destabilizin...

Nigeria Bureau De Change Association Boss Accuses Speculators of Destabilizin...

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 BDC....


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