THE Association of Bureau de Change Operators of Nigeria (ABCON), has accused the Central Bank of Nigeria (CBN) of plotting to make Travelex, a foreign company the only official outlet for retail foreign exchange transactions in the country.
The association, meanwhile, has said that the Bureaux De Changes (BDC) sub-sector is not the cause of the problem being experienced by the Central Bank of Nigeria (CBN) at the money market.
The Acting President of ABCON, Aminu Gwadabe, at a press conference in Lagos on Friday after a national meeting of the association, regretted that in an attempt to justify its decision to stop sales of dollars to BDCs, the CBN resorted to casting aspersion on BDCs after issuing licenses to the operators.
The CBN, ABCON alleged, has created the impression that all BDC operated are rent seekers, who do nothing but engage in buying foreign exchange (forex) at low prices,keep it in order to sell when the price goes up.
http://newsplus.com.ng/bureau-de-change-operators-cbn-plans-rob-pay-foreign-company/

Problems everywhere