The Naira appreciated against the US dollar at the parallel foreign exchange market during the weekend.
It was gathered that the country’s currency exchanged at
1,500 and 1,698 per USD on Saturday and Sunday, respectively, from N1,800 on
Friday.
The gain on Sunday represents a N300 or 16.6 per cent gain
against the USD at the unofficial market.
The development comes amid CBN’s fresh regulatory draft
against Bureau De Change operators, including banning street trading and a new
minimum per capital share for registration.
Recall that the Economic and Financial Crimes Commission had
continued its clampdown on Bureau De Change Operators in Abuja and other major
cities in an effort to stabilize the currency.
However, the Chief Executive Officer of the Financial
Derivatives Company, Bismarck Rewane, had told President Bola Ahmed Tinubu to
stop chasing shadows with its EFCC raid on BDC operators.
The Presidential Candidate of the Labour Party at the 2023
general elections, Peter Obi, also faulted the EFCC raid on BDCs over the Naira
crisis.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com