The Association of Bureau De Change Operators of Nigeria has called for stronger collaboration with the Central Bank of Nigeria to stabilise the naira.
President of the association, Aminu Gwadabe, who made the call, explained that working in concert with the apex bank in the past, which yielded positive results, helped the naira to appreciate at the foreign exchange market, maintaining relative stability.
Gwadabe said the relevance of bureaux de change became critical way back in 2008 when the nation began experiencing a crisis of liquidity.
He noted that in 2009 when a similar crisis persisted, it took the collaborative efforts of the CBN and the BDCs to contain the free-fall in the naira exchange rate.
While commending the management of the CBN, especially its governor, for identifying with the BDCs, he argued that similar efforts in the past had helped turn things around.
“With a sincere and deep appreciation to the management of the central bank, especially the governor, Godwin Emefiele, for identifying to collaborate with us as this has always turned around any difficulty the naira is facing on the economy. We believe that with our take off on Monday, we are going to have more positivity.”
