ABCON, the umbrella body of the nation’s over 4,500 Bureaux De Change , licensed by the CBN, received the directive in Lagos, during the Inter-Governmental Action Group against Money Laundering in West Africa Mutual Evaluation Exercise Sensitisation workshop for South West.
He said that ABCON should develop and implement a Code of Conduct for members to promote ethical practices and transparency in the sector, while also continually advising the apex bank on market intelligence on key industry issues. But ABCON President, Dr. Aminu Gwadabe, said that ABCON had consistently advised operators to put in place and implement a system of internal policies, procedures and controls, including Know Your Customer, Customer Due Diligence and reporting of all suspicious transactions to regulators.