The Association of Bureaux De Change of Nigeria (ABCON) has announced that the Central Bank of Nigeria (CBN) has extended the deadline for Bureaux De Change (BDC) operators to complete their recapitalisation by six months, moving the new deadline to June 3, 2025. ABCON President, Aminu Gwadabe, disclosed this development during a virtual general meeting … Read more
Eko Hot Blog reports that the Cardoso-led Central Bank of Nigeria (CBN), has sacked a fresh batch of 40 staff mostly from the Development Finance Department (DFD), in furtherance of its ongoing restructuring. According to Daily Trust report, deputy directors and assistant directors were mostly affected with 22 from the DFD and the remaining 18 … Read more
BDCs will be getting the dollar from the CBN at the rate of N1,101/$. The CBN instructed them to sell dollars at a rate not exceeding 1.5% above the purchase price. That means BDCs are not expected to sell above N1,117/$1. Eko Hot Blog reports that bureau de change (BDC) operators have started buying foreign exchange … Read more