Official exchange rate crashes to 6-day low as reserves fall
This is the weakest it has been since April 8, when the official rate closed at N1,230.61/$1, suggesting downward pressure ...
Tag: BDCs
News and analysis about BDCs
Financial experts divided on CBN’s dollar sales to BDC operators
The recent dollar sales to BDCs below market rate at N1,101/$1 was the third attempt after a long period of ...
ABCON to CBN, dollar allocations have become expensive, BDCs are recording losses
ABCON has appealed to the Central Bank of Nigeria (CBN) to adjust and lower its applicable exchange rate downward below the N1,251/$ it ...
CBN revokes operational licenses of 4,173 BDCs
The Central Bank of Nigeria (CBN) has revoked the operational licenses of more than 4,000 Bureau De Change (BDC) operators ...
MAN asks CBN to reduce number of BDCs, develop credit intervention to manufacturing sector
MAN has asked the CBN to work towards reducing the number of Bureau De Change (BDC) operators and develop a ...
CBN intervenes in FX market, allocates $20,000 to each BDC to stabilise Naira
In a move aimed at rectifying the persisting distortions in the retail segment of Nigeria's foreign exchange market, the Central ...
CBN plans to limit buying and selling of forex in cash by BDCs to $500
The Central Bank of Nigeria (CBN) is considering banning Bureau De Change (BDC) operators from street trading and limiting the ...
Confusion as BDCs shutdown operations in Abuja over forex scarcity, ABCON rejects decision
There are reports that currency traders otherwise known as Bureau De Change (BDC) operators have announced the shutdown of operations ...
CBN to clear $10 billion FX backlog in 2 weeks, accuse BDCs of round-tripping
CBN has said that it is working with the commercial banks to clear the $10 billion foreign exchange backlog within ...
BDCs hint forex market will begin to see, capture diaspora remittances
ABCON has assured that the Nigerian economy will begin to see and capture the diaspora remittances when the Central Bank ...
