The Central Bank of Nigeria (CBN) has refuted claims circulating in the media suggesting an extension of the...
The naira ended the trading week on a strong footing, appreciating to N1,589/$1 at the official Nigerian Foreign Exchange Market (NFEM) on Friday, April 25, 2025.
The Central Bank of Nigeria (CBN) has issued new guidelines permitting Bureau de Change (BDC) operators to purchase up to $25,000 weekly from Authorised Dealer Banks (ADBs) to meet retail market demand for eligible invisible transactions.
Bureau De Change (BDC) operators in Nigeria have attributed the recent depreciation of the Naira in the parallel market to scarcity of forex in the sector as major sources become drastically reduced.
The Central Bank of Nigeria (CBN) has approved the sale of $20 thousand each to Bureau De Change (BDC) operators at the rate of N1,580/$ in a bid to provide more forex liquidity in the market and meet demand.
The naira surged to N1,570/$1 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window on Thursday, marking an increase of 2.47% from the previous day’s rate of N1,608.73/$1.
The Central Bank of Nigeria (CBN) may spend up to $110.81 million to sell foreign exchange (FX) to eligible Bureau De Change (BDCs) this year.
The Corporate Affairs Commission (CAC) has asked the 4,173 Bureau De Change companies whose licences were recently revoked by the Central Bank of Nigeria (CBN) to change their names within three months.
The President of the Association of Bureau De Change Operators of Nigeria (ABCON), Mr. Aminu Gwadabe has stated that the increase in capital requirements for BDCs from N35 million to N2 billion for Tier-1 BDCs is against international best practices.
The Central Bank of Nigeria (CBN) has released the approved guidelines for operations of Bureau De Change (BDCs)...
The Central Bank of Nigeria (CBN) has issued another circular to Bureau De Change operators (BDCs), informing them of the direct sales of US dollars to BDCs at a discounted rate of N1,021 per dollar.
This is the weakest it has been since April 8, when the official rate closed at N1,230.61/$1, suggesting downward pressure ahead of the weekend.
