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CBN
The Association of Bureau De Change Operators of Nigeria (ABCON) has commended the Central Bank of Nigeria (CBN) for lifting the suspension of sales of interbank foreign exchange to its members nationwide, saying this would tame the country’s inflation among other benefits.
The CBN has granted BDC operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).
The Central Bank of Nigeria (CBN) has recently implemented a directive imposing a daily withdrawal limit of N100,000 for individuals, a policy aimed at fostering a cashless economy and curbing illicit financial activities.
The Central Bank of Nigeria (CBN) has introduced a daily transaction limit of N100,000 per customer for cash-out transactions conducted by Point of Sale (POS) agents.
The Central Bank of Nigeria (CBN) has taken a firm stance against the illegal flow of freshly minted naira notes to currency hawkers and other unscrupulous agents by imposing a penalty of N150 million per branch on erring Deposit Money Banks (DMBs).
The Central Bank of Nigeria (CBN) has reaffirmed that all denominations of Naira banknotes, including old and new designs, will remain valid as legal tender indefinitely.
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.
Forex traders under the aegis of the Association of Bureau De Change Operators of Nigeria (ABCON) say the permission of BDCs to purchase foreign exchange directly from authorized dealers by the Central Bank of Nigeria (CBN) is not automatic.
The Central Bank of Nigeria (CBN) has announced the launch of its newly redesigned website, www.cbn.gov.ng, which is scheduled to be operational on Monday, December 2, 2024.
The Central Bank of Nigeria (CBN) has revised its guidelines, permitting licensed Bureaux de Change (BDCs) to purchase foreign exchange directly from Authorized Dealers.
The Central Bank of Nigeria (CBN) has released revised guidelines for the Nigeria Foreign Exchange Market (NFEM), signaling a major shake-up in the country’s FX operations.
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has hinted that the current high interest rate would be reduced very soon as the inflationary pressure eases as expected.