BDC Operators Shut Down Business
Category:
Nigeria News
The Abuja chapter of the Association of Bureau De Change (BDC) Operators has
declared the indefinite closure of their business premises, effective from
Thursday, February 1, 2024.
Abdulahi Dauran, the chairman of the Association, attributed their decision to the closure to the shortage of US Dollars. He further mentioned that the scarcity of dollars was influenced by online banking transactions and the prevalence of cryptocurrency.
Despite the Central Bank of Nigeria (CBN) clearing the verified backlog of foreign exchange claims owed to foreign airlines on Tuesday, the official market witnessed a considerable decline in the value of the Naira, with some transactions concluding at N1,513 per dollar.
Abdulahi Dauran, the chairman of the Association, attributed their decision to the closure to the shortage of US Dollars. He further mentioned that the scarcity of dollars was influenced by online banking transactions and the prevalence of cryptocurrency.
Despite the Central Bank of Nigeria (CBN) clearing the verified backlog of foreign exchange claims owed to foreign airlines on Tuesday, the official market witnessed a considerable decline in the value of the Naira, with some transactions concluding at N1,513 per dollar.
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