Report says, Bureau De Change operators have announced the shutting down of operations in Abuja following the unavailability of dollars.
Chairman of the Association, Abdulahi Dauran, revealed this to journalists on Wednesday 31 January 2024.
Recall that earlier, the naira closed at an all-time low of N1,482 against the US dollar on the official window on Tuesday while on the other hand, it remained stable at N1,450/$ at the parallel market.
The chairman attributed the situation to online business transactions and cryptocurrency.
He noted that the closure of business would take effect from Thursday, February 1, 2024.
Meanwhile, this is coming amid fresh moves by the Central Bank of Nigeria to stabilize the country’s dwindling exchange rate.
On Wednesday 31 January, the bank directed all Deposit Money Banks to sell their excess dollar stock beginning from February 1, 2024.
The Apex CBN equally summoned lenders against hoarding excess foreign currencies for profit.
While the new directive also provided a set of guidelines aimed at reducing the risks associated with some inimical practices, officials say, the bank believes some commercial banks hold long-term foreign exchange positions to enable them to gain from the volatile movements of exchange rates.
