The Abuja chapter of Association of Bureau De Change (BDC) Operators has announced the closure of their business premises indefinitely from Thursday, February 1, 2024.
The chairman of the Association, Abdulahi Dauran, said the scarcity of US Dollars was responsible for their decision while adding that online banking transactions and cryptocurrency were behind of the scarcity of dollars.
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The exchange rates between the Naira and the dollar according to the data released on the FMDQ Security Exchange, the official forex trading portal saw the Naira openening at ₦1413.94 to the dollar on Tuesday, January 30, 2024, and closed at ₦1482.57 to $1 on Tuesday, January 30, 2024.
However, the Naira is trading as high as ₦1,425 to the Dollar at the black market even though the Central Bank of Nigeria (CBN) announced the unification of all segments of the foreign exchange market.
The apex bank, had in a circular on Wednesday 14th June 2023, said all FX windows were now collapsed into the investors & exporters (I&E) window.
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