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…
…Naira gains N660 since BDCs’ return to FX market By Seun Ibiyemi The Association of Bureaux de Change Operators of Nigeria (ABCON) has lauded the decision of the Olayemi Cardoso-led Central Bank of Nigeria (CBN) to recall Bureaux De Change…
The Central Bank of Nigeria has issued a circular to Bureau De Change operators (BDCs), informing them that it has sold $10,000 to each BDC at a rate of N1,251 In a circular issued by the CBN, each BDC was…
The Central Bank of Nigeria (CBN) on Tuesday approved allocation of 20,000 dollars to all eligible Bureau De Change (BDC) operators across the country as part of its on-going reforms. Dr Hassan Mahmud, Director, Trade and Exchange Department, CBN, in…
…As Naira depreciates further against the dollar Reports cited by Nigerian NewsDirect have revealed that Bureau De Change Operators are lobbying to resume publication of parallel market rates. Recall that former CBN governor, Godwin Emefiele had stated that BDC operators…
Nigerian Presidential Adviser on Economic Affairs Tope Fasua has urged the Central Bank of Nigeria (CBN) to reduce the number of bureau de change (BDC) operators in the country by 95 percent, from over 5,000 to about 200. Fasua, a…
The Association of Bureaux De Change Operators of Nigeria (ABCON) is seeking the merger of several Bureaux De Change (BDC) operators not recapitalisation of the industry, the group announced on Thursday. The recommendation is to effectively help its corporate governance…
Bureau De Change Operators in Nigeria have agreed with the acting CBN Governor that most transfers conducted by the International Money Transfer Operators (IMTOs) have been diverted and are not being tracked. The acting CBN Governor, Folashodun Shonubi, had earlier…
