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 our reporter 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 advise the government on any problem observed and come up with solution.

Bashir also commended the CBN on its efforts toward stabilising the naira at forex market.

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