Naira Gains, Exchanges For N457/$       The naira gained slightly, as it exchanged to the dollar at N457/$ at the parallel market on Tuesday. It had earlier exchanged at N465/$ a week earlier. The President, Association of Bureaux De Change Operators, Alhaji Aminu Gwadabe, said, “The intervention sales...

5,180 BDCs Get $51.8m On Forex Sales Resumption       About 5,180 Bureau De Change operators got $10,000 each as the Central Bank of Nigeria fully resumed foreign exchange sales to the operators on Monday. The CBN had earlier announced it would commence sales of foreign exchange to...

In One Year, CBN Sanctioned 300 Firms Over Forex Infractions     About 300 companies including Bureau de Change operators have been sanctioned or had their accounts frozen over forex infractions. The President, Association of Bureaux de Change Operators of Nigeria, Alhaji Aminu Gwadabe, disclosed this to our...

Naira Set To Gain As CBN Resumes Forex Sales     The resumption of forex sales to the Bureau De Change operators by the Central Bank of Nigeria on Monday (today) will strengthen the exchange rate of the naira to the dollar according to the operators. In a...

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...