Naira Appreciates, Sells for N1,600/$ at Parallel Market The naira, on Monday, appreciated to N1,600 per dollar at the parallel section of the foreign exchange (FX) market. It gained 1.23 percent from the N1,620/$ traded reported on March 8. Currency traders in Lagos, also known as Bureau...

CBN Revokes Operational Licenses of 4,173 BDCs   The Central Bank of Nigeria (CBN) has revoked the licenses of 4,173 Bureaux De Change operators. This, the apex bank said, is in exercise of the powers conferred on it under the Bank and other Financial Institutions Act (BoFIA)...

CBN Revokes Operational Licenses of 4,173 BDCs   The Central Bank of Nigeria (CBN) has revoked the licenses of 4,173 Bureaux De Change operators. This, the apex bank said, is in exercise of the powers conferred on it under the Bank and other Financial Institutions Act (BoFIA)...

Grant BDCs Digital Autonomy, ABCON Urges CBN The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria to grant Bureaux De Change operators (BDCs) digital autonomy to achieve exchange rate convergence. In a statement on Sunday, the President, ABCON...

ABCON To CBN: Allow BDCs Compete For $20bn FX Inflow   Association of Bureaux De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria, CBN, to remove restrictive controls that make it difficult for Bureaux De Change, BDCs, to compete for the...

Forex Scarcity: BDCs Fear N300bn Loss, Job Cuts           More than two months after the Central Bank of Nigeria stopped the sale of forex to its licensed Bureau de Change operators, workers in the sector are being laid off over scarcity of forex, findings have revealed. Operators...