ABCON Restates committed to Compliance, Capacity Devt

ABCON Restates committed to Compliance, Capacity Devt

 The Association of Bureaux De Change Operators of Nigeria, ABCON, has restated its commitment to capacity development and compliance with regulatory requirements by bureaux de change, BDC, operators.

Speaking with journalists at the sidelines of a capacity building and sensitization programme for BDCs in the south west zone, ABCON President, Aminu Gwadabe said that the objectives of ABCON in 2020 includes increased capacity development for BDC operators to enhance compliance with regulatory requirements, stressing that it was the aim of the sensitization programme.

 He said: “The meeting is about enhancing the capacity of Bureau De Change operations and to also evaluate the outcome of the assessment of the Financial Action Task Force, Inter Governmental Action Group Against Money Laundering in West Africa, GIABA, and the Central Bank of Nigeria, CBN, examination.

“The submission of our audited accounts that have improved tremendously; a lot of members now known the implications of not rendering their audited accounts to the Central Bank of Nigeria, CBN, and the Federal Inland Revenue Service, FIRS, especially now that the drive of the government is revenue generation”, he said.

According to Gwadabe, ABCON as group has been emphasizing on   members ensuring they belong to the tax net, that they comply with the necessary regulation.

ABCON boss noted that the association has automated operations as members are now on the association platform which is where they render their returns to the CBN from the comfort of their offices.


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