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The Association of Bureaux De Change Operators of Nigeria (ABCON) has solicited the Central Bank of Nigeria (CBN) to include Bureaux De Change (BDCs) in the dollar supply value chain.
This, the group said would enable its members meet dollar demand at the retail end forex market.
In a notice to its members nationwide, ABCON National Executive Council (NEC) appealed to the regulator to revisit the stoppage of dollar sales to BDCs, to bring lasting stability to the naira.
The group disagreed with claims that naira has remained largely stable and converging following the stoppage of dollar allocation to BDCs.
According to ABCON NEC, BDCs remain the most potent tool for the CBN to achieve its foreign exchange rate management.
“Our position to CBN is that our members should be considered in whatever mechanism of dollar supply to the end users as it is done in other countries instead of a total blanket removal from the market. We, therefore, reject the statements claiming that the naira exchange rate has improved following stoppage of dollar sales to BDCs and urge our members to ignore those pronouncements,” it said.
The ABCON NEC said it would continue to take steps that ensure that the business of its members are restored and operators continue their legitimate operations as is done in other parts of the world.
