By Babajide Komolafe

Aminu Gwadabe, President of Association of Bureaux De Change Operators of Nigeria (ABCON)

THE Association of Bureaux De Change Operators of Nigeria, ABCON, has its restated its commitment to capacity development and compliance with regulatory requirements by bureaux de change, BDC, operators.

Speaking with journalists at the sidelines of a capacity building and sensitisation programme for BDCs in the south west zone, ABCON President, Aminu Gwadabe said that the objectives of ABCON in 2020 includes increased capacity development for BDC operators to enhance compliance with regulatory requirements, stressing that it was the aim of the sensitisation programme.

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He said: “The meeting is about enhancing the capacity of Bureau De Change operations and to also evaluate the outcome of the assessment of the Financial Action Task Force, Inter Governmental Action Group Against Money Laundering in West Africa, GIABA, and the Central Bank of Nigeria, CBN, examination.

“The submission of our audited accounts that have improved tremendously; a lot of members now known the implications of not rendering their audited accounts to the Centra Bank of Nigeria, CBN, and the Federal Inland Revenue Service, FIRS, especially now that the drive of the government is revenue generation. So this is one aspect we want emphasise for members to ensure they belong to the tax net, that they comply with the necessary regulation. Also we have automated our operations; our members are now on our platform which is where they render their returns to the CBN from the comfort of their offices.”

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