The Central Bank of Nigeria (CBN) has granted a two-week market holiday to the Bureau De Change (BDC) operators. The President, Association of Bureau De Change Operators (ABCON), Aminu Gwadabe, disclosed this in a statement on Thursday, noting that this comes into effect from Friday, March 27.
Mr. Gwadabe said this follows a request which was sent to the apex bank to grant the association market holidays given the ongoing challenges faced in local and global economies due to the impact of the Coronavirus (COVID -19) pandemic. He added that a notice of CBN’s approval was sent to BDC operators and directors, stating that sales of foreign exchange to BDCs is now suspended for a tentative period of two-weeks.
He also advised the public not to go into panic buying, hoarding and patronising street traders as the apex bank has enough reserves to sustain supplies when the BDCs return to operations.