The Bureau de Change (BDC) operators in Abuja have declared the indefinite closure of their business premises starting from Thursday, February 1, 2024. The announcement, made by the Association's Chairman, Abdulahi Dauran, cites the scarcity of dollars as the primary reason for this decision.
Dauran elaborated, attributing the dollar shortage to the impact of online business transactions and the rise of cryptocurrencies. This unforeseen closure raises concerns about the accessibility of foreign exchange in the capital city, as BDCs traditionally serve as key intermediaries in currency exchange.
The move reflects the challenges faced by BDC operators amid evolving trends in financial transactions, underscoring the influence of digital platforms on traditional currency exchange mechanisms. The closure raises questions about the broader implications for businesses and individuals relying on BDC services
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