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The Heat are the favourite to win

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The Heat are the favourite to win

The Miami Heat will settle scores with the Golden State Warriors at the Kaseya Center in Miami, Florida on Tuesday night. The Heat are eager to do everything possible to secure the win. Our basketball betting expert, Agbeniga Ayobami, presents her top Heat vs Warriors predictions.

Heat vs Warriors Predictions & Tips

  • Heat Moneyline @ 1xbet
  • Over 219 Points @ 1xbet
  • Stephen Curry Over 35 Points and Assists @ 1xbet

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The Heat are the favourite to win and possess the quality to beat the Warriors.

Miami Heat hope to avoid the play-in tournament

The Miami Heat are determined to secure wins and move up in the Eastern Conference standings to avoid the play-in tournament. That is why they are likely to come out with a strong performance, especially considering their recent disappointing loss against New Orleans at home.

Jimmy Butler’s scoring prowess, as evidenced by his 30-point performance against the Cavaliers, is a key factor for the Heat’s success. Additionally, Terry Rozier’s improved performance in the Heat’s offence adds depth and offensive firepower to their lineup.

Considering these factors and the Heat’s desire to secure victories to avoid the play-in tournament, they are likely to be favoured at home and should be motivated to deliver a strong performance. Therefore, betting on the Heat to win, especially considering their recent form and the importance of the game for their playoff aspirations, seems like a reasonable choice.

Bet 1: Heat Moneyline @ 1xbet

Both sides to demonstrate their offensive skills

The Warriors, averaging 118.3 points per game, rank 7th in the league in scoring offence. Meanwhile, the Heat, despite their lower offensive output at 109.6 points per game, boast a formidable defence. They allow just 108.9 points per game, which ranks them 4th in the league.

In terms of shooting efficiency, the Heat are 22nd in field goal percentage and 11th in 3-point shooting, indicating their ability to score efficiently from beyond the arc. Defensively, they rank 11th in both field goal and 3-point percentage allowed.

Considering these factors, along with the Warriors’ tendency to participate in high-scoring games, reflected in their 36-34 over/under record, this game is likely to be a high-scoring one. Therefore, betting on the over for total points in this clash seems like a logical choice.

Bet 2: Over 219 Points @1xbet

Stephen Curry Shows Solid Form

Stephen Curry’s impact on the Golden State Warriors is undeniable, serving as the cornerstone of their offence with his exceptional scoring ability. He averages an impressive 26.8 points per game in just over 32 minutes of play. Moreover, his ability to create opportunities for his teammates, as evidenced by his 4.9 assists per game, is top-notch.

In his career matchups against the Miami Heat, Curry has maintained a solid performance, averaging 24.5 points, 6.7 assists, and 5.3 rebounds in 22 games. Against teams in the Western Conference, which includes many of the league’s toughest opponents, Curry averages 24.7 points, 6.5 assists, and 4.7 rebounds in 592 career games.

In the current season alone, Curry has maintained a similar level of performance against Western Conference teams, averaging 26.8 points, 4.9 assists, and 4.5 rebounds in 64 games.

Bet 3: Stephen Curry Over 35 Points and Assists @ 1xbet

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FG contacts INTERPOL, begins manhunt for fleeing Binance executive

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FG contacts INTERPOL, begins manhunt for fleeing Binance executive

The Federal Government says it is in talks with the International Criminal Police Organisation for the re-arrest of an executive of the cryptocurrency platform, Binance, Nadeem Anjarwalla, who escaped from custody.

It also said it had begun a manhunt for the Binance executive and had arrested security personnel under whose watch he escaped.

Anjarwalla, 38, a suspect in an ongoing probe into Binance’s activities in Nigeria, had been detained for tax evasion and other offences.

On Thursday, March 21, the Nigerian government convicted him of a four-count criminal charge.

A day later, he escaped from the Abuja guest house, where he and a colleague were detained after guards on duty led him to a nearby mosque for prayers in the spirit of the ongoing Ramadan fast.

“The Office of the National Security Adviser confirms that Nadeem Anjarwalla, a suspect in the ongoing criminal probe into the activities of Binance in Nigeria, has escaped from lawful custody on Friday, March 22, 2024,” read a statement from the Office of the National Security Adviser on Monday.

