Tags : BDC

Nigeria’s Foreign Exchange Reserve Losses: What You Should Know

New figures made available by the Central Bank of Nigeria (CBN) has revealed that the West African country’s foreign reserves recorded a $481.4 million decline in January 2022 to close at $40.04 billion, showing a 1.2% fall from the previous month. Data from the CBN show a steady monthly decline from November 2021 till now. […]Read More

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INFOGRAPHICS: Forex Price Increase Over New Policy

The Central Bank of Nigeria, last week, announced the discontinuity of forex supplies to the Bureau de Change Operators in the country. The end of forex sales and new licence was approved after the Monetary Policy Committee two-day meeting. BDCs were set up to receive a weekly supply of FX… You must be registered to […]Read More

Naira Falls to N525/$1 As CBN Stops Forex Sale to

Nigeria’s naira has dropped to N525 to a dollar at the parallel market as the Central Bank of Nigeria (CBN) discontinued the sale of foreign exchange (FX) to Bureaux De Change (BDCs) operators in the country. The local currency, which opened today’s trading at N505/$1, lost N20 or 3.9 percent, according to data on abokiFX.com. At […]Read More