The naira on Monday appreciated further at the official foreign exchange market, trading at N1,452.79 to the dollar.
ABCON president Aminu Gwadabe in Lagos on Monday, the move demonstrates the commitment of the CBN to stabilising the FX market.
On Wednesday, trading on the Investors and Exporters forex window recorded a high of N1,514.00 and a low of N1,504.00.
Mr Gwadabe cautioned against a rate war in the interbank market, which could be detrimental to the naira.
He added that ABCON will upgrade technology in its quest to help in the fight against the sabotage of CBN’s reforms.
“Most of them source money to finance their transactions from the open market, and that is one of the reasons why naira is depreciating,” said BDC operators.
Mr Gwadabe suggested collaboration among export-related agencies.
Mr Gwadabe commended the CBN for its recent reforms to boost the economy and its continued efforts to tame inflation.
“In line with our obligations, ABCON supports the drive of authorities to streamline any illegal economic behaviour.”
“Our exports should also be priced in naira. Even our crude oil; we have very quality crude, it should be priced in naira.’’