Addressing State House correspondents after this week’s Federal Executive Council meeting, the Minister of Information and National Orientation, Mohammed Idris, said the FG has begun a manhunt for the fleeing executive.

He affirmed that Anjarwalla’s escape would not affect the payment of $10bn fines for money laundering.

The According reports that the Federal High Court in Abuja, on March 22, granted requests by Binance to pay the sum of $4.3bn in ‘Settlement For Anti-Money Laundering Sanctions, Violations’

“Yes, the man has escaped from our custody, and there is now a manhunt on him. Those who were charged with his custody have been arrested and will be brought to book,” said Idris.

Also speaking on the matter, the Chairman of the Federal Inland Revenue Service, Zacch Adedeji, said the escape does not mean Binance will get away with the $10bn fine for money laundering.

This is because the FG is dealing with the company, not individuals, Adedeji explained.

“We are dealing with the company and not individuals, and we can enforce compliance with our laws.

“So, whether he escapes or not, that will not in any way affect our plans to enforce compliance as we can ensure that the organization complies with our legal requirements as a country,” he stated.

Plateau sets up committee to resettle attack victims

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Plateau sets up committee to resettle attack victims

Plateau State Governor, Caleb Mutfwang, on Monday, set up a committee with a mandate to resettle those who were displaced from their communities following persistent attacks on them by gunmen in the state.

The Director of Press and Public Affairs, Government House, Mr Gyang Bere, who disclosed this in a statement on Monday also said that the governor equally inaugurated three additional committees including the one mandated to address complaints arising from the upgrade of chiefdoms and districts carried out by the last administration.

The According reports that gunmen had in the past months attacked several communities in the state leading to the death of many villagers and the destruction of their properties

Over 21,000 persons who were displaced following the attacks are said to be camping at different locations in various Local Government Areas including Bassa, Bokkos, Mangu, Riyom, and Barkin Ladi among others.

During the inauguration on Monday, the governor reiterated his administration’s commitment to return the internally displaced persons back to their ancestral homes as well as tackling the challenges faced by the citizens in the state.

The statement read in part, “In a determined effort to fulfill his campaign pledges to the people of Plateau State, Governor Caleb Manasseh Mutfwang has inaugurated a Task Force focused on resettling Internally Displaced Persons to their original communities within the state.

“The ceremony, held at Government House Little Rayfield, Jos, also saw the inauguration of three additional committees: one tasked with reviewing the structure and performance of the Plateau State Civil Service, another to address complaints stemming from the 2015 upgrade of Chiefdoms, creation of Districts, and Villages, and a third focusing on Land Administration in Plateau State.

“Governor Mutfwang reiterated his administration’s commitment to tackling the challenges facing Plateau citizens and expressed confidence that the carefully selected members of these committees would guide decision-making without bias.

“Highlighting the resettlement of IDPs as a top priority, Governor Mutfwang emphasized the importance of enabling displaced individuals to return to their ancestral homes before the upcoming farming season.

“He also stressed the need to utilize all available farmland to enhance security and address the economic decay witnessed across various sectors.

“The Task Force, led by Air Commodore Rwang Pam Christopher, is charged with identifying displaced communities, gathering data on IDPs, facilitating their relocation, and implementing security measures.

“In his assessment of the civil service, Governor Mutfwang lamented the prevalence of mediocrity and pledged to restore the sector’s former glory.

“Regarding the contentious issue of Chiefdom upgrades and land allocations, the Governor acknowledged the need for impartial scrutiny to address complaints and make recommendations in the interest of all stakeholders.

“Expressing concern over the misuse of land resources, Governor Mutfwang warned against illegal land ownership and pledged to enforce regulations to safeguard public interests.

“He assured residents that the committees’ mandate is not punitive but aimed at addressing pressing issues affecting public health and welfare.

“Barr. Isaac Dimka, speaking on behalf of the Committees, thanked the Governor for the opportunity to serve and pledged their unwavering support and dedication to their respective mandates”

Ondo speaker, 15 lawmakers endorse Aiyedatiwa’s governorship bid

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Ondo speaker, 15 lawmakers endorse Aiyedatiwa’s governorship bid

No fewer than 15 members of Ondo State House of Assembly have declared support for the incumbent governor of the state, Lucky Aiyedatiwa, to clinch the ticket of the All Progressives Congress and win the November 2024 governorship election.

