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Business

CBN Ignored Our Inputs During Issuance Of New Regulatory Framework For BDCs- ABCON

Foreign Exchange traders in Nigeria have accused the Central Bank of Nigeria of ignoring their inputs before releasing the final ‘Regulatory and Supervisory Guidelines...

Business

ABCON vows to check Bureaux De Change operators excesses, attack on naira

The President of the Association of Bureau De Change operators of Nigeria (ABCON), Aminu Gwadabe, reiterated the operators’ commitment to defending the naira from...

Business

Dollar May Sell Below N1,000 As CBN Releases Fresh Forex To BDCs

The Naira may sell below N1000 as the Central Bank of Nigeria has communicated to Bureau de Change Operators about releasing another tranche of...

Business

JUST IN: CBN Crashes Dollar Further To N1,117.5/$ With Fresh FX Sales To BDCs

The Central Bank of Nigeria has again crashed the dollar to N1,117.5 with another sale of foreign currency (FX) to Bureau de Change dealers.The...

Business

ABCON explains reasons for naira’s recovery

The Association of Bureau de Change Operators of Nigeria (ABCON) has identified the ongoing recovery and stability of the naira on the decision of...

Business

CBN Excludes Over 4,000 BDCs, Says Only 785 Operators Qualify For $20,000 Weekly Intervention

The Central Bank of Nigeria has instructed Bureau de Change sellers not to sell above one per cent of the above purchase rate from...

Business

EXCLUSIVE: CBN May Reduce N2bn Capitalisation Requirement For BDCs, As ABCON Set To Submit Input On New Regulation

After resuming forex intervention to Bureau de Change Operators (BDCs), the Central Bank of Nigeria (CBN) is willing to lower the N2bn capitalisation requirement...

Business

EXCLUSIVE: CBN To Resume $20,000 Weekly Dollar Intervention To BDCs On Monday, Abandons Willing Buyer, Willing Seller Policy

Following pressure on the naira, the Central Bank of Nigeria (CBN) will resume its weekly dollar intervention to qualified Bureau de Change Operators (BDCs)....

Business

ABCON Blames Naira Depreciation On Illegal BDC Operators, Says Association Unhappy With Forex Crisis

The Association of Bureau de Change Operators (ABCON) of Nigeria has said that it is not responsible for the crash of the naira at...

Business

Forex Crisis: ABCON Directs BDC Operators To Stop Buying Dollars Above N900

Bureau de Change dealers across Nigeria may be planning a surprise disruption in the foreign exchange market as they have reached an agreement to...

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