BCAN Urges CBN To Sustain Reforms Driving Naira Recovery

By OBIOMA TORI

THE Bank Customers Association of Nigeria (BCAN) has called on the Central Bank of Nigeria (CBN) to sustain its ongoing monetary reforms to maintain the Naira’s recent recovery against the dollar.

BCAN President, Dr. Uju Ogubunka, made the appeal in Lagos following the Naira’s appreciation to ₦1,455.17/$ at the official market on Friday, gaining ₦11.48 or 0.78% from the previous day.

Ogubunka attributed the gains to effective monetary controls that regulate money supply and stabilise the economy. He, however, urged the government to complement these efforts with fiscal measures that boost local production, create jobs, and attract investment.

“People are still struggling due to low purchasing power. We need to increase productivity and ensure sustainable growth so the Naira’s recovery can reflect in citizens’ lives,” he said.