It said consolidation would improve corporate governance and rules of engagement with the apex bank.The merger option was adopted for class ‘A’ BDCs in 2007/2008, which entitled them to $1 million weekly allocation with a N500 million capital base, the association said.
It said the Central Bank of Nigeria would be in a better position to regulate the BDCs from the consolidation exercise. Each of the CBN-licensed BDCs is capitalised to the tune of N35 million and should be allowed to willingly consolidate among themselves, ABCON President, Dr Aminu Gwadabe, said in a statement.
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Naira falls to N930/$ at parallel market as BDCs lament dollar scarcityThe naira, on Wednesday, depreciated to N930 per dollar at the parallel section of the foreign exchange market.
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