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ECONOMY-FINANCE

"As At When Godwin Emefiele Became The Central Bank Governor, 1 Dollar Was #165(NGN)" -Babajide

On the Sunday edition of the Journalists' Hangout, Babajide Kolade-Otitoju shared his thoughts on the rise of the Dollar against the naira and the Central Bank of Nigeria's decision to stop selling foreign exchange, to Bereau De Change operators. Here's an excerpt of Babajide Kolade-Otitoju's statement:

  1 year ago ago

ECONOMY-FINANCE

Today's Headlines: CBN Bans Dollar Sales To BDC Operators, I Will Never Go Back To APC - Tambuwal

CBN Bans Dollar Sales To Bureau De Change Operators Photo Credit: Daily Trust The Central Bank of Nigeria (CBN) has banned the sale of forex to Bureau De Change operators (BDCs). Godwin Emiefele, governor of the bank, announced the ban at a press briefing which held after a meeting of the Monetary Policy Committee of the bank, on Tuesday.

  1 year ago ago
Today's Headlines: CBN Bans Dollar Sales To BDC Operators, I Will Never Go Back To APC - Tambuwal

ECONOMY-FINANCE

CBN's Directive To Banks To Grant Customers Access To Buy Forex On Smartphones May Reduce Long Queue

Credit: Premium Times As a follow-up to the earlier directive banning the sale of foreign exchange to Bureau de Change, the Central Bank of Nigeria (CBN) instructs banks to develop mobile applications TechCabal reports. The move will further give access to customers who want to buy FX.

  1 year ago ago
CBN's Directive To Banks To Grant Customers Access To Buy Forex On Smartphones May Reduce Long Queue

JUSTICE

Boko-Haram: How court proved Falana, Olawumi wrong, after fixing hearing date for 400 BDC operators

Photo Credit: Sahara Reporters According to a news that was published by the Sahara Reporters yesterday evening, it has been alleged that the Federal High Court sitting in Abuja, has fixed date for the trial of 400 Bureau De Change operators, who were earlier arrested by security operatives of the Department of State Services for financing Boko-Haram insurgents in March.

  11 months ago ago
Boko-Haram: How court proved Falana, Olawumi wrong, after fixing hearing date for 400 BDC operators

ECONOMY-FINANCE

Mailafia: Banning US Dollars from exchanges will further devalue the Naira in Nigeria

The former CBN deputy governor has criticized the ban on selling dollars to traders Obadiah Mailafia says stopping foreign exchange bureau De Change could affect the Naira The economist thinks the foreign exchange crisis will start Abuja - Former CBN Deputy Governor Obadiah Mailafia says stopping foreign exchange will not help.

  1 year ago ago
Mailafia: Banning US Dollars from exchanges will further devalue the Naira in Nigeria

POLITICS

Senator Ali Ndume Is Right; 400 BDC Operators, Alleged Boko Haram Sponsors Should Be Tried Publicly

Some time ago the Presidency told us that Nigerians would be shocked if it reveals the identities of those sponsoring the activities of the dreaded Islamic sect "Boko Haram."Over the week, it was gathered from a reliable source that security forces arrested 400 Bureau De Change (BDC) operators alleged to be sponsors of Boko Haram.

  1 year ago ago
Senator Ali Ndume Is Right; 400 BDC Operators, Alleged Boko Haram Sponsors Should Be Tried Publicly

ECONOMY-FINANCE

Buhari Visits Imo State As Naira Falls To N540 Per Dollar

The parallel market has witnessed the downward spiral of the naira to the dollar as it trades at N540 on Thursday. The naira has maintained a steady value as it traded at N530 against the US dollar for a week before the downward spiral of N540 on Thursday. The downward slide in exchange rates follows the suspension of foreign exchange transactions with the bureau de change operators by the Central Bank of Nigeria.

  11 months ago ago
Buhari Visits Imo State As Naira Falls To N540 Per Dollar

MILITARY

Ndume Advises Buhari To Identify The Bureau De Change Operators Funding Terrorism

Senator Ali Ndume of Borno South has urged President Muhammadu Buhari to release the names of 400 Bureau de Change, BDC, operators detained in connection with the suspected funding of Boko Haram terrorists.Ndume asserted that regardless of their rank, their identities should be released and their trial conducted publicly.

  1 year ago ago
Ndume Advises Buhari To Identify The Bureau De Change Operators Funding Terrorism

ECONOMY-FINANCE

Nigerian Naira Value Continues To Drop As It Hits 540 Against Dollar

Earlier today, September 9th, the Nigerain Naira continued to fall downwards on the parallel market, selling for N543 to one dollar, Operators of Bureau De Change in Abuja bought a dollar at N540 which was then sold at N543. Also, the British Pound now sells for £1 to 740 Nigerian Naira.

  11 months ago ago
Nigerian Naira Value Continues To Drop As It Hits 540 Against Dollar

ECONOMY-FINANCE

CBN Set to Shut Down BDC Business: Does Emefiele Have What It Takes?

CBN Governor Godwin Emefiele At a press briefing after a two-day meeting of the Monetary Policy Committee (MPC) Tuesday in Abuja, CBN Governor Godwin Emefiele announced the end of Forex sale to Bureau De Changes (BDCs). He directed all Commercial Banks to immediately create designated branches for the sale and disposal of FX to customers who deserved it for legitimate purposes.

