As the value of the Naira strengthens against US dollar, the Association of Bureaux De Change Operators of Nigeria (ABCON), the umbrella body of all Central Bank of Nigeria (CBN)-Licensed Bureaux De Change (BDCs) in Nigeria yesterday appealed to the Apex Bank to adjust and lower its applicable Exchange Rate downward below the N1,251/$ its pegged for the BDCs.

BDCs Suspension Worsening Dollar Scarcity - ABCON   The Association of Bureaux De Change Operators of Nigeria (ABCON) said that the widening gap between the official and parallel market exchange rates is driven by acute dollar scarcity due to the continued suspension of foreign exchange sales...

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...