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

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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.


 

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Business

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

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  • 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.

 

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BATNF, NYSC Collaborate to Promote Agribusiness Among Corps Members

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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.


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Government Pledges Support for Women in Livestock Development Says Minister Maiha

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Idi Mukhtar Maiha, Minister of Livestock Development, has revealed the government’s intention of placing women in the livestock transformation agenda that they have in store for Nigeria.

During a recent event, he praised women, describing them as the backbone of the country, and shared that the country will keep on needing their support, hence the inclusion of the agenda team.

He also praised the First Lady for the impact she has made in the country so far and her advocacy for women’s empowerment.


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