The Central Bank of Nigeria (CBN) says it has banned sale of foreign exchange (FX) to Bureau De Change (BDCs) operators in the country. The governor of the apex bank, Godwin Emefiele, announced this decision at the end of the monetary policy committee meeting in Abuja on Tuesday. Emefiele said the apex bank received about […]
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Five Nigerians has been arrested in United Arab Emirate (UAE), for allegedly robbing a bureau de change in Sharjah. It was reported that the suspects fled with cash of different currency worth Dh2.3 million (N226,182,000). According to the Sharjah police, the men barged into the exchange and smashed the glass barrier between the customers and […]
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The president of the Association of Bureaux De Change (BDC) Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, on Wednesday defended the CBN’s retention of the benchmark interest rate and other monetary policy parameters. The CBN’s Monetary Policy Committee (MPC) met on Tuesday and retained the Benchmark interest rates at 14 per cent, alongside other monetary […]
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Relentless to achieve convergence of rates between the interbank and Bureau de Change segments of the foreign exchange market (FOREX), the Central Bank of Nigeria (CBN) has injected another $190 million into the market. The acting director, Corporate Communications, CBN, Isaac Okorafor, in a statement on Monday in Abuja, said $100 million was offered as […]
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The Central Bank of Nigeria (CBN), on Tuesday slashed the rate at which it sells forex to Bureaux De Change (BDCs) in Nigeria to N360 and directed the BDCs to sell to end users at not more than N362 to a dollar, the News Agency of Nigeria, NAN, reports.. This is coming barely 24 hours […]
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The naira continued to regain strength and appreciate in value in the parallel market on Tuesday as it was sold for N425 to a dollar. However, it was N450 to a dollar at the close of transactions on Monday. A survey carried out by the News Agency of Nigeria (NAN) on Tuesday at the Bureau […]
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The Naira on Monday continued to strengthen against the dollar and other major currencies, the News Agency of Nigeria (NAN) reports. The Nigerian currency gained N10 to exchange at N450 to a dollar at the parallel market, while the Pound Sterling and the Euro exchanged at N560 and N470. At the Bureau De Change (BDC) […]
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The Naira on Friday depreciated further to N500 to a dollar at the parallel market after it had remained stable for nearly three weeks, the News Agency of Nigeria (NAN) reports. The Pound Sterling and the Euro traded at N616 and N530 respectively at the open market. The Nigerian currency, however, remained stable at the […]
Continue ReadingThe Naira on Monday in Lagos appreciated marginally against the dollar at the parallel market, gaining N2, the News Agency of Nigeria reports. The currency exchanged at N468 to the dollar as against N470 it traded on Friday. The Pound Sterling and the Euro closed at N565 and 510, respectively. At the interbank market, however, […]
Continue ReadingThe Nigerian currency, the Naira is inching towards the N280 to the dollar opening rate at the Financial Markets Dealers Qoute (FMDQ).The naira on Wednesday closed at N304.75 to the dollar at the official interbank market from N305 recorded on Tuesday. At the Bureau De Change (BDC) window, the naira exchanged at N385 to the dollar, […]
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