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Forex: CBN assures customers of banks' compliance pulse.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pulse.ng Daily Mail and Mail on Sunday newspapers.
Emmanuel Onyebeke: Stoppage of sales of FOREX to BDCs - Another courageous policy by CBN dailypost.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailypost.ng Daily Mail and Mail on Sunday newspapers.
'We've set up dedicated teller points for FX' -- banks notify customers thecable.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thecable.ng Daily Mail and Mail on Sunday newspapers.
Image source: Techcabal The Central Bank of Nigeria has directed commercial banks in the country to create mobile applications that will enable easy sales of foreign exchange (FX or forex) to retail customers. The directive comes after the CBN, on Tuesday, halted its weekly allocation of forex to Bureau de Change companies (BDCs), whose primary responsibility is the sale of minimal amounts of dollars to citizens for small-time payments such as overseas school fees. The regulator had accused them of violating their terms of operation. According to the apex bank, money changers in the country have been involved in manipulating exchange rates, rent-seeking, and money laundering activities. It plans to commence the refund of licensing fees and the ₦35 million minimum capital deposits to applicants of BDC licenses soon. ....
BDCs still provide forex services —ABCON tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.