Naira continues depreciation against dollar as CBN issues BDC operators warning

Naira continues depreciation against dollar as CBN issues BDC operators warning

The naira further depreciated against the dollar at the official foreign exchange market to end trading on Thursday as the Central Bank of Nigeria issued Bureau de Change operators a warning to comply with its anti-money laundering and counter-terrorism financing framework. Central Bank of Nigeria exchange rate data showed that the naira dropped slightly to N1,599.93 per dollar on Thursday from N1,599.79 was traded on Wednesday. This showed that…

CBN begins mystery shopping at BDC outlets to bolster compliance with anti-money laundering rules in Nigeria

The Central Bank of Nigeria (CBN) has announced the initiation of mystery shopping exercises across bureau de change (BDC) outlets as part of its intensified effort to ensure strict adherence to anti-money laundering (AML) and counter-terrorism financing (CFT) regulations.   The post CBN begins mystery shopping at BDC outlets to bolster compliance with anti-money laundering rules in Nigeria  appeared first on Nairametrics.

Nigerian Forex Market Update: Naira Weakens Against Major Currencies » News.ng

Recent data from the Central Bank of Nigeria’s (CBN) forex market reveals that the naira weakened against several major currencies in the official window. According to data from the Nigerian Foreign Exchange Market, the naira closed at ₦1,599.7991 against the US dollar, declining by 5 basis points from the previous trading session on Wednesday. This depreciation occurred despite the Central Bank supplying foreign currency to authorized dealer ba…

Naira sheds N0.14 against dollar at official window

The Nigerian currency, the naira’s yoyo movement against the American dollar continued at the official market on Thursday.Data from the Central Bank …

StatePress NG: Naira falls to N1,620/$ at parallel market

Naira Depreciates in Official and Black Markets

The naira weakened against the U.S. dollar on Wednesday across both the official and parallel foreign exchange markets, marking its first depreciation since last week. Bureau De Change operators in Wuse Zone 2 reported that the naira slid to ₦1,620 per dollar at the parallel market, compared to the ₦1,610 rate recorded on Tuesday—reflecting a ₦10 drop in value within 24 hours. At the official market, Central Bank of Nigeria (CBN) data showed a m…