ABCON restates worries over forex rate deals with CBN
The Association of Bureau De Change Operators of Nigeria (ABCON) has expressed worries that the Central Bank of Nigeria (CBN) has continued to sell dollar to its members at N360/$1 while commercial banks buy at N357/$1.
ABCON raises alarm over delay of NFIU autonomy
The continuous delay in granting operational autonomy to the Nigerian Financial Intelligence Unit (NFIU) may have irked the Association of Bureau De Change Operators of Nigeria (ABCON).The group, besides faulting the development, has raised alarm on the implications of the inaction.....
ABCON hails Nigeria’s plan to discuss JP Morgan’s return
The Association of Bureaux De Change Operators of Nigeria (ABCON) has said the Federal Government’s plans to open talks with JPMorgan Chase & Co. for their reinstatement in the local-currency emerging-market bond index will bring great benefits to the economy. ABCON President, Alhaji Aminu Gwadabe, told newsmen in Lagos that their return to Nigerian market…
ABCON seeks more cash centres, insists on rates’ review
Licensed bureau de change operators in the country have called for the opening of additional payment centres by the Central Bank of Nigeria (CBN). The cities include Port-Harcourt, Ibadan, and Benin to save its members the trouble of travelling a distant journey for collection of foreign exchange, and the risk of carrying it about.…
BDCs call for review of deals, hold emergency meeting
The nation’s bureau de change operators have renewed agitations over their assessed unfavourable terms of transactions with the Central Bank of Nigeria (CBN) and banks.For the most part of 2017, the group, while expressing gratitude for regulatory shifts....
BVN validation and bureau de change operators as veritable partners
The Association of Bureaux De Change Operators of Nigeria (ABCON), the umbrella body of Bureaux De Change (BDCs) has just completed a comprehensive course on the use and deployment of Bank Verification Number (BVN) Validation Portal, made possible by the Nigeria Interbank Settlement System.....
BDCs allege banks benefit from their losses
Bureau De Change (BDC) operators have said they are badly affected by the trending “uncompetitive rate”, which comes as the Central Bank of Nigeria (CBN) sells dollars to them at higher rate compared to what it sells to commercial banks.
Bureau de change operators pledge support for IDPs
The Association of Bureau De Change Operators of Nigeria (ABCON) on Tuesday, pledged to assist in reducing the plight of the Internally Displaced Persons (IDPs) in the North-East.
BDCs seek rate cut, list naira recovery path
Operators of bureaux de change in the country, under the aegis of Association of Bureaux De Change Operators of Nigeria (ABCON) have called for exchange rate cut in their segment. They advised the Central Bank of Nigeria (CBN) to immediately take position to ensure that ongoing recovery of the naira against dollar, currently at N367…
BDCs in fresh move to ‘force’ rate convergence
The directors of over 3,000 Bureaux De Change (BDCs) said they are now resolved to fully align with regulator to achieve the elusive rates’ convergence, at its strategic meeting today, in Lagos.
BDCs boss urges better security at nation’s gateways to check illegal cash evacuation
The Association of Bureau De Change Operators of Nigeria (ABCON) has urged the Federal Government to increase security surveillance at the nation’s airports and land borders to checkmate illegal foreign cash evacuation.