Forex market: BDC operator calls for collective efforts to stabilise naira

The Managing Director, 313 Bureau de Change, Alhaji Murtala Bashir, has emphasised the need for collective efforts to ensure the stability of the naira at the foreign exchange market in Nigeria.

Bashir made the call in a statement made available to the newsmen on Friday in Abuja.

He said the Federal government and the Central Bank of Nigeria (CBN) should as matter of urgency constitute a strong committee to monitor and ensure the stability of the naira against the dollar at the Forex market.

He said the committee should include representatives of the Federal government, CBN, commercial banks, business men, bureau de change, EFCC and other security agencies.

According to him, the committee should be saddled with the responsibility of monitoring the forex market and, at the same time, advise the government on any problems observed and come up with solutions.

Bashir also commended the CBN for its efforts towards stabilising the naira in the forex market.

He added that restoring transparency and engendering investors’ confidence were the next steps to take if Nigeria must unlock the dollar flows needed to support the naira.