BDCs seek return to mainstream FX business as naira nears N600/$ | The Guardian Nigeria News - Nigeria and World News

📆 29/03/2022 00:50:00
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Eight months after the Central Bank of Nigeria (CBN) stopped funding Bureaux de Change (BDCs) operations, the Association of Bureaux de Change Operators of Nigeria (ABCON) is seeking the return of its members.....

Our inclusion will stabilise market, ABCON insists

The plea comes as the dollar consolidates around N590/$ after it broke the N580/$ resistance two weeks ago. N580/$ had remained a ceiling for the third quarter of last year. According to the NEC, BDCs remain the most potent tool the CBN was leveraging to achieve its foreign exchange rate management at the retail market level.

The group said it would continue to take steps towards ensuring that the businesses of its members are restored and that they continue their legitimate operations as obtained in other parts of the world.

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