The naira further depreciated against the dollar at the official foreign exchange market to end trading on Thursday …
The naira weakened marginally against the dollar at the official market, closing at N1,599.93 on Thursday from N1,599.79 the previous day. Meanwhile, parallel market rates held steady at N1,620 per dollar. The Central Bank of Nigeria (CBN) issued a stern warning to Bureau de Change (BDC) operators, vowing to conduct “mystery shopping” exercises to enforce anti-money laundering and counter-terrorism financing laws.
“BDC operators are reminded that they are required to fully comply with the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022,” the CBN stated. The move aims to curb illicit financial flows as the naira continues to face pressure across exchange windows.
The naira depreciated by N0.14 at the official forex market on Thursday, trading at N1,599.93 per dollar, while black market rates remained unchanged at N1,620. The CBN announced plans to intensify compliance checks on BDCs, warning operators to adhere to anti-money laundering laws or face sanctions.