Bdcs are regulated by the apex bank and as such they are expected to carry out their dealings in line with the monetary policy of the cbn. All over the world there are bdc operators and they play different roles one of which is to ensure forex availability to the critical retail sector of the forex market in terms of supply to bridge the gap between the official and the parallel market exchange rate.
Procedures To Starting Bureau De Change Business In Nigeria Bdc Licence Buzybrains
Bureau de change licence in nigeria is gotten from the central bank of nigeria.
Nigeria bureau de change. It is a business where people exchange currency for another. A bureau de change bdc sector has remained an important unit of the nigerian financial market playing a crucial role in exchange rate stability and job creation. Usd 477 eur 579 and gbp 648.
Association of bureaux de change operators of nigeria abcon and all its members are pleased to inform nigerians that the association is now better positioned to provide professional services for foreign exchange transactions across the country. You also will need equipment such as money safes computers office furniture computers and cash tills. Bureau de change bdc is any company that is licenced by the central bank of nigeria cbn to carry out small scale foreign exchange business in nigeria.
Bdc exchange rates for naira today are. Get daily bureau de change bdc exchange rates from dollar to naira pounds to naira and euro to naira. A bureau de change is a retail foreign exchange dealer safe to say a bureau de change buys and sells currencies it is indeed a very lucrative business but just like any other financial institution it s running and activities are regulated primarily by the central bank of nigeria cbn.
A bureau de change bdc is a licensed outfit by the central bank of nigeria cbn. Usd 471 eur 570 and gbp 640. You will also need to choose premises that attract passing trade such as a kiosk or small office.
Todays exchange rate in naira.
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