Business
The Scarcity Of Dollars Cripples BDC Operators in Kano, Abuja
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The Scarcity of Dollars Cripples BDC operators in Kano, Abuja
By Hussaini Sulaiman
The Bureau de Change (BDC) operators have suspended operations in Abuja and Kano over scarcity of US dollars in the country.
The Chairman of BDC operators (Abuja Chapter), Abdullahi Dauran, in a phone interview last night, said the closure of their business premises is indefinite, starting from today.
“We don’t have the dollar and people are accusing us of hoarding it. If we didn’t come to the market, the government should know who they will arrest.
“They involved crypto and Binance into dollar trading; they are the ones pricing it now. Here in Abuja we have told our customers that we will rest a little. We are worried about what is happening. We will come back and open the market, but for now we have closed,” he said.
“The dollar is today traded at less than N900, but the binance and crypto operators will tell you it is N1,400 or thereabout. You cannot sell your own in this case.
“But if government really means development, it should ban them. There was a time when they banned Twitter in the country. This, too, is causing problems and challenges in the country, hence they should ban it”, he stressed.
Another BDC operator in Kano, Nura Usman, who corroborated the development, said the dollar is getting extremely expensive following the federal government’s decision not to release the currency to them.
“The closure of operations will happen in Abuja and Kano. I can’t confirm that of Lagos but the two places are certain. These two make the majority of the market in the country, so the impact will be felt”, he said.
