Friday, April 4, 2025
Home Business EXCHANGE RATE  CBN  ALLOCATES $20,000 EACH TO BDC TO STABILISE NAIRA.

EXCHANGE RATE  CBN  ALLOCATES $20,000 EACH TO BDC TO STABILISE NAIRA.

 

In a bid to  rectify the persisting distortions in the retail segment of Nigeria’s foreign exchange market, the Central Bank of Nigeria (CBN) has taken  step to bridge the widening gap in the exchange rate

Through a new circular by Dr Hassan Mahmud, the Director of Trade & Exchange Department,

The CBN , announced its decision to distribute $20,000 to each eligible Bureau De Change (BDC) operator across the country.

This initiative is part of the broader efforts to achieve a market-driven exchange rate for the Naira and alleviate the pressures feeding into the parallel market.

 

 

RELATED ARTICLES

UPDATE ON PAYMENT OF UNINSURED SUMS TO DEPOSITORS OF HERITAGE BANK (IN-LIQUIDATION)

In response to concerns raised by depositors of the defunct Heritage Bank whose balances exceed the maximum deposit insurance limit of N5 million, the...

SAVE THE CONSUMERS CONDEMNS MULTICHOICE’S DISCRIMINATORY PRICING BETWEEN NIGERIAN AND SOUTH AFRICAN SUBSCRIBERS.

The executive Director save the consumer Dr. Aliyu Ilias, a non-governmental organisation committed to defending consumer rights, strongly condemns the recent 21% price increase...

HERSHOWCASE 2025: EMPOWERING WOMEN ENTREPRENEURS TO TRADE BEYOND BORDERS.

The Nigerian Export Promotion Council (NEPC) in collaboration with the International Trade Centre (ITC), is set to host HerShowcase 2025 in Abuja, Nigeria, under...

Most Popular

FG CALLS ON IOCs IN NIGERIA TO RAMP UP INVESTMENT .

The Federal Government has called on International Oil Companies (IOCs) operating in Nigeria to ramp up investments in the country’s oil and gas sector,...

UPDATE ON PAYMENT OF UNINSURED SUMS TO DEPOSITORS OF HERITAGE BANK (IN-LIQUIDATION)

In response to concerns raised by depositors of the defunct Heritage Bank whose balances exceed the maximum deposit insurance limit of N5 million, the...

NNPC LTD READY FOR INITIAL PUBLIC OFFER .

The Nigerian National Petroleum Company Limited says,  is at the final stage of getting listed in the capital market, in keeping with the provisions...

SAVE THE CONSUMERS CONDEMNS MULTICHOICE’S DISCRIMINATORY PRICING BETWEEN NIGERIAN AND SOUTH AFRICAN SUBSCRIBERS.

The executive Director save the consumer Dr. Aliyu Ilias, a non-governmental organisation committed to defending consumer rights, strongly condemns the recent 21% price increase...

Recent Comments