Fidelity bank banner NewsExpress advert
Hope rises for naira as international dealer floods Nigeria with dollars

By News Express on 07/10/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,602


Fresh hope have risen with the news, yesterday, that global foreign exchange (forex) dealer, Travelex, will today disburse a total of $45 million dollars to licensed Bureaux De Change (BDC) operators in the country.

The disclosure was made by the President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe. He said that Travelex will disburse $15,000 to each of the 3,000 registered BDC operators, adding that with each of the 3,000 BDCs getting $15,000 each, $45 million will flow into the system today. Gwadabe commended the CBN for authorising Travelex to take responsibility of disbursing huge dollar inflows from the Diaspora estimated at $21 billion annually to BDCs.
He said the development, would deepen dollar liquidity in the system and strengthen the naira against the dollar.
The local currency had been on a free fall on the parallel market in recent weeks, losing about 15 per cent of its value to drop to a record low of N490/dollar at some point. Gwadabe said the experience and integrity of Travelex would be key in getting the dollars to BDCs.
•Adapted from a New Telegraph report. Photo shows ABCON President Aminu Gwadabe.

Source News Express

Posted 07/10/2016 2:17:40 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Court to hear case on Chibok Girls April...

I’m on a rescue mission – OAU Acting...

Referee issues 12 RED CARDS in ONE LEAGUE...

Rivers PDP lampoons APC, lauds Osinbajo for honouring...

Hazy and sunny conditions to prevail today across...

Buhari’s UK Trip: Declare presidential seat vacant, PDP...

South African Airways suspends indicted technical and finance...

128 firms bid for NNPC crude

NAF adapts trainer aircraft for combat role

Suicide bomber kills 19 at Borno motor park...

Nigeria to end open drugs market in 2018...

Africa records first case of Zika virus

 

Latest News Man crushed to death after mother’s coffin falls on him during funeral Woman yelling 'Allahu akbar' slashes two with blade in France 2019: PDP disowns guidelines for presidential primaries Confusion trails ownership of sacked 300 street sweepers in Lagos Fayemi’s debt responsible for salary arrears - PDP Kukah to Christians: Unite against security threats FG loses N100bn on aviation charges—Expert Okada Ban: Obiano insists on July 1 deadline 2019: Makarfi to vie for PDP’s presidential ticket Suspect dead, 20 hurt in shooting at US arts festival NiMet predicts cloudy, thunderstorms, rains on Monday – NiMet World Cup: Mexico stun champions Germany 1-0

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (351,442 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (350,450 views) Shameless Genevieve Nnaji exposes breasts in public (279,451 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (229,461 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (208,645 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (208,039 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (181,251 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (163,344 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (153,435 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (148,050 views) Lagos plane crash: Journalist releases victims’ names (143,448 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (135,334 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (50) Business & Economy (3,240) Business Verdict (44) Columnists (868) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (503) Features (606) Global Business Monitor (280) International (2,031) Interview (153) Live Commentary (28) Love Matters (123) News (36,273) Opinion (1,000) Pidgin (10) Politics (5,268) Religion (770) Sports (1,549) Stock Watch (30) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Royal Wedding 2018 of Prince Harry and Meghan Markel

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement