ABCON Seeks CBN Support to Boost Forex Inflows and Stabilize Naira

The Association of Bureau De Change Operators of Nigeria (ABCON) is urging the Central Bank of Nigeria (CBN) to assist in empowering licensed bureau de change operators to enhance foreign exchange inflows and stabilize the Naira, especially during the festive season. ABCON President, Dr.

Aminu Gwadabe, emphasized the importance of BDCs in capturing diaspora remittances and improving market liquidity. Gwadabe highlighted the significant role of diaspora inflows during the festive period, known as the "December season," in boosting the economy.

He called for CBN's support to democratize access to the retail forex market and strengthen the BDC sector.