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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.
The Economic and Financial Crimes Commission (EFCC) says an investigation is ongoing on the seized $2.8 million at Akanu Ibiam International Airport, Enugu.

EFCC arraigns bank employees for alleged £100,000 fraud

The Economic and Financial Crimes Commission has arraigned three suspected fraudsters and their company before Justice Z.B. Abubakar of the Federal High Court sitting in Kaduna on two counts of conspiracy and fraud.
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.

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.

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.

Naira converges at N360 to dollar across major market segments

The Naira on Tuesday converged at N360 to the dollar across the major foreign exchange market, the News Agency of Nigeria 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.

Naira weakens against dollar at parallel market

The Naira on Wednesday fell by one point exchanging at N361.5 to the dollar at the parallel market in Lagos.

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.

ABCON chief warns of looming election-induced capital flight

Ahead of the 2019 general elections, the President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, has warned of a possible capital flight.

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