WorldStage Newsonline– The Association of Bureau De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria (CBN) to review downward their buying rates and make their transactions VAT exempted.
Alhaji Aminu Gwadabe, the president of ABCON in Lagos on Wednesday that, “We ask the CBN to hasten the approval of our request for an institute of Foreign Exchange Retailers.
“Extend deadline for the submission of payment for renewal licences and audited accounts.
“We urge the CBN to also approve license for BDC live trading FX platforms.”
Gwadabe said ABCON had taken measures to ensure that its members imbibe the culture of transparency in transactions and corporate governance as sensitisation workshops had been organised for its members across the nation to avoid any infringements on the requirements of the CBN.
According to him, the association’s strategic partnership with the CBN demands that BDCs carry out their transactions transparently to avoid misleading figures during documentation.
He noted that the association remained focused in partnering with the CBN to ensure that the naira remained stable at the foreign exchange market.
