By Peter Egwuatu

The Association of Bureaux De Change Operators of Nigeria (ABCON) has appealed to the Central Bank of Nigeria (CBN) to rescind its decision to shut out its members from the apex bank’s forex window.

The group disagreed with claims that naira has remained largely stable and converging following the stoppage of dollar allocation to the BDCs.

According to ABCON NEC, BDCs remain the most potent tool for the CBN to achieve its foreign exchange rate management.

“Our position to CBN is that our members should be considered in whatever mechanism of dollar supply to the end-users as it is done in other countries instead of a total blanket removal from the market. We, therefore, reject the statements claiming that the naira exchange rate has improved following stoppage of dollar sales to BDCs and urge our members to ignore those pronouncements,” it said.

The ABCON NEC said it will continue to take steps that ensure that the business of its members are restored and operators continue their legitimate operations as is done in other parts of the world.

“We the EXCOS are not sleeping on our responsibility to ensure that our members’ businesses are sustained. We, therefore, call on all our members to continue to ignore statements against the BDCs and continue to give us the necessary support in ensuring normalcy is restored to the market “ the statement said.