The scarcity of foreign exchange bites harder, pushing the dollar to N465 at parallel market. Traders in Lagos and Abuja said that there were no forex to sell or buy in the market, with the situation creating acute scarcity. The pound sterling, also in high demand,...

Deposit Money Banks have yet to comply with the Central Bank of Nigeria’s directive asking them to sell $50,000 from Diaspora remittances to Bureau De Change operators on weekly basis, the President, Association of Bureau De Change Operators of Nigeria, Aminu Gwadabe, has said. In...

The federal government’s plan to increase the availability of renminbi (Yuan) was already favouring the Naira against the dollar, the President, Association of Bureau De Change Operators of Nigeria, Mr Aminu Gwadabe has said. Gwadabe said in an interview with the News Agency of Nigeria...

Operators of Bureaux De Change (BDC) in Nigeria have forcasted annual forex inflow of $21 billion averagely from Nigerians in Diaspora for their continued operations. This target is feasible as the World Bank Migration and Remittances Factbook 2016 showed that Nigerians living abroad sent home...

An accusation by President Muhammadu Buhari recently that some banks and government officials run Bureau de Change (BDC) in the country using surrogates has been rebuffed by the President, Association of Bureau De Change Operators of Nigeria, ABCON, Alhaji Aminu Gwadabe. Gwadabe, said that as...

Despite recent intervention of the Central Bank of Nigeria, CBN, in the inter-bank segment, the Naira continue falling in the parallel foreign exchange market, trading at N320 against the US dollar in the Bureau de Change, BDC, segment and about N322 in the street...