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Top News In பணம் இருப்பு ரேஶியோ Today - Breaking & Trending Today

In rare courage, CBN weakens BDC operations, stops FX funding

• Indicts operators for money laundering
• We receive 5,000 fresh BDC applications monthly, says Emefiele
• MPR, other monetary parameters retained
• Decision a rumour until we see CBN circular, operators insist
• Cordros Research: Discontinuation of FX to BDC will affect exchange rate
• Nigeria to launch digital currency ‘e-naira’ in Oct
The Central Bank of Nigeria (CBN), in a rare courage, yesterday, ended foreign exchange (FX) supply to bureau de change (BDC) operators and registration of new players with immediate effect.
Governor of the CBN, Godwin Emefiele, in a media briefing on the outcome of the Monetary Policy Committee (MPC) meeting, accused BDC operators of rent-seeking behaviour and involvement in money laundering activities, adding that the authority receives about 5,000 fresh applications monthly. ....

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CBN Releases $200m to Banks to Quell FX Speculation

CBN Releases $200m to Banks to Quell FX Speculation
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CBN Suspends Sale of FOREX to BDCs

FOREX sale now to be conducted by banks
Retains interest rate at 11.5%
James Emejo in Abuja
Citing various regulatory infractions and other unwholesome practices, the Central Bank of Nigeria (CBN) Tuesday said it will henceforth discontinue the sale of forex to Bureau De Change operators (BDCs) in the country.
The CBN Governor, Mr. Godwin Emefiele, after the two-day meeting of the Monetary Policy Committee (MPC) in Abuja, further directed all commercial banks to with immediate effect, create designated branches for the sale and disposal of FOREX to customers who deserve it for legitimate purposes.
The apex bank added that commercial banks were now permitted to begin to accept cash deposits of foreign exchange from their customers. ....

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Breaking: CBN Suspends FOREX Allocation to BDCs

Breaking: CBN Suspends FOREX Allocation to BDCs
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UPDATED: Nigeria retains monetary policy rate at 11.5% to boost economic

UPDATED: Nigeria retains monetary policy rate at 11.5% to boost economic
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