The ABCON president lamented that many licensed operators were redundant due to limited access to official forex windows
ABCON president Aminu Gwadabe in Lagos on Monday, the move demonstrates the commitment of the CBN to stabilising the FX market.
Mr Gwadabe cautioned against a rate war in the interbank market, which could be detrimental to the naira.
At the Investor’s and Exporter’s (I&E) window, the naira traded between N1,549.00 and N1,401.00 against the dollar.
“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.”
