BDC Operators

Naira Depreciates Further To N1,419/$1 As EFCC Arrests BDC Operators

Naira Depreciates Further To N1,419/$1 As EFCC Arrest BDC Operators

The Economic and Financial Crimes Commission (EFCC) on Monday conducted a surprise raid on Bureau De Change (BDC) operators in the Wuse Zone 4 area of Abuja, arresting an unspecified number of

Emmanuel Ochayi

3 days ago

Business·Latest News

Forex Crisis: CBN Prunes Down Number Of BDCs To Almost 2009 Level

As the Central Bank of Nigeria (CBN) continues with its reforms of the foreign exchange market, it has reduced the number of Bureau De Change (BDC) operators to almost what it was

Victor Ezeja

2 months ago

Business·Latest News·Markets

Naira Drops To N1,730/$1 In Parallel Market As EFCC Raids BDC Operators In Abuja

The Nigerian naira hit a new low against the US dollar on Monday, sparking concern among citizens as the currency continued its downward spiral in both official and parallel foreign exchange markets.

Emmanuel Ochayi

2 months ago

Business·Currency

Naira Depreciation Sparks Surge In Dollar Savings As BDC Seeks Central Bank Review

Bureau De Change operators sounded the alarm as Nigerians flock to keep their savings in US dollars amid concerns over the eroding value of the naira.

Emmanuel Ochayi

4 months ago

Business·Currency·Insights

2years Of BDC Ban: Dollar Hoarders Made Whopping 80% Gain From Emefiele’s Infamous Decision

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.

Fakoyejo Olalekan

8 months ago

Breaking: CBN Raises Interest Rate To 18.75%

Business·Currency

Banks Are Formalising Black Market Operations, BDC Chief Says, Laments Exclusion

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

Fakoyejo Olalekan

10 months ago

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business·Currency

Black Market Operators Offer To Buy Dollar Above CBN’s Official Market Rate

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

Fakoyejo Olalekan

1 year ago

Naira Gains More As Exchange Rate Drops To N1,300/$1 At Official Market

Business·Currency

Bureau De Change Operators Sell One Dollar Below N750

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

Fakoyejo Olalekan

1 year ago

Business·Currency

‘Japa’ Pushes UK Pound Rate To N920, As Nigerians Overwhelm Black Market

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

Fakoyejo Olalekan

1 year ago

Business·Currency

EFCC Arrest 8 BDC Operators, Anti-Graft Agency Blamed For Dollar Rate Rise

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

Fakoyejo Olalekan

2 years ago

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Naira Depreciates Further To N1,419/$1 As EFCC Arrest BDC Operators

Forex Crisis: CBN Prunes Down Number Of BDCs To Almost 2009 Level

Naira Drops To N1,730/$1 In Parallel Market As EFCC Raids BDC Operators In Abuja

Naira Depreciation Sparks Surge In Dollar Savings As BDC Seeks Central Bank Review

2years Of BDC Ban: Dollar Hoarders Made Whopping 80% Gain From Emefiele’s Infamous Decision

Banks Are Formalising Black Market Operations, BDC Chief Says, Laments Exclusion

Black Market Operators Offer To Buy Dollar Above CBN’s Official Market Rate

Bureau De Change Operators Sell One Dollar Below N750

‘Japa’ Pushes UK Pound Rate To N920, As Nigerians Overwhelm Black Market

EFCC Arrest 8 BDC Operators, Anti-Graft Agency Blamed For Dollar Rate Rise

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