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Bureau De Change

Central bank to punish banks for forex infractions

This is even as the apex bank sustained its intervention in the various sectors of the inter-bank foreign exchange market with the injection of $545m.

Central bank assures of liquidity in forex supply

The Central Bank of Nigeria (CBN) has assured of its continued intervention in the inter-bank Foreign Exchange market in order to sustain liquidity and stability in the sector.

BDC chief faces trial over alleged N8.8 million theft

The chairman of Bureau De Change Association, Borno Crescent, Apapa, Lagos, Garba Hussaini, 50, has been arrested and arraigned before a Tinubu Magistrate Court for allegedly obtaining the sum of N8, 846, 250 from a customer, Emmanuel Aghogho Ivwurie under false pretence.

Police nab woman over N700m forex fraud

The Police Special Fraud Unit (PSFU) on Wednesday said it had arrested a 36-year-old woman for allegedly posing as a bureau-de-change operator to defraud several persons of N700 million.

Naira maintains N367 the the dollar at parallel market

The Nigerian currency maintained its Friday rate, while the Pound Sterling and the Euro traded at N478 and N433 respectively.

BDCs allege banks benefit from their losses

Bureau De Change (BDC) operators have said they are badly affected by the trending “uncompetitive rate”, which comes as the Central Bank of Nigeria (CBN) sells dollars to them at higher rate compared to what it sells to commercial banks.

Naira falls against dollar at parallel market

The naira on Thursday continued to fall against the dollar at the parallel market, the News Agency of Nigeria reports.

Naira falls against dollar at parallel market

The naira on Monday depreciated further against the dollar at the parallel market, exchanging at N367 to the dollar.

Naira sustains gain at parallel market

The naira on Wednesday appreciated against the dollar at the parallel market, exchanging at N363 to the dollar from the N364 posted on Tuesday.

Naira sustains gain at parallel market

The naira on Wednesday appreciated against the dollar at the parallel market, exchanging at N363 to the dollar from the N364 posted on Tuesday.

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