- Yesterday’s rate made the naira stronger than the N502 to a dollar it has been trading at the black market in the past few days.
Forex dealers attributed the gain at the parallel market to improved supply of the greenback, resulting in speculators losing their shirts.
The President, Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, had last week warned that forex speculators might lose over N100 billion in the next one month as the Central Bank of Nigeria (CBN) sustained funding for Bureaux De Change (BDC) operators.
