The Association of Bureaux de Change Operators of Nigeria has said that its annual turnover is now N1tn. The event was attended by delegates from the Central Bank of Nigeria, Nigerian Financial Intelligence Unit, Nigeria Inter-Bank Settlement System Plc and other stakeholders in the economy. “We are happy to announce that the licensed BDCs subsector is commanding N1tn annual turnover in the economy,” he said. Gwadabe said that ABCON had suggested to the CBN to make BDCs diaspora remittances pay agents. “Therefore, ABCON suggests that the CBN allows investors and diaspora remittances senders to freely interact with the BDCs bid and offer rates and make the BDCs pay out agents for remittances,” he said.

Source: Punch April 15, 2021 03:45 UTC