Forex Speculators To Lose N100bn — ABCON       Foreign exchange (forex) speculators will lose over N100 billion in the next one month as the Central Bank of Nigeria (CBN) sustains massive funding for Bureaux De Change (BDC) operators. The President of the Association of Bureaux De Change...

Diaspora Remittances: ABCON Advocates Measures To Counter Cryptocurrencies       Association of Bureaux De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN) to introduce measures that will counter the advantages of cryptocurrencies exchanges as a channel for diaspora remittances. Making this call...

ABCON Seeks CBN’s Approval For Training Institute       The president, Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe has appealed to the Central Bank of Nigeria (CBN) to approve the association’s proposed training institute to provide capacity for its members. He made the appeal...

BDCs Record N1trn Turnover, Seek Diaspora Remittances Agency       The Association of Bureaux de Change Operators of Nigeria has said that its annual turnover is now N1tn. The President, ABCON, Alh Aminu Gwadabe, said this during a virtual event with the theme ‘BDCs’ operations: A trillion-naira sub...

Naira Crashes To N485/$1 At Parallel Market       The naira crashed to N485 to a dollar on Tuesday from the previous N475/$1 range at the parallel market. This is in spite of the Central Bank of Nigeria (CBN) warning that forex speculators and hoarders will be punished. It...

BDC Operators Declare War Against Currency Speculators       The Central Bank of Nigeria (CBN)-licensed Bureau De Change (BDC) operators have declared operational war against foreign exchange speculators and black market dealers whose activities they accused of distorting the foreign exchange (FX) market. This came as the dollar...