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BDCS mull harmonised retail end forex market

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The Nation Newspaper BDCS mull harmonised retail end forex market

is working on establishing a unified retail end forex market operations to tackle volatility and boost regulatory compliance within the Bureaux De Change sub-sector.

He said that ABCON plans to extend its automation policies and platforms to all BDC operators across Nigerian markets and upgrading its Business Process Platform-. Gwadabe said: “Part of our vision for a united retail-end forex market include activating geo mapping and automated BDCs physical office verification exercise using the Remote Gravity Physical verification apps. This will enable forex buyers to easily locate where BDCs offices are for effective and seamless transactions”.

The successful execution of this plan, Gwadabe said, will help in seamlessly capturing revenues for government through digitised retail end market and creating a well structured, transparent and competitive platform to checkmate the menace of unlicensed platforms like Binance, Aboki FX, ByBit among others.

 

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