The Association of Bureau De Change Operators of Nigeria has called on the Central Bank of Nigeria to allow its members to conduct their trading digitally.
President of the association, Aminu Gwadabe, during a webinar organised by ABCON, urged BDC operators to adhere to the rules guiding BDCs by selling at the official rate assuring that the members would get forex injection soon.
Gwadabe said, “Technology is a threat whether we like it or not and we have been urging the CBN to allow us to operate within the payment space. Our request to the CBN and the federal government is to continue to empower us more especially in the payment space.
“The world is now in the fourth generation and it is no more in the traditional method of doing business. Even agriculture is digital so we are appealing to CBN to allow us to be on the digital payment space, as this will deepen the economy, further converge the rate, further deepen liquidity and empower the BDC.”
Urging operators not to sell forex at parallel market rate, he added, “It is highly unacceptable, CBN has said it is highly unacceptable. ABCON has said it is highly unacceptable and so we are calling on all the directors of BDCs to please ensure that you don’t sell to willing customers.
“Any willing customer that says he wants to buy at N465 is not your customer and they would land you in sanctions and penalties.”
