As part of efforts towards ensuring transparency in the foreign exchange market, Travelex Nigeria Limited, a subsidiary of Travelex UK, in collaboration with the Central Bank of Nigeria (CBN) and the Economic & Financial Crimes Commission (EFCC) has concluded plans to engage the Bureau De Change (BDCs) on international best practices. In a national seminar on best practices in the BDC segment of the foreign exchange market in Nigeria, schedule for tomorrow in Lagos, a major cooperation between Travelex, the CBN, and key financial services regulatory authorities in the country will be discussed. Key presenters at the seminar are the CBN Deputy Governor on Financial System Stability Directorate of CBN, the Chairman Economic & Financial Crimes Commission, DG Nigeria Financial Intelligence Unit (NFIU), Managing Director/CEO Nigeria Inter-Bank Settlement System (NIBSS) as well as the President of ABCON alongside experts and technical personnel from Travelex UK. According to a statement signed by Anthony Enwereji, General Manager, Travelex Nigeria, some of the topics to be discussed include: BDCs and anti-money laundering laws and regulations; detection and prevention of illicit financial flows in election year; international best practice in BDCs operations: How BDCs work in order climes; standard reporting guidelines on BDC returns; application of IT in facilitating BDC operations’, and ‘Practical effects of CBN policies on BDC operations’.

http://www.akelicious.net/2018/09/travelex-cbn-efcc-partner-on-best.html