By Modupe Gbadeyanka
If Nigeria is to achieve a stable exchange rate, then the Bureaux De Change (BDC) operators must be given room to operate in the country.
President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Mr Aminu Gwadabe, gave this indication during a workshop in Lagos.
The ABCON boss in Lagos for the opening session of the 2021 annual ABCON nationwide training on BDC operations and during his speech, he highlighted the importance of members of the group to the foreign exchange (FX) market.
According to him, BDC operators occupy a very important position and play critical roles in the nation’s foreign exchange market, noting that members of the group could make genuine FX users have access to foreign currencies.
Mr Gwadabe said these roles make it necessary 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 further said these roles informed the decision of ABCON to partner with the Central Bank of Nigeria (CBN), the Nigeria Financial Intelligence Unit (NFIU) and other security agencies to organise the annual nationwide training on BDC operations.
He also said the one-week training ending on June 30 holds in four locations across the country.
Business Post reports that the training was put together to ensure that BDC operators have sound corporate governance practices.
It was also organised to improve professionalism and higher compliance level in the BDC subsector and to further enhance the service delivery to forex end-users.
Adedapo Adesanya