No More N1K/$: ABCON Foresees Stronger Naira Exchange Rate Against US Dollar in 2024 [Video]

• ABCON has provided insight into the expected performance of the Nigerian currency in the foreign exchange market in 2024
• The umbrella body of BDC operators also anticipates convergence between the official and unofficial market rates
• The naira performed poorly in the FX markets, with a new report ranking it as one of the worst-performing currencies in the world

Legit.ng journalist Dave Ibemere has over a decade of experience covering Tech, Energy, Stocks, Investments, and the Economy.

The Association of Bureaux De Change Operators of Nigeria (ABCON) has projected that the naira will close against the dollar in 2024 at an exchange rate of N900/$.

In an exclusive interview with Legit.ng, Aminu Gwadabe, ABCON president, also shared his expectations on the convergence between official and unofficial market exchange rates.

In 2023, the value of the naira depreciated from N450 to …