Currency speculators and those hoarding the dollar are expected to lose N700 million this week, as the Central Bank of Nigeria (CBN) sustains its dollar interventions in the interbank market. Speaking on the impending loses, President, Association of Bureaux De Change Operators of Nigeria (ABCON),...

  The Central Bank of Nigeria (CBN) has cleared 3,114 bureaux de change (BDCs) to buy dollars sourced form International Money Transfer Operators (IMTOs). Presdent, Association of Bureaux De Change Operators of Nigeria (ABCON) Aminu Gwadabe who disclosed this, said the IMTOs cash will be purchased...

The Central Bank of Nigeria (CBN) will resume sales of dollar proceeds of international money transfer (IMT) to bureaux de change (BDCs) operators this week even as manufacturers kick against the move. Daily Trust report that the CBN governor, Mr. Godwin Emefiele, disclosed this during...

The naira fell to 497 against the United States currency at the parallel market on Friday as dollar shortages continued to hit the market. Economic and currency experts have predicted that the naira will likely depreciate to over 500 per dollar this year. The President, Association...

The Naira on Tuesday stabilised at N490 to a dollar at the parallel market in spite of speculations that it would depreciate to N500 to a dollar by the end of 2016, the News Agency of Nigeria (NAN) reports. The Pound Sterling and the Euro...

...Meets BDCs over rates convergence The Central Bank of Nigeria has fined Standard Chartered Bank N2billion for foreign exchange infraction, THISDAY report. The bank, according to the source, drew the apex bank’s anger for buying $25million at the official rate and selling same way above the...