Tuesday, 26th October 2021
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Bureau De Change

28 Sep
For Nigeria to withstand economic distortions, stakeholders have advised that it must take critical lessons from the global recessions especially, from the recent COVID-19 pandemic induced recession.
13 Sep
The Middle Belt Forum (MBF) has challenged the Federal Government to yield to public demand of unveiling the sponsors of Boko Haram, especially the 400 Bureau de Change (BDC) operators...
3 Aug
Citing the abuse of the foreign exchange market by Bureau De Change (BDC) operators, local manufacturers have expressed optimism that the decision by the Central Bank of Nigeria (CBN)
29 Jul
Twenty four hours after the Central Bank of Nigeria (CBN) came down hard on Bureau De Change (BDC) operators for allegedly facilitating money laundering and other forex infractions...
7 Sep 2020
• Multiple forex rates persist • Sanctioned firms sold dollars to importers of 42 banned items, says ABCON Local manufacturers and other members of the private sector in need of foreign exchange yesterday, reminded the Central Bank of Nigeria (CBN) of about $2 billion backlogs needed for operations and business continuity, as the apex bank…
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)
31 Dec 2019
The Association of Bureaux De Change Operators of Nigeria (ABCON) has dissociated itself from the petitions against the apex bank and its management over the deployment...
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.
10 May 2019
The Lagos State police command yesterday exhumed four bodies of Bureau De Change operators dumped in a septic tank in Ikorodu area of Lagos State.   The state police command’s spokesman, Bala Elkana, who confirmed the exhumation to newsmen yesterday said on March 14, at about 5:30p.m. the command received a complaint from Ikorodu area…
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…
28 Jan 2019
No fewer than 4,000 Bureau De Change (BDC) operators across the six geopolitical zones of the country have passed through the rigours of trainings on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT).   The training, being part of the Association of Bureaux De Change Operators of Nigeria (ABCON) and Nigeria Financial Intelligence Unit (NFIU) partnership, was a four-day joint nation-wide…

Latest

29 mins ago
For Nigeria to tackle its perennial foreign exchange (forex) crisis, the need to invest heavily in infrastructure and adopt competitive policies that would attract Foreign Direct Investment ..
31 mins ago
Seven states from the Northwest, yesterday, asked the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) to give it lion share of revenue to state and local governments.
32 mins ago
Ogun State governor, Dapo Abiodun, has urged traditional rulers in the state to be mindful of what they say and the people they honour with chieftaincy titles not to bring the royal institution into disrepute.
32 mins ago
The persistent free-fall of the naira is an indication that none of the interventions being applied by the monetary authorities has worked. Otherwise, there would have been some respite for the beleaguered currency, even minimally.
32 mins ago
As the Federal Government, in Abuja, harped on diversification of foreign exchange sources through export of manufacturing products yesterday investors in the country’s manufacturing value...