Why naira will recover next week – Bureau de Change

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The Association of Bureau De Change Operators of Nigeria, on Thursday, gave reasons to why the Nigerian naira will be on path of recovery from next week

The association through its President Ahaji Amin Gwadabe in Lagos said it foresees the naira on the path of recovery by Monday due to the introduction of Travelex, a licensed Forex dealer.

The president said the licensed Forex dealer would enhance transparency in the distribution network.

Travelex, an international money transfer organization, was officially directed by the Central Bank of Nigeria to distribute Forex to Bureaux De Change operators by Monday.

Gwadabe said that a licensed Forex dealer would enhance transparency in the distribution network.

He said that Forex distribution would be efficient and uniformed across ABCON members unlike what was obtainable in the past.

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