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Concerted effort on monetary, fiscal policies will stabilize naira—BDC chief

Current president of the Association of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe has explained that the pressure exerted by forex on the Naira was disturbing and dangerous to investment, output and employment.

While calling for harmony between the fiscal and monetary policies in addressing the woes of the Naira, he said “There is the need for concerted collaboration among both the fiscal, monetary policy makers and the operators in the economy to address this monster facing the economy”.

 “I must confess that I am disturbed and worried.”

However, early in the New Year, the naira has recorded a big gain against the American dollar, Pound sterling and Euro at the parallel market.

This comes even as the Christmas celebration weighs on the demand for the foreign currencies across the foreign exchange markets.