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CBN boosts forex market with sale of $20k to BDCs

The Central Bank of Nigeria (CBN) has approved another sale of foreign exchange to eligible Bureau De Change (BDC) operators at N1,590 per dollar...
Business

CBN approves sale of dollars to eligible BDCs at N1,450/$1

In a bid to meet the demand for foreign exchange transactions, the Central Bank of Nigeria (CBN) has approved the sale of foreign exchange...
Business

Forex Scarcity Deepens As CBN Resumes Dollar Sales To BDCs

… As Naira Falls To N1,640/USDThe Central Bank of Nigeria has resumed foreign exchange sales to Bureau de Change operators as FX scarcity deepens. THEWHISTLER...
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

CBN Withdraws All BDC Licenses, Gives 6 Months Deadline To Recapitalise With N2bn

The Central Bank of Nigeria has withdrawn all Bureau de Change licences as it orders forex traders to reapply for fresh permits.The operators are...
News

Again CBN says $2.4bn of $7bn forex claim fictitious

The Central Bank of Nigeria (CBN), on Monday reiterated its position that about $2.4 billion out of the claimed backlog of $7 billion forex...
Business

Nigerian Bureaux De Change operators push for unified retail FX market

The Association of Bureaux De Change Operators of Nigeria (ABCON) has announced plans to create a unified structure for the retail end of the...
Business

Amid FX reserves depletion, CBN to sell $10,000 to BDCs at N1,021/$

Amid a depleting foreign exchange FX reserve, the Central Bank of Nigeria has announced the resumption of sales of dollars to Bureau De Change...
Business

CBN sells dollars to BDCs below market rate at N1,101/$1, in continued defence of naira

In continuation of its defence of the naira against the dollar, the Central Bank of Nigeria (CBN) Monday announced the sales of foreign exchange...
Business

Nigeria’s FX reserve dips by $1.02b in 18 days as CBN continues to defend naira against dollar

By: Babajide OkeowoFollowing the resumption of sales of dollars to Bureau De Change (BDCs) operators in a bid to defend the domestic currency against...
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