13 Jan 2020
The Central Bank of Nigeria (CBN), at the weekend, made its first foreign exchange (forex) intervention for the year, with $253.38 million, under the retail Secondary Market Intervention Sales (SMIS)
7 Nov 2019
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....
2 Sep 2019
There is no doubt that a lot has happened with the Bureau De Change (BDC) segment of the nation’s foreign exchange (forex) market. They are regarded as the weakest link and most implicated, whether true or false when things go awry in the forex market.
6 May 2019
Commentary on the Foreign Exchange (FX) market with data for the week-ended May 3, 2019.both the Small and Medium-scale Enterprises (SMEs) and the Retail (Invisibles) segment ▪ In the Investors’ & Exporters’ (I&E) FX Window,the total value of trades for the week-ended April year-to-date (YTD) value of trades at the window to $25.76 billion week-ended…
22 Feb 2019
President Muhammadu Buhari has expressed concern at the volume of foreign currency in the country. He feared they could be deployed for something untoward A statement yesterday by his Senior Special Assistant on Media and Publicity, Garba Shehu, said the president raised the alarm during the Federal Executive Council (FEC) meeting where he accused some…
27 Dec 2018
Four policemen attached to Ijanikin Division in Badagry, Lagos State have been arrested for allegedly robbing a Togo-based Nigerian of his CFA350,000.
24 Sep 2018
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.
28 May 2018
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…
5 Dec 2017
The Central Bank of Nigeria (CBN) has again intervened in its weekly inter-bank foreign exchange market (Forex) with the injection of another $195 million.
21 Aug 2017
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.
31 May 2016
Ahead of the release of modalities for the implementation of the adopted flexible exchange rate policy by the Central Bank of Nigeria (CBN), the interbank market has already switched to N285 to the dollar.