The Abuja chapter of the Bureau De Change (BDC) operators has announced the closure of their business premises with immediate effect, citing dollar scarcity as the primary reason.
In a statement issued by the association’s chairman, Abdulahi Dauran, on Wednesday, January 31, 2024, the closure is set to remain in effect until further notice.
The decision to suspend operations was driven by the acute scarcity of dollars within the BDC operators’ area of operations.
According to Dauran, the scarcity has severely impacted their ability to conduct foreign exchange transactions effectively.
Bureau De Change operators in Abuja have attributed the dollar shortage to several factors, including the increasing prevalence of online business transactions and the growing penetration of cryptocurrencies in the financial market.
These developments have contributed to a decrease in the availability of physical dollars in circulation, leading to challenges for BDC operators in meeting the demands of their customers.
