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ABCON advises BDCs to activate 4,000 official e-mails

Published by The Nation on Mon, 20 May 2019


The Association of Bureaux De Change Operators of Nigeria (ABCON) has advised over 4,500 Central Bank of Nigeria (CBN)-licenced Bureaux de Change (BDCs) to create or activate over 4,000 official/corporate emails on its platform and stop use of Yahoo and Gmail for official communication.Briefing financial journalists on the development in Lagos, ABCON President, Alhaji Aminu Gwadabe, said the advice followed a circular from the Other Financial Institutions (OFIs) Department of CBN, directing all OFIs, including BDCs, to adopt corporate e-mails for their communication with the apex bank.He said: We are also glad to inform the gathering that over 1,000 BDCs in the Southwest have been integrated with the new CBN Forex return rendition platform. In due course, our members in the other zones shall be integrated to achieve online real time return rendition to CBN from the comfort of their offices. ABCON has created over 4,000 official emails on its platform www.abconng.org for its members to enhance compliance.Gwadabe said ABCON proactiveness in the automation of its members operations has paid off as all BDCs now have opportunity to re-active their official e-mails on the ABCON platform. ABCON advises all members to activate their emails on the automation platform to enable them comply with the CBN circular. All members are to visit national and zonal secretariats for further enquiry and assistance, where necessary, he added.The ABCON boss said the rising threats of cyber-security attacks on the financial system means that all stakeholders, including BDCs, must be proactive to protect their data, businesses, reputation and overall operations from cyber attackers.He said e-mails have remained the weakest link on cyber attacks and BDCs under his leadership will continue to upgrade their IT systems to ensure that they are ahead of the cyber criminals.Continuing, he said banks, OFIs, digital wallets and remittance players are prime targets by cyber criminals seeking quick monetisation of stolen credentials.It is, therefore, important that we do not relent in our efforts at protecting this space and increasing public confidence in financial system, he said.
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