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Tag "Bureau de Change"

‘$10k for school fees, $5k for medical bills’ – CBN limits dollar purchase from BDCs

    ‘$10k for school fees, $5k for medical bills’ – CBN limits dollar purchase from BDCs

The Central Bank of Nigeria (CBN) has placed limits on the foreign exchange (FX) sales by Bureau De Change (BDC) operators.  The apex disclosed the directive on February 23, 2024,

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‘N2bn capital requirement, no FX credit to customers’ — CBN sets guidelines for BDCs

    ‘N2bn capital requirement, no FX credit to customers’ — CBN sets guidelines for BDCs

The Central Bank of Nigeria (CBN) has released guidelines for the sale of foreign exchange (Forex) by Bureau De Change (BDC) operators within the country. CBN said the guidelines will

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ABCON asks members to comply with FX regulations, stop street trading

    ABCON asks members to comply with FX regulations, stop street trading

The Association of Bureau De Change Operators of Nigeria (ABCON) has instructed its members to abide by extant laws establishing them. Aminu Gwadabe, ABCON president, made this known in a

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Biggest risk for BDC operators is to depend on CBN allocation, says ABCON boss

    Biggest risk for BDC operators is to depend on CBN allocation, says ABCON boss

Aminu Gwadabe, the president of the Association of Bureaux De Change Operators of Nigeria (ABCON), says the Central Bank of Nigeria (CBN) poses “the biggest risk” to a BDC operator.

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ABCON: Why we’re seeking CBN’s approval for BDCs mergers, 900% capitalisation increase

  ABCON: Why we’re seeking CBN’s approval for BDCs mergers, 900% capitalisation increase

The inability of the Central Bank of Nigeria (CBN) to adequately supervise the operations of Bureau De Change (BDC) centres

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FX scarcity: EFCC raids BDC hub in Abuja over alleged dollar mop-up

  FX scarcity: EFCC raids BDC hub in Abuja over alleged dollar mop-up

Operatives of the Economic and Financial Crimes Commission (EFCC) have raided Wuse Zone 4, Federal Capital Territory, Abuja, over allegations

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Twitter ban, embargo on SIM card sales… decisions that impacted Nigerian economy in 2021

  Twitter ban, embargo on SIM card sales… decisions that impacted Nigerian economy in 2021

As 2021 draws the curtain to usher in 2022, it is important to look at some of the events that

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THE INSIDER: CBN allocated $5.7bn annually to BDCs amid plunging reserves

  THE INSIDER: CBN allocated $5.7bn annually to BDCs amid plunging reserves

At the end of the monetary policy committee meeting in Abuja on Tuesday, Godwin Emefiele, governor of the Central Bank

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Speculators should prepare for losses, CBN reacts as naira trades at N420/$

  Speculators should prepare for losses, CBN reacts as naira trades at N420/$

The naira continued its rally against the dollar at the parallel market section of the foreign exchange market. Bureau de

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Naira to trade at 386/$ as CBN resumes FX sale to BDCs

  Naira to trade at 386/$ as CBN resumes FX sale to BDCs

The Central Bank of Nigeria (CBN) says it will resume weekly forex sales to Bureau de Change operators from August

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