Suggestions




·

BDC Operators To Meet With CBN Governor Over Forex Ban

July 29, 2021
by
Naira Ends Week With Marginal Gain Against Dollar
Naira dollar

Banned operators of Bureau De Change are set to meet with Governor of Central Bank of Nigeria (CBN) Mr. Godwin Emefiele.

The operators under the auspices of Association of Bureau de Change Operators in Nigeria (ABCON) said they will meet with the CBN Governor within the next one week.

Join our WhatsApp Channel

This was disclosed by operators who preferred to remain anonymous.

“This ban is coming as a shock to all operators, including the executive of ABCON, as none of us was expecting such directive at a time the Naira has not been fairing well.

“No doubt, the effect will be on our currency. Already, the exchange rate as at today is around N525/$1 or more depending on the area,” Peter Adewuyi, a forex trader said.

The CBN, on Tuesday, banned the licensing of new BDC operators and processing of their application for forex across the country.

CBN Governor, Godwin Emefiele, made this disclosure while reading the communique after the 2-day Monetary Policy Committee (MPC) meeting on Tuesday, July 27, 2021.

According to Emefiele, CBN receives about 574 license applications from BDCs every month adding that there are currently 5,500 licensed BDC operators across the country.

+ posts

Kayode Shopekan

food systems transformation a silver lining in covid crisis un deputy chief
Previous Story

Food systems transformation a ‘silver lining’ in COVID crisis: UN deputy chief

first of its kind study published on the positive health economic impact of overcoming blood shortages to treat maternal bleeding in sub saharan africa
Next Story

First-of-its-kind study published on the positive health economic impact of overcoming blood shortages to treat maternal bleeding in sub-Saharan Africa

Featured Stories

Latest from Finance & Economy

Nigeria,s GDP

Nigeria’s GDP Grows by 4.07% in Q4 2025 – NBS

Nigeria’s Gross Domestic Product (GDP) expanded by 4.07 per cent year-on-year in real terms in the fourth quarter of 2025, according to the latest report released by the National Bureau of Statistics (NBS). The growth rate is higher than the 3.76 per
Tinubu Approves

Tinubu Targets N40.7tn in Tax Revenue for 2026

President Bola Ahmed Tinubu’s administration is aiming to collect N40.7 trillion in revenue for 2026, Executive Chairman of the National Revenue Service (NRS), Zacch Adedeji, told the House of Representatives on Wednesday. The target covers taxes, petroleum earnings, mineral royalties, and other
food systems transformation a silver lining in covid crisis un deputy chief
Previous Story

Food systems transformation a ‘silver lining’ in COVID crisis: UN deputy chief

first of its kind study published on the positive health economic impact of overcoming blood shortages to treat maternal bleeding in sub saharan africa
Next Story

First-of-its-kind study published on the positive health economic impact of overcoming blood shortages to treat maternal bleeding in sub-Saharan Africa

Don't Miss

NGX Suspends Trading In Unity Bank, Guinea Insurance, 6 Other Companies’ Shares

Sterling Financial, Prestige Extend NGX Downward Trend

On Monday, November 24, the Nigerian Exchange (NGX) Limited’s market

Man United, Ajax Set For Talks On Martinez Transfer To Old Trafford

Manchester United transfer chiefs are set to meet with their