Bureau De Change Operators Denies Rumors Of Shutting Down Operations In Abuja

Bureau De Change Operators Denies Rumors Of Shutting Down Operations In Abuja

The Association of Bureau De Change Operators of Nigeria (ABCON) has refuted rumours circulating that it instructed the closure of operations in Abuja.

Reports earlier suggested that foreign exchange black market operators in Abuja abruptly ceased trading, attributing the decision to instructions from their union and the significant depreciation of the Naira against the US dollar at the official market.

In response to the claims, ABCON issued a circular on February 1, 2024, titled “Clarification On No Sales Policy/Shutdown Of Market In Abuja.”

The circular dispelled the development, urging its members to continue their day-to-day activities strictly following guidelines.

The circular was signed by the national president, Alhaji Aminu Gwadabe, and regional chairman of the North Central, Alh. Shehu Mahmud emphasized the importance of promptly addressing misinformation to prevent panic and confusion among the public, businesses, and investors.

The statement clarified that the information about the alleged shutdown did not originate from the central body or the zonal council of ABCON.

It reassured members that, as professional and licensed Bureau De Change operators guided by Central Bank of Nigeria regulations, proper procedures and channels would be followed for communicating grievances.

The circular urged members to remain law-abiding and continue their operations smoothly, emphasizing that the Association had given no directive to shut down operations.

ABCON called on members to help correct any misconceptions by disseminating this information through relevant channels.

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