Naira’s Rebound: ABCON Credits It to CBN’s Dual Approach of Dollar Liquidity Injection and Naira Mopping
The Naira’s recent strength against the US Dollar is attributed to the Central Bank of Nigeria’s (CBN) measures to increase dollar liquidity and mop up excess Naira through interest rate hikes. The President of the Association of Bureau De Change Operators of Nigeria (ABCON), Aminu Gwadabe, explained that this approach is aimed at reducing speculation,…