• Contact Us
  • About Us
Wednesday, February 1, 2023
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
Home News

CBN suspends licenses of 195 BDCs

metro by metro
October 13, 2016
in News
0
CBN
0
SHARES
0
VIEWS

… stops 19 banks from FX sales to BDCs

The Central Bank of Nigeria (CBN) said yesterday that it has suspended the operating licences of 195 Bureau De Change Operators (BDCs) for not rendering returns and not being able to renew their licence.

Read Also

Banks Will Continue To Accept Old Naira Notes After Deadline – Emefiele 

Again, INEC Extends Deadline For PVC Collection Nationwide

CBN Under Statutory Obligation To Redeem Old Banknotes After January 31-NBA

The framework for the operation of BDC requires that each BDC submit returns of its activities to the CBN.

Isaac Okorafor, spokesman of the CBN confirmed to BusinessDay that the affected BDCs failed to comply with the guideline, leading to revocation of their operating licence.

BusinessDay gathered that the Apex bank has stopped about 19 banks from selling the proceeds from International Money Transfer Operators (IMTOs) to BDCs.

The CBN had in July directed banks and authorized dealers who are agents of approved international money transfers operators to sell foreign currency accruing from inward money remittances to licensed BDCs.

Further investigation show that banks did not comply with the directive except First Bank of Nigeria limited which sells to about 500 BDCs.

Previous Post

China to fund 85% of Kano light rail project

Next Post

Investors may price Nigeria’s new Eurobond near 7%

Related Posts

CBN
Breaking

Banks Will Continue To Accept Old Naira Notes After Deadline – Emefiele 

January 31, 2023
Again, INEC Extends Deadline For PVC Collection Nationwide
Breaking

Again, INEC Extends Deadline For PVC Collection Nationwide

January 28, 2023
CBN Under Statutory Obligation To Redeem Old Banknotes After January 31-NBA
Breaking

CBN Under Statutory Obligation To Redeem Old Banknotes After January 31-NBA

January 28, 2023
Godwin Emefiele
Breaking

House Of Representatives Speaker Threatens To Issue Warrant Of Arrest On Emefiele

January 26, 2023
Next Post
OPEC

Investors may price Nigeria’s new Eurobond near 7%

Naira Redesign: El-Rufai Exonorates Emefiele 

Naira Redesign: El-Rufai Exonorates Emefiele 

February 1, 2023

Safeguarding democracy: why digital transformation of the electoral process is critical

January 31, 2023
CBN

Banks Will Continue To Accept Old Naira Notes After Deadline – Emefiele 

January 31, 2023
ADVERTISEMENT
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version