The lawmakers, led by the Speaker, Olamide Oladiji, disclosed that Aiyedatiwa has so far impressed them by continuing with the legacies of late Governor Rotimi Akeredolu despite being in office for only a short period.

The endorsement comes one week after some members of the state Assembly passed a vote of no confidence on the speaker after he openly assured Aiyedatiwa of getting the support of about 18 lawmakers during the governor’s formal declaration to enter the race a few weeks ago.

But Oladiji told newsmen during a visit to the APC national secretariat in Abuja on Monday that the governor has done more than enough to warrant the endorsement.

The Speaker, who came with a delegation of 15 state lawmakers, said the governor had prioritsed payment of their salaries, begun the recruitment of about 2,000 health workers and maintained a cordial relationship with the legislature, judiciary and the executive arms of government in the state.

He said, “We are here to tell you that as far as we are concerned, those of us here and our members who are on their way, are fully in support of continuity of the APC-led government. We are in support of continuity. We believe it will work out and we are giving them 100 per cent assurance that the primary elections will be peaceful.

“In respect of the letter that a few members of the House of Representatives wrote to Mr. President (concerning Aiyedatiwa’s endorsement). Our members here disagree with the letter. That’s also because we are honourable members in our various state constituencies.

“We have almost 15 of us here present. Do you know what it means? We have 22 APC members in the House of Assembly. We are 13 here now and another two are on their way coming. So that makes 15 of us. And we are telling you that the state under the leadership of Mr. Governor is at peace.

“Maybe I should put the question to my members. Do we have anyone of you who want to contest against Aiyedatiwa? His achievements, the achievements of the incumbent governor are out there. Presently, he has started the recruitment of 2,000 workers in the academic sector, and at the same time, he has worked at the ODRS (Ondo State Revenue Service). The most important thing is that he did not stop the legacy started by the late governor. He directed all the contractors to go back to the site which everybody in the state applauded. There is a synergy now between the executive, the judiciary, and the legislature.”

While welcoming the delegation, National Chairman of the party, Dr Abdullahi Ganduje, assured that the ruling party would provide a level playing field for all governorship aspirants ahead of the APC primaries in the state.

Ganduje also recalled how he, alongside President Bola Tinubu, was compelled to wade into the political impasse between the lawmakers and Aiyedatiwa shortly before Akeredolu died.

He said, “We can’t disconnect legislators from the office of the party here in Abuja because there is always a relationship between you and the office. I call upon you to cooperate with us as we conduct the primary election.

“In this year’s election in Ondo, there are many things that must happen according to our programme, starting with verification of members, screening of aspirants, purchase of expression of interest and nomination forms, and the primaries to pick candidates.

“Ondo state is an APC state and will continue to maintain it. We need your cooperation to conduct free and transparent primaries. We believe our members are equal to the task. What we are seeing here is that there would be cooperation and good synergy with state Assembly members. We have planned a well-articulated programme for the primaries to produce a candidate.”

Top Europa League Predictions for Bettors in Nigeria

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Top Europa League Predictions for Bettors in Nigeria

After the Champions League, the Europa League is the second biggest UEFA competition among Nigerian bettors. You’re on the right page if you’re looking for reliable Europa League predictions. We’ve researched and put together the best tips you can follow while betting.

What is the Europa League?

Launched in 1971, the Europa League is the second-tier international club football competition organized by UEFA. It features teams from top European leagues, and the competition is held annually. Club sides who finish below the UCL spots in their local league tables qualify for the Europa League.

Additionally, teams that finish third during the group stage of the Champions League also join the UEL. Some top countries that usually participate include England, Spain, Germany, Italy, France, Netherlands, Portugal, and Belgium.

The Europa League follows the standard format of UEFA club competitions. Compared to the Champions League, the only difference is that there’s a round of 32 before the round of 16. The Europa League winner challenges the Champions League winner in the UEFA Super Cup at the end of the competition.

Which teams are in the Europa League?

If you want to bet on Europa League fixtures, a good starting point is knowing the teams involved. That way, you can better apply predictions as you select odds at betting sites in Nigeria. For the 2023/24 season, 32 teams qualified for the UEFA Europa League, all separated into eight groups.

