The Central Bank of Nigeria (CBN) has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators

Again, Dollar Strengthens Against Naira, Now N1,350/$ The naira further depreciated to N1,350 per dollar at the parallel section of the foreign exchange (FX) market on Monday. The current FX rate represents a 2.27 percent decline from N1,320/$ traded on April 26. Currency traders, known as bureau...

ABCON Backs CBN on Non-eligibility of Non-export Dom Accounts as Collateral for Naira Loans The Association of Bureau De Change Operators of Nigeria (ABCON) has expressed its support for the Central Bank of Nigeria (CBN)'s recent directive to cease the use of non-oil export domiciliary...

ABCON Reveals Why Naira Regained Strength at FX Market   The Association of Bureau De Change Operators of Nigeria (ABCON), has revealed why the Naira is regaining strength against the dollar. “The development stems from the ‘double-edged sword dollar liquidity injection and the mopping up of the...

Naira Slumps Further , Exchanges 1,190/$ The naira has maintained its downward trend as scarcity of the dollar bites harder. At the parallel market, naira commenced trading at 1,175/$ and closed at 1,190/$ on Friday. Two weeks earlier, the naira had traded at 1,100/$ at the parallel...

Forex Scarcity Drags Naira to N950/dollar Naira fell further to the dollar after closing at 950/$ at the parallel market on Wednesday. The naira which had earlier closed at 930/$ at the close of operations on Tuesday, was bought and sold at 935/$ and 950/$ on...