Licensed BDCs sub-sector hits N1trn annual turnover in Nigerian economy ― ABCON

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…

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