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Business

Medical, School Fees, Mount Pressure On FX Market, Naira Slides Further

The Naira has depreciated by 2.5 per cent in one month as pressure from invisible transactions like school fees and medical allowances have destabilised...
Business

ABCON asks CBN to allow non-oil exporters hold FX for 48 hours

The Association of Bureau de Change Operators of Nigeria (ABCON) has asked the Central Bank of Nigeria (CBN) to direct non-oil exporters to hold...
Business

ABCON Set To Automate Forex Trade With Customers, Says Nationwide Raid On BDCs Targeted At Speculators

The Association of Bureau De Change Operators of Nigeria (ABCON) said that the nationwide raid on Bureau de Change traders by security and anti-graft...
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

FX volatility: BDCs’ reintroduction triggers divergent expectations

Barely one month after the Central Bank of Nigeria (CBN), reintroduced Bureau De Change (BDC) in its foreign exchange framework, the parallel market operators...
Business

CBN To Release Fresh List Of Approved Bureau De Change Operators As ABCON Directs Compliance With New Forex Guideline

The Central Bank of Nigeria is compiling a fresh list of approved Bureau de Change Operators and the list will be based on compliance...
Business

INTERVIEW: Forex Crisis: Naira Is Under Attack Because It Lacks Fundamentals–Gwadabe, ABCON President

The Central Bank of Nigeria in its drive to improve the efficiency of the Nigerian foreign exchange market released a circular dated August 17...
News

ABCON urges FG to stop Binance operations in Nigeria to help in strengthening the naira

President of ABCON, Alhaji Aminu Gwadabe, gave the advice in an interview in Lagos.Binance is an online exchange where users can trade cryptocurrencies. It...

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