""CBN Releases Reversed Regulatory And Supervisory Guidelines For Bureau De Change Operations In Nigeria, Here Are Key Points:

1.⁠ ⁠Bureaux de Change (BDCs) now have tiers: Tier 1 requires a minimum capital of N2bn (this is for a national license), while Tier 2 has a minimum capital requirement of N500m (these can only operate within one state and are allowed a maximum of 3 branches).

2.⁠ ⁠A shareholder cannot own more than one BDC, thus preventing people from holding more than one license.
3.⁠ ⁠BDCs can now serve as agents to disburse funds on behalf of International Money Transfer Operators (IMTOs). Only amounts less than $500 can be received in cash, while larger amounts should be deposited in bank accounts. For foreigners, a card will be issued. Essentially, BDCs will now be able to issue Naira cards.

4.⁠ ⁠BDCs can now issue PTAs and BTAs.

5.⁠ ⁠BDCs are going digital and will need to integrate the Central Bank of Nigeria (CBN) reporting platform for transaction and Anti-Money Laundering (AML) purposes. They will also integrate Federal Inland Revenue Service (FIRS) and Nigeria Inter-Bank Settlement System (NIBSS) for Bank Verification Number (BVN) verification, among other things.

6.⁠ ⁠As a Tier 1 BDC, you must have a minimum of 5 board members and a maximum of 9. Tier 2 should have 7 members. The draft guideline provides for gender equality, so a board cannot be constituted with only one gender. The CBN must now approve of directors serving on the board of a BDC and another regulated financial institution. New qualifications now require board members to have experience working in financial institutions. In particular, independent directors must have worked on the management team of a BDC.

7. Banks and Other Financial Institutions (OFIs) cannot hold Bureau De Change (BDC) licenses. It remains to be decided whether some of the permissible activities of BDCs under the draft regulation, such as the issuance of Business Travel Allowance (BTA) and Personal Travel Allowance (PTA), will be exclusively reserved for the BDC.

8.⁠ ⁠There is now a very extensive requirement for licensing. It’s a whole lot. It is very similar to what the CBN would demand from a finance company or bank, with increased scrutiny.

10. Unlike banks- BTA/PTA threshold they can sell is bi annual - sell 4k to individuals and 5k to businesses cumulatively in a 6 month period

11. No more street trading.""

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Thank you.

sheanzy:
it seems you are a newbie.

Chasing pumps is a sure way to get rekt..

Just a piece of advice

With what you just said, you seem to be the novice. I chased a Solana pump for weeks last year and got a very huge return on investment.

There are certain indicators you look out for while chasing it which would determine when you should pull out.

CandidAdmin:


I know say things no normal.

But still Yes or No? Can I?

I want to start and it's only 2k I can spare.

Usd ?

Assetosky:




You go soon kolet wetin no good

Na you wey no sabi place positions after critical thinking go kolet wetin no good

The market is bullish now. He go collect better cash.

Decryptor:


Na you wey no sabi place positions after critical thinking go kolet wetin no good

The market is bullish now. He go collect better cash.

Drop the strategy na........

Who is using luno. The app is not working and even their website is not accessible. What could be wrong?

Elsueno:


But binance speculators can't do shyt if dollar is easily available in d banks for those who need it. THE REAL PROBLEM IS SUPPLY .

Just make d green back available & give it to people who really need it. Nigerians go loose intrest in hoarding immediately they find out things are easy to get...I remember when dollar was around 100-150's...U can just walk into a bank & get it from d counter, no hassle

exactly my brother you said it all thanks for your nice contribution

CandidAdmin:
Can some1 invest in crypto with 2k?

2,000 Naira or $2,000 which one

CandidAdmin:


I know say things no normal.

But still Yes or No? Can I?

I want to start and it's only 2k I can spare.

my brother to be sincere 2K is too small unless you want today dollar cost average with 2,000 Naira every blessed day

GRACEGLORY:
…

I swear the man said it all

Tolu1992:
Who is using luno. The app is not working and even their website is not accessible. What could be wrong?

my own luno website is working perfectly well I don't normally use the app but the website is working okay on the Chrome browse

Ebubu2:


And what do u mean by my group not helping me out? Shey they are the owners of OKX that they’ll sort out the issue instead of the OKX official Support Admin ?

So who kon be OKX support admin for here??

