Skip to content
HomeBusinessThe Dollar Exchanged for N412 on Monday at the Bureau De Change Segment of the Market.
Mar 31, 20203 min read

The Dollar Exchanged for N412 on Monday at the Bureau De Change Segment of the Market.

The Dollar Exchanged for N412 on Monday at the Bureau De Change Segment of the Market.
Galaxy TV · Business desk · Lagos

Story reading is not supported in this browser.

G
Galaxy TV
Editorial Desk · Galaxy TV
Share

This followed a temporary suspension of the sale of forex to the Bureau De Change operators in the industry by the Central Bank of Nigeria.
.
The Association of Bureaux De Change Operators of Nigeria had made a request to the CBN to grant it market holidays, given the ongoing challenges faced in the local and global economies due to the impact of the coronavirus pandemic.
.
The CBN granted the BDCs two weeks' market holiday as requested.
.
According to the BDCs, there had been a drastic decline in demand for forex due to the impact of the COVID-19 on the economy, as businesses were down and many people were not traveling.
.
The naira had also suffered setbacks as a result of crude oil price that fell drastically in the international market, which raised speculations among the BDC operators and Nigerians in general

Start tomorrow informed

Save your place for the morning brief. We’ll start emailing when delivery goes live.

Free. Confirm by email. Unsubscribe anytime.

Keep the news with you

Read the latest stories and save articles in the Galaxy TV app.

Download on theApp StoreGet it onGoogle Play
Tags:
G
Galaxy TV
Editorial Desk

Reporting for Galaxy TV from Lagos and Abuja, covering energy and national affairs across Nigeria and West Africa

Discussion0

Share your perspective and join the conversation
Keep Reading

More Stories

Nigeria drives OPay growth as fintech targets $4.4bn valuationBusiness

Nigeria drives OPay growth as fintech targets $4.4bn valuation

Nigeria accounted for nearly 90 per cent of OPay’s revenue in the first half of 2026, as the fintech company prepares to raise up to $366m through a listing on the New York Stock Exchange.

Oct 26, 2026·38Read
Nigeria’s capital importation hits $23bn, reserves exceed $50bn — OduwoleBusiness

Nigeria’s capital importation hits $23bn, reserves exceed $50bn — Oduwole

The Federal Government is seeking to attract more long-term investments into manufacturing, infrastructure and other productive sectors as Nigeria’s capital importation rose to $23bn in 2025, up from over $12bn in 2024.

Oct 19, 2026·6Read
Nestlé Nigeria begins process to move water business to $5.6bn JVJust InBusiness

Nestlé Nigeria begins process to move water business to $5.6bn JV

Nestlé Nigeria Plc has initiated plans to transfer its waters and premium beverages business to a new entity as part of a proposed $5.6 billion global joint venture between Nestlé S.A. and Platinum Equity. Subject to regulatory and shareholder approvals, the Nigerian operations will be carved into the newly formed entity before joining Peranel, a 50:50 joint venture between the international partners.

Oct 30, 2026·15Read