The naira has in over 18 months remained stable at both the official and parallel markets despite several odds facing it ahead of the 2019 general elections, President, Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji (Dr.) Aminu Gwadabe has said. Speaking to journalists in Lagos, the ABCON boss commended the Central Bank […]
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The Association of Bureaux De Change Operators of Nigeria (ABCON) will tomorrow launch its live run automation portal in Lagos. The initiative is expected to automate all BDCs’ operations with the Nigeria Inter-bank Settlement System (NIBSS), Nigeria Financial Intelligence Unit (NFIU) and Central Bank of Nigeria (CBN). It is aimed at improving the level of […]
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The Association of Bureaux De Change Operators of Nigeria has said that the 163 per cent increase in dollar sales to bureaux de change, to the tune of $3.1 billion in the first half of the year, helped to sustain exchange rate stability and protected 25,000 jobs in the subsector. The President, ABCON, Alhaji Aminu […]
Read More The Central Bank of Nigeria issued new operational licences to 366 Bureau De Change operators between January 2018 and May 31, 2018, a new report by the apex bank indicated. The report on the ‘Functions, operational guidelines and compliance for BDC operations in Nigeria’ was prepared by the Other Financial Institutions Supervision Department of the […]
Read More The Central Bank of Nigeria, CBN, yesterday confirmed operations of 4,106 Bureau De Change (BDCs) and 76 finance houses. The report on approval, posted on CBN website, also showed that the apex bank confirmed the operations of 1,028 microfinance banks (MfBs), two regional banks, three banks with Holding Company structures, five merchant banks, one non-interest […]
Read More The Association of Bureau De Change Operators of Nigeria (ABCON) on Tuesday, pledged to assist in reducing the plight of the Internally Displaced Persons (IDPs) in the North-East. Alhaji Aminu Gwadabe, President of the group, made the pledge in an interview with the News Agency of Nigeria (NAN) in Lagos. Gwadabe said that members of […]
Read More In line with its effort to sustain the interventions in the foreign exchange market of the nation’s inter-bank market, the Central Bank of Nigeria (CBN), has issued fresh licenses to a list of 3,389 approved Bureaux De Change (BDCs) operators as at August 8th, 2017. This represents an increase by 150, the number of those […]
Read More The Nigeria Central Bank on Thursday said it would from next Monday begin the sale of foreign exchange to Bureau De Change operators twice weekly. The Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okoroafor, who confirmed this, stated that the move was part of the apex bank’s determination to sustain the liquidity in the […]
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