The Association of Bureau De Change Operators of Nigeria (ABCON) has urged the Federal Government to increase security surveillance at the nation’s airports and land borders to checkmate illegal foreign cash evacuation.

Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria (ABCON), has blamed the recent depreciation of naira on the speculators’ onslaught and resistance by the banking industry.

The Central Bank of Nigeria (CBN) has reviewed down the rate at which it was selling dollars to Bureau De Change (BDC) operators nationwide.

Bureau De Change Operators have called on security agencies to curb illegal currency transactions at Nigerian borders to sustain the recent appreciation of the Naira against other foreign currencies.

The Naira on Friday in Lagos consolidated its position against the dollar at the parallel market, the News Agency of Nigeria (NAN) reports.

The naira will trade at N415 to a dollar as the series of intervention by the Central Bank of Nigeria (CBN) are sustained, Alhaji Aminu Gwadabe has said.

Nigeria’s money-changers will introduce an exchange rate for the naira to help the central bank combat unregulated trading.

Allegations and affirmed breaches of rules by banks are currently working against their quest to remain the sole administrator of the estimated $21 billion yearly ...

The money market observed the weekend with less liquidity in circulation as the apex bank sustained its efforts to support naira exchange rate ...

Three weeks after the Central Bank of Nigeria (CBN) ordered banks to sell Diaspora dollar remittances to Bureau De Change (BDC) operators, they have remained adamant.

Sources of supply and quantity supplied have remained at the centre of discourse since the beginning of the all-new flexible exchange rate policy. Both have also become strings pulling the rate determination...

The naira again lost value at the parallel market segment to a renewed low of N367 per dollar. The speculation, leading to fall in the value of the naira...