CBN Sells Dollars to BDCs at N1450/USD Amid Forex Market Reforms

Published

2 years ago

July 19, 2024

Source: Google

In a recent development, the Central Bank of Nigeria (CBN) sold dollars to eligible Bureau De Change (BDC) operators at a rate of N1450 per dollar.

This decision, aimed at meeting demand for invisible transactions, comes after concerns were raised over exclusion of BDCs in previous forex sales totaling $123 million to authorized dealers.

ABCON President Aminu Gwadebe highlighted the exclusivity of banks in accessing these interventions.

The CBN’s move underscores ongoing efforts to reform the foreign exchange market and address retail segment distortions influencing exchange rate premiums.

Dangote Refinery Increases Petrol and Diesel Prices

Published

2 weeks ago

March 10, 2026

Ese Ohwofa

It has been noted that there is now an increase in fuel all around Nigeria, from … to 1000 plus in fuel stations.

It was also noted that Dangote Petroleum Refinery increased the price to 1,175 per litre and diesel has been increased to 1,620 per litre.

This new spike in fuel increase has caused Nigerians to lament widely, wondering why this change happened all of a sudden.

10 Businesses to Invest in 2026: Best Sectors, Stocks, and Companies to Watch

Published

1 month ago

February 17, 2026

Ese Ohwofa

MTN Nigeria Communications Plc (MTNN) – Strong telecom growth and 5G expansion.
Dangote Cement Plc (DANGCEM) – Leading cement maker benefiting from infrastructure demand.
Guinness Nigeria Plc (GUINNESS) – Consumer stock with solid turnaround potential.
Okomu Oil Palm Plc (OKOMUOIL) – Agriculture stock tied to palm oil demand.
Seplat Energy Plc (SEPLAT) – Energy player with gas and oil sector exposure.
Zenith Bank Plc (ZENITHBANK) – Tier-1 bank with strong financial performance.
Guaranty Trust Holding Company Plc (GTCO) – Leading bank with diversified revenue streams.
Presco Plc (PRESCO) – Palm oil producer with export and dividend potential.
NASCON Allied Industries Plc (NASCON) – FMCG stock with strong fundamentals.
Aradel Holdings Plc (ARADEL) – Growing energy sector stock with upstream exposure.

BATNF, NYSC Collaborate to Promote Agribusiness Among Corps Members

Published

2 months ago

January 28, 2026

Ese Ohwofa

It has been noted that the National Youth Service Corps (NYSC) and British American Tobacco Nigeria Foundation (BATNF) plan to renew their partnership in agribusiness.

The new project is to involve youth in the agriculture business, widen their horizons, and educate them about the agritech sector.

The general manager shared that “The foundation is not only providing grants but also building a system of mentorship, structure, and support that enables corps members to see agribusiness as a serious enterprise pathway.” The plan is to use the NYSC platform to engage youths.