The Association of Bureau De Change Operators of Nigeria (ABCON) has said it will strictly enforce and sanction its members who do not adhere to the regulation to operate within the business hours of 8am to 6pm.
This followed an earlier directive by the Central Bank of Nigeria (CBN) and the National Security Agency (NSA) to licensed Bureau De Change (BDC) operators that their operational business hours must be between 8am and 6pm.
ABCON stated this in a memo to its members titled, ‘CBN’s Directive On Opening and Closing Hours of Business.’
The association pointed out that the directive is with immediate effect and warned its members that any deviation from these stipulated operating hours will result in sanctions.
It also advised all licensed BDCs operating in airports across the country to abide by the regulations of the Nigeria Civil Aviation Authority (NCAA) on business hours.
‘’We wish to bring to your attention on an important directive issued by the Central Bank of Nigeria (CBN) and the National Security Agency (NSA) of the Directive that all licensed Bureaux de Change (BDC) must operate strictly within the operational business hours of 8:00 AM to 6:00 PM, Nigerian time.
‘’This directive is effective immediately, and any deviation from these stipulated operating hours will result in penalties. It is crucial that all members comply with this new regulation to avoid any punitive measures.
“The BDCs operating in all airports are advised to abide by the NCAA regulations on Business hours.
“We appreciate your prompt attention to this matter and expect full adherence to ensure smooth and compliant operations across all BDCs. Thank you for your cooperation,’’ the memo read.
