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forex traders

Money market

ABCON rejects proposal to increase minimum capital requirement for forex traders

The Association of Bureau De Change Operators of Nigeria (ABCON) has maintained that BDCs do not need more than the approved N35million capital base to operate efficiently and profitably. This is coming against the backdrop of earlier reports that the…

NewsDirect
October 23, 2023

Money market, Top Story

Naira plunges in parallel market as forex traders sell at N1045/$1

By Sodiq Adelakun Naira’s decline in the parallel market has been a cause for concern as demand consistently outpaces supply. Forex traders are now selling at N1045 to the dollar, indicating a growing scarcity. This has resulted in a significant…

NewsDirect
October 13, 2023