The President, Association of Bureaux De Change Operators of Nigeria, ABCON, Alhaji Aminu Gwadabe has projected an improved foreign exchange, forex, inflows into Nigeria following the likely return of JP Morgan Chase & Co. to the Nigerian market.
The ABCON boss added that the return is also likely to boost Central Bank of Nigeria, CBN’s chances of achieving its $60 billion foreign reserves target in 2018.
In a statement, Gwadabe hailed the Federal Government’s plans to begin talks with JP Morgan about being included in its government bond index for emerging markets.
Naira securities were removed from the JP Morgan Index in 2015 because of foreign-currency shortages.
He said such return will also enable Nigeria benefit from the $20 billion overseas investment planned by the US bank which will see it raise wages, hire more, and open new branches in emerging market countries.
