Business
CBN Gives Fresh Guidelines For Forex Sale By BDCs Two Years After Ban
This move is expected to provide more stability and transparency to exchange rate fluctuations…
The Central Bank of Nigeria (CBN) on Friday unveiled a series of fresh operational guidelines for forex sales by Bureau de Change (BDC) operators in the country.
VerseNews learnt that this is coming more than two years after the suspended CBN governor, Godwin Emefiele, announced the suspension of foreign exchange sales to BDC operators in that segment of the forex market.
Under the new framework, the spread on buying and selling by
This move is expected to provide more stability and transparency to exchange rate fluctuations, ultimately benefiting both BDC operators and the general public.
Meanwhile, the apex bank has issued an advisory note on the illegal activities of financial operators in the country in an effort to guide the general public against falling victim to Ponzi scheme operators and loan sharks.
While raising concerns over the increasing rates of illegal financial operators, the CBN in a statement released on its website explained that the activities of IFOs portend a grave risk to the country’s financial system.
The apex bank, through its Financial Services Regulation and Coordinating Committee (FSRCC), has asked the public to refrain from dealing with unlicensed or illegal financial operators who lure and defraud unsuspecting members of the public by offering extraordinary returns on investments.
Christians in Northern Nigeria Suffer Repeated, Coordinated, Clearly Targeted Attacks, CAN Raises Alarm
The Christian Association of Nigeria (CAN) has raised fresh concerns over what it described as sustained, targeted attacks on Christian...
Senate Seeks Mass Recruitment of 100,000 Nigerian Youths Into Military to Tackle Insecurity
The Senate has urged President Bola Ahmed Tinubu to immediately authorize the recruitment of 100,000 youths into the armed forces.
BREAKING: All University Will Be Closed Till Further Notice, ASUU Declares Nationwide Strike
Nigerian public universities might be shut down as the Academic Staff Union of Universities (ASUU) is set to embark on...
‘Food Items are Now Cheap’: Relief for Nigerians as Prices of Rice, Garri, Others Drop in States
Some traders and agriculture stakeholders in Ogun, Oyo, and Kwara States have expressed delight at the drop in food prices,...
Reps Set Aside Thursday for Full-Day National Security Debate as Insecurity Worsens
The House of Representatives has dedicated Thursday to a full-day national security debate, following rising cases of kidnapping, killings, and...
ASUU Rejects FG’s 35% Salary Increase, Calls Offer ‘Wretched’ and Threatens Indefinite Strike
The Academic Staff Union of Universities (ASUU) has dismissed the federal government’s proposed 35% salary increase for lecturers.
BREAKING: 44 Federal Lawmakers Write Tinubu, Demand Nnamdi Kanu’s Release
Forty-four serving federal lawmakers have jointly written President Bola Tinubu, urging him to invoke constitutional powers to release Nnamdi Kanu.
Remi Tinubu Seeks Evidence-Based Policy To Protect Nigerian Children
First Lady, Oluremi Tinubu, has called for stronger, evidence-based policies to protect children from sexual exploitation and abuse.
‘We Will Strip You Naked’: Warri Residents Threaten VeryDarkMan After Mid-Air Fight With Mr Jollof (Video)
Warri residents have issued a fierce warning to activist VeryDarkMan following his mid-air clash with comedian Mr Jollof on a...
Hackers Hack Phones of Dangote and Otedola, Demand Ransom
Hackers have broken into the mobile phones of Nigerian billionaires Aliko Dangote and Femi Otedola, making direct financial demands after...
You must be logged in to post a comment Login