Nigeria Loosing Value In Naira- ABCON President

In an interview with NIKE POPOOLA, the President, Association of Bureaux de Change Operators of Nigeria, Alhaji Aminu Gwadabe, speaks on foreign exchange challenges and solutions, among other issues

Naira value has fallen significantly at the official and parallel markets. What is responsible for this?

You know, in every operation in each market, there is a season. So, this is a season of naira attrition in retrospect. Election year comes with pressure on that naira, which is why we have seen that premium exists between the official and the unofficial markets. On a fundamental basis, you know, this is just like a symptom, not the cause.

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