Tag: BDC operators
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BDC operators back CBN’s directive on non-export domiciliary accounts
The Association of Bureau De Change Operators of Nigeria (ABCON) has commended the Central Bank of Nigeria (CBN) for its recent directive to cease the use of non-oil export domiciliary accounts for Naira loans. Its president, Dr Aminu Gwadabe, in a statement on Thursday in Lagos, said the stoppage would
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JUST IN: Naira falls to N522 after CBN bans forex sales to BDCs
Naira fell marginally against the U.S dollar at the parallel market on Wednesday, after the Central Bank of Nigeria (CBN) announced that it has ended the sales of forex to Bureau De Change operators. Data recorded on abokiFX.com, a website that collates the parallel market rates in Lagos, showed that naira traded at N522.00 per…
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CBN Dollar Ban designed to further enrich commercial banks – BDC operators
…apex bank failed to adequately monitor us …insist ban will further make Naira to slide beyond N600 …alleged that most staff of CBN run BDCs By Emman Ovuakporie Some Bureau de Change, (BDC) operators on Tuesday said the Central Bank of Nigeria, (CBN) directive to ban their operations is primarily designed to further enrich commercial…
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Insecurity: FG set to arraign 400 suspected Boko Haram sponsors, BDC operators
The Federal Government has concluded plans to arraign about 400 alleged Boko Haram sponsors and financiers arrested in a nationwide sting operation last month. According to reports, some of the financiers, who included bureau de change operators, were arrested in Kano, Borno, Abuja, Lagos, Sokoto, Adamawa, Kaduna and Zamfara. According to a report by The…
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CBN resumes forex sales to licensed BDC operators
The Central Bank of Nigeria (CBN) says it has commenced the sales of foreign exchange to the Bureau De Change (BDC) operators in the country. The CBN made this known in a circular signed by Dr Ozoemena Nnaji, Director Trade and Exchange Department, and addressed to authorised dealers and BDC operators on Thursday. The bank…