There is obviously still a lot to be done in many areas but the scepticism of some of us is bewildering.
Browsing: BDCs
The Chairman of the Commission, Muhuyi Magaji, revealed this on a Channels Television programme: “Sunrise Daily.”
This was revealed in a circular by Dr. Hassan Mahmud, the Director of Trade and Exchange Department of the CBN.
Obi made the disclosure in a statement on his official X account on Sunday.
The guidelines seek to enhance the regulatory framework for BDC operations.
Ikharo Attah, the Chairman of FCTA Taskforce on City Sanitation, led the operation, on Monday in Abuja.
But talk is always cheap. And in a democracy with its full complement of free speech, talk is even cheaper, in some cases, crass. This is the context to situate the recent poorly choreographed verbal attacks on Emefiele and the CBN. Some Nigerians have blamed him even for their personal failings. Others think he has everything to do with the sudden arrival of the coronavirus pandemic since early last year. Emefiele has been blamed for Nigeria’s dwindling economic fortunes. And you would think he and he alone has the magisterial power to determine the price of crude oil in the international market.
The President of ABCON, Alhaji Aminu Gwadabe, disclosed that the policy change was part of the resolutions made by BDC directors at the meeting of the operators in Lagos.
The CBN received a total foreign currency inflow of $40 billion during the year compared to $62 billion a year earlier. The Central Bank of Nigeria has recorded a deficit or a net foreign currency outflow of $3 billion in 2020 (2019: $4 billion).
Alhaji Aminu Gwadabe, ABCON President, told the News Agency of Nigeria that the BDC was and would remain the potent monetary tool of the Central Bank of Nigeria exchange rate stability instrument.
Alhaji Aminu Gwadabe, President, ABCON, told the News Agency of Nigeria on Sunday in Lagos that the difficulty would arise because the business of BDCs was largely driven by trust and personality of operators.
A statement from the CBN acting Director, Corporate Communications, Isaac Okorafor, on Sunday indicated that the new directive would allow eligible travellers more access to foreign exchange and allow more liquidity to the market.
The News Agency of Nigeria reports that the figure has been stable in the past two weeks.