Cbn extends frequency of forex to bdcs

Cbn extends frequency of forex to bdcs

31/05/ · CBN extends frequency of forex to BDCs Senate screens board nominees - From Kayode Ekundayo, Lagos & Ismail Mudashir FLIGHT SCHEDULE The Central Bank of Nigeria (CBN) said it has extended the frequency of sales of foreign exchange to licensed Bureau de Change (BDC) operators to three days CBN Extends Stamp Duty Collection To Savings Accounts / Forex Curbs: CBN Moves To Ease Importers' Plight / When CBN Extends BVN Registration Date (photo) (1) (Reply) (Go Down) CBN Extends Forex Curbs To Export Proceeds, Bdcs by Adesiji am On Jul 02, 02/08/ · by Op-Ed Contributor. August 2, in Columnists, Opinions, Spotlight. The latest decision of the Central Bank of Nigeria (CBN) to stop the sale of FOREX to Bureau De Change (BDC) operators due to the reported abuses that have characterized their transactions since the commencement of regular issuance of up to $10,, twice a week or thereabout

Coronavirus: CBN suspends sales of forex to BDCs

This is as the apex bank still sells dollars to BDC operators at N to a dollar. The apex bank made this known on Thursday via a statement posted on its website. This, it further said, was in continuation of its determination to sustain liquidity in the foreign exchange market.

However, this latest development will take effect from Monday, April 3,when it said cbn extends frequency of forex to bdcs would announce a new rate. The bank urged licensed BDC operators to fund their accounts with it on Mondays and Wednesdays, while they receive their purchases on Tuesdays and Thursdays respectively. Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria, cbn extends frequency of forex to bdcs.

Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour. The Central Bank of Nigeria CBNin its bid to moderate and control the prices of maize in the Nigerian market, has approved the release of 50, metric tonnes of maize to 12 major producers in the country.

The CBN listed the recipients of the grains as Premier Flour Mills, Crown-Olam, Grand Cereals, Obasanjo Farms, Animal Care, Amobyn and Hybrid Feeds, Zartech, cbn extends frequency of forex to bdcs, Wacot, Sayeed Cbn extends frequency of forex to bdcs, Pandagri Novum and Premium Farms.

The release of 50,Mt of maize to the companies, which is the third of such releases, is also intended to check the activities cbn extends frequency of forex to bdcs middlemen aimed at causing hoarding the product and causing artificial scarcity.

Speaking on the release of the grains, the CBN spokesman, cbn extends frequency of forex to bdcsMr Osita Nwanisobi, expressed optimism that the development would crash the price of maize, reduce pressure on the market and make the product directly available to feed producers, thereby reducing the price of poultry feed in the cbn extends frequency of forex to cbn extends frequency of forex to bdcs. Also speaking on the development, the National President of the Maize Association of Nigeria MAANMr Bello Abubakar, urged middlemen to desist from taking advantage of the supply gap to hike the price of the grains.

He also assured that farmers in Nigeria would maintain reasonable pricing of the products. It will be recalled that the CBN, responding to the activities of middlemen in Januaryreleasedmetric tonnes of maize, which forced a substantial reduction in the price of maize per metric tonne.

Similarly, the Bank, in a renewed move to address the rising cost of food prices in the Nigerian market, collaborated with the Rice Farmers Association of Nigeria RIFAN to distribute 27, metric tonnes of rice paddies directly to millers nationwide on Thursday, June 24, A total of 19 market indices have been rebranded by the Nigerian Exchange NGX Limited to reflect the transformation of the Nigerian Stock Exchange NSE into NGX.

A statement from the exchange disclosed that the market indicators had their prefixes modified into NGX from the former NSE with effect from Monday, June 28, There are currently 19 indices — either wholly-owned or co-branded — on NGX, servicing the investment management community along the lines of product development, benchmarking.

Designed using the market capitalisation methodology, the indices are rebalanced on a semi-annual basis on the first business day in January and in July. As earlier stated, the recent demutualisation led to the transformation of the NSE to a non-operating holding company, Nigerian Exchange Group Plc. Consequently, the group now has three wholly-owned operating subsidiaries: NGX, the operating exchange; NGX Regulation Limited NGX RegCothe independent regulation company; and NGX Real Estate Limited NGX RelCothe real estate company.

