By; PETER NOSAKHARE, Kaduna
Association of Bureaux De Change (BDC’s), Operators of Nigeria have called on the Central Bank of Nigeria (CBN)⁰, to establish BDCs’ Autonomous Foreign Exchange Trading window with a determined maximum daily limit.
This, according to the association on Friday, will enable eligible BDCs to access dollars from banks, autonomous market, and diaspora FOREX widow at the prevailing market prices.
New Nigeriain gathered that the forex dealers also requested an enhancement of existing BDCs’ automation portals to file transaction returns on CBN/ABCON/Nigerian Financial Intelligent Unit/ Nigeria Inter-Bank Settlement System Plc portals for effective regulatory monitoring and supervision.
The body also canvassed the creation of an automation portal to encourage the registration of undocumented and unlicensed operators for effective monitoring, identification, and tracking of their transactions.
ABCON believes the proposal will save the naira from further decline and enhance exchange rate stability.
This was contained in a statement issued by the BDC operators. The body spoke as the nation continues to grapple with a shortage of forex in the economy.
In the statement, the body claimed that the Naira was exchanging at 596/dollar at the parallel market and 415.83 to the dollar at the official market, creating a rate gap of N180.17 per dollar.
