L
LequteMan
Guest
Reports have emerged that Travelex, now known for meeting the dollar needs of regular Nigerians, is getting overwhelmed by demand for the greenback.
Travelex was recently appointed sole distributor by CBN to Bureau de Change operators. However, the firm is active in Lagos only, which has a little bit above 1000 licensed BDCs. Nigeria has a total of about 3000 licensed BDCs.
A The Nation report says BDCs in Abuja, Kano, Port Harcourt, Benin, Maiduguri, Onitsha and other major cities are yet to get dollars since Travelex started the distribution role, and that the idea might be faltering.
In addition, Travelex Nigeria General Manager, Anthony Enwereji said the project was a pilot scheme with the policy direction still under study.
He, however added that since Travelex was appointed to sell dollars to BDCs, the naira exchange rate against the dollar has improved.
Travelex was recently appointed sole distributor by CBN to Bureau de Change operators. However, the firm is active in Lagos only, which has a little bit above 1000 licensed BDCs. Nigeria has a total of about 3000 licensed BDCs.
A The Nation report says BDCs in Abuja, Kano, Port Harcourt, Benin, Maiduguri, Onitsha and other major cities are yet to get dollars since Travelex started the distribution role, and that the idea might be faltering.
In addition, Travelex Nigeria General Manager, Anthony Enwereji said the project was a pilot scheme with the policy direction still under study.
He, however added that since Travelex was appointed to sell dollars to BDCs, the naira exchange rate against the dollar has improved.
