Raise banks’ liquidity ratio to discourage foreign currency holding, ABCON charges CBN
The Association of Bureaux De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN) to consider raising the liquidity ratio of banks, to discourage foreign currency holding.
Traders, speculators may suffer losses as BDCs resume operations
The Association of Bureaux De Change Operators of Nigeria (ABCON), has warned its members and forex speculators mounting pressure on the naira to stop such activities or risk losing their money.
CBN grants two-week market holidays to BDCs over COVID-19 crisis
ABCON advises forex users to shun street traders The Central Bank of Nigeria (CBN) has granted a two week market holidays to the Bureaux De Change operators. This followed a request by the Association of Bureaux De Change Operators of Nigeria (ABCON) to the CBN for the regulator to grant it market holidays given the…
ABCON directs BDCs to comply with N380/$ official rate
The Association of Bureaux De Change Operators of Nigeria (ABCON) has directed bureaux de change (BDCs) across the country to comply with the new official exchange rate of N380 per dollar as well as other provisions of the new foreign exchange regime.
Stakeholders berate CBN over $17 billion illicit financial flows
Illicit Financial Flows (IFFs) out of Nigeria may not subside unless the Central Bank of Nigeria (CBN), takes a bold step in designing preventive measures and enforcing regulations that would curb commercial banks and individuals arbitrariness engaged in the crime.
ABCON charts path to effective forex market operations
In line with its mantra to provide professional services for foreign exchange transactions across the country, the Association of Bureaux de Change Operators of Nigeria...
ABCON worried about involvement of France in Eco
The nation’s currency dealers, under the aegis of the Association of Bureaux De Change Operators of Nigeria (ABCON), have raised concerns over the seeming direct involvement of France
Diaspora remittances and imperatives of BDCs’ participation
The Bureaux De Change (BDCs) have for years supported Nigeria’s growth agenda and the commitment to exchange rate stability by the Central Bank of Nigeria (CBN)
CBN’s examination shows breach of rules by BDC operators
Despite the increasing awareness and reforms in the Bureau De Change (BDC) sub-sector, a significant number of operators are below the requisite rules guiding their activities, the Financial Stability Report of the Central Bank of Nigeria....