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BDC OPERATORS
The Association of Bureau De Change Operators of Nigeria (ABCON) has directed its members to strictly operate within the business hours of 8 am to 6 pm or face disciplinary actions.
Currency traders under the aegis of the Association of Bureau De Change Operators of Nigeria (ABCON) have warned that forex speculators will resist the rapid appreciation of the naira to cover their losses.
The Nigerian naira recorded marginal appreciation at both the official and parallel markets by the end of November, according to data from FMDQ and Bureau de Change (BDC) operators.
The Central Bank of Nigeria (CBN) has announced the sale of $106.5 million as foreign exchange (FX) to 29 FX dealer banks.
The special adviser to the President on Information and Strategy, Bayo Onanuga, said Nigeria was spending a whooping sum of $1.5 billion monthly to peg foreign exchange before Tinubu’s unification policy in June 2023.
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has attributed the recent volatility in the foreign exchange market leading to the recent depreciation of the Naira against the dollar to “seasonal demand” for the greenback.
Amidst severe liquidity shortages and erratic forex supply, a senior ABCON official explained why the naira has been depreciating in recent days.
The Association of Bureau De Change Operators of Nigeria (ABCON) said that as of Tuesday, the Bureau De Change (BDC) operators were buying dollars at N980/$ at the open market and selling at N1,020/$.
Adebisi, a young Nigerian set to migrate to Canada for good, found himself in a precarious situation when he visited the bank to purchase Personal Travel Allowance (PTA) with his July salary.
The CBN Governor, Godwin Emefiele, has explained why the Naira has been relatively stable at the Investors and Exporters (I&E) window.
The Governor of the Central Bank of Nigeria has stated that the only rate he recognises is the...