CBN Grants Two-Weeks Market Holidays To Bureau De Change Operators

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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.

Mr. Gwadabe said this was due to the impact of the Coronavirus (COVID -19) pandemic.

In the statement, he said: “This is to urgently bring to the notice of our members nationwide that following our letter of recommendation 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 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,” the statement read in part.”

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.

The ABCON President advised members to observe strict guidelines on the preventive measures on the dangers of the COVID-19.

Gwadabe said that CBN/NFIU is tracking large movements of funds within the financial sector and the need to be cautious.

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