The naira further depreciated against the dollar at the official foreign exchange market to end trading on Thursday as the Central Bank of Nigeria issued Bureau de Change operators a warning to comply with its anti-money laundering and counter-terrorism financing framework.
Central Bank of Nigeria exchange rate data showed that the naira dropped slightly to N1,599.93 per dollar on Thursday from N1,599.79 was traded on Wednesday.
This showed that the naira weakened by N0.14 on a day-to-day basis on Thursday.
Meanwhile, at the black market, Bureau De Change operators in Wuse Zone 4, Abuja, confirmed to Media Talk Africa that the selling exchange rate stood at N1,620 per dollar on Thursday, the same rate recorded on Wednesday.
The development comes as CBN, in a circular by its director of the compliance department, Amonia Opusunju, on Thursday announced a plan to begin “mystery shopping” exercises across bureau de change (BDC) outlets to strengthen compliance with anti-money laundering and counter-terrorism financing regulations.
“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,” the statement partly reads.
Comments are closed for this story.