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ABCON charges operators on corporate governance, customer service

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Aminu Gwadabe


The Association of Bureau De Change Operators of Nigeria (ABCON) has charged Bureau De Change (BDC) operators to improve sound corporate governance practices and customer service in their operations.

ABCON President, Dr. Aminu Gwadabe gave this charge in Lagos at the opening session of 2021 yearly nationwide training on BDC Operations.

Gwadabe stated that the training is being organised in partnership with the Central Bank of Nigeria (CBN), the Nigeria Financial Intelligence Unit (NFIU) with the aim of improving professionalism and higher compliance level among BDC operators as well as enhanced service delivery to forex end users.

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BDCs, he noted, occupy a very important position and play critical roles in the nation’s foreign exchange market, which are germane to achieving stable exchange rate and easy access to foreign exchange for members of the public in a conducive environment.

To effectively play this role, Gwadabe explained that, “BDC operators must be adequately informed and effectively equipped with the right skills and mindset to discharge their duties as required by the laws of land and the industry.

“Thus, the need for BDC directors and staff to be continuously exposed to quality capacity building programmes carefully designed to enhance their ability to professionally discharge their duties to forex end users and to the regulators”.

He explained further that the training will be executed by a team of highly experienced professionals from the CBN, NFIU and other organisations.

Expressing confident that the training will lead to improved professionalism and higher compliance level in the sub sector as well as enhanced service delivery to forex end users, Gwadabe charged participants to be prompt in applying the knowledge and lessons acquired from the training to improve on their customer service and enhance their corporate governance practices so as to ensure increased public confidence in BDCs and enhance the role and importance of the subsector in the quest of the CBN for a stable exchange rate.

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ABCONAminu Gwadabe
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