Tag
BDC
The Central Bank of Nigeria has issued a circular to BDCs informing them that they sold $10,000 t0 each BDC at a rate of N1,251/$1.
Efforts are underway to authorize the ABCON to publicly display the black-market rates of the naira against the dollar on online platforms.
The Federal Government has urged the CBN to reduce the number of BDC operating in the country from over 5,000 to about 200.
Bureau De Change Operators in Nigeria have agreed with the acting CBN Governor that most transfers conducted by the International Money Transfer Operators (IMTOs) have been diverted and are not being tracked.
CBN brings back BDC, introduces new Operational Mechanism for Bureau De Change Operations in Nigeria
In a bid to enhance the efficiency of the Nigerian Foreign Exchange Market, the Central Bank of Nigeria (CBN) has unveiled a series of operational changes for the Bureau De Change (BDC) segment.
Nigerian capital market regulators should focus on building confidence in the Nigerian financial markets and the economy as the challenge Nigeria faces with regard to the currency is one of supply and demand, versus platforms used for exchange, including Binance.
Operatives of the EFCC have raided a Bureau De Change (BDC) hub at Wuse Zone 4, which is home to most of the operators in Abuja.
The BDC operators have attributed the widening exchange rate disparity to acute scarcity of dollars due to the continued suspension of forex sales to BDCs.
The Association of Bureaux De Change Operators of Nigeria (ABCON), has urged the CBN to reconsider the ban...
Deposit money banks have witnessed an increase in foreign exchange demand due to the central bank’s ban of...
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele has said that the apex bank...
The divorce between the Central Bank of Nigeria and the Bureau De Change has created a vacuum in...