Bureau de change – DIGIT INFO

Nigerian Currency Plunges to New All Time Low — Central Bank Blames Speculators

DIGIT — Sat, 30 Jul 2022 07:30:06 +0000

The Nigerian central bank has accused currency speculators of being behind the local currency’s recent plunge to a new all-time low of N710 against the greenback. The leader of a Nigerian association of bureau de change operators insisted crypto trading may be to blame for the naira’s recent plunge in value. Nigerians Converting to USD […]

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Nigerian Lawmaker Proposes Closure of All Domiciliary Accounts in Order to Save Imperiled Naira

DIGIT — Thu, 30 Sep 2021 10:30:47 +0000

Nigerian lawmaker Ibrahim Obanikoro has called on Nigerian authorities to “close all domiciliary accounts for the next 12 months.” Such a move, he argues, will help to ease pressure on the naira, which has depreciated by more than 10% in the past two months. The Naira’s Continuing Depreciation The call by Obanikoro comes nearly two […]

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Nigerian Foreign Exchange Crisis: Central Bank Issues Warning to Microfinance Banks

DIGIT — Tue, 24 Aug 2021 00:55:00 +0000

The Central Bank of Nigeria (CBN) has threatened punitive sanctions against microfinance banks that violate the conditions of their operating license through the performance of foreign currency-related transactions. In its latest circular, the CBN claims that microfinance banks have a very low capitalization hence their handling of such transactions threatens the stability of the financial […]

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Nigerian Central Bank Stops Forex Sales to Bureaus de Change — Operators Accused of Feeding Black Market

DIGIT — Wed, 28 Jul 2021 08:30:35 +0000

The Central Bank of Nigeria (CBN) recently announced the abrupt end to sales and outsourcing of foreign exchange to Bureau de Change (BDC) operators after accusing them of failing to stick to their core mandate. Instead of providing forex to retail users, BDCs are believed to be supplying the scarce resource to so-called “illegal” dealers. […]

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Nigeria Bureau De Change Association Boss Accuses Speculators of Destabilizing the Naira— Says Central Bank Funding Will End Currency Woes

DIGIT — Sat, 22 May 2021 12:00:29 +0000

According to the head of the Nigerian group of bureau de change operators, the naira’s continued fall on the parallel market is down to the activities of speculators. However, Aminu Gwadabe, the president of the Association of Bureau de Change Operators of Nigeria (ABCON), suggests that only a “massive funding” of bureau de change (BDC) […]

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Nigeria’s Foreign Currency Crisis Boon for Bitcoin: Country Tops Wallet Downloads Ahead of the US

DIGIT — Fri, 21 Aug 2020 21:00:37 +0000

Nigeria’s weakening naira currency, as well as the shortage of U.S. dollars, are forcing businesses to switch to bitcoin as the means of settling payments for international transactions. Nigerian businesses need the American currency to buy new supplies, as well as to order essential equipment from abroad. However, formal sources of foreign currency like banks […]

The post Nigeria’s Foreign Currency Crisis Boon for Bitcoin: Country Tops Wallet Downloads Ahead of the US appeared first on Bitcoin News.

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PR: Remco – Powerful Distributed Token Generating Platform

DIGIT — Mon, 12 Aug 2019 09:30:45 +0000

remittancetoken.io – Token-Generating Platform for Money Transfer currently trading on Digifinex has announced it’s sponsoring blockchain Finance Lagos conference event in Africa’s largest market, Nigeria. Offering free flight ticket and accommodation to the qualified speakers.

The post PR: Remco – Powerful Distributed Token Generating Platform appeared first on Bitcoin News.

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