…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…
The Association of Bureaux Des Change Operators of Nigeria (ABCON), says that the naira redesign policy of the CBN has fuelled the stability of the naira at the parallel market. Alhaji Aminu Gwadabe, President ABCON, stated this in an interview…
President, the Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe has urged the Central Bank of Nigeria (CBN) to use Bureaux De Change (BDCs) as tool in ending multiple rate practices, and ushering in stability in…
…Advocates BDCs’ inclusion in dollar supply mechanisms The Association of Bureaux De Change Operators of Nigeria (ABCON) has solicited the Central Bank of Nigeria (CBN) support in ensuring that Bureaux De Change (BDCs) continue to sell dollars to retail end …
