The Central Bank of Nigeria (CBN) has maintained restrictions on Bureau De Change (BDC) operators’ access to the official foreign exchange market, citing compliance risks and past abuses.
Naira Reaches Two-Year Peak kf N1,347/$
The naira has strengthened sharply in recent weeks, reaching one of its strongest levels in nearly two years, even as rising foreign portfolio inflows increase the risk of investor profit-taking later in the year, according to a macro update...
Naira Hits N1,430/$ at Parallel Market
The naira strengthened to between 1,425 and 1,430 per dollar at the parallel market following the Central Bank of Nigeria’s renewed directive allowing the sale of foreign exchange to Bureau De Change operators, a development stakeholders say is already...
CBN Issues Warning to BDCs Against Money Laundering
The Central Bank of Nigeria (CBN) has warned Bureau De Change operators across the country of severe sanctions for failing to comply with anti-money laundering and terrorism financing regulations.
In a circular dated April 17, 2025, and signed...
Cardoso: Restoring the Dignity of Naira with Painstaking Reforms, by Rahma Olamide Oladosu
The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, took the helm of affairs at a time the Naira was on a free fall. Despite his initial steps to arrest the downward...
