The Association of Bureau de Change Operators of Nigeria (ABCON) has asked the Central Bank of Nigeria (CBN) to direct non-oil exporters to hold foreign currencies in their domiciliary accounts for 48 hours.
Aminu Gwadabe, president of ABCON, made this known in a statement on Thursday, while lending the association’s support to the recent directive to stop the use of the non-oil export domiciliary accounts deposits for naira loans.
Ripples Nigeria reports that on April 8, 2024, the apex bank directed all banks to stop the use of foreign currency-denominated collaterals for naira loans.
