By John Ikani
Bankers Committee has allayed fear of increasing rise of the Dollar following the decision of the Central Bank of Nigeria (CBN) to stop the sale of forex to Bureau De Change operators.
Addressing newsmen on Thursday, the Committee headed by Herbert Wigwe, Access Bank’s Chief Executive Officer, assured that the exchange rate will drop to around N423 to a dollar.
A member of the committee and Chief Executive Officer of Guarantee Holdco (GTCo), Segun Agbaje was quoted as saying “The rate will come down. Very soon, you will buy at N423 or N425 at most.”
There was support for the notion as the Access bank CEO mentioned efforts made by the CBN to facilitate the transaction process of FX, saying that the CBN has sent out circulars asking banks to set up dedicated channels for all those requesting FX.
People, he said, can begin by going to any bank branch and submitting their requests. ”There will be no additional cost charged by the banks for offering these services,” he added.