Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has refuted claims of selling foreign exchange (FX) to bureau de change (BDC) operators at the rate of N1,001/$1. CBN, in a post on X, said a circular claiming the apex bank announced the sale of $10,000 to BDCs at the rate of $1001/$1 … Read more
BDCs will be getting the dollar from the CBN at the rate of N1,101/$. 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
Eko Hot Blog reports that the Naira on Wednesday showed a remarkable rebound against the US dollar in both the official and parallel markets. The local currency notably strengthened against the greenback, particularly in the black market. This came as the Central Bank of Nigeria announced the final settlements of all valid foreign exchange backlogs, … Read more
Eko Hot Blog reports that the Federal Government has unveiled the identity of 15 entities, including nine individuals and six Bureau De Change operators and firms, allegedly involved in terrorism financing. Details of the development were revealed by the Nigerian Financial Intelligence Unit, in an email sent to our correspondent on Tuesday night, entitled “Designation … Read more
“The MPC made the decision to hold all parameters constant.” EKO HOT BLOG reports that the Central Bank of Nigeria (CBN) has announced the stoppage of forex sales to the Bureau De Change operators in the country with immediate effect. The CBN Governor, Godwin Emefiele, made the declaration after the Monetary Policy Committee (MPC) two-day … Read more