Tanzanian Central Bank Says Quoting Prices in Foreign Currency Against the Law
The Bank of Tanzania (BOT) has reiterated that shillings stay the East African nation’s sole authorized tender. The apex financial institution stated residents quoting costs...
Nigerian Lawmaker Proposes Closure of All Domiciliary Accounts in Order to Save Imperiled Naira
Nigerian lawmaker Ibrahim Obanikoro has called on Nigerian authorities to “close all domiciliary accounts for the next 12 months.” Such a move, he argues, will...
Nigerian Central Bank Stops Forex Sales to Bureaus de Change — Operators Accused of Feeding Black Market
The Central Bank of Nigeria (CBN) recently announced the abrupt end to sales and outsourcing of foreign exchange to Bureau de Change (BDC) operators after...
Nigeria Bureau De Change Association Boss Accuses Speculators of Destabilizing the Naira— Says Central Bank Funding Will End Currency Woes
According to the head of the Nigerian group of bureau de change operators, the naira’s continued fall on the parallel market is down to the...