The advice came on the heels of a two-week market holiday granted to the bureaux de change (BDCs) by the
This followed a request by the
In a notice to BDC operators and directors,
Gwadabe also advised the public not to go into panic buying, hoarding and patronising street traders as the CBN had enough reserves to sustain supplies when the BDCs return to operations.
ALSO READ: COVID-19: Stop all physical interviews, Oyo NUJ warns members
Gwadabe added that the CBN had also acknowledged the contributions of BDCs in promoting a stable exchange rate in recent months despite challenging circumstances facing the forex market due to a drop in crude oil prices.
Gwadabe's letter to
Gwadabe advised members to observe strict guidelines on the preventive measures on the dangers of the COVID-19 by wearing their mask, gloves, and frequent washing of hands.
'We also want to advise members to strictly comply with their regulatory obligations on their daily operation. If you are trading, be cautious not to fall under the hand of security agencies. Do not be involved in giving black market rates as doing so might create regulatory breach,' he said.
Gwadabe said that the CBN and Nigerian Financial Intelligence Unit (NFIU) are tracking large movements of funds within the financial sector and urged
© Pakistan Press International, source