Abcon

ABCON said its position was against the backdrop of the recent decision of the Federal Government to increase the retirement age of teachers from 60 to 65 years.

The ABCON has also defended CBN policy on foreign exchange allocation to BDCs, which it believes has stabilised the naira against the dollar.

The Association of Bureau De Change Operators of Nigeria (ABCON) on Thursday said it had sensitised its members and put in place key measures and actions for COVID-19 prevention and control in readiness to resume operations.

While appreciating efforts by the CBN in ensuring stability in the exchange rate, ABCON said that the factoring of BDCs into the FMDQ floor and Diaspora remittances agencies would ensure long term exchange rate stability in the economy.

Thus, the framework and structure must be developed by the regulatory bodies and ABCON through adequate policies and supervision,” it stated.

ABCON President, Alhaji Aminu Gwadabe, was quoted in a statement at the weekend, to have said the naira would benefit hugely from the deal given the rising influence of the Chinese Yuan in the international market.

Addressing the meeting, ABCON President, Alhaji Aminu Gwadabe appealed to BDC operators saying the Association is already engaging the CBN on the uncompetitive dollar selling rate.

Agnes Mkhonto, co-founder and deputy principal of Hawk Academy was chuffed to be sporting her new Hawk Academy beanie donated by Abcon Group Foundation on Mandela Day.

He said that ABCON has been working assiduously to cover all aspects relating to fight against money laundering and terrorist financing one of which is capacity building for its members and engagement with key stakeholders.

LAGOS – The Association of Bureaux De Change Operators of Nigeria (ABCON) on Saturday urged the CBN to approve the Renminbi (Yuan) disbursements to its members, to deepen the China-Nigeria Swap deal.

Meanwhile, Alhaji Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria(ABCON) said the sustained fiscal discipline of the CBN would impact positively on the stability of the naira.

The President of the Association of Bureau d’Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe has advised the Centre Bank of Nigeria Central Bank of Nigeria (CBN) to reduce its monetary policy rates.