CBN Approves Sale of $20,000 to BDC Operators The Central Bank of Nigeria (CBN) has approved the sale of foreign exchange (FX) to eligible bureau de change (BDC) operators at N1,450 per dollar to meet the demand for invisible transactions. In a statement on Thursday signed...

CBN Stops Sale Of Foreign Exchange To BDC Operators       The Central Bank of Nigeria has said it will no longer sell foreign exchange to Bureau De Change operators. The CBN Governor, Mr Godwin Emefiele on Tuesday announced this at the end of the Monetary Policy Committee...

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...

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...

EFCC Arraigns BDC Operators For Laundering $1.6m     The Economic and Financial Crimes Commission (EFCC) yesterday arraigned Bureau De Change (BDC) operators for allegedly laundering $1.6million, said to be proceeds of smuggling. The defendants – Chris Ogbonna, and Sulaiman Jibbo – were arraigned alongside two firms –...

Speculators’ll Lose Billions On Forex Sales Resumption, Says ABCON   The Association of Bureau De Change Operators of Nigeria has said that currency speculators will lose huge funds as the Central Bank of Nigeria plans to resume dollar sales to over 5,000 Bureau De Change operators...