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    Dollar scarcity shuts down BDC operations

    Opalim LiftedBy Opalim LiftedFebruary 1, 2024No Comments2 Mins Read
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    Dead workers drawing living wages since 2009 in Nigeria
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    Bureau de Change (BDC) operators shut down services on Thursday in Abuja as a result of the unavailability of dollars.

    The chairman of the association, Abdulahi Dauran, announced this in the Federal Capital Territory on Wednesday.

    The development comes after a senate panel summoned Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), over the forex crisis.

    The summons was through its Committee on Banking, Insurance, and Other Financial Institutions, headed by Senator Adetokunbo Abiru (APC, Lagos).

    Senator Abiru disclosed this while speaking with newsmen after his panel met behind closed doors on Wednesday.

    • Nigerians shocked over pricey iPhone XR as dollar hits N1500

    He said the committee, during the meeting, took the decision to summon the apex bank governor to brief the lawmakers on Tuesday next week on what is being done to address the economic and Naira value crises.

    Senator Abiru said the state of the economy, especially the inflation index, was of great concern to the lawmakers.

    He said, “We have deliberated among ourselves. Critical issues were addressed, and we believe that the next line of action is to summon the governor of the Central Bank on Tuesday at 3 o’clock to properly brief us on the state of the economy.

    “That we have resolved and will communicate to the governor of the Central Bank, after which we will have further communication with members of the press.”

    The naira continued its free fall, sinking to a record low of N1,482.57 per dollar following demand on the official market.

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    Davido joined Osun State Governor Ademola Adeleke on Thursday for a roadshow and campaign rally ahead of the governorship election.

    Davido campaigns with Osun gov ahead election

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