Naira Declines Further, Exchanges For 483/$ Over Speculation         The naira exchanged to the dollar for 483 in the parallel market on Monday. This was despite the regular interventions in terms of forex injections by the Central Bank of Nigeria. Bureau de Change operators have blamed the depreciation...

ABCON Kicks Against Speculators Depreciating Naira Forcefully         The Association of Bureaux De Change Operators of Nigeria has warned foreign exchange speculators pushing the naira to forceful depreciation through their illegal activities. ABCON gave the warning in a statement titled, ‘ABCON warns speculators will lose money as...

Retirement Age Increase Aggravates Youth Unemployment — ABCON       Association of Bureaux De Change Operators of Nigeria (ABCON) has cautioned against increasing the retirement age stressing this works against policies aimed at reducing youth unemployment in the country. The Association stated this in its Quarterly Economic Review...

ABCON Urges CBN To Raise BDCs’ Trading Margin     The Association of Bureaux De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN) to increase the margin allowed BDCs on foreign exchange transactions. Making this appeal at a webinar organised by the...

N386/$ New Exchange Rate Not Sustainable - ABCON       The President, Association of Bureaux de Change Operators of Nigeria, Alhaji Aminu Gwadabe, has said that the new exchange rate for the operators to sell forex at N386 cannot sustain their operations. He also said that funding of...

Unified Exchange Rate’ll Attract $25bn Diaspora Remittances – ABCON     The Federal Government’s move to unify multiple exchange rates in the country will attract over $25bn diaspora remittances according to currency exchange operators. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, had recently hinted...