BDCs Say They’ll Source For Forex Independently

The Association of Bureaux De Change Operators of Nigeria has assured members of the public that Bureaux De Change operators are still providing foreign exchange services.

ABCON said while the dollar sale from the Central Bank of Nigeria had helped in enhancing supply, the fact remained that BDCs were empowered to source forex from other sources and also to provide various services to members of the public.

The President, ABCON, Aminu Gwadabe, said this in a statement on Thursday, adding that the recent pronouncement of the CBN did not stop BDCs from providing forex services as allowed by their operating licenses.

He said the association would engage with the CBN to address and resolve all the issues that led to the stoppage of foreign exchange sales to BDC operators.

The ABCON president said while the CBN has stopped dollar sale to BDCs, it has not cancelled their operating licences or banned them from providing FX services to members of the public.

He said ABCON had called for a zonal nationwide meeting of members to discuss the action of the CBN and obtain contribution for the National BDC Policy.

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