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Lagos-based Bureau De Change (BDC) operator, Alhaji Nasiru Ibrahim Gulma has hailed the Central Bank of Nigeria (CBN) interventions in the foreign exchange market.

Alhaji Gulma said if everybody can follow the normal procedure, the naira would witness more appreciation.

He said one dollar would have been exchanged for N1000 if the CBN had not intervened by supplying dollars to the operators.


Gulma, an indigene of Kebbi state and licensed BDC operator, told Daily Trust Newspaper that the CBN policy would further rub off on those who genuinely need dollars to import their goods and concomitantly bring about reduction in prices of goods.

He said CBN had been supplying over 3000 registered BDC operators with $20,000 a week, which is a huge intervention and this has gone a long way in easing pressure off commercial banks.

According to him, if the interventions continue, the dollar would crash further.