30 results
- 15 Jan 2021
Stanbic IBTC Bureau De Change Discontinues Operations
Stanbic IBTC Holdings Plc has announced that its Bureau De Change subsidiary, Stanbic IBTC Bureau De Change Limited has discontinued business since January 1, 2021, by relinquishing its operating…
- 11 May 2009
Afribank Bureau De Change Assures Customers of Excellent Service
Afribank Nigeria Plc bureau de change has formally opened its doors to customers with a promise of excellent bureau de change services nationwide. The firm, one of the newest additions to…
- 27 Jul 2021
No More Forex Sales to Bureau De Change Operators- CBN
Central Bank of Nigeria (CBN) has stopped the sales of forex to the Bureau De Change operators in the country with immediate effect. Godwin Emefiele, governor, CBN, disclosed this after the Monetary…
- 8 Feb 2010
Illegal Courier Operators Double as Bureau de Change
The Courier Regulatory Department (CRD) of Nigeria Postal Service (Nipost), recently discovered that illegal courier operators, also operate as Bureau de Change in Benin City, Edo State. At a recent…
- 3 Sept 2021
Naira Crashes to N532/$ at Parallel Market as CBN Vacates PND on 33 BDCs
The naira on Friday traded at all time low of N532 to dollar at the parallel market. The naira also dropped among other major currencies as it exchanged at N621/Euro, N721/ British Pounds Sterling.…
- 1 Mar 2024
CBN Revokes Licenses of over 4,000 Bureau De Change Operators
Central Bank of Nigeria (CBN) has revoked the licenses of 4,173 Bureaux De Change (BDC) operators in the country. Yemi Cardoso, CBN Gov The CBN’s Acting Director of Corporate Communications, Sidi Ali…
- 2 Feb 2016
Bureaux de Change Operators to Sack 30,000 Workers
Alhaji Aminu Gwadabe, president, Association of Bureau De Change Operators of Nigeria (ABCON), yesterday said that some 30,000 bureaux de change (BDC) workers would be sacked within the first quarter…
- 27 Jan 2025
CBN Waives 2025 Licence Renewal Fee for Bureaux de Change Operators
Central Bank of Nigeria (CBN) has waived the 2025 licence renewal fee for all bureaux de change (BDC) operators. Jonah Onojah, director of the financial policy and regulation department, announced…
- 2 Mar 2016
Illegal BDCs Manipulate Forex Market- Gwadabe
Alhaji Aminu Gwadabe, president, Association of Bureau de Change Operators in Nigeria, said unauthroised persons posing as Bureau de Change (BDC) operators caused irregular fluctuations in the…
- 26 Apr 2019
Fraudsters Now Working inside Banks- EFCC Boss
Ibrahim Magu, acting chairman, Economic and Financial Crimes Commission (EFCC), has claimed that fraudsters now work in Nigerian banks and also accused banks of conniving with Bureau De Change…
- 8 Apr 2017
EFCC Discovers N.5Bn Hidden in Lagos Plaza
Economic and Financial Crimes Commission (EFCC) on Friday recovered N449 million in an abandoned bureau de change (BDC) in Victoria Island, Lagos. Wilson Uwujaren, spokesman of the commission,…
- 24 Jun 2014
CBN Moves to Check Pressure on Naira
Central Bank of Nigeria (CBN) in a bid to check the persistent depletion in the country’s external reserves yesterday released fresh guidelines for Bureau De Change operators. The development…
- 19 May 2024
ABCON, SEC Partner on Digital Currency P2P FX Sector Harmonization
The Association of Bureau De Change Operators of Nigeria (ABCON) has called for the Securities and Exchange Commission (SEC) guidance and collaboration in harmonising the peer-to-peer forex sector in…
- 2 Mar 2009
CBN Restructures Operations of BDC
The Central Bank of Nigeria is to review the licenses of Bureau de Change (BDC) operators in a move aimed at sanitizing that segment of the foreign exchange market. Professor Chukwuma Soludo,…
- 24 May 2024
CBN Makes Clarification on Revocation of Licenses of BDCs
Central Bank of Nigeria (CBN) has made a clarification on the reported revocation of licenses of Bureau De Change (BDCs). It was reported earlier that in the updated regulatory guidelines for BDC…
- 2 Jul 2014
