The Central Bank of Nigeria (CBN) has denied selling foreign exchange (FX) to bureau de change (BDC) operators at the rate of N1,001/$1. CBN, in a post on its X handle, said a circular claiming the apex bank announced the sale of $10,000 to BDCs at the rate of $1001/$1 was “fake”. According to the … Read more
The Nigerian Electricity Regulatory Commission, NERC, has approved 481 Band A areas for the purpose of implementing the new tariff. Documents obtained from the regulator indicated that the Abuja Electricity Distribution Company, AEDC, emerged the highest with 107. Yola Electricity Distribution Company, YEDC, has 15, apparently the least. A breakdown indicated that the Ikeja Electricity … Read more
The Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change operators (BDCs), disclosing that each BDC has been allocated $10,000 at a rate of N1,251 per dollar. According to the circular, which was issued on Monday, BDCs are required to sell the assigned dollars to qualifying clients at a cost no … Read more
The Central Bank of Nigeria (CBN) has announced plans to offer foreign exchange worth $20,000 to any eligible Bureau De Change operator across the country. This comes more than two years after suspended former CBN governor Godwin Emefiele prohibited the sale of foreign exchange to BDC operators in that area of the FX market. The … Read more