“₦1,000 FOR JUST 8 TOMATOES” — MAN FUMES OVER RISING FOOD PRICES, SAYS NIGERIANS ARE SUFFERING UNDER HARDSHIP. (PHOTO).

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  “₦1,000 for just 8 tomatoes” — Man fumes over rising food prices, says Nigerians are suffering under hardship A Nigerian man has gone viral after lamenting the rising cost of food, revealing that he bought just eight tomatoes for ₦1,000 at a market in Yaba. In a video shared online, he questioned how families, especially large households, are expected to survive amid rising food prices, stressing that basic ingredients like tomatoes, pepper and onions have become increasingly difficult for many to afford. The visibly angry man also criticised the state of the country, expressing frustration over hardship, insecurity and the rising cost of living in Nigeria. Watch video below. 
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CBN REVOKES LICENSES OF 4,173 BDCs.(PHOTO). #PRESS RELEASE

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  Citing Non-observance of Guidelines, CBN Revokes Licenses of 4,173 BDCs


(PRESS RELEASE)


The Central Bank of Nigeria (CBN), in exercise of the powers conferred on it under the Bank and Other Financial Institutions Act (BOFIA) 2020, Act No. 5, and the Revised Operational Guidelines for Bureaux De Change 2015 (the Guidelines), has revoked the licenses of 4,173 Bureaux De Change Operators. The list of affected BDC operators is available on the Bank’s website (www.cbn.gov.ng).


The affected institutions failed to observe at least one of the following regulatory provisions:


  Payment of all necessary fees, including licence renewal, within the stipulated period in line with the Guidelines.

  Rendition of returns in line with the Guidelines.

  Compliance with guidelines, directives and circulars of the CBN, particularly Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT) and Counter-Proliferation Financing (CPF) regulations.


The CBN is revising the regulatory and supervisory guidelines for Bureau de Change operations in Nigeria. Compliance with the new requirements will be mandatory for all stakeholders in the sector when the revised guidelines become effective.


Members of the public are hereby advised to take note and be guided accordingly.


 


E-SIGNED:


Sidi Ali, Hakama (Mrs.)


Ag. Director, Corporate Communications

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