Page 6 - Bongo Adi News Today : Breaking News, Live Updates & Top Stories | Vimarsana

By Rukayat Moisemhe

Intra-African trade routes may be facing a historic blockage as China expands its domineering influnce in the region, touted as the most commercially dependent across the globe.

President Muhammadu Buhari, yesterday, before a joint session of the National Assembly, unveiled a record N16.39 trillion ‘‘Budget of Economic Growth and Sustainability’’ for 2022...

Economists and financial experts interviewed by Daily Trust expressed mixed feelings about the new policy and its immediate and long term implications. They predicted a shock that will further shot up the dollar rates at the parallel market, which will stabilise in the long run. They also blamed the CBN for the downside of the expunged practice. Emefiele also said the CBN will no longer continue registration of new BDCs as subsequent forex will be channelled through commercial banks. The CBN governor said as part of the new forex sales policy, all commercial bank branches will create a separ...

• 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 br...