BDC Operators Meet National Assembly, CBN over Capital Base
Operators of the Bureau de Change yesterday met with the Committees on Finance of both chambers of the National Assembly to seek the intervention of the federal lawmakers on the recent N35m imposed…
- 6 Sept 2024
CBN Sells FX to BDCs @N1 580/$ to Boost Liquidity
Central Bank of Nigeria (CBN) has approved the sale of dollars to bureau de change (BDC) operators at a rate of N1,580 per dollar. In a circular signed by W.J Kanya, the acting director of the trade…
- 12 Feb 2019
Banker Loses N16m to Money Doublers
Oyewole Olabisi, a bank cashier has reportedly lost N16 million fraudsters who promised to double the money for him. Police in Oyo State have arrested and paraded; Lawal Wale (34), Saheed…
- 24 May 2018
Court Jails Union Bank Head of Ops over N450m Fraud
Mr Paul Onwughalu, former Head of Operations at the Head Office of Union Bank Plc in Marina, Lagos, has been sentenced to three years imprisonment for his involvement in fraud to the tune of N450…
- 13 Aug 2026
SEC Orders Immediate Freeze of Assets Linked to Six Terrorism Financiers, Three Entities
Securities and Exchange Commission (SEC) has directed capital market operators to immediately freeze the assets of six individuals and three entities designated as terrorism financiers by the Nigeria…
- 16 Jan 2016
CBN Plans to Impose Travelex on Nigerians- BDC Operators
Association of Bureau de Change Operators of Nigeria (ABCON), has accused the Central Bank of Nigeria (CBN) of plotting to make Travelex, a foreign company the only official outlet for retail foreign…
- 20 Mar 2024
FG Names 15 Terrorism Financiers, BDCs
Federal government said that it has uncovered the identity of 15 entities, including nine individuals and six Bureau De Change operators and firms, allegedly involved in terrorism financing. On…
- 18 Apr 2016
Yuan Deal Forces Dollar to Retreat – BDC Operators
The federal government’s plan to increase the availability of renminbi (Yuan) was already favouring the Naira against the dollar, Mr Aminu Gwadabe, president, Association of Bureau De Change…
- 22 Dec 2024
CBN Permits BDC Operators to Buy FX from NAFEM During Festive Season
Central Bank of Nigeria (CBN) has announced that eligible Bureau de Change (BDC) operators will have temporary access to the Nigerian Autonomous Foreign Exchange Market (NAFEM) to purchase $25,000…
- 27 May 2018
CBN to Sanction Banks, Revoke BDCs Licenses for Forex Hoarding
Central Bank of Nigeria (CBN) on Sunday threatened to sanction banks and review operating licences of Bureau de Change (BDCs) that fail to sell foreign exchange to travelling customers on demand.…
- 1 Apr 2014
Exposed! How Cash Cartels are Conspiring to Kill the Naira
A lethal gang of unscrupulous expatriates; some Deposit Money Banks (DMBs; and Bureau de Changes (BDCs) have all conspired to ensure that the Central Bank of Nigeria (CBN) fails to salvage the…
- 3 Jul 2020
Court Jails Hackers Who Stole N2.Bn from Union Bank
Economic and Financial Crimes Commission (EFCC) has secured the conviction of one Abass Mohammed and Ibrahim Saidu Jogal, a Bureau De Change (BDC) operator. c They connived to hack into the Flexcube…
- 19 Feb 2016
Exporters, Others Responsible for Haemorrhaging Naira- CBN
Central Bank of Nigeria (CBN) says autonomous sources such as exporters and correspondent banks now control the price of dollars in banks and the Bureau de Change (BDC) segment. Mr Mu’azu Ibrahim,…
- 16 Jul 2026
CBN Introduces Digital Tracker to Monitor BDC Forex Transactions
The Central Bank of Nigeria (CBN) has launched a new system to monitor how Bureau De Change (BDC) operators buy foreign exchange in the country. Under the new arrangement, all licensed BDCs must…
- 23 Feb 2024
CBN Raises BDC’s Share Capital to N2bn
Central Bank of Nigeria (CBN) has proposed two categories of Bureau De Change (BDC) licence- Tier 1 and Tier 2- that would see the minimum capital requirement of operators in the former and latter…