Tag: BDC
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BDC: CBN mandates sellers above $10,000 to declare sources
The Central Bank of Nigeria (CBN) has mandated foreign exchange sellers to Bureau De Change (BDC) of the equivalent of 10,000 dollars and above to declare their forex sources. Haruna Mustapha, Director, Financial Policy and Regulation Department of the CBN
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How to ensure stability of Naira – BDC operator
The Managing Director, 313 Bureau de Change, Alhaji Murtala Bashir, has emphasised the need for collective efforts to ensure the stability of the naira at the Foreign Exchange Market in Nigeria.
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BDC operators ask FG to stop Binance operations in Nigeria
Bureau De Change (BDC) operators in Nigeria have advised the Federal Government to use everything within its powers to stop the operation of Binance in the country.
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Why we are going after BDC operators across Nigeria – EFCC
The recent arrest of some Bureau De Change operators across the country especially in Lagos and Abuja by the Economic and Financial Crimes Commission (EFCC) is incidental to the Commission’s overall efforts in sanitizing the foreign exchange sector.
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EFCC raids BDC operators in Abuja as Naira dips against Dollar
Operatives of the Economic and Financial Crimes Commission (EFCC) on Friday raided Wuse Zone 4, home to most bureaux de change (BDC) operators in Abuja, the federal capital territory (FCT).
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BREAKING: FCTA demolishes shanties occupied by BDC operators in Abuja
Shanties occupied by BDC operators in Abuja
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Anxiety over Naira’s free fall, now exchanges for N525/$1 at parallel market
Following the Central Bank of Nigeria’s decision to ban foreign exchange sales to Bureau De Change (BDC) operators in the country, Nigeria’s naira has continued to experience a sharp loss to the dollar. As of yesterday, July 28, black market dealers were selling the naira at ₦525 per dollar up from N505 to $1 on…
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BREAKING: CBN bans sale of forex to BDCs
The Central Bank of Nigeria (CBN) on Monday announced immediate discontinuation of sale of Foreign Exchange (forex) to Bureau de Change (BDC) operators in the country. Mr Godwin Emefiele, the CBN Governor , made this announcement on Tuesday, while presenting a communique from the apex bank’s Monetary Policy Committee (MPC) meeting in Abuja. Emefiele said…
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Expose 400 BDC operators funding Boko Haram-Ndume to FG
The Chairman, Senate Committee on Army, Senator Ali Ndume, has urged the Federal Government to expose all the over 400 Bureau De Change operators recently arrested for allegedly funding the activities of Boko Haram insurgency in the country. Ndume, who is representing Borno South Senatorial District in the National Assembly, made the call in an…
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CBN Suspends Forex Sale to BDCs Indefinitely
The Central Bank of Nigeria (CBN) has suspended the sale of foreign exchange to Bureau De Change (BDC) operators nationwide indefinitely. This decision followed a request made by the Association of Bureau De Change Operators of Nigeria (ABCON) to the authority to hold off on its members’ weekly bidding. The body had made the request…