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<p>The Governor of the Central Bank of Nigeria Godwin Emefiele says it is unfair that experts are using the parallel market rate to back their argument that the naira is overvalued and therefore calling for devaluation. While stressing the stability of the naira at the official window, the CBN governor noted that the naira had already been devalued by about 28 per cent this year. Analysts have in recent times raised concerns about the gap between the official naira exchange rate and that of the parallel market. Aminu Gwadabe, President of the Association of Bureau De Change Operators of Nigeria and Dipo Ajayi, Head of Fixed Income and Forex at Chapel Hill Denham joins CNBC Africa.</p>


What’s the true value of the naira?

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<p>A spike in parallel market rates in the past few days has seen the Nigerian Naira come under pressure in recent days, but the Central Bank of Nigeria (CBN) maintains that market fundamentals do not support devaluation at this time. The CBN says it is investigating to clamp down on people involved in speculative market behaviour. As Nigerians also await communication from the committee set up to assess and respond to the impact of the coronavirus on the 2020 budget and Nigerian economy, Andrew Nevin, Partner and Chief Economist at PwC Nigeria and Aminu Gwadabe, President of the Association of Bureau De Change Operators of Nigeria joins CNBC Africa to assess how recent developments impacts Nigeria&#8217;s economy.</p>


Dipping oil prices putting Naira under pressure

Dipping oil prices putting Naira under pressure, how badly is this affecting Nigerian economy?

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<p>The naira has remained stable both at the official and parallel markets despite several odds facing the currency ahead of the elections in Nigeria; that&#8217;s according to Aminu Gwadabe, President of the Association of Bureaux De Change Operators of Nigeria. He joins CNBC Africa for this discussion.</p>


Why the naira has remained stable despite election pressure – ABCON

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<p>The Association of Bureaux De Change Operators of Nigeria has asked the Central Bank of Nigeria to implement provisions of its 2014 circular which empowers BDCs as direct agents of international money transfer operators. Aminu Gwadabe, President of ABCON joins CNBC Africa from Abuja to discuss this story and other demands of the association.</p>


ABCON calls on CBN to make BDCs direct agents of IMTOs

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<p>The Central Bank of Nigeria has given banks a four-week deadline to open foreign exchange outlets at major airports or face stiff sanctions.</p>


Aminu Gwadabe

What’s the true value of the naira?

Dipping oil prices putting Naira under pressure, how badly is this affecting Nigerian economy?

Why the naira has remained stable despite election pressure – ABCON

ABCON calls on CBN to make BDCs direct agents of IMTOs

CBN gives banks 4 weeks to open forex outlets at airports

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Aminu Gwadabe

What’s the true value of the naira?

Dipping oil prices putting Naira under pressure, how badly is this affecting Nigerian economy?

Why the naira has remained stable despite election pressure – ABCON

ABCON calls on CBN to make BDCs direct agents of IMTOs

CBN gives banks 4 weeks to open forex outlets at airports

News Tips

Advertise With Us

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