A financial services company, VFD Group, says it has the capacity to stay ahead of fluctuating exchange rates as it pushes to expand its operations to cover Nigeria’s Diaspora remittances.

Fielding questions from a NAN correspondent in Lagos on Wednesday, the firm’s chief executive, Nonso Okpala, disclosed the company would expand to key locations within Africa to dominate the remittance space.

“We are looking to be in key locations across Africa so that we can replicate the success of remittances in Nigeria,” Mr. Okpala said.

“We think remittances align with the economic structure because there are a lot of Nigerians in the Diaspora and all these Nigerians have one thing in common, to work hard diligently and to remit funds to support their families back home in Nigeria.”

Speaking on multiple exchange rates, he said every business or sector presents threats and opportunities.

Mr. Okpala explained that the company had built skills set to mitigate the threats in the Bureau De Change sector, having been in operation for 11 years.

“When you are in an industry or sector, there are threats and opportunities that you have to live with.

“In the past 11 years, we have been in this sector, and we have been profitable.

“So, it only means we have been able to understand the threats and manage them and we have been able to identify the opportunities and accordingly took advantage of them,” Mr. Okpala said.

(NAN)