BDCs Seek CBN’s Support To Meet FX Demand   The Association of Bureaux De Change Operators of Nigeria (ABCON) has solicited the Central Bank of Nigeria’s (CBN) support in ensuring that Bureaux De Change (BDCs) continue to sell dollars to retail end forex buyers. In a notice...

ABCON Kicks Against Speculators Depreciating Naira Forcefully         The Association of Bureaux De Change Operators of Nigeria has warned foreign exchange speculators pushing the naira to forceful depreciation through their illegal activities. ABCON gave the warning in a statement titled, ‘ABCON warns speculators will lose money as...

Naira Gains 9.7% At Parallel Market     The naira appreciated on the parallel market on Tuesday. It gained 9.65 per cent against the dollar. Forex traders attributed the appreciation of the currency to Central Bank of Nigeria’s (CBN’s) plan to restart forex sales to Bureaux de Change. The...

Naira To Depreciate Further In Parallel Market     The sharp depreciation of the naira in the parallel market is set to continue this week with the exchange rate projected to hit N470 per dollar. Last week, the naira depreciated by N9 or 1.9 percent to N467 per...

CBN raises FOREX supply to BDCs…offers $100m for forwards In line with its pledge to sustain liquidity in the foreign exchange market, the Central Bank of Nigeria CBN) will from Monday, April 3, 2017 commence twice weekly FOREX sales to licensed Bureaux de Change (BDCs)...

The Central Bank of Nigeria (CBN) has warned Nigerians at home and in the Diaspora to beware of the unwholesome activities of some unlicensed International Money Transfer Operators (IMTOs) in Nigeria. In a release by the Spokesperson of CBN, Isaac Okorafor, it said the warning became necessary...