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Omodele Adigun
In order to help the country tackle money laundering/ terrorist financing,as well as assist members keep records of their transactions, the Association of Bureaux De Change Operators of Nigeria (ABCON) has hired Irish technology experts to hook it on to the platform of the Nigerian Immigration Service (NIS).
This was disclosed yesterday in Lagos by its President, Aminu Gwadabe, during the launch of its live run automation project, with the theme: Digitising Bureaux de Change Operations for Efficiency, Transparency and Regulatory Compliance.
Gwadabe explained that this is part of ABCON initiatives to keep members abreast of the 21st century technology, just as efforts have reached advanced stage to introduce intra-BDCs trading in the country.
“The truth is that the world is going digital, and BDC operators under the current ABCON leadership are committed to staying ahead of the competition by deploying time-tested technology to deliver effective services to foreign exchange (forex) end-users,” he stated. On the Live-Run Operation Portal, he stated that it would automate BDC operations to reduce manual labour among members.
His words : “The objective for making this Live Run operation portal is to enhance BDCs compliance with set regulations and promote market integrity. The portal will sustain transparent transactions in the BDC corridor, boost the morale of operators and ensure continuous operations in ABCON. The ABCON has fully upgraded its Information Communication and Technology (ICT) platforms, to achieve full digitisation of BDCs operations in line with its goal of sustaining transparent operation and prompt rendition of weekly returns to regulatory agencies. Of special note is also the integration of our platform to immigration platform for the verification of international passport.
