BDC to Launch Its Live Run Automation Portal

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The Association of Bureaux De Change Operators of Nigeria ( ABCON ) will tomorrow launch its live run automation portal , in Lagos.

The portal’ s operations are expected to automate all Bureaux De Change ( BDCs ), alongside Nigeria Inter -bank Settlement System (NIBSS ) , Nigeria Financial Intelligence Unit ( NFIU) and Central Bank of Nigeria ( CBN) , to improve the level of compliance with set regulations.

The project  started  from a successful online real -time registration of members that are over 4 , 100 nationwide ,which was followed by the automation of ABCON ’ s operational process , book keeping, issuance of receipt, preparation of accounts, balance sheets , ledgers and sales / purchase registers .

President of ABCON, Aminu Gwadabe also announced that it had received  the apex bank’ s no - objection approval to launch the live run portal .

He noted that the approval shows that the the regulator is focused and committed to achieving a transparent and viable foreign exchange ( forex) market which safe guard's the interest of stakeholders.

According to him , his leadership  will ensure that BDC operators will continue to be ahead of  their competitors by utilizing technology to provide suitable devices to its customers

He also said that the portal will  work towards  transparent transactions in the BDC corridor , ensure continuity in operations and  motivate it's members.