BDCs Seek CBN Approval Electronic Forex Trading Bureau de change operators (BDCs) on Wednesday begged the Central Bank of Nigeria to approve the usage of electronic foreign exchange trading to ease demand pressure and facilitate comfort. Alhaji Aminu Gwadabe, the President of Bureaux De Change Operators of Nigeria (ABCON), made the appeal during a webinar […] The legal backing for monetary policy by the Bank derives from the various statutes of the bank such as the CBN Act of 1958 as amended in CBN Decree No. 24 of 1991, CBN Decree Amendments 1993,No. 3 of 1997,No. 4 of 1997,No. 37 of 1998,No. 38 of 1998,1999 and CBN Act of 2007. Section 12 Sub-sections (1) to (5), CBN Act of 2007 (Ammended) President Muhammadu Buhari’s recent directive to the governor of the Central Bank of Nigeria (CBN), to restrict foreign exchange for the purpose of food and fertiliser importation into the ... Before the establishment of the Central Bank of Nigeria (CBN) in 1958 and the enactment of the Exchange Control Act of 1962, foreign exchange was earned by the private sector and held in balances abroad by commercial banks which acted as agents for local exporters. ... Forex Helpdesk: +234 9 462 37827 +234 9 462 37831. Address. Central Bank of ... CBN Suspends forex Transfer on domiciliary accounts – The Central Bank of Nigeria (CBN) has banned the transfer of Foreign Exchange (FX) from one customer to another. According to the apex bank, FX cash lodgements into domiciliary accounts can only be done by the account owners henceforth.
MD/CEO, Cowry Asset Management Ltd, Johnson Chukwu, says Central Bank's action on forex regime would send wrong signals. #CBN....#Forextrading....#Nigeria #C... CBN Lifts Forex Market with $210m CBN Lifts Forex Market with $210m CBN Lifts Forex Market with $210m Subscribe my channel: https://www.youtube.com/channel/UCv2-... Therefore, the CBN will also offer long term forex futures and sales of forex forwards for end users must be trade-backed as well as introduce non-deliverable OTC forex settled trades to help ... Don't forget to subscribe: https://bit.ly/2Hb8hjx Watch more interesting videos: https://bit.ly/34ogCaw Follow Channels Television On: Facebook: https://www.... This video is unavailable. Watch Queue Queue. Watch Queue Queue