NAFEX

  • General NewsABCON backs CBN’s directive on non-export domiciliary accounts

    ABCON backs CBN’s directive on non-export domiciliary accounts

    The Association of Bureau De Change Operators of Nigeria (ABCON) has commended the Central Bank of Nigeria (CBN) for its recent directive to cease the use of non-oil export domiciliary accounts for Naira loans. Its president, Dr. Aminu Gwadabe, said in a statement on Thursday in Lagos that the stoppage would add to dollar liquidity in the market and also…

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  • Finance

    NAFEX: CBN removes N379/$1 exchange rate from website

    The Central Bank of Nigeria (CBN) has removed the exchange rate of N379/$1 from its website homepage conforming with the bank’s policy that the NAFEX rate is now the default reference exchange rate for official and legitimate transactions. Since the Central Bank last adjusted the exchange rate in August 2020, it has retained the exchange rate of N379/$1 on its…

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