The Central Bank of Nigeria (CBN) has approved the sale of $150,000 worth of foreign exchange to each licensed Bureau De Change (BDC) operator on a weekly basis. This move aims to improve foreign exchange liquidity in the retail segment of the market and meet the legitimate needs of end users.

According to the CBN, BDCs can access foreign exchange through any Authorised Dealer Bank of their choice at the prevailing market rates. However, strict compliance and risk-management conditions apply, including Know-Your-Customer (KYC) checks and due diligence on clients.

The CBN has also directed that all licensed BDCs submit timely and accurate electronic returns, and any unutilised foreign exchange must be sold back to the market within 24 hours. BDCs are prohibited from holding FX positions purchased from the NFEM.

The move reflects the CBN’s strategy to balance market access with strong regulatory oversight, ensuring liquidity in the foreign exchange market while safeguarding financial system integrity. REL/OLA

CAC

The Registrar-General and Chief Executive Officer of the Corporate Affairs Commission, CAC, Hussaini Ishaq Magaji says the fight against corruption in Nigeria’s corporate space cannot succeed without strong institutional collaboration and full transparency in company ownership.

The Registrar-General made this known during the Anti-Corruption Day part of activities marking the CAC’s 35th anniversary celebration in Abuja.

Magaji added that the event was deliberately dedicated to anti-corruption to underscore its importance to national development, investor confidence, and the integrity of Nigeria’s corporate ecosystem.

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The Registrar-General further stressed that CAC, as the custodian of corporate records, plays a critical role in exposing beneficial owners, tracing illicit financial flows, and dismantling corporate structures used to hide corruption.

He also revealed gaps in Nigeria’s current framework, advocating for the creation of a single, harmonized national register for beneficial ownership. He warned that fragmented sector-based registers create loopholes and weaken enforcement.

It’s an important day to celebrate a true pillar of leadership and vision.

Happy Birthday to our esteemed Leader, Mentor, and Chairman, Sir Dr. Emeka Offor.

Your guidance and legacy continue to inspire us all. May your day be as remarkable as your impact.

From all of us at Choffan Communications Limited!

And now, from the family at Kiss FM 99.9 Abuja – your home for good music and good talk – we join the chorus of celebration!

Happy Birthday to a trailblazing force in Nigerian enterprise and generosity, Sir Dr. Emeka Offor!

Your remarkable journey—from building one of West Africa’s leading conglomerates in oil, gas, power, and beyond, to touching countless lives through the Sir Emeka Offor Foundation—continues to light the way for excellence, compassion, and progress.

May this special day bring you abundant joy, renewed strength, and even greater blessings as you inspire generations.

Here’s to more years of impactful leadership and legendary moments!

From all of us at Kiss FM 99.9 Abuja – keep shining, Sir! 🎉🎂

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