With the group stage and first knockout rounds completed, below are the current teams in the competition:

  • Liverpool
  • Atalanta
  • Benfica
  • Marseille
  • Milan
  • Roma
  • Leverkusen
  • West Ham

So, the teams in the UEL in 2024 span across multiple countries — England, Italy, Portugal, France, and Germany. You can find our reliable Europa League football predictions for games involving all the club sides.

Which team won the last Europa League?

Last season, 2022/23, Sevilla were the Europa League champions after defeating Roma in the final. It was the 7th time the Spanish side won the trophy, which makes them the most successful club in UEL history. For emphasis, Sevilla has previously won the Europa League in 2020, 2016, 2015, 2014, 2007, and 2006.

The 2023 final between Sevilla and Roma was quite a challenging one, as both teams fought until penalties. Our betting tips for the game picked the La Liga team to emerge victorious, which was accurate. After finishing a 1-1 draw at the end of extra time, Sevilla won 4-1 on penalties.

Who are the favourite teams for the Europa League this season?

Based on our well-researched Europa League predictions, Liverpool are the favorite team to win this season’s trophy. The English side has the most formidable squad compared to other clubs remaining in the competition. Having missed out on the Champions League, they’ll be looking to win the UEL as they also chase Premier League glory.

After Liverpool, Bayer Leverkusen are the second favorites to win the Europa League. The club has put up an excellent and impressive performance this season, and they’re en route to win the Bundesliga. Landing a double with the Europa League trophy will be a significant addition to their trophy catalog.

What are the odds for the top goal scorer?

Pierre-Emerick Aubameyang is the current favorite to win the top goal scorer in the 2023/24 Europa League. The Marseille striker has already found the net 9 times and will be looking to hit double figures in upcoming matches.

Representing Ajax, Mohammed Kudus ranks second on the top scorer list with 8 goals. However, it’s impossible that he’ll overtake Aubameyang, as Ajax are out of the league. The Dutch side didn’t qualify for the group stage.

The third favorite, according to our predictions on the Europa League, is Romero Lukaku. As the top 9 striker for Roma, the Belgian has 7 goals and will need at least 3 more to surpass Aubameyang in the first position.

Where to bet on the Europa League?

Due to the competition’s popularity, all sportsbooks in Nigeria feature Europa League matches. So, finding a site to bet on shouldn’t be difficult. However, ensure you gamble responsibly, and we recommend only using quality and reputable platforms.

We’ve evaluated and identified the best betting sites in Nigeria for UEL fixtures, which are 100% reliable. Check them out below:

Bet on your Champions League Predictions for 2023/24

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Bet on your Champions League Predictions for 2023/24

The UEFA Champions League is an exciting football competition that brings together top European clubs. Are you looking to bet on the exciting plays the competition is famous for? We share some betting tips and recommend the top betting sites where you can bet on your Champions League predictions.

What is the Champions League?

The Champions League is one of the most prestigious football competitions in the world. It is organised by the Union of European Football Associations (UEFA), hence the name, UEFA Champions League.  This annual club football competition features 32 teams from various European countries. A new format will be introduced in the 2024/25 season that will see 36 teams in a league phase format.

There are over 40 participating countries. Notable mentions include England, Spain, Germany, Italy, France, Portugal, Netherlands, and Belgium. Others include Scotland, Austria, Denmark, Serbia, Greece, and Poland. Countries like Israel, Kazakhstan, and Azerbaijan, whose lands span more than a continent, also participate.

Since its introduction in 1995 and its rename in 1992, the competition has attracted an enormous global audience. It is currently the most-watched club competition globally. The competition operates on a round-robin group stage. Group stage winners then proceed to a double-legged knockout format, ending in a single-leg final.

Which Teams are in the  Champions League?

As mentioned previously, the Champions League welcomes 32 teams every year. The lineup for the 2023/2024 season includes the big guns from top European leagues. We have categorised the teams according to their countries below:

  • England: Arsenal, Manchester City, Manchester United and Newcastle United.
  • Spain: Atlético Madrid, Barcelona, Real Madrid, Real Sociedad and Sevilla.
  • Italy: Inter Milan, