BDCs want forex profit margin reviewed

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Bureau De Change (BDC) operators, on Wednesday, said the profit margin on the new fixed rate on the exchange market being implemented by the Central Bank of Nig

President of the association, Aminu Gwadabe, at a webinar for the operators, called on the CBN to review the profit margin.Daily Trust reports that with effect from Monday, September 7, 2020, the CBN would begin to sell dollars to the BDCs at a fixed rate of N384 to the dollar while they are expected to sell to their customers at N386.“The challenge that we are facing is the smaller margin.

 

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