Naira Steady Despite #EndSARS Protests         The naira last week traded at the parallel market for N463 against the dollar, a slightly weaker ratio from the N462 exchange rate the previous week. Naira’s exchange rate remains at N379 to the dollar at the official market. The local currency...

CBN’s $450m Inflow To BDCs Stabilise Naira       The Central Bank of Nigeria (CBN) has injected over $450 million into the Bureau De Change (BDC) segment of the foreign exchange market to keep the naira stable. The dollar injections, which came after the apex bank resumed dollar...

In Six Months, CBN Disburses $13.99bn Forex       The Central Bank of Nigeria supplied $13.99bn into the market between January and June. The bank disclosed this in its quarterly statistical bulletin on ‘Supply of forex’ for the month of June. According to the CBN, the forex were supplied...

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...

Sanusi To CBN: Fund BDC To Stabilise Naira     To protect the naira, the Central Bank of Nigeria (CBN) must fund Bureau De Change (BDC) segment of the foreign exchange . Former CBN Governor and one-time Emir of Kano Muhammad Sanusi II said this action will bridge...

CBN Charges ABCON To Play Stronger Role In BDC Sub-sector   The Central Bank of Nigeria (CBN) has advised the Association of Bureaux De Change Operators of Nigeria (ABCON) to play stronger role in the bureaux de change industry by embracing self-regulation. Speaking during the Inter-Governmental Action...