Tag: BDCs

BDC operators reject amended CBN licensing guidelines
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BDC operators reject amended CBN licensing guidelines

Foreign exchange dealers under the umbrella of the Bureau de Change Operators of Nigeria have rejected the new licensing guidelines directive by the Central Bank of Nigeria. This was disclosed in a statement by the President of the Association of Bureau de Change Operators of Nigeria, Aminu Gwadebe, stating that, it is contrary to best […]

Banking

CBN prepares tough financial sanction for banks

In order to lower violations in the nation’s financial sector, the governor of the Central Bank of Nigeria, Olayemi Cardoso, has committed to pursue an aggressive regulatory environment. Cardoso made the disclosure at the first meeting of the Apex bank’s Monetary Policy Committee after taking office in September 2023, he made this statement on Tuesday […]

Trapped funds: CBN to give foreign airlines $150m
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Dollar shortage persists after party primaries

Dollar exchanged at N603 (average) at Lagos and Abuja parallel markets on Tuesday, indicating a worsening liquidity crisis in the foreign exchange market of Africa’s biggest oil producer. Between June 2021, and June 2022, dollar-to-naira exchange rate has risen from N500 to N603 at the parallel market, signifying the greenback appreciated by 21 per cent […]