Despite improved confidence in the economy as shown in the latest Manufacturers Confidence Index (MCCI) by local manufacturers, demand for foreign exchange (forex) on the back of outstanding obligations has risen to about $2 billion ...
The Central Bank of Nigeria (CBN) has commenced the process of refunding licensing fees and capital deposits to promoters of bureau de change, whose registrations...
Bureaux De Change (BDC) Directors have reiterated commitment to stable exchange rate and sound corporate governance practices. This was part of resolutions made at the end of an exclusive meeting of BDC Directors...
The Association of Bureau De Change Operators of Nigeria (ABCON) has charged Bureau De Change (BDC) operators to improve sound corporate governance practices and customer service in their operations. ABCON President, Dr. Aminu Gwadabe gave this charge in Lagos at the opening session of 2021 yearly nationwide training on BDC Operations. Gwadabe stated that the…
Currency speculators, who have in the past week engaged in an aggressive ‘stocking’ of the dollar at a premium in expectation of a near-future rise in the exchange rate, may be facing heightened risks..
Exchanges and investors in cryptocurrencies have started reviewing their business strategies as the Central Bank of Nigeria (CBN) sticks to its gun, saying its restriction of transaction in the digital assets is in the interest...
28 Dec 2020
The Association of Bureaux De Change Operators of Nigeria (ABCON) has appealed to the Central Bank of Nigeria (CBN) to make Bureaux De Change (BDCs) payout agents for diaspora remittances.
30 Nov 2020
The parallel market has responded to the fresh devaluation of the naira amidst growing foreign exchange illiquidity. The local currency weakened to N500/$ at the black market at the weekend. The Central Bank of Nigeria (CBN) had adjusted the value of the naira by N6 against the dollar on Friday. That was the third time…
13 Jul 2020
Association of Bureaux De Change Operators of Nigeria (ABCON), has called on the Federal Government to suspend all increases in taxes and tariffs until the economy...
22 May 2020
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.
13 Feb 2020
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.
30 Dec 2019
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)