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Travelex

Travelex: Nigeria, other African nations lose $50 billion to illicit flows annually

Travelex Nigeria Limited at the weekend disclosed that Nigeria and other African countries “are losing over $50 billion annually through illicit financial flows.”

Bureaux de Change operators set exchange rate agenda for President Buhari

The Association of Bureaux de Change Operators of Nigeria (ABCON) has set N250 to dollar exchange rate agenda for President Muhammadu Buhari in his second term in office.
Dollar

ABCON: Fake $100 bills in circulation

The Association of Bureaux De Change Operators of Nigeria (ABCON) on Friday alerted members of the public about ongoing security investigation into fake $100 bills allegedly imported into Nigeria from India.

ABCON partners EFCC on campaign against money laundering

The Association of Bureaux De Change Operators of Nigeria and the Economic and Financial Crimes Commission have extended the campaign against money laundering and terrorism financing to Bureaux de Change operators at the Murtala Muhammed Airport 2 (MM2), Lagos.

ABCON: CBN should make Bureaux de Change direct agents of IMTOs

Association of Bureaux De Change Operators of Nigeria, ABCON, has called on the Central Bank of Nigeria, CBN, to implement provisions of its 2014 circular which makes BDCs direct agents of international money transfer operators, IMTOs, as obtained in other countries.

Analysts predict spike in December inflation rate

As the National Bureau of Statistics (NBS) releases its December 2018 inflation figures this week, leading research firms in the country, FSDH Research and Financial Derivatives Company (FDC), said in their forecasts at the weekend that the nation’s inflation rate for December 2018 would increase.
An employee shows US dollar banknotes at a foreign currency brokerage office in Khartoum on October 7, 2018. - Sudan slashed the official value of its currency against the US dollar by more than half on October 7, the third devaluation this year in the face of a mounting economic crisis. (Photo by ASHRAF SHAZLY / AFP)

Naira ends 2018 stable with central bank, bureaux de change deal

The strategic partnership between the Central Bank of Nigeria (CBN) and Association of Bureaux De Change Operators of Nigeria (ABCON) on foreign exchange (forex) supplies and sustenance of market integrity helped the naira’s stability in 2018.

Group praises central bank policies under Godwin Emefiele

The Coalition of Civil Society Group (COCSG) has commended the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, for implementing policies that have helped stabilise the economy.

Central bank spends $20.91 billion in six months to defend naira

Within a space of six months this year, the Central Bank of Nigeria (CBN) has so far expended about $20.91 billion to stabilise the naira at the various segments of the foreign exchange (forex) market.

The wrong way to defend the naira

The Central Bank of Nigeria has injected over $10.97bn, into the Forex Market between January and October this year, to defend the Nation’s currency, the Naira, against other major currencies, including the dollar.” (See Punch Newspaper report of November 18th 2018 titled “CBN Defended Naira with $11bn in 10 months”).

ABCON: Central bank’s new rule on bureaux de change difficult to implement

The Association of Bureau De Change Operators of Nigeria (ABCON) has said that Central Bank’s new corporate governance policy limiting the tenure of directors of BDCs might be difficult to implement.

ABCON kicks as banks suspend BDCs’ accounts over tax remittance

The Association of Bureau de Change Operators of Nigeria has kicked against the on-going banks’ suspension of bureau de change (BDC) accounts and demanded for tax remittances on turnover volumes.

Banks suspend Bureaux de Change accounts over tax remittance

Banks have placed a ‘Post no Debit’ notice on the accounts of some Bureaux de Change operators, demanding that they remit taxes on their transaction turnover.

Central bank injects $210m into foreign exchange market

The Central Bank of Nigeria (CBN) on Tuesday injected 210 million dollars into the inter-bank Foreign Exchange Market to sustain liquidity.

Naira weakens marginally against dollar

The Naira on Tuesday weakened marginally against the dollar at the parallel market in Lagos, the News Agency of Nigeria (NAN) reports.

Bureaux de Change want Chinese Yuan for customers

The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the CBN to approve Renminbi (Yuan) disbursements to its members to deepen the China-Nigeria Swap deal.

Central bank orders commercial banks to sell forex to customers, non-customers

As the Central Bank of Nigeria (CBN) at the weekendordered all Deposit Money Banks (DMBs) to sell forex to travellers over the counter, the Association of Bureaux De Change Operators of Nigeria (ABCON) has kicked against the order calling on the regulator to review BDC’s dollar purchase rate to align with rate commercial banks’ buying rate.

Central bank mandates bureaux de change to access foreign exchange window thrice weekly

The Central Bank of Nigeria has made it mandatory for all the Bureau de Change operating in Nigeria to access Foreign Exchange from it thrice a week.

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Bauchi guber: INEC resumes collation of results after court’s judgement

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Tunde Fashola: Nigeria needs N10 trillion infrastructure bond to curb deficit

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Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), says the agency will monitor campaign funds donated to political parties for the 2019 elections as well as donors’ identities.

Ibrahim Magu: Over N1.3 trillion stolen under ex-President Jonathan

Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), has disclosed that the money stolen by 32 entities (human and corporate) between 2011 and 2015 (years when former President Goodluck Jonathan was in office) is well over N1.3 trillion.

Aviation Minister: Federal government to revisit national carrier project

Minister of State for Aviation Hadi Sirika, yesterday, said plans were underway by the Federal Government to revisit the national carrier project.