ABCON President explains why there is forex crisis, lists sources of forex for BDCs

Gwadebe said that the pandemic caused supply disruptions as the price of crude oil went down.

COVID-19 could save naira from depreciating further, Many odds against the naira, Naira forwards and parallel market crash puts pressure on official exchange rate, Naira appreciates to N386.94 to $1 at investor and exporters window. , Naira set for recovery as ABCON issues guideline to members for forex sales resumption, Naira falls against the Euro, British pound sterling but gains against the U.S dollar, Naira falls at black market, dollar liquidity remains relatively low , Forex, Naira drops further at the black market despite appreciating at I&E window

Naira set for recovery as ABCON issues guideline to members on forex sales resumption

by Chike Olisah

May 26, 2020

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It is obvious that the CBN has come to realize that BDC operators can be the difference between naira recovery ...

Exchange rate depreciates at NAFEX window as forex liquidity drops further by 57%, Central Bank Continues intervention in Forex market to stabilize Naira, Naira to depreciate slightly over $1.52 billion maturing contracts expires, Naira hits N388.84 to $1 at the currency spot market, Investors and Exporters (I&E) window, Naira weakens against the dollar by 1.14% amidst uncertainty, Naira gains against the dollar at I&E window, forex liquidity up by 242%

Naira weakens against the dollar at I&E window, as CBN resumes dollar sales to BDCs

by Chike Olisah

May 21, 2020

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The CBN Governor had also advised businesses to stop patronizing the parallel market as it had the ability to meet ...

Foreign exchange market, Nigeria’s fixed income & money market update ending 13th March, 2020, Why the s, CBNtrong dollar is giving Nigeria headache, Nigerian banks broadly positive after Naira devaluation, Exchange rate sustains gain at NAFEX window as CBN orders BDCs to sell at N386/$1

Exchange Rate: CBN suspends sale of FX to BDCs

by CSL Stockbrokers

March 28, 2020

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The Central Bank of Nigeria, in a note issued to Bureau De Change operators (BDCs) in the country, suspended the ...

Dollar to sell for N360, ABCON insists

by Chike Olisah

March 20, 2020

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Association of Bureau De Change Operators of Nigeria has given assurances to the public of continued sale of dollars at the official price

CBN goes hard on BDC operators, issues various fines

by Chike Olisah

March 13, 2020

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Over 100 Bureau De Change Operators were fined N5 million by the Central Bank of Nigeria for various infractions in ...

ABCON warns FG on France’s involvement in ECO currency

by Chidinma Nwagbara

January 13, 2020

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ABCON has urged the Nigerian government to be cautious of France’s involvement in the Eco currency matter.

Bureaux De Change operators unanimously warn against proposed VAT increment

Bureaux De Change operators warn against proposed VAT increment

by Chidinma Nwagbara

October 14, 2019

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The Association of Bureaux De Change Operators (ABCON) has warned the Federal Government against the proposed increment in VAT.

ABCON “shakes the table” as it clamours for end to economic subsidies

by Emmanuel Abara Benson

July 22, 2019

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The Government has been urged to discontinue its subsidy schemes for fuel and FOREX. The Association of Bureaux De Change ...

BDCs get CBN, EFCC's backing against counterfeit notes

Travelex partners ABCON in bid to actualise $20bn diaspora remittances

by Damilare Famuyiwa

March 29, 2019

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A strategic partnership between Travelex and ABCON will enable Nigerian's BDCs to access more than $20 billion yearly Diaspora remittances ...

Tag: ABCON