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Nigeria In One Minute

More hurdles as banks’ suspension of BDC accounts lingers



NOT a few financial market experts are shocked by the banks’ suspension of Bureau de Change (BDC) operations over taxes on turnover volumes.

But, many of the BDCs that have faced tougher challenges, including the battle for margin raise, which the Central Bank of Nigeria (CBN) has granted, the new war will, like others before them, give way.

It was learnt that many banks are writing to BDCs and implementing a ‘Post No Debit’ order on the operators’ accounts making it difficult for them to sustain their businesses..

The Nation, August 27, 2018


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