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HomeNewsCURRENCY REDESIGNED POLICY FUELS NAIRA STABILITY

CURRENCY REDESIGNED POLICY FUELS NAIRA STABILITY

The Association of Bureaux De Change Operators of Nigeria has said that the naira redesign policy of the CBN has fuelled the stability of the naira at the parallel market.

Aminu Gwadabe President ABCON, spoke against the backdrop of the outlook of the naira as the January 31 deadline for the swap of the old naira notes with the new one’s approaches.

The ABCON chief said that the naira had traded within a stable band of 750 naira to the dollar since the introduction of the policy to date.

He said that the exchange rate had remained stable in the face of the shortage of supply of the dollar in the market.

According to him, the lack of available new naira notes has continued to raise fears and concerns among average Nigerians.

He urged the CBN to continue its advocacy and stakeholder engagement to ensure a seamless transition of old notes to new ones. VANGUARD

PROCYON NEWS

 

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