ABCON seeks benefits for official remittance channels
The Association of Bureaux De Change Operators of Nigeria has called on the Central Bank of Nigeria to introduce measures that will counter the advantages of cryptocurrencies exchanges as a channel for diaspora remittances.
In its quarterly economic review report for the first quarter of 2021, ABCON said such measures were necessary to redirect diaspora remittance inflow away from cryptocurrency exchanges to official channels.
Though the association commended the CBN for the N5/$ rebate scheme introduced to encourage diaspora Nigerians to use official channels for remittance transfer, it said the apex bank needed to address other issues driving the patronage of cryptocurrency exchanges for remittance transfer.