Forex Supply Shrinks As Dollar Reaches N600 At Parallel Market   The dollar exchanged at N600 on Monday at the parallel market, raising fears of further devaluation of Naira. On Monday, however, the rate at the Importers and Exporters Window was N415.75, making the spread to N184.25. According...

Forex Scarcity: BDCs Fear N300bn Loss, Job Cuts           More than two months after the Central Bank of Nigeria stopped the sale of forex to its licensed Bureau de Change operators, workers in the sector are being laid off over scarcity of forex, findings have revealed. Operators...

AbokiFX: BDCs Halt Exchange Rate Publication, Naira Slides Further             The naira defied all interventions and continued sliding against other currencies, exchanging 580 to the dollar at the parallel market on Monday. The rate was N570/$ on Friday. In another development, the official website of the Central...

Forex: ABCON Bans Street Hawking, Moves To Cut Rate       The Association of Bureau De Change Operators has said it will commence what it called ‘Operation No Street Trading’ to stop the hawking of foreign exchange by BDC operators. The President, ABCON, Alhaji Aminu Gwadabe, said this...

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...

ABCON Seeks CBN Support On BDCs’ Digitalisation     The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria (CBN) to support the migration to digital operations by Bureaux de Change (BDCs). ABCON President, Aminu Gwadabe, in a statement, said BDC...