CBN Registers 285 More BDCs, Operators Hit 3,432

The Central Bank of Nigeria (CBN) has registered an additional 285 foreign exchange dealers, bureau de change operators, in the country between January and September this year. The Association of Bureau De Change Operators of Nigeria (ABCON) said the exercise would further deepen the retail foreign exchange segment of the market.

According to the apex regulatory agency, as at September 22, 2017, a total of 3,432, as against 3,389 operators confirmed registered in August and far from 3,147 registered in January this year.

Alhaji Aminu Gwadabe, President of the Association of Bureau De Change Operators of Nigeria (ABCON), said the rise in the number of bureau de change in the country would increase foreign exchange in the market while further deepening the retail forex segment of the market.

Photo Caption: CBN LOGO