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 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.
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