Currency traders under the aegis of the Association of Bureau De Change Operators of Nigeria (ABCON) have warned that forex speculators will resist the rapid appreciation of the naira to cover their losses. They, however, urged the Central Bank of…
Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) have arrested thirteen fake bureau de change operators in Lagos. They were arrested for operating BDC without an appropriate licence. The suspects are Abdulahi Musa, Garba Abdullahi,…
Contrary to circulating reports on social media platform X (formerly Twitter), Bureau De Change (BDC) operators have vehemently denied claims of the dollar selling at N1,000 in the parallel market in Abuja. The viral post on X (formerly Twitter) alleged…
Transactions on the stock market closed negative on Tuesday for the second day, depreciating further by 1.38 percent in reaction to the outcome of the Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN). Recall that CBN,…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has introduced new regulations for Bureau De Change (BDC) operators in an effort to curb excesses and bring stability to the foreign exchange market. Under the revised regulatory framework, foreign exchange…
The Central Bank of Nigeria (CBN) is set to crack down on Bureau De Change (BDC) operators involved in illegal transactions. The apex bank has completed an investigation into one BDC called Crown Agent and will soon take action against…
The Lagos State Police Command has arrested six Bureau De Change (BDC) operators for allegedly conspiring to abduct an eight-year-old child of their colleague. Disclosing this in a terse statement tweeted on Tuesday, the Police spokesman in the state, Benjamin…
By Matthew Denis, Abuja Barely a month when the Central Bank of Nigeria (CBN) restricted sales of dollars to the Bureaux De Change Operators across the country, findings by Nigerian NewsDirect correspondent revealed that Dollar has continued to be on…
