BDC Operators

EFCC Arrests Over 200 BDC Operators Nationwide Over Alleged Forex Scam

The Economic and Financial Crimes Commission (EFCC) has apprehended more than 200 individuals across Nigeria in a sweeping crackdown on foreign exchange scams and financial market manipulation. This unprecedented operation aims to

Emmanuel Ochayi

7 months ago

Business·Latest News·Markets

EFCC Arrests BDC Operators As Naira trades For 1,416/$1

Operatives from the Economic and Financial Crimes Commission (EFCC) reportedly descended on Bureau De Change (BDC) operators in Wuse Zone 4 market on Tuesday as the naira depreciated to N1,416 to a

Emmanuel Ochayi

8 months ago

CPPE Highlights Why Nigerian Govt Should Review Customs FX Rate For Cargo Clearance

Business·Latest News·Markets

Customs Duty: Naira Depreciation Worsens As Exchange Rate Hits N1,441.53/$1

The recent increase in the exchange rate for customs duty collection to N1,441.53 to the USD has sparked concerns among stakeholders, coming at a time when the naira is experiencing significant depreciation.

Emmanuel Ochayi

8 months ago

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

Business·Latest News·Markets

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

8 months 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

10 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

10 months ago

Naira Rises Against Dollar, Ends Week On Positive Note

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

11 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

1 year 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

1 year 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

2 years ago

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EFCC Arrests Over 200 BDC Operators Nationwide Over Alleged Forex Scam

EFCC Arrests BDC Operators As Naira trades For 1,416/$1

Customs Duty: Naira Depreciation Worsens As Exchange Rate Hits N1,441.53/$1

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

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