By Segun Adeyanju

The Naira appreciated further at the official market on Wednesday, trading at N1,510.72 per Dollar, a 0.78% gain from Tuesday’s rate of N1,522.68.

Data from the FMDQ Securities Exchange showed the local currency traded between N1,514.00 and N1,504.00 at the Investors and Exporters (I&E) Forex window.

The Central Bank of Nigeria (CBN), introduced additional reforms on Tuesday, including waivers on 2025 license renewal fees for Bureau De Change (BDC), operators and the unveiling of the Nigeria Foreign Exchange (FX), Code to enhance transparency and governance in the forex market.

Aminu Gwadabe, President of the Association of Bureau De Change Operators of Nigeria (ABCON), commended the CBN’s initiatives, attributing the Naira’s relative stability since December 2024 to these reforms.