The Abuja chapter of the Association of Bureau De Change (BDC) Operators has announced the indefinite closure of their business premises, effective from Thursday, February 1, 2024. Abdulahi Dauran, the Association’s chairman, attributed the decision to the scarcity of US Dollars, citing online banking transactions and cryptocurrency as contributing factors.
Despite the Central Bank of Nigeria (CBN) clearing verified backlog foreign exchange claims owed to foreign airlines on Tuesday, the official market witnessed a significant dip in the Naira’s value against the dollar. At the official close of the market, some trades were reported at N1,513 per dollar.
The Nigeria Autonomous Foreign Exchange (NAFEX) window closed on Tuesday night at N1,482.57 to the dollar, slightly higher than the street rate of N1,460. The parallel market maintained its exchange rate, holding steady at N1,460/$1 without depreciation.
In addition, the official Investors and Exporters (I&E) Window showed the Naira closing at N1,482.57, indicating a 9.94% decline or a loss of N133.95 compared to the previous day’s rate of N1,348.62.
