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.…
The Central Bank of Nigeria has approved the sale of an additional $10,000 each to 1,583 eligible Bureaux De Change (BDCs) in the country to meet market demands. The Director, Trade and Exchange Department of the CBN, Dr Hassan Mahmud,…
The Central Bank of Nigeria has resumed the sale of foreign exchange to Bureau De Change operators. In this latest move, the apex bank is selling to them at an exchange rate of N1,021 per dollar. Additionally, the CBN has…
…Apex Bank prohibits use of Foreign currency as collateral for loans In a decisive move to tackle currency volatility, The Central Bank of Nigeria has once again announced the sale of dollars to Bureau De Change (BDC) operators, according to…
