Korede Abdullah in Lagos
The naira has further depreciated against the dollar at the official foreign exchange market, ending trading on Thursday at N1,599.93 per dollar.
This represents a slight drop from N1,599.79 on Wednesday, with the naira weakening by N0.14 on a day-to-day basis.
Meanwhile, at the black market, Bureau De Change operators in Wuse Zone 4, Abuja, quoted a selling exchange rate of N1,620 per dollar, unchanged from Wednesday.
The development comes as the Central Bank of Nigeria (CBN) issued a warning to Bureau de Change operators to comply with its anti-money laundering and counter-terrorism financing framework.
In a circular, the CBN announced plans to conduct “mystery shopping” exercises across BDC outlets to strengthen compliance with regulations.
The CBN reminded BDC operators of their obligations under the Money Laundering (Prevention and Prohibition) Act, 2022, and Terrorism (Prevention and Prohibition) Act, 2022.
The CBN’s move aims to enhance compliance with anti-money laundering and counter-terrorism financing regulations among BDC operators.
As the CBN stated, “BDC operators are reminded that they are required to fully comply with the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022, Terrorism (Prevention and Prohibition) Act, 2022, regulatory and supervisory guidelines for bureau de change operators in Nigeria, 2024.”
