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Coronavirus: Bureaux De Change Operators Stops Activities For 2 weeks

The Association of Bureaux De Change Operators of Nigeria (ABCON) reports that it has received authorisation from the Central Bank of Nigeria (CBN) to stop all operations for the next two weeks as part of preventive measures to control the spread of the virus.

ABCON president, Aminu Gwadabe, said that the suspension would be effective starting from Friday, March 27th 2020, which then means that forex Trade will also be suspended till further notice. The association was reported to have requested for the suspension due to the increase in the number of confirmed cases of COVID-19 in Nigeria.

ABCON president said that:

“This is to urgently bring to the notices of our members nationwide that following our letter of recommendations to the CBN to grant us a market holiday on our bidding days as a proactive and preventive measure on the scourge of the novel COVID-19 epidemic and the ban on all air/land travels. The CBN has granted our request, effective tomorrow Friday, March 27, 2020, there shall be no market days henceforth for a tentative period of two weeks.”

ABCON president also advised traders:

 “We also want to advise members to strictly comply with their regulatory obligations on their daily operation. If you are trading be cautious not to fall under the hand of security agencies, don’t be involved in giving black market rates, street trading as doing so might create a regulatory breach.” 

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