Grant BDCs Digital Autonomy, ABCON Urges CBN The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria to grant Bureaux De Change operators (BDCs) digital autonomy to achieve exchange rate convergence. In a statement on Sunday, the President, ABCON...

Naira Slides Further As Dollar Shortage Hits Banks   The widening gap between the demand and supply of dollars in the banks and at the parallel market has continued to worsen the value of the naira. In less than three weeks, the naira lost N100 after sliding...

Naira Appreciates To N742/$ At Official Market   The naira yesterday appreciated to N742/$ at the Investors and Exporters (I&E) window. The closing rate represents a major rebound from Tuesday’s N768/$ rate. According to report from FMDQ Exchange, the naira opened at N764/$ and traded tightly around...

ABCON Cautions Against Policies That May Worsen Inflation Impacts   Association of Bureaux De Change Operators of Nigeria (ABCON) has cautioned the federal government against policies that can worsen the impact of upward inflationary trend on the populace. The association gave this warning in its Quarterly Economic...

BDCs Suspension Worsening Dollar Scarcity - ABCON   The Association of Bureaux De Change Operators of Nigeria (ABCON) said that the widening gap between the official and parallel market exchange rates is driven by acute dollar scarcity due to the continued suspension of foreign exchange sales...

BDCs Seek CBN’s Support To Meet FX Demand   The Association of Bureaux De Change Operators of Nigeria (ABCON) has solicited the Central Bank of Nigeria’s (CBN) support in ensuring that Bureaux De Change (BDCs) continue to sell dollars to retail end forex buyers. In a notice...