NIGERIAN ASSOCIATION FOR FAMILY DEVELOPMENT RELEASE COMMUNIQUE ON 18 BIENNIAL CONFERENCE HELD IN AWKA. (PHOTOS). #PRESS RELEASE

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 Nigerian Association for Family Development releases communique on 18 biennial conference held in Awka By Chris Chikelue The Nigerian Association For Family Development (NAFAD) has made public the communique made at the 18th Biennial conference  themed: 'Marriage as a Vocation- Flourishing Despite Modern Challenges'. The communique which was issued on March 30, 2025 at the Bishop AK Obiefuna  Retreat and Pastoral Centre, Okpunor, Awka, Anambra State was signed by NAFAD National President, Mr. Uche Okpala and its National Secretary,  Mrs Tayo Akinyede. It was a gathering that brought together couples, relationship experts, and singles to explore practical ways to strengthen marriages and address contemporary relationship challenges. According to the communique the event emphasized that marriage is a sacred vocation—a call to total self-giving, sacrifice, and shared purpose in building resilient families. The key resolutions from discussions at the conference were bas...
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CBN RELEASE LIST OF LICENSED BDC OPERATORS. (PHOTO).

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CBN releases list of licenced BDC operators

18th Jul 2023 

The Central Bank of Nigeria (CBN) on Tuesday released the list of the Bureau De Change (BDC) operators approved by the apex bank.

According to the fresh list published by the CBN, the total number of approved BDC dealers has been reduced to 2,991.

The document titled ‘Approved BDCs’, revealed that the licenses of 2,698 BDCs have been withdrawn.

In 2022, the Central Bank published a similar list in a document with reference: REF: FPR/DIR/PUB/CIR/001/037, titled, ‘List of CBN Licensed Bureaux De Change As at December 31, 2021’ where the CBN had approved 5,689 black market dealers.

It Is no longer news that in Nigeria, BDCs are the major influencers of exchange rates.

Prior to the emergence of President Bola Tinubu, the operators had grown from 74 in 2005 to 5,689 in 2021.

The BDCs grew by more than 100 per cent under Emefiele who later banned the sale of foreign exchange to BDCs over round tripping and involvement in illegal financial flows.

Under Tinubu, a document titled, ‘Policy Advisory Council Report: National Economy Sub-committee’, advised the implementation of key reforms like raising the capitalisation for BDC operators.

Another suggestion by the committee was for the CBN to allow the Nigerian banks to operate as the primary dealers to supply the forex market.

Since the naira was floated by the CBN in June, the currency has fallen to N795.28 at the Investors’ and Exporters’ FX window.

The situation Is even more severe at the parallel market where it closed at N820 per dollar, the British pounds closed at N1095 and the Euro at N905.

In a recent statement by the President of the Association of Bureau De Change Operators of Nigeria (ABCON), Aminu Gwadebe, he said the FX market would remain volatile because BDCs are excluded from the I&E window.

’The volatility of the naira has been a stumbling block for the slow economic growth of Nigeria.

The I&E window is laudable, it’s patriotic and nationalistic, but no policy can actualize its mission without carrying the interest of the subsector (which is the BDCs).

“The I&E window is supposed to run on three legs, the banks, the CBN and the BDCs, overtly or covertly, the BDCs are missing,’’ said Gwadabe. 

 

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