Naira weakens against dollar at investors’ window
The Naira on Monday weakened against the dollar at the investor’s (I&E) window, exchanging at N364.28, weaker than N363.68 traded on Friday.
CBN takes banks, BDCs head-on over new forex rules
The Central Bank of Nigeria (CBN) has declared a full-scale intervention in the nation’s foreign exchange market, with banks and Bureau De Change (BDC) operators in the searchlight. According to insider source at the apex, the latest reform efforts to consolidate gains in the last one year, came on the heels of suspicious act of…
BDCs allege banks benefit from their losses
Bureau De Change (BDC) operators have said they are badly affected by the trending “uncompetitive rate”, which comes as the Central Bank of Nigeria (CBN) sells dollars to them at higher rate compared to what it sells to commercial banks.