The Association of Bureaux De Change Operators of Nigeria has strongly condemned terrorism financing, declaring its full support for recent domestic and international enforcement efforts aimed at safeguarding the integrity of Nigeria’s financial system.
The association’s stance follows recent targeted actions by the United States Department of the Treasury’s Office of Foreign Assets Control against certain individuals and entities allegedly involved in facilitating terrorist financing.
In a statement released on Wednesday, ABCON clarified that the recent US sanctions should not be interpreted as a blanket indictment of the entire Bureau De Change sector in Nigeria, noting that the overwhelming majority of licensed operators conduct business in strict compliance with regulations.
“Sanctions are directed at specific individuals or entities based on intelligence and investigations and should not be interpreted as an indictment of the entire BDC industry,” the association stated.
To reinforce its commitment to a clean foreign exchange market, ABCON
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