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The hunt for Sony Playstation 5 and why the CBN may be chasing shadows

CBN: Moving against "rentierism", By Sam Ekpuk

Dollar pulls back on rising optimism

Unease in forex market as dollar heads towards N550/$

Naira sees biggest plunge day after CBN forex ban • CBN maintains stance as BDCs seek truce • This will move market away from rate convergence, Adonri insists • BDCs are anti-market creation, living borrowed time – retired banker • Banks can’t be trusted, may hoard dollars, Mailafia says Twenty four hours after the Central Bank of Nigeria (CBN) came down hard on Bureau De Change (BDC) operators for allegedly facilitating money laundering and other forex infractions, the naira fell significantly against the U.S. dollar at the parallel market, yesterday. x The naira crashed by about five per cent, as the weakening of the BDC operations weighed heavily on the market, raising concern about the near-term outlook of the local currency.  

In rare courage, CBN weakens BDC operations, stops FX funding

• Indicts operators for money laundering • We receive 5,000 fresh BDC applications monthly, says Emefiele • MPR, other monetary parameters retained • Decision a rumour until we see CBN circular, operators insist • Cordros Research: Discontinuation of FX to BDC will affect exchange rate • Nigeria to launch digital currency ‘e-naira’ in Oct The Central Bank of Nigeria (CBN), in a rare courage, yesterday, ended foreign exchange (FX) supply to bureau de change (BDC) operators and registration of new players with immediate effect. Governor of the CBN, Godwin Emefiele, in a media briefing on the outcome of the Monetary Policy Committee (MPC) meeting, accused BDC operators of rent-seeking behaviour and involvement in money laundering activities, adding that the authority receives about 5,000 fresh applications monthly.