Association of Bureaux de Change Operators of Nigeria (ABCON) seeks return of members to mainstream foreign exchange (FX) business.

Written by on April 6, 2022

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 to mainstream foreign exchange (FX) business.

ABCON, which is the umbrella body, is asking for the reversal of CBN’s decision to boost its efficiency in servicing the retail end of the market.

The plea comes as the dollar consolidates around 590 naira to a dollar after it broke the 580 naira to a dollar resistance two weeks ago.

While the report says that agriculture contributes the highest to Nigeria’s Gross Domestic Product (GDP) at 27 percent, the governor of Central Bank of Nigeria (CBN), Godwin Emefiele said the sector is the economic policy thrust of the present administration.

Kevin Madu


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