ABCON charges BDC operators on corporate governance, customer service
Association of Bureaux De Change Operators of Nigeria (ABCON) has charged BDC operators to increase efforts to ensure sound corporate governance practices and improved customer service in their operations.
ABCON President, Dr. Aminu Gwadabe gave this charge in Lagos at the opening session of 2021 Annual ABCON nationwide training on BDC operations.
Gwadabe stated that the training is organised in partnership with the Central Bank of Nigeria (CBN), the Nigeria Financial Intelligence Unit (NFIU), with the aim of improving professionalism and higher compliance level in the BDC sub-sector as well as enhanced service delivery to forex end users.
He stated that BDCs occupy a very important position and play critical roles in the nation’s foreign exchange market which are germane to achieving stable exchange rate and easy access to foreign exchange for members of the public in a conducive environment.
Gwadabe said, “BDC operators must be adequately informed and effectively equipped with the right professional skills and mindset to discharge their duties as required by the laws of land and the industry.
“Thus, the need for BDC directors and staff to be continuously exposed to quality capacity building programmes carefully designed to enhance their ability to professionally discharge their duties to forex end users and to the regulators”.
The above, according to the ABCON president, informed the decision of the association to partner with the CBN, NFIU and other security agencies to organise the annual nationwide training on BDC operations.
Gwadabe added, “The training will be executed by a team of highly experienced professionals from the CBN, NFIU and other organisations. The training, which will hold from May 24 to June 30 in four locations across the country, involves a careful designed course content which includes daily and monthly report rendition; monthly balance sheet report and annual audited account; corporate governance; fit and proper check in directors appointment ; anti money laundering/counter financing terrorism policy; obligations of compliance officer; reporting on GOAML and NIL-Report platform; ABCON compliance requirements by members.”
Exhuming confidence that the training will lead to improved professionalism and higher compliance level in the sub-sector as well as enhanced service delivery to forex end users, Gwadabe urged participants to be prompt in applying the knowledge and lessons acquired from the training to improve on their customer service and enhance their corporate governance practices so as to ensure increased public confidence in BDCs as well as enhance the role and importance of the sub-sector in the quest of the CBN for a stable exchange rate in the country.
