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...

5,180 BDCs Get $51.8m On Forex Sales Resumption       About 5,180 Bureau De Change operators got $10,000 each as the Central Bank of Nigeria fully resumed foreign exchange sales to the operators on Monday. The CBN had earlier announced it would commence sales of foreign exchange to...

In One Year, CBN Sanctioned 300 Firms Over Forex Infractions     About 300 companies including Bureau de Change operators have been sanctioned or had their accounts frozen over forex infractions. The President, Association of Bureaux de Change Operators of Nigeria, Alhaji Aminu Gwadabe, disclosed this to our...

ABCON Urges CBN To Raise BDCs’ Trading Margin     The Association of Bureaux De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN) to increase the margin allowed BDCs on foreign exchange transactions. Making this appeal at a webinar organised by the...

Uncertainty Over Resumption Of Dollar Sales To BDCs     The Naira, last week, continued its downward slide in the parallel market, where it depreciated further to N477 per dollar amidst uncertainty over resumption of dollar sales to Bureau de Change (BDC) operators ahead of the scheduled...

Anxiety As Forex Scarcity Hit Banks   Indications are that most deposit money banks (DMBs) operating in the country are practically struggling to meet daily demands of foreign exchange to customers, The Nation has learnt. This is despite the reported weekly cash lodgments of $100million being disbursed...