Can Nigeria survive naira devaluation, COVID-19 crisis, oil price crash?
Though the Central Bank of Nigeria (CBN) has continued to deny the fact that it had technically devalued the Nigerian naira, financial pundits refused to be confused after all. Whereas many resisted being convinced by choice of words used by…
Can naira recover from round-tripping over falling oil price?
Activities at the nation’s foreign exchange market last week may continue to hold negative sway this week as Coronavirus-indicted oil price record low of $35 which further crashed dollar to N420 is still a global issue. Recall that the Nigerian…
Fake minted $100 smuggled from India flood Nigeria—ABCON warns
The leadership of Association of Bureaux De Change Operators of Nigeria (ABCON) has warned Nigerians dealing in businesses that involve use of United States dollars considering the prevalence of fake 100 USD. The group said there are many fake $100…
System automation to deepen regulation compliance—ABCON President
President of the Association of Bureaux de Change Operators of Nigeria (ABCON), Mr. Aminu Gwadabe, has given more reasons why the recent automation of their system in line with integration to Nigeria Inter-bank Settlement System, Nigeria Financial Intelligence Unit and…
ABCON claims its partnership with CBN largely stabilized the naira
Whereas there seems to be a regime of forex stability even though exchange remained on the high side, the leadership of the Association of Bureaux De Change Operators of Nigeria (ABCON), has traced the observed strategic partnership between the Central…
ABCON welcomes move by FG to return Nigeria to JP Morgan Index
The Association of Bureaux De Change Operators of Nigeria (ABCON) as described the current plan of the federal government to to return Nigeria to JP Morgan Index excites, saying the switch will mean well for the economy. In a statement…
Open more forex access centres, avoid evening payments to us, ABCON tells CBN
Leadership of the Association of Bureaux De Change Operators of Nigeria (ABCON), the union of licensed bureau de change operators in the country has called for more three payment centres in Port-Harcourt, Ibadan, and Benin by the Central Bank of…
ABCON boss leaks key cause of persistent naira fall to dollar
Illicit dollar (cash) traffic to Dubai is the key factor that has been frustrating the efforts of the government in firming naira. This was the revelation of the President of the Association of Bureaux De Change Operators of Nigeria (ABCON),…
Experts give reasons why CBN interventions are not saving naira
After several months of routine injection of forex by the Central Bank of Nigeria (CBN) with negligible results in salvaging naira, financial experts have opened up, saying the reasons behind the steady depreciation of the nation’s currency are beyond the…
Forex: CBN’s signals show relevance of BDC as business gone
First of all, no country in the world legalizes the exchange of its currency along the streets, rather in banks through a managed exchange structure driven and monitored by the nation’s central bank. Against this background, there are indications that…
