Abcon president says naira will appreciate after stability

It seems like you're referring to a recent statement made by the President of the Association of Bureau De Change Operators of Nigeria (ABCON), Aminu Gwadabe.

According to reports, Gwadabe stated that the naira will appreciate in value once stability is achieved in the foreign exchange market. He attributed the current depreciation of the naira to the lack of stability in the market, which has led to a surge in demand for foreign currencies.

Gwadabe's statement suggests that the ABCON president believes that once the market stabilizes, the demand for foreign currencies will decrease, and the naira will appreciate in value. This is because a stable market would reduce the pressure on the naira, allowing its value to strengthen.

It's worth noting that the naira has been experiencing significant depreciation in recent times, with the exchange rate fluctuating wildly. The Central Bank of Nigeria (CBN) has been intervening in the market to stabilize the exchange rate, but the efforts have been met with limited success.

The ABCON president's statement is likely an attempt to reassure Nigerians that the naira will recover once the market stabilizes. However, it remains to be seen whether his prediction will come to pass.