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Tanzanian Central Bank Says Quoting Prices in Foreign Currency Against the Law
24.6.2023
The Bank of Tanzania (BOT) has reiterated that shillings remain the East African country’s sole legal tender. The apex bank said residents quoting prices in foreign currency or those refusing payment in Tanzanian shillings are in violation of the Bank of Tanzania Act 2006. The central bank...
Nigerian Currency Plunges to New All Time Low — Central Bank Blames Speculators
30.7.2022
The Nigerian central bank has accused currency speculators of being behind the local currency’s recent plunge to a new all-time low of N710 against the greenback. The leader of a Nigerian association of bureau de change operators insisted crypto trading may be to blame for the naira’s...
Nigerian Lawmaker Proposes Closure of All Domiciliary Accounts in Order to Save Imperiled Naira
30.9.2021
Nigerian lawmaker Ibrahim Obanikoro has called on Nigerian authorities to “close all domiciliary accounts for the next 12 months.” Such a move, he argues, will help to ease pressure on the naira, which has depreciated by more than 10% in the past two months. The Naira’s...
Nigerian Central Bank Stops Forex Sales to Bureaus de Change — Operators Accused of Feeding Black Market
28.7.2021
The Central Bank of Nigeria (CBN) recently announced the abrupt end to sales and outsourcing of foreign exchange to Bureau de Change (BDC) operators after accusing them of failing to stick to their core mandate. Instead of providing forex to retail users, BDCs are believed to be supplying...
Nigeria Bureau De Change Association Boss Accuses Speculators of Destabilizing the Naira— Says Central Bank Funding Will End Currency Woes
22.5.2021
According to the head of the Nigerian group of bureau de change operators, the naira’s continued fall on the parallel market is down to the activities of speculators. However, Aminu Gwadabe, the president of the Association of Bureau de Change Operators of Nigeria (ABCON), suggests that only...
Nigeria’s Foreign Currency Crisis Boon for Bitcoin: Country Tops Wallet Downloads Ahead of the US
21.8.2020
Nigeria’s weakening naira currency, as well as the shortage of U.S. dollars, are forcing businesses to switch to bitcoin as the means of settling payments for international transactions. Nigerian businesses need the American currency to buy new supplies, as well as to order essential...
PR: Remco – Powerful Distributed Token Generating Platform
12.8.2019
remittancetoken.io – Token-Generating Platform for Money Transfer currently trading on Digifinex has announced it's sponsoring blockchain Finance Lagos conference event in Africa's largest market, Nigeria. Offering free flight ticket and accommodation to the qualified speakers.
The post PR: Remco...