News Formal

BDCs ask CBN to ban non-oil exporters from obtaining FX at official market

  • 📰 DailyPostNGR
  • ⏱ Reading Time:
  • 40 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 59%

BDC News

CBN

The Association of Bureau De Change Operators of Nigeria, ABCON, has told the Central Bank of Nigeria, CBN, to ban non-oil export domiciliary account holders from obtaining foreign exchange through the official market. ABCON's president, Aminu Gwadabe, disclosed this in a Thursday Lagos statement.

The Association of Bureau De Change Operators of Nigeria,

, has told the Central Bank of Nigeria, CBN, to ban non-oil export domiciliary account holders from obtaining foreign exchange through the official market. 's president, Aminu Gwadabe, disclosed this in a Thursday Lagos statement. According to him, preventing non-oil export holders from obtaining FX from the official window would help increase the availability of dollars in the market and contribute to the growth of the country's financial reserves, thereby sustaining the Naira's gains against the dollar.

.' Recall that CBN began the distribution of another $10,000 to each valid BDC operator at a reviewed rate of N1,101 per dollar. On Monday, the Naira continued its appreciation against the dollar for over four weeks, which stood at N1,230.61 per dollar.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Recall of BDCs has led to market stability' -- ABCON lauds CBN's FX policiesNigeria's independent online newspaper
Source: thecableng - 🏆 2. / 80 Read more »