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BUREAU DE CHANGE OPERATORS
Bureau De Change (BDC) operators have insisted that there is an extremely large amount of foreign exchange liquidity in the system that is unaccounted for.
Currency traders have attributed the persistent weakening of the naira and the volatility of the foreign exchange market to the lack of consistency in dollar allocation to the Bureau De Change (BDC) operators by the Central Bank of Nigeria (CBN).
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.
The Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change operators (BDCs), informing them that it has sold $10,000 to each BDC at a rate of N1,101/$1.
The Presidency has alleged that some Bureau De Change operators were facilitating money to terrorists.
A Pan-African credit rating agency has predicted that diaspora remittances for this year are going to witness a 20% decline from last year’s figure.
The Central Bank of Nigeria, in a note issued to Bureau De Change operators (BDCs) in the country, suspended the sales of foreign currency for two weeks.
Over 100 Bureau De Change Operators were fined N5 million by the Central Bank of Nigeria for various infractions in the foreign exchange market.
Dr. Aminu Gwadabe, the President of the Association of Bureaux De Change Operators of Nigeria (ABCON), has raised alarm...