The Association of Bureau de Change Operators of Nigeria (ABCON) has announced plans to launch a unified digital trading platform.
Speaking to TimesNow.com.ng, Aminu Gwadabe, ABCON president, said the move will help achieve a unified retail end forex market operation.
He added that the platform will help address concerns over undocumented and unregistered platforms like Binance and Bybit.
The ABCON president also revealed a plan to create automation policies and platforms for all BDC operations in Nigerian markets.
His words:
Furthermore, ABCON plans to unveil an upgraded version of its SAAZ MASTERS platform, designed to enhance members’ efficiency and effectiveness in meeting regulatory obligations.
He said:
TimesNow.com.ng earlier reported that the Nigerian currency depreciated in the parallel and official markets on Thursday, May 9, 2024.
Traders sold the naira at N1,459 per dollar in the official market, indicating a loss of N38.67 to the dollar.
On Wednesday, May 8, 2024, the naira traded at N1,455 per dollar, compared to the previous rate of N1,421.06.
Source: TimesNow.com.ng
