Gist

‘Rice And Beans, Slow Down, Deep Freezer, JJC’ – Funny Names Of Some BDC Operators In Nigeria

Published

28 February 2024

12:02 PM

BDC Operators Identify Those Causing Naira To Depreciate Against The Dollar, Reveal Next Line Of Action

Bureau De Change (BDC) operators are essential stakeholders in the foreign exchange market in Nigeria as the average Nigerian sources their forex needs from the black market.

According to data from the Central Bank of Nigeria (CBN), the number of BDC operators in Nigeria has grown from a modest figure of less than 100 in 2005/2006 to about 5,690 currently in 2024.

These registered BDC operators have a weekly sale of over $110 million to them by the CBN. This is based on the CBN decision in 2006 to sell cash directly to the BDCs as part of the liberalization programme to ensure adequate supply to the sector and hence the convergence of the BDC and inter-bank rates.

However, an analysis by The Cable shows that some of the BDCs have funny and unusual names.

Here are some of the unusual names of approved BDC operators in Nigeria:

CCTV BDC LTD

Chelsea BDC LTD

Couple BDC LTD

Cream BDC LTD

Cruising BDC LTD

Day-by-day BDC LTD

Deadlist BDC LTD

Decorum BDC LTD

Deep Freezer BDC LTD

Divine Focus BDC LTD