Bureau De Change (BDC) operators under the aegis of the Association of Bureau De Change Operators of Nigeria (ABCON) says that they are constrained from purchasing foreign exchange from the banks.
The BDC operators attributed this to the recent situation where the exchange rate at the parallel market is trading lower than the interbank proceeds sales to the BDCs.
This disclosure is contained in a chat with the ABCON President, Aminu Gwadebe, on Wednesday, March 5, 2025, where he noted that the naira now enjoys some gains and stability in the forex market.