The Association of Bureau De’Change Operators of Nigeria has concluded plans to automate its trading operations to eliminate the activities of market speculators and street traders.
This was revealed that ABCON President, Aminu Gwadabe, speaking in an interview with reporters said the association has developed an automation platform, which, if okayed by the Central Bank of Nigeria, would help revolutionise the retail FX market.
Gwadabe added that the automation process will be launched in three weeks pending a “no objection” approval from the CBN.
He noted that, “We have now put a lot of recommendations on how we can at least utilise technology, innovation, and automation in our operations.
“In three weeks, we will automate the system. We already have the automation system in place just for the CBN to give us the approval for “No Objection” that is all we are asking.
This was as the association backed the recent clampdown by the government on persons selling and buying foreign currencies on the streets.
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