Tag: Foreign exchange

BDCs Take Center Stage Again As CBN Issues New Guidelines For Sale Of Dollar

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BDCs Take Center Stage Again As CBN Issues New Guidelines For Sale Of Dollar

The Central Bank of Nigeria has announced it’s plans to reintroduce Bureau de Change Operators in Nigeria into the foreign exchange market a few days after threatening speculators. The bank announced its reintroduction in a circular addressed to BDCs and the public titled, ‘Operational Mechanism For Bureau De Change Operations In Nigeria.’ The development is…

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Finance and Economy

FG Floats Naira As Tinubu Commenced Monetary Policy Reforms

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FG Floats Naira As Tinubu Commenced Monetary Policy Reforms

Indicators emerged yesterday that President Bola Ahmed Tinubu’s promise to carry out monetary policy reforms, particularly to ensure a single exchange rate for Nigeria has begun to be effected. The new management of the Central Bank of Nigeria (CBN) yesterday adopted a clean float foreign exchange management, a possibility it foreclosed for years. In a…

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Finance and Economy