  1 year ago ago
CBN Set to Shut Down BDC Business: Does Emefiele Have What It Takes?

SOCIETY

Man Hacks Into Nigerian Bank’s System, Steals N1.87 Billion.

A suspected hacker, Femi Salau, has been arrested by the police Special Fraud Unit in Lagos State for allegedly hacking into the system of a first-generation bank to defraud it of about N1.868bn. Femi, according to the police, is the kingpin of a syndicate that specializes in hacking into the servers of banks and corporate agencies.

  1 year ago ago
Man Hacks Into Nigerian Bank’s System, Steals N1.87 Billion.

POLITICS

After Garba Shehu Accused BDC Operators Of Funding Boko Haram, Read What Ndume Told Buhari To Do

The security crises of Nigeria took another dimension after Garba Shehu, the official spokesman of President Muhammadu Buhari, disclosed that some Bureau de Change operators were the ones funding Nigeria's nightmare, the Boko Haram.Recall that some time in March, the presidency had said thus: “... Bureau de Change are facilitating money to terrorists.

  1 year ago ago
After Garba Shehu Accused BDC Operators Of Funding Boko Haram, Read What Ndume Told Buhari To Do

SOCIETY

Mompha Reveals why he is being tried by the EFCC

Ismaila Mustapha popularly known as Mompha has revealed to the public the reason why he is being tried by the Economic and Financial Crimes Commission (EFCC). He made this known through a post on his Instagram account, saying that the EFCC is not trying because of Internet fraud, his only crime was because of operating BDC without a license.

  1 year ago ago
Mompha Reveals why he is being tried by the EFCC

SOCIETY

Man Arrested For Swindling Bureau De Change Operator of $10k

A Nigerian man identified as Lukman Adeshina has been arrested by the Economic and Financial Crimes Commission (EFCC) for allegedly defrauding a Bureau De Change operator of $10,000.It was gathered that Adeshina was arrested on April 14, 2021, in the Ipaja-Ayobo area of Lagos State after one Isa Mohammed approached the anti-graft agency to make a complaint against him.

  1 year ago ago
Man Arrested For Swindling Bureau De Change Operator of $10k

ECONOMY-FINANCE

CBN Issues Out New Instructions To All Nigerian Banks

The Central Bank of Nigeria (CBN) has ordered Nigerian banks to make arrangement to begin to sell forex to customers and shouldn't delay or say no to anybody. This order was stated in a 28 July communique that the apex bank sent to all banks in Nigeria.

  1 year ago ago
CBN Issues Out New Instructions To All Nigerian Banks

MILITARY

Identify Terrorism Sponsors, MBF Dares FG

he Middle Belt Forum (MBF) has challenged the Federal Government to comply with a popular demand to expose Boko Haram's supporters, particularly the 400 Bureau de Change (BDC) operators mentioned by UAE authorities, and clear itself of involvement. This was revealed in a communiqué issued after MBF's two-day National Executive Committee (NEC) meeting in Akwanga, Nasarawa State, over the weekend.

  11 months ago ago
Identify Terrorism Sponsors, MBF Dares FG

ECONOMY-FINANCE

Today's Headlines:How CBN Collected N900m From Arrested BDC Operators, Nigeria Loses N4.4b In 2 Days

How CBN collected N900m from arrested 180 BDC operators The Association of Bureau De Change Operators of Nigeria (ABCON), has alleged that each of its180 members nabbed by security operatives for alleged link to terrorism financing was made to pay N5 million penalty to the Central bank of Nigeria (CBN).

  1 year ago ago
Today's Headlines:How CBN Collected N900m From Arrested BDC Operators, Nigeria Loses N4.4b In 2 Days

ECONOMY-FINANCE

At Last CBN Stops Forex Sales To BDC For Aiding Crimes, Illicit Flow Of Cash

The Central Bank of Nigeria (CBN) has finally clamped down on Bureau de Change (BDC) months after 400 of its operators were fingered in sponsoring the deadly Islamic terrorist group, Boko Haram. In April this year, the federal government confirmed the arrest of 400 BDC operators for funding Boko Haram but till date, nothing has been further heard of them and no report of their trial.

  1 year ago ago
At Last CBN Stops Forex Sales To BDC For Aiding Crimes, Illicit Flow Of Cash

SOCIETY

"Reveal Identities Of BDC Operators Arrested For Funding Boko Haram"- Senator Ndume Tells FG

Recall that a presidential spokesman, Garba Shehu had said the government arrested some BDC operators who were funding Boko Haram insurgents, added that Nigerians would be shocked if it revealed the identities of the Boko Haram sponsors.On Monday, 26rh of April, 2021 TheCable reported that A Senator representing Borno South, Ali Ndume has asked the federal government to reveal the identities of all the 400 Bureau De Change operators arrested for funding Boko Haram insurgents.

  1 year ago ago

ECONOMY-FINANCE

ABCON restricts street hawking and lowers interest rates.

The Association of Bureau De Change Operators has announced that it will launch "Operation No Street Trading" to prevent BDC operators from peddling foreign currency. This, according to ABCON President Alhaji Aminu Gwadabe, was one of the resolutions passed unanimously by BDC directors at the operators' meeting on Tuesday in Lagos.

  1 year ago ago
ABCON restricts street hawking and lowers interest rates.