* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, September 26, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    ‘Today’: Sheinelle Jones Thanks Katie Couric for Support After Husband’s Death – CBS 19 News

    Sheinelle Jones Expresses Heartfelt Thanks to Katie Couric for Support After Husband’s Passing

    Sate your hunger at DBA’s Taste of Downtown – Bakersfield.com

    Indulge Your Cravings at DBA’s Taste of Downtown!

    Caesars Entertainment (CZR): Assessing Valuation After Times Square Casino Setback and Mounting Investor Concerns – simplywall.st

    Caesars Entertainment Faces Times Square Casino Hurdles as Investor Concerns Mount

    Why Hilaria Baldwin Has Found the ‘DWTS’ Process ‘Embarrassing’ At Times – WFXG

    Hilaria Baldwin Opens Up About the Embarrassing Moments on Her ‘DWTS’ Journey

    Harvest Fest 2025 – yadkinripple.com

    Celebrate the Bounty: Harvest Fest 2025 is Coming!

    Fox News Entertainment Newsletter: Kate Middleton stuns during Trump state visit, Brett James dead at 57 – Fox News

    Kate Middleton Stuns During Trump State Visit; Remembering Brett James at 57

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Amazon to Pay $2.5 Billion in Prime Membership Settlement – The New York Times

    Amazon to Pay $2.5 Billion in Prime Membership Settlement – The New York Times

    What are we really gaining from technology? – Fast Company

    What Are We Really Gaining from Technology?

    TOMI Environmental Solutions, Inc. Expands SteraMist iHP Technology Services in Healthcare Sector with New Provider Partnership – Quiver Quantitative

    TOMI Environmental Solutions Accelerates SteraMist iHP Technology Expansion in Healthcare with New Provider Partnership

    Indiana County Technology Center’s Joint Operating Committee looks to the future as program plans began to take shape – Indiana Gazette Online

    Indiana County Technology Center’s Joint Operating Committee Charts an Exciting Path Forward as New Program Plans Take Shape

    Meta to expand Montgomery data hub, pushing total investment to $1.5 billion – Alabama Department of Commerce

    Meta to Supercharge Montgomery Data Hub with $1.5 Billion Investment

    Agentic AI and the future of work: navigating technological promise and the risk of increased automation – Equal Times

    Agentic AI and the Future of Work: Embracing Innovation While Navigating Automation Challenges

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    ‘Today’: Sheinelle Jones Thanks Katie Couric for Support After Husband’s Death – CBS 19 News

    Sheinelle Jones Expresses Heartfelt Thanks to Katie Couric for Support After Husband’s Passing

    Sate your hunger at DBA’s Taste of Downtown – Bakersfield.com

    Indulge Your Cravings at DBA’s Taste of Downtown!

    Caesars Entertainment (CZR): Assessing Valuation After Times Square Casino Setback and Mounting Investor Concerns – simplywall.st

    Caesars Entertainment Faces Times Square Casino Hurdles as Investor Concerns Mount

    Why Hilaria Baldwin Has Found the ‘DWTS’ Process ‘Embarrassing’ At Times – WFXG

    Hilaria Baldwin Opens Up About the Embarrassing Moments on Her ‘DWTS’ Journey

    Harvest Fest 2025 – yadkinripple.com

    Celebrate the Bounty: Harvest Fest 2025 is Coming!

    Fox News Entertainment Newsletter: Kate Middleton stuns during Trump state visit, Brett James dead at 57 – Fox News

    Kate Middleton Stuns During Trump State Visit; Remembering Brett James at 57

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Amazon to Pay $2.5 Billion in Prime Membership Settlement – The New York Times

    Amazon to Pay $2.5 Billion in Prime Membership Settlement – The New York Times

    What are we really gaining from technology? – Fast Company

    What Are We Really Gaining from Technology?

    TOMI Environmental Solutions, Inc. Expands SteraMist iHP Technology Services in Healthcare Sector with New Provider Partnership – Quiver Quantitative

    TOMI Environmental Solutions Accelerates SteraMist iHP Technology Expansion in Healthcare with New Provider Partnership

    Indiana County Technology Center’s Joint Operating Committee looks to the future as program plans began to take shape – Indiana Gazette Online

    Indiana County Technology Center’s Joint Operating Committee Charts an Exciting Path Forward as New Program Plans Take Shape

    Meta to expand Montgomery data hub, pushing total investment to $1.5 billion – Alabama Department of Commerce

    Meta to Supercharge Montgomery Data Hub with $1.5 Billion Investment

    Agentic AI and the future of work: navigating technological promise and the risk of increased automation – Equal Times

    Agentic AI and the Future of Work: Embracing Innovation While Navigating Automation Challenges

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home News

Naira depreciation: Why CBN should be blamed – BDC operators

May 15, 2024
in News
Naira depreciation: Why CBN should be blamed – BDC operators
Share on FacebookShare on Twitter

Bureau De Change operators have blamed the continued depreciation of the naira in the foreign exchange market on the Central Bank of Nigeria’s insufficient allocation of foreign currency.

