Customers stranded as Bureau de Change closes market over dollar-naira rate

Bureau de Change operators have shutdown operations over the surge in the price of the dollar

Members under the Abuja Bureau de Change Association of Nigeria who operate in Zone 4, Abuja, a hub for black market foreign exchange have also shutdown operations.

Major areas for sourcing foreign exchange in Abuja such as the Zone 4 Plaza, Musawa Plaza, Bulama House, Fabdal Plaza and Baura House are all closed for business.

The shutdown will last only for 24 hours, and normal activities will resume on Friday if the market responds positively to the action.

The association’s taskforce are all out to ensure compliance and arrest operators selling or buying forex. Customers who are eager to buy or sell dollars are being sent back by the union’s taskforce.

Dollar spike: “The dollar is on the rise today, and every Nigerian is blaming the BDC operators. They said we are responsible. So, we want to show our innocence using this action. We want to see if the naira will appreciate. But if the government cannot help the situation, then who are we as middlemen? So, we can’t guarantee the condition of the naira but we are not pleased with the way things are going. We decided to take this action because we want to show the government our concern and that we have no hands in the rise in dollar.” — BDC operators on 24-hours shutdown.