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Nigeria ABCON Official Blames CBN Forex Allocation for Naira's Decline
ABCON official highlights inadequate CBN forex allocation as the main driver of Naira depreciation, refuting claims of BDC involvement. Learn about the challenges faced by operators and the broader economic implications of the currency's decline. A senior official from the Association of Bureau...- Nigeria News
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- bdc bureau de change todays exchange rate
- Category: Business
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Nigeria Naira's Downward Spiral: Despite CBN Intervention, Dollar Reigns Supreme in Forex Market
Despite recent efforts by the Central Bank of Nigeria (CBN) to bolster the Naira's value through additional forex injections, the currency continues to struggle against the US Dollar. FMDQ data reveals a further depreciation of the Naira to N1308.52 per Dollar on Wednesday, down from N1,300.15...- Nigeria News
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- bdc bureau de change cbn central bank of nigeria currency depreciation forex market us dollar
- Category: Business
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Nigeria Nigerians Aghast as EFCC Exposes Yahaya Bello's Misuse of $720k from State Account for Child's School Fees
Ola Olukoyede, the chairman of the Economic and Financial Crimes Commission (EFCC), alleges that former Kogi State Governor Yahaya Bello withdrew $720,000 from state funds to pay his child's school fees in advance. Speaking during an interactive session with media executives in Abuja...- Nigeria News
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- bdc bureau de change (bdc) efcc kogi state news ola olukoyede yahaya bello
- Category: Politics
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![Today's Naira Rate [23-04-2024]: Naira Appreciates to N1,250/$ Following CBN's Strategic Dollar Injection](/data/attachments/203/203190-6e202405f2f497d63440ce71bc64dc98.jpg?hash=biAkBfL0l9)
Nigeria Today's Naira Rate [23-04-2024]: Naira Appreciates to N1,250/$ Following CBN's Strategic Dollar Injection
The Naira experienced a notable uptick on Tuesday morning, fueled by the Central Bank of Nigeria's (CBN) strategic move to sell dollars to Bureau de Change (BDC) operators at a discounted rate. This intervention aimed to alleviate the mounting pressure observed in the black market. According to...- Nigeria News
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- bdc bureau de change businessday report cbn central bank of nigeria foreign exchange market naira
- Category: Business
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Nigeria Currency Traders Cheer as Naira Strengthens to N1,250 Per Dollar
The Nigerian naira saw an appreciation to N1,250 per dollar in the parallel foreign exchange market on Monday, marking a 0.43 percent increase from the N1,280 recorded on March 29. Bureau de Change operators in Lagos quoted the buying rate of the dollar at N1,230 and the selling price at...- Nigeria News
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- 1 min read
- bdc foreign exchange market forex market naira exchange rate nigerian economy parallel market
- Category: Business
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Nigeria Abuja's Currency Confusion: BDCs Set Record Straight on $1,000 Dollar Exchange Rates
In Abuja, a recent social media frenzy sparked by claims of the US Dollar exchanging for as high as N1,000 has been debunked by Bureau De Change (BDC) operators. Viral posts circulating on platforms like Facebook and X suggested that the Dollar was commanding prices between N900 and N1,000 at...- Nigeria News
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- abuja currency exchange bdc bdc operators dollar exchange rate
- Category: Metro
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Business Coronavirus: CBN suspends sales of forex to BDCs - Premium Times Nigeria
https://www.premiumtimesng.com/news/top-news/384239-coronavirus-cbn-suspends-sales-of-forex-to-bdcs.html- siteadmin
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- Forum: Business News Links
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Business BDC operators list recipes for stronger naira – Vanguard News
The Association of Bureaux De Change Operators of Nigeria (ABCON) on Wednesday listed recipes for a stronger naira and a more stable exchange rate in 2018. Alhaji Aminu Gwadabe, President of ABCON, said the recipes were agreed at a meeting of the operators in Lagos. Gwadabe urged the CBN to...- curator
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Business Naira to Record Gain Next Week - BDCs
Nigerian naira may stabilise on the parallel market after international money transfer agencies started selling dollars to Bureau De Change operators in line with the Central Bank of Nigeria directive. The naira was quoted at 473 to the dollar on the black market on Friday, compared with 480...- ProfRem
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Business Naira: How New Interbank Market Influenced Parallel Market Rate - BDC President
The Naira on Monday depreciated marginally against the dollar, exchanging at N346/$, the President of the Association of Bureau De Change Operators of Nigeria, Alhaji Aminu Gwadabe, has stated. This follows the launch of the interbank market by the Central Bank of Nigeria, CBN on Monday...- LequteMan
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- Forum: Business News Links
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Business CBN Moves to End Forex Round-tripping , Bars Dollar Sale to BDCs
The Central Bank of Nigeria has made a definitive move to end round-tripping, double-dealing and other practices of unwholesome gaining from the country's foreign exchange market. Round-tripping is the illegal sale of foreign exchange sourced from official market into the unofficial segment of...- LequteMan
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- bdc cbn dollar naira
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- Forum: Business News Links
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