The Central Bank of Nigeria has granted Bureau de Change operators temporary permission to purchase up to $25,000 weekly in foreign exchange from the Nigerian Foreign Exchange Market, which was launched earlier this month. In a circular dated December 19,…
By Olawale Afolabi The Central Bank of Nigeria (CBN) has dismissed claims that it is selling foreign exchange (FX) to eligible Bureau de Change (BDC) operators at N1,301 per dollar. In a statement posted on X on Tuesday, the CBN…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators from December 3, 2024, to June 3, 2025. Aminu Gwadabe, president of the Association of Bureaux De Change…
With three months left before the deadline set for Bureau De Change (BDC) operators to meet new capital requirements, compliance remains elusive as operators cite stringent conditions. This is raising concerns over the retention of their operating licences. In May…
The Central Bank of Nigeria (CBN), says it has approved 20,000 dollars each for eligible Bureaux De Change (BDCs) at the rate of N1,580 to a dollar. This is according to a statement issued by Dr Williams kanaya, the Acting…
The Central Bank of Nigeria on Thursday sold dollars to eligible Bureau De Change operators at the rate of N1,450 This was disclosed in a statement signed by the acting director of the Trade and Exchange Department at the CBN,…
The Central Bank of Nigeria on Thursday sold dollars to eligible Bureau De Change operators at the rate of N1450 This was disclosed in a statement signed by the acting director of the Trade and Exchange Department at the CBN,…
The Corporate Affairs Commission (CAC) has directed 4,173 bureau de change (BDC) operators to restructure their operations. In a statement during the week, CAC gave the BDCs three months to change their names and objects. On March 1, the Central…
The Central Bank of Nigeria has warned Deposit Money Banks to stop rejecting old and small denominations of the United States dollar bills. CBN threatened that there would be sanctions for rejections. It also urged Bureau De Change operators and…
The President, Association of Bureau De Change operators of Nigeria (ABCON), Aminu Gwadabe, says the BDC operators are committed to wading off attacks on the Naira by speculators. Gwadabe said this in an interview with journalists on Wednesday in Abuja.…
