A magistrate court sitting in Port Harcourt has remanded 16 Bureau De Change, BDC, operators in the Port Harcourt Correctional Centre for unlawful banking business. This decision by Magistrate Alatuwo Fubara on Wednesday follows an ex parte application submitted by the police, seeking additional time to conclude their investigation before …
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The Central Bank of Nigeria (CBN) resumes this week’s foreign exchange market intervention today with a disbursement of $240 million. Of the sum, $90 million is for invisibles – business/personal travel allowances, medical, school fees, among others, while $150 million goes to interbank wholesale auction window targeted at real sector …
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The Central Bank of Nigeria has approved a Special Secondary Market Intervention Retail Sales for airlines operating in the country to enable them to access foreign exchange. The Deputy Director, Press and Public Affairs, Ministry of Transportation, Mr. James Odaudu, announced the plan in a statement in Abuja on …
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The Central Bank of Nigeria has approved an increase in the maximum amount that would be sold to each licensed Bureau De Change operator from $30,000 to $50,000 per week. The decision was taken at the Bankers’ Committee meeting which was held at the headquarters of the CBN on Tuesday …
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