Telecom operators may have received the approval of the Nigerian Communications Commission (NCC) to disconnect some money deposit banks (DMBs) over their failure to comply with regulators’ directive to effect repayment of the N250billion that arose from the use of the Unstructured Supplementary Service Data (USSD), it was gathered on Monday. According to industry sources,…
The Central Bank of Nigeria (CBN) will be extending the recapitalisation deadline for Bureau De Change (BDC) operators from December 3, 2024 to June 3, 2025. The Association of Bureaux De Change of Nigeria (ABCON) President, Alhaji Aminu Gwadabe, disclosed this yesterday during an emergency virtual general meeting organised by group for its members. He…
The naira crashed against the dollar at both official and parallel foreign exchange markets to begin the week on a negative note. FMDQ data showed that the naira weakened to N1,675.62 per dollar on Monday from N1652.62 last Friday, indicating a N23 loss. Similarly, at the black market, the naira depreciated to N1,755 per dollar…
