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BDC Operators Shut Down Business In Abuja

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BDC Operators Shut Down Business In Abuja

The Abuja chapter of Association of Bureau De Change (BDC) Operators has announced the closure of their business premises indefinitely from Thursday, February 1, 2024.

The chairman of the Association, Abdulahi Dauran, told Leadership Newspaper that the scarcity of US Dollars was responsible for their decision, adding that online banking transactions and cryptocurrency were behind the scarcity of dollars.

Recall that on Tuesday, the value of the Naira worsened as the drop to N1,482.57 per US Dollar at the official market was higher than the N1,470 quoted at the parallel market.

The closing rate at the Nigeria Autonomous Foreign Exchange window (NAFEX) closed on Tuesday night at N1,482.57 to the dollar, a bit higher than N1,460 that the greenback sold on the streets.

However, on Wednesday, as a possible solution to the continued fall of Naira at the forex market, the Central Bank of Nigeria (CBN) released fresh guidelines to commercial banks against foreign currency speculation and hoarding.

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