Browsing Tag

BDCs

CBN to sanction DMBs, BDCs for rejecting old, smaller denomination U.S dollars

Kadiri Abdulrahman Apr 21, 2021 0

The Central Bank of Nigeria (CBN) has ordered Deposit Money Banks (DMBs) and Bureau De Change (BDC) operators to, henceforth, accept old and lower denomination U.S dollars as legal tender.The apex bank gave the order in a circular…

Business

Bureaux De Change firms get CBN’s approval to automate operations

Samuel Oduoye Feb 4, 2019 0

The Association of Bureaux De Change Operators of Nigeria has disclosed that it has acquired a a no-objection approval from the Central Bank of Nigeria to launch an initiative called ‘Live Run Automation Portal’.The project is expected…

Business

Naira Exchanges At N280 Per Dollar

Owolabi Oluwasegun Oct 21, 2016 0

The Nigerian currency, the Naira is inching towards the N280 to the dollar opening rate at the Financial Markets Dealers Qoute (FMDQ).The naira on Wednesday closed at N304.75 to the dollar at the official interbank market from N305…

Business

Naira Rises Against Dollar

Owolabi Oluwasegun Aug 12, 2016 0

As against the continuous fall of the naira against the dollar, the Nigerian currency rose against the greenback to close at N314.75 on Thursday.The closing value of the naira appreciated considerably as against its value of N317 as at…

Ticker

Emefiele Explains Why CBN Stopped Sale of Foreign Exchange to BDCs

Jumoke Jan 12, 2016 0

As part of measures to reduce pressures on the nation’s foreign reserves, the Central Bank of Nigeria has stopped the sale of foreign exchange to all Bureaux De Change in the nation.The reserves, which closed last year at $28.364…

Business

Emefiele Explains Why CBN Stopped Sale of Foreign Exchange to BDCs

Jumoke Jan 12, 2016 0