The Association of Bureau De Change Operators has said it will commence what it called ‘Operation No Street Trading’ to stop the hawking of foreign exchange by BDC operators. The country’s currency was recently devalued after the CBN adopted the NAFEX rate of N410/$1 as its official exchange rate. He said forex speculators were capitalising on the state of the forex market and the naira to sell dollars above the CBN-approved margin. He said, “To say there are unlicensed BDCs operators is very annoying to hear. Where are the illegal BDC operators getting their forex?

Source: Punch June 02, 2021 23:59 UTC