Six days ago, the Central Bank of Nigeria (CBN) lifted the restriction placed on sales of foreign exchange to the Bureau De Change operators by the apex Bank’s suspended chief, Godwin Emefiele.
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The President of the Association of Bureau De Change Operators of Nigeria (ABCON), Aminu Gwadabe, said banks are now formalising the black market. Gwadabe stated that while banks are formalising parallel market
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The Bureau De Change operators retained the exchange rate between the naira and the dollar in the black market at N288 above that of the official market. According to some Bureau De
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The Bureau De Change window of the black market kept the exchange rate of the naira to dollar below N750 on Tuesday, January 3, 2023. After a one-day public holiday to celebrate
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Nigerians’ quest to ‘Japa’ – a local parlance by youths connoting offshore escape from hardship and economic deprivation – has increased the value of the pound in ‘black market’. Bureau De Change
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Eight Bureau De Change operators of the foreign exchange black market in Kano State were arrested by the Economic and Financial Crimes Commission (EFCC). The EFCC raided the parallel market days after
MoreOctober 27 Dollar Exchange Rate: The dollar-naira black market exchange rate increased by N10 earlier on Friday, indicating that Bureau De Change operators charged USD buyers more. During the previous trading day
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October 14, 2022 Dollar Rates Update: The cost of buying one dollar at the black market depreciated to N731/$1 on Friday, as the Bureau De Change operators dropped their asking price earlier
MoreOctober 13, 2022 Dollar Rates Update: On Thursday, the Bureau De Change operators increased the price to buy one dollar, as demand pressure returns to the black market, amid scarcity of forex
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October 11, 2022 Dollar Rates Update: The Bureau De Change operators reduced their asking price for dollar sales on Tuesday, with the naira gaining against the United States currency in the black
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