At the end of its 2018 national sensitisation for Bureau De Change (BDC) proprietors and regulators, Travelex United Kingdom stated its commitment to improving and sustaining the existing cooperation with Nigeria’s financial sector regulators. This will help reform the BDC sub-sector of the market.
Travelex in collaboration with the Central Bank of Nigeria (CBN) and Economic and Financial Crimes Commission (EFCC), recently engaged the BDCs on international best practices. Mark Smith, the company’s Commercial Director for Africa, was pleased with the outcome of the event. He thanked the CBN and EFCC for partnering with the company to raise the level of compliance and operational best practices in the nation’s BDC sub sector.
The Association of Bureaux de Change Operators of Nigeria (ABCON) were also praised for their efforts in improving the operational efficiency of members through application of IT solutions. Smith said Travelex will show support by increasing its Corporate Social Responsibility efforts through the organisation of more sensitisation and training platforms, to add increased value to Nigeria’s BDC and other foreign exchange related sectors.
The General Manager of Travelex Nigeria Limited, Anthony Enwereji, said the aim of the seminar was to partner with critical authorities, proprietors, and operatives to raise the standard of practice in the Nigeria BDC sector to global standards.