Lagos – Alhaji Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria (ABCON), says the BDCs have started funding their accounts in anticipation for Forex sale with Travalex.
Gwadabe told newsmen in Lagos on Monday that the new arrangement would require BDCs keying into a new biometrics with Travelex, an International Money Transfer Organisation (IMTO).
According to him, the process of biometric registration and funding of accounts will take a couple of days to be rounded off.
The ABCON chief said that the selling of Forex by Travelex would bring a new dynamic into the Forex market that would ease the liquidity challenge in the market.
He said that the naira would soon be on its way to recovery with the coming on board of Travelex into the Forex transaction and distribution chain.
Mr Harrison Owoh, a BDC operator, expressed delight that the Central Bank of Nigeria (CBN) had Okayed the sale of Forex by Travelex to BDCs.
Owoh called on BDCs to key into the new arrangement by ensuring that they got themselves registered on Travelex biometrics.
