Amid the foreign exchange crisis in Nigeria, Bureau de Change (BDC) operators have announced the indefinite closure of their business premises in Abuja from Thursday, February 1, 2024 over FX scarcity.
The Chairman of BDC operators in Abuja, Abdullahi Dauran, disclosed this through a statement on Wednesday.
Dauran stressed that the scarcity of dollars is responsible for their decision to shut down.
He alleged that online business transactions and cryptocurrency are responsible for the scarcity of dollars.
Meanwhile, data from FMDQ showed that the Naira marginally appreciated N1,455.59 per US dollar from N1,482.57 on Wednesday.
The Naira depreciation worsened on Tuesday, dropping to N1,482.57 per US Dollar at the official market was higher than the N1,470 quoted at the parallel market.
Despite the Central Bank of Nigeria’s injection of over $500 million to clear the forex backlog and other interventions, the Naira has continued to tumble against the dollar.
However, on Wednesday, as a possible solution to the continued fall of Naira at the forex market, the CBN released fresh guidelines to commercial banks against foreign currency speculation and hoarding.
