BDCs Operators Seek Intervention In Forex Crisis

The Association of Bureaux De Change Operators of Nigeria has solicited the Central Bank of Nigeria’s support in ensuring that Bureaux De Change operators continue to sell dollars to end-users.

In a notice to its members nationwide, the ABCON National Executive Council appealed to the regulator to revisit the stoppage of dollar sales to the BDCs to bring lasting stability to the naira.

The group disagreed with claims that the naira has remained largely stable and converging following the stoppage of dollar allocation to the BDCs.

According to ABCON NEC, BDCs remain the most potent tool for the CBN to achieve its foreign exchange rate management.

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