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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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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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“Minimum Wage Can Buy a Bag Now” — User Claims Rice Price Falling in Nigeria

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Nigerians react as a user claims and shares that the price of rice in Nigeria is already reducing.

“Rice prices are finally dropping, minimum wage can buy a bag now. Step by step, we’re getting there. Nigeria will work in our lifetime.”

It can be noted that rice was sold at ₦85k to ₦90k, however, according to a market survey, the price of rice has dropped to ₦56k to ₦62k.


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