Licenced Bureaux De Changes (BDCs), which has grown to become a sub-sector in the Nigerian economy, has attained a N1 trillion annual turnover.
President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji Aminu Gbadabe made this known on Tuesday during the association’s Annual General Meeting held via Zoom.
The event titled: “BDCs operations: A trillion naira sub-sector, issues of formalization, regulations and way forward,” is to reiterate the key roles and position of the BDC sub-sector in the Nigerian economy as well as highlight constraints and challenges faced by the BDC operators.
According to Gwadabe, BDCs have ensured that the market gained the needed liquidity that has ensured the exchange rate remains stable and illegal operators are put out of business.
Details later…
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
We Have Not Had Water Supply In Months ― Abeokuta Residents
In spite of the huge investment in the water sector by the government and international organisations, water scarcity has grown to become a perennial nightmare for residents of Abeokuta, the Ogun State capital. This report x-rays the lives and experiences of residents in getting clean, potable and affordable water amidst the surge of COVID-19 cases in the state…Licensed BDCs sub-sector Licensed BDCs sub-sector
Selfies, video calls and Chinese documentaries: The things you’ll meet onboard Lagos-Ibadan train
The Lagos-Ibadan railway was inaugurated recently for a full paid operation by the Nigerian Railway Corporation after about a year of free test-run. Our reporter joined the train to and fro Lagos from Ibadan and tells his experience in this report…Licensed BDCs sub-sector Licensed BDCs sub-sector