The Association of Bureau De Change Operators of Nigeria has demanded that the Central Bank of Nigeria reverse the new capital requirement for its operations. In a circular issued, the CBN issued fresh guidelines for the operations of the Bureau…
Justice Lewis Allagoa of a Federal High Court in Lagos, on Monday, struck out the charge against 19 Bureau De Change (BDC) Operators, following the withdrawal of the case. The suspects are Ibrahim Jubril, Abdullahi Abubakar, Ibrahim Hassan, Adamu Isiaka,…
By Bushrah Adeshina, Ibadan Operatives of the Economic and Financial Crimes Commission (EFCC) on Wednesday raided Bureau De Change operators in Sabo, Ibadan, over alleged hike in the naira/dollar exchange. It was reported that the Federal Government had directed Nigeria’s…
The Association of Chief Audit Executives of Banks in Nigeria has called for stricter regulations of the fintech space as well as the operations of the Bureaux de Change. The association also hailed the Central Bank of Nigeria over its…
By Sodiq Adelakun Bureau De Change operators in Nigeria have decried the Central Bank of Nigeria’s (CBN) exchange rate policy. Recall that the CBN announced the unification of all segments of Nigeria’s foreign exchange market, consolidating all windows into one On…
As part of its ongoing efforts to check the rising incidence of foreign exchange speculation which has brought pressure on the value of the Naira, the Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa , met…
The Association of Bureaux De Change Operators of Nigeria (ABCON) says the widening gap between the official and parallel market exchange rates was being driven by acute dollar scarcity. The body said this was due to the continued suspension of…
Deposit money banks have witnessed an increase in foreign exchange demand due to the central bank’s ban of forex sale to Bureaux De Change (BDCs). This was disclosed by CBN Deputy Governor, Adamu Edward Lametek in his statement at the…
The Central Bank of Nigeria (CBN) on Thursday says it will start immediate refund of capital deposit to Bureaux de Change (BDC) promoters with pending applications. According to a circular signed by Ibrahim Tukur for the Director, Financial Policy and…
…discontinuation to mount pressure on exchange rate – Analysts at Cordros Research By Ogaga Ariemu & Olaleye Aanuoluwapo, Abuja Members of Bureau De Change (BDCs) operators and importers have expressed shock over the ban of forex sales to BDCs by…