An official of the Association of Bureaux De Change in Nigeria who preferred anonymity disclosed this on Wednesday.

The official spoke against the fall of the naira against the dollar.

At the parallel market section, the naira dropped to N1,520 on Tuesday from N1,500 the previous day, according to Mistila Dayyabu, BDC operator in Wuse Zone 4 Abuja.

Similarly, FMDQ data showed that the naira closed at N1,520.40 per dollar on Tuesday from N1,478.11.

Advertisement

Giving insight on the naira’s depreciation for the past weeks, the ABCON official said the volume of FX allocation to members was discouragingly low.

According to him, the paucity in FX allocation has pushed BDC operators to source the currency at a higher cost thereby resulting in the naira depreciation.

“The volume and frequency of dollar supplies from the CBN are discouragingly low. We often have to source dollars independently.

“We haven’t received more than $30 to $40 million total in the last three months,” he lamented, describing the pace of allocations as “snail-speed.”

He criticized the government’s handling of the situation, stating, “We often ignore fundamental economic issues in this country and chase after less relevant matters. Such strategies inevitably lead to errors.

“The volume and frequency of dollar supplies from the CBN are discouragingly low. We often have to source dollars independently.

“We haven’t received more than $30 to $40 million in the last three months.

“We often ignore fundamental economic issues in this country and chase after less relevant matters. Such strategies inevitably lead to errors.”

The development comes as the Economic and Financial Crimes Commission continued clampdown on FX speculators in Abuja, Lagos, Kano, and major cities.

From February to April 8, 2024, the apex bank distributed FX three times to BDCs.

However, the naira returned to depreciation in mid-April. During that period, it dropped by 28 per cent against the dollar.

Share your story or advertise with us: Whatsapp: +2347068606071 Email: [email protected]

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : NewSpotNg – https://newspotng.com/naira-depreciation-why-cbn-should-be-blamed-bdc-operators/

Tags: DepreciationNairanews
Previous Post

Akwa Ibom Assembly begins performance assessment tour of LGAs

Next Post

Atiku, El-Rufai, Kwankwaso won’t agree to contest 2027 presidency with Peter Obi – Omokri

Testing the role of biotic interactions in shaping elevational diversity gradients: An ecological metabolomics approach – ESA Journals

Unraveling How Biotic Interactions Shape Elevational Diversity Gradients Through Ecological Metabolomics

September 26, 2025
Betina Wilkinson elected to American Political Science Association Council – Inside WFU

Betina Wilkinson Joins the Prestigious American Political Science Association Council

September 26, 2025
Dr. STONE SCIENCE FUTURE Cour 3 Anime to Premiere in 2026 – Crunchyroll

Dr. STONE: SCIENCE FUTURE Cour 3 Set to Premiere in 2026!

September 26, 2025
Aldi Just Launched a Huge New Collaboration and It’s Excellent News For Shoppers – Yahoo

Aldi Unveils Exciting New Collaboration That Shoppers Will Love

September 26, 2025
Amazon to Pay $2.5 Billion in Prime Membership Settlement – The New York Times

Amazon to Pay $2.5 Billion in Prime Membership Settlement – The New York Times

September 26, 2025
Week 4 NFL against-the-spread picks, predictions for every game: Ravens or Chiefs will be 1-3 – Yahoo Sports

Week 4 NFL Against-the-Spread Picks and Bold Predictions: Will the Ravens or Chiefs Fall to 1-3?

September 25, 2025
Hegseth summons hundreds of top military brass from around the world for mysterious Virginia meeting – AL.com

Hegseth summons hundreds of top military brass from around the world for mysterious Virginia meeting – AL.com

September 25, 2025
US economy expanded at a surprising 3.8% pace in significant upgrade of second quarter growth – News4JAX

US economy expanded at a surprising 3.8% pace in significant upgrade of second quarter growth – News4JAX

September 25, 2025
‘Today’: Sheinelle Jones Thanks Katie Couric for Support After Husband’s Death – CBS 19 News

Sheinelle Jones Expresses Heartfelt Thanks to Katie Couric for Support After Husband’s Passing

September 25, 2025
Private health insurers use AI to approve or deny care. Soon Medicare will, too. – NBC News

Private health insurers use AI to approve or deny care. Soon Medicare will, too. – NBC News

September 25, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (837)
  • Economy (857)
  • Entertainment (21,733)
  • General (17,243)
  • Health (9,900)
  • Lifestyle (870)
  • News (22,149)
  • People (859)
  • Politics (867)
  • Science (16,067)
  • Sports (21,357)
  • Technology (15,840)
  • World (840)

Recent News

Testing the role of biotic interactions in shaping elevational diversity gradients: An ecological metabolomics approach – ESA Journals

Unraveling How Biotic Interactions Shape Elevational Diversity Gradients Through Ecological Metabolomics

September 26, 2025
Betina Wilkinson elected to American Political Science Association Council – Inside WFU

Betina Wilkinson Joins the Prestigious American Political Science Association Council

September 26, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version