The President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, has commended the Federal Government, particularly its monetary authorities, on sustained efforts to stabilise the exchange rate of the Naira and curb abuses in the foreign exchange (forex) market.
The ABCON chief noted that the three years of the present administration had been characterized by sustained efforts of the government, through sundry monetary policy initiatives of the Central Bank of Nigeria (CBN), to undermine activities of speculators in the forex market.
Gwadabe explained that recent policy measures of the President Buhari-led administration had helped in attracting Foreign Direct Inflows (FDIs), bolstered investor’s confidence and also led to reduction in the volume of imports.
While advising the government on the need to consolidate on its economic diversification agenda, he noted that the development of the solid mineral’s sector would bring value to Nigerian professionals.
To sustain the Naira exchange rate stability in the months ahead, the ABCON President canvassed the need for synergy between the fiscal and monetary authorities.
This is just as he projected that the prospects of the economy for sustainable growth looked bright in the years ahead.
