ABCON suspends Amazon BDC over alleged infraction

 Alhaji Aminu Gwadabe

Alhaji Aminu Gwadabe

Sequel to the recent arrest of six persons, including a Bureau De Change (BDC) operator by the Nigerian Drug Law Enforcement Agency (NDLEA) for allegedly swallowing $156,000 intended for export to Brazil, the Executive Council of the Association of Bureau De Change Operators  of Nigeria (ABCON), yesterday, announced an indefinite  suspension of the Amazon BDC, its directors and staff from all BDC activities.

The association, which described the action as sharp contrast to ABCON’s principles and code of conduct for BDC operators, explained that the disciplinary investigative committee of the body has commenced comprehensive investigations of Amazon BDC’s operations.

Addressing Journalists at a press briefing in Lagos yesterday, the Acting President of the Association, Alhaji Aminu Gwadabe explained that the suspension is pending the outcome of the investigations by the Committee, the NDLEA, EFCC, CBN.

“While this is not to pre-empt the outcome of these investigations, the suspension is to serve as strong warning to all ABCON members that any case of illegality and unethical conduct will be severely dealt with by the Association.

“ABCON is shocked and highly embarrassed by this discovery and the involvement of a BDC operator in such an illegal act. We hereby condemn in its entirety the actions of the Manager of Amazon BDC and hereby state that his actions are sharp contrast to ABCON’s principles and code of conduct for BDC operators. I want to reiterate that ABCON has a zero tolerance for non-compliance with regulatory requirement and for unethical conduct amongst its members.

“It for this purpose that the association created the office of Compliance Officer in its National Secretariat and in all its zonal offices and also provided official vehicles for the compliance officers to regularly pay inspection visits to BDCs under their jurisdictions. Furthermore, the association has a Disciplinary and Investigative Committee that handles all cases of unethical conducts by BDC operators,” the body said in the statement.



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