The trading symbol of The Initiates Plc has been changed by the Nigerian Exchange NGXa notice has confirmed. The symbol was modified to TIP from INITSPLC, the disclosure stated. The firm is a professional waste management company based in Port Harcourt, Rivers State, delivering waste management, industrial cleaning and decontamination services to both private and public sectors. Business Post reports that shares of The Initiates closed flat at the stock exchange on Monday at 47 kobo.

The firm has shares outstanding ofunits and a total market value of N The Initiates boasts of an experienced management team led by Mr Ossai Reuben Mustapha, who is a Chartered Waste Manager and Environmentalist with over 20 years of professional experience.

He holds an MEng degree in Environmental Engineering. He is a professional member of the Chartered Institution of Waste Management UKand International Solid Waste Association ISWAVienna. Connect with us. Share Tweet. ALSO READ eTranzact Seeks Fresh N7b to Remain Competitive.

Share this: Tweet. Like this: Like Loading Related Topics: BDC Operators BDCs CBN forex supply. Up Next NSE Index Sheds 0. Modupe Gbadeyanka. You may like. Despite Denial, Stats Show Unity Bank is Troubled, cbn extends frequency of forex to bdcs, Auditors Raise Red Flag. CBN Improves Access to Loans for Farmers, Unveils Maize Pyramids.

eTranzact, PayPal Among 47 CBN-Licensed IMTOs. Lagos, PH BDC Cbn extends frequency of forex to bdcs Trade Dollar at N Click to comment. Leave a Reply Cancel reply. Economy CBN Releases 50,MT of Maize to Obasanjo Farms, 11 Others.

Published 11 hours ago on June 28, cbn extends frequency of forex to bdcs, By Adedapo Adesanya. By Adedapo Adesanya The Central Bank of Nigeria CBNin its bid to moderate and control the prices of maize in the Nigerian market, has approved the release of 50, metric tonnes of maize to 12 major producers in cbn extends frequency of forex to bdcs country. ALSO READ No Conflict Between CBN, Finance Ministry—Adeosun.

Continue Reading. By Dipo Olowookere, cbn extends frequency of forex to bdcs. By Dipo Olowookere A total of 19 market indices have been rebranded by the Nigerian Exchange NGX Limited to reflect the transformation of the Nigerian Stock Exchange NSE into NGX. ALSO READ Nigerian Banks Strong To Absorb Loses—CBN. ALSO READ Power Fund: CBN Threatens To Sanction Banks. Economy NGX Changes Trading Symbol of The Initiates Plc. Published 12 hours ago on June 28, By Dipo Olowookere The trading symbol of The Initiates Plc has been changed by the Nigerian Exchange NGXa notice has confirmed.

ALSO READ Disappointing Chinese Trade Data Weigh on US Stocks. ALSO READ CBN To Fund Day Forward Sales. Like Our Facebook Page. Latest News on Business Post. Trending Economy 5 years ago.

Technology 6 months ago. Economy 3 years ago, cbn extends frequency of forex to bdcs. Economy 4 months ago, cbn extends frequency of forex to bdcs. Banking 3 years ago. Economy 5 years ago. General 2 years ago. Post a Comment. Monday, July 5, Cbn extends frequency of forex to bdcs.

CBN approves wider margin of forex for BDCstime: at July 05, cbn extends frequency of forex to bdcs, Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest. Labels: No comments:.

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CBN Discontinues FX Sale To BDCs, Stops New Licenses

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Binary options Brazil: Cbn extends frequency of forex to bdcs

31/05/ · CBN extends frequency of forex to BDCs Senate screens board nominees - From Kayode Ekundayo, Lagos & Ismail Mudashir FLIGHT SCHEDULE The Central Bank of Nigeria (CBN) said it has extended the frequency of sales of foreign exchange to licensed Bureau de Change (BDC) operators to three days 27/03/ · The CBN acknowledged the contributions of the BDCs in promoting stable exchange rate in recent months, despite challenging circumstances facing the forex market due to drop in crude oil blogger.comted Reading Time: 5 mins CBN Extends Stamp Duty Collection To Savings Accounts / Forex Curbs: CBN Moves To Ease Importers' Plight / When CBN Extends BVN Registration Date (photo) (1) (Reply) (Go Down) CBN Extends Forex Curbs To Export Proceeds, Bdcs by Adesiji am On Jul 02,