I for say you no get sense oo but I don give my life to Christ. You were very rude and entitled in that thing you typed that day, me I just look am pass cos i cannur be part of the people you're talking to laidat. i even dey vex for the people wey later reply you, reply wey you no deserve one bit

twosquare:
That's true. 27th or 28th? PCE on 29th....

My bad, GDP 28th, PCE 29th

Tolu1992:
Who is using luno. The app is not working and even their website is not accessible. What could be wrong?

T1nubu don touch Luno.....I just checked and see what I saw

careercrew1:


T1nubu don touch Luno.....I just checked and see what I saw

i so much like that Luno
But anyway why do you people like to buy usdt or usdc as for me I prefer to hold BTC or naira than to hold any stable coin to avoid what happened in ust stable coin

careercrew1:


T1nubu don touch Luno.....I just checked and see what I saw

Are you using vpn or what bro because mine is showing no network connection

Same with me

Tolu1992:


Are you using vpn or what bro because mine is showing no network connection

sulakishop:
Same with me

Exactly same thing am experiencing ooo

careercrew1:


T1nubu don touch Luno.....I just checked and see what I saw

Careercrew1 how were u able to access the app please

careercrew1:


T1nubu don touch Luno.....I just checked and see what I saw

LMAO!

That's why I ran away from using Nigerian Wallet providers. Binance all the way!!

Tolu1992:

Careercrew1 how were u able to access the app please

I just launched the app and I got the pop up.......didn't use vpn

Runsboi:


So who kon be OKX support admin for here??

I for say you no get sense oo but I don give my life to Christ. You were very rude and entitled in that thing you typed that day, me I just look am pass cos i cannur be part of the people you're talking to laidat. i even dey vex for the people wey later reply you, reply wey you no deserve one bit

Carry your vex go comot Nigeria’s inflation.

Who ur vex help?
Abeg comot here


Everybody wey dey vex make e vex dey go

Cos when I made the appeal humbly and gently for several days nobody said a dime.
Nobody dey buy me data shishi I dey use enter here so wetting ur vex go do for me?

Sincere apologies to those who advised me to contact customer care, it paid off🙏 God bless u

OKX launches it's own Airdrop

If you missed Smart Layer, don't miss this great opportunity.

Link your OKX address and perform some tasks. To be listed soon. This is going to be huge.

Join with this code: WKEK64

https://lfg.onelink.me/7z2d/e5199ord


(Modify) (Quote) (Report) (Share)

Tolu1992:

Exactly same thing am experiencing ooo

Yesterday I was able to access my account through the app. But as at this morning I am having network issues.

[Modified]
I can now access Luno through the OperaMini browser on my phone.

Ebubu2:


Carry your vex go comot Nigeria’s inflation.

Who ur vex help?
Abeg comot here


Everybody wey dey vex make e vex dey go

Cos when I made the appeal humbly and gently for several days nobody said a dime.
Nobody dey buy me data shishi I dey use enter here so wetting ur vex go do for me?

Sincere apologies to those who advised me to contact customer care, it paid off🙏 God bless u

okay

Runsboi:


okay

thank u

neoclassical:
OKX launches it's own Airdrop

If you missed Smart Layer, don't miss this great opportunity.

Link your OKX address and perform some tasks. To be listed soon. This is going to be huge.

Join with this code: WKEK64

https://lfg.onelink.me/7z2d/e5199ord


(Modify) (Quote) (Report) (Share)

Here is wat it says

Image below

lrman:


Some of you should always check profiles before replying them...that one is just seeking attention with his fake moniker..I know who is behind the moniker..that one is just a troll...

What does that say about you?

Aren't you too a troll with over 50 monikers waiting for the perfect moment to scam?

You think we aren't watching you abi?

NigerianEagle:


Do you want us to continue our fight here?

Just mention my main moniker here and see what will happen

Don't mind the small boy. I know of some of his other accounts that he uses to cause trouble on other threads on the forum.

If he makes pim just mention me so I will come and reveal it here too. The guy no get any life outside of nairaland at all.

Ebubu2:
$10 subscription. Monthly you get signals of tokens that can do over 100x
So when you buy, you surely rise with it in 6weeks or less. You have $10 sub ?

Yea I'm interested bro. How do I join?

Naira rate don dey volatile overnight. Pumping and dumping like shitcoin.