In a decisive move to curb the rampant market speculation and the proliferation of street trading, the Association of Bureau De Change Operators of Nigeria (ABCON) is gearing up to transition to automated trading operations. This strategic shift comes in…
…As Naira depreciates further against the dollar Reports cited by Nigerian NewsDirect have revealed that Bureau De Change Operators are lobbying to resume publication of parallel market rates. Recall that former CBN governor, Godwin Emefiele had stated that BDC operators…
Bureau De Change operators in Nigeria are expressing concern over the depreciation of the naira, which has led some citizens to store their savings in US dollars. The National President of the Association of Bureau De Change Operators of Nigeria, Aminu…
The Association of Bureau de Change Operators of Nigeria has issued a stern warning to currency speculators amid the Naira rebound against the Dollar in the foreign exchange market. President of ABCON, Aminu Gwadabe, in a recent statement reacting to…
The Association of Bureau De Change Operators of Nigeria (ABCON), has revealed why the Naira is regaining strength against the dollar. “The development stems from the ‘double-edged sword dollar liquidity injection and the mopping up of the naira through interest…
The Association of Bureau De Change Operators of Nigeria (ABCON) has maintained that BDCs do not need more than the approved N35million capital base to operate efficiently and profitably. This is coming against the backdrop of earlier reports that the…
By Seun Ibiyemi Achieving stable, strong and virile exchange rate in Nigeria would require full participation of Bureaux De Change (BDCs) in the retail segment of the forex exchange market, exchange rate stability, President, Association of Bureau De Change Operators…
The Association of Bureaux De Change Operators of Nigeria (ABCON) is seeking the merger of several Bureaux De Change (BDC) operators not recapitalisation of the industry, the group announced on Thursday. The recommendation is to effectively help its corporate governance…
By Ibiyemi Mathew The Central Bank of Nigeria (CBN) has been advised to grant digital autonomy to Bureaux De Change (BDCs) operators in the country to enhance the achievement of the federal Government harmonized foreign exchange rate policies. The Association of Bureaux De…
Bureau De Change Operators in Nigeria have agreed with the acting CBN Governor that most transfers conducted by the International Money Transfer Operators (IMTOs) have been diverted and are not being tracked. The acting CBN Governor, Folashodun Shonubi, had earlier…
