The Association of Bureau De Change (BDC) Operators’ Abuja chapter has declared that as of Thursday, February 1, 2024, its business location will be indefinitely closed.
The Association’s head, Abdulahi Dauran, explained that the decision was made due to the lack of US dollars, but he also mentioned that the lack of dollars was caused by bitcoin and online banking activities.
According to reports, the value of the Naira at the official end of the market declined significantly, with some trades closing at N1,513 per dollar, even though the Central Bank of Nigeria (CBN) cleared off the verified backlog of foreign exchange claims owed to foreign airlines on Tuesday.
The closing rate at the Nigeria Autonomous Foreign Exchange window (NAFEX) closed on Tuesday night at N1,482.57 to the dollar, a bit higher than N1,460 that the greenback sold on the streets.
On Tuesday, the parallel market maintained its exchange rate, holding steady at N1,460/$1, without any depreciation.
Additionally, the official Investors and Exporters (I&E) Window saw the Naira closing at N1,482.57, reflecting a 9.94% decline or a loss of N133.95 compared to the previous day’s rate of N1,348.62.