BDC

The Central Bank of Nigeria has introduced the FX BDC Purchase Tracker (FXBT), enabling real-time monitoring of Bureau De Change foreign exchange purchases and transactions across the official market. Licensed BDC operators must now resell any unused foreign...

April 28, (THEWILL) — The Central Bank of Nigeria (CBN) has sustained restrictions on Bureau De Change (BDC) operators’ access to the official foreign exchange market, underscoring ongoing concerns about regulatory control, compliance risks, and past market abuses. Insights...

February 11, (THEWILL) — The Central Bank of Nigeria (CBN) has reopened the foreign exchange (FX) sales window to Bureau De Change (BDC) operators in a renewed effort to narrow the widening gap between the official and parallel market...

April 23, (THEWILL) - The Central Bank of Nigeria (CBN) has announced the sale of $10,000 to Bureau De Change (BDC) operators at the rate of N1,021/$1. A letter signed on Monday, April 22, by Dr. Hassan Mahmud,...

March 25, (THEWILL) - The Central Bank of Nigeria (CBN) has sold $10,000 to each Bureau De Change (BDC) operator at the rate of N1,251/$1. The apex bank, in a statement issued by its Director, Trade and Exchange Department,...

March 04, (THE WILL)- A Federal High Court in Lagos has struck out the charges of conspiracy and unlawful operation of forex trading against 19 Bureau De Change (BDC) Operators. The defendants include Ibrahim Jubril, Abdullahi Abubakar, Ibrahim Hassan,...

February 24, (THEWILL) - The Central Bank of Nigeria (CBN) has mandated foreign exchange sellers to Bureau De Change (BDC) of the equivalent of 10,000 dollars and above to declare their forex sources. Haruna Mustapha, Director, Financial Policy and...

February 01, (THEWILL) - Bureau De Change (BDC) operators in Abuja have announced an indefinite shutdown of business over scarcity of US dollars. Abdulahi Dauran, Chairman of the Abuja chapter of the Association of BDC, said online banking transactions...

November 02, (THEWILL) - The Association of Bureau de Change Operators of Nigeria (ABCON), has warned its members against being cash couriers for looters. The cautionary remarks followed Tuesday's raid of black market currency operators in Abuja, by operatives of...

November 02, (THEWILL) - Operatives of the Economic and Financial Crimes Commission (EFCC,) on Tuesday, raided some black market forex offices in Abuja. According to a report by PREMIUM TIMES, the anti-graft officials stormed the Sheraton Hotel area of Abuja,...