Bureau De Change
8 May
The police have arrested 17 suspected forex hawkers for illegal operation of Bureau de Change in Wapa area of Fagge Local Government Area of the state. The Commissioner of Police, Mr Usaini Gumel, told the News Agency of Nigeria(NAN) in an interview on Wednesday. ”The operation which was led by the Police Command was carried…
25 Apr
Shop owners in a commercial building near Ekiosa market in Benin City, Edo State capital have counted their losses following a fire outbreak that occurred in the early hours of Tuesday and destroyed goods worth billions of naira.
23 Apr
The Central Bank of Nigeria (CBN) has informed Bureau De Change (BDC) operators about direct sales of US dollars at a discounted rate of N1,021 per dollar. The directive was contained in a circular issued by the apex bank on Tuesday, 23 April 2024. This is the second sale this month and the fourth in…
9 Apr
Naira may be on course to regain N1000/$ (an exchange rate though implausible as early as a month ago) in the near time if the current bullish outlook of the market is sustained.
8 Apr
The Central Bank of Nigeria (CBN) has approved the sale of $10,000 to Bureaux De Change (BDC) operators at the rate of N1,101 to a dollar. CBN Director, Trade and Exchange Department, Dr. WJ Kanya, in a circular said BDC operators are not permitted to sell a dollar above N1,117. It directed each BDC to…
1 Mar
The Central Bank of Nigeria (CBN) on Friday revoked the license of 4,173 bureaux de change (BDC) operators. CBN's spokesperson Hakama Sidi Ali announced this in a statement. Sidi Ali said the affected institutions listed on the CBN website failed to comply with regulations, including the "payment of all necessary fees, including license renewal, within…
29 Feb
Despite the demolition, yesterday by the Federal Capital Development Authority (FCDA) of buildings, shops and shanties housing Bureau De Change (BDC) operators in the latter’s Wuse Zone 4 headquarters, agents were still seeing around the premises shopping for customers.
27 Feb
The Central Bank of Nigeria (CBN) has announced the sale of foreign exchange to eligible Bureau De Change (BDC) operators. CBN's Director of Trade and Exchange Department, Dr. Hassan Mahmud, in a statement said the bank has observed "continued price distortions at the retail end of the market, which is feeding into the parallel market…
26 Feb
Presidential candidate of Labour Party (LP) in the 2023 general elections, Peter Obi, yesterday, advised federal agencies against arresting Bureau de Change operators, noting that they are not responsible for the free fall of the Naira.
23 Feb
The Central Bank of Nigeria (CBN) on Friday said it is considering raising the minimum capital requirements for Bureau De Change (BDC) operators to N2 billion for Tier 1 licenses while it would be N500 million for Tier 2 licenses.
20 Feb
Operatives of the Economic and Financial Crime Commission, (EFCC) raided and arrested over 50 illegal Bureau De Change operators in Wuse Zone 4 Abuja, on Monday.
20 Feb
The Ohanaeze Youth organization has launched a strong defence of former Central Bank of Nigeria Governor Godwin Emefiele, vehemently denying accusations that his policies contributed to Nigeria's current economic woes. The group further alleged that Senator Godswill Akpabio's criticism stems from personal motives rather than genuine concern. In a statement made available to The Guardian,…
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42 mins ago
A prominent member and spokesperson of the Tinubu Support Organization (TSO), Hon. Franklin Ebere Njoku, has urged President Bola Ahmed Tinubu to review the activities of the Honourable Minister of Youth Development, Dr. Jamila Ibrahim Bio. Hon. Franklin, speaking at a recent strategic meeting of the #TinubuAndNigeriaMustSucceedInitiative (TNMSI), attributed recent unrest among youths in the…
1 day ago
Arsenal have been dealt a huge injury blow to captain Martin Odegaard ahead of Sunday's north London derby against Tottenham. Odegaard was forced off against Austria on Monday while playing for Norway in the Nations League to throw his involvement in the huge weekend clash into doubt. After tussling for the ball with Christoph Baumgartner,…
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1 day ago
A group, Concerned Obidient Movement, has declared support for Mr. Asue Ighodalo, the Peoples Democratic Party (PDP), candidate in the Sept. 21 Edo governorship election. READ ALSO:Edo poll: Era of pre-filled election result sheets over, INEC declares The leader of the group, Mr. Ikhuenbor Igbinevbo, told newsmen on Monday in…
1 day ago
Former Director of Department of State Services (DSS), Mr Dennis Amachree has spoken in support of the agency, saying that the NLC president is not above the law. The former secret police officer noted that Joe Ajaero must have been found wanting before he could be arrested. His words: "The Nigerian public need to know…
1 day ago
Unity Bank Plc. has projected gross earnings of N27 billion and a profit after tax of four billion Naira for the fourth quarter of 2024. READ ALSO:Unity Bank leads digital literacy, youth innovation This is contained in the bank’s latest earnings forecast sent to the Nigerian Exchange Group (NGX Group) on Monday.…
1 day ago
The Nigerian equity market opened the week with an N111 billion loss recorded for investors, amid the supplementary listing of eight billion ordinary shares of Japaul Gold and Ventures Plc. READ ALSO:Investors’ wealth down by N188 billion amid profit taking in 30 stocks Specifically, the Nigerian Exchange Ltd. (NGX)market capitalization, which opened at N55.394 trillion,…
1 day ago
The Nigeria Police Force (NPF) has reportedly invited the President of the Nigeria Labour Congress (NLC), Joe Ajaero, and the Secretary-General, Emmanuel Ugboaja, for questioning on Monday, September 30. Human rights lawyer Femi Falana, SAN, who represents NLC, confirmed to Punch that the police invitation was related to the petitions by AirPeace and not terrorism…
1 day ago
The Area Commander, Police Area Command Gboko, ACP Edmund Afraimu, has confirmed the arrest of a soldier over the extra-judicial killing of a youth at Dangote Cement Plant in Gboko on Monday. Though Afraimu said that it was not within the jurisdiction of his office to issue official statements, he admitted that he did indeed…
1 day ago
The chairman of the Nigeria Union of Local Government Employees (NULGE) in the Akure South local government area of Ondo State, Oluwatuyi Olasoji, is dead. A news tabloid in Ondo state, Sunshine Truth, reports that Olasoji slumped last week while trying to purchase fuel at a filling station in Akure and was subsequently rushed to…