The Abuja chapter of the Association of Bureau De Change (BDC) Operators has announced the indefinite closure of their business premises from Thursday, February 1, 2024.
The decision, attributed to the scarcity of US Dollars, has sent shockwaves through the local financial community.
Abdulahi Dauran, the chairman of the Association, cited the unavailability of dollars as the primary reason for the closure. He further pointed to online banking transactions and cryptocurrency as contributing factors to the scarcity of dollars.
The abrupt shutdown has raised concerns about the impact on foreign exchange transactions and the local economy. Market analysts are closely monitoring the situation for potential repercussions on the broader financial market.
The closure of the BDC business premises is expected to remain in effect until a resolution to the dollar scarcity is reached.
