Samsi (1990) described bureaux de
change as any organization or firm given the power to transact any business of
buying and selling of foreign exchange. Thus, according to legal recognition to
small dealers in foreign exchange market and thereby enhances the size of the
officially recognized foreign exchange market.
He pointed out that every bureaux de change in Nigeria deals only in
bank noted and coins and the enhancement of traveling cheque or any foreign
bank notes and coins. These currencies are derived only from private sources.
He also highlighted that when government introduced the attention of the
government is the deregulation of the profit margin since deregulation of theme
of the on gong structural adjustment programme and also because the parallel
market is in competition with bureaux de change.