ABCON urges CBN to grant BDCs digital autonomy

The Association of Bureaux De Change Operators of Nigeria has urged the Central Bank of Nigeria to grant Bureaux De Change operators digital autonomy to achieve exchange rate convergence.

In a statement on Sunday, the President, ABCON Dr. Aminu Gwadabe, called on the apex bank to grant a no-objection approval for the BDCs to fully go digital on all their operational correspondences.

He said the move would promote rate convergence, curb volatility in the market and promote economic growth.

ABCON had in the past, led its members to achieve rate convergence in 2006, 2009, 2018 to 2020 before the outbreak of COVID-19 in 2020, he said.

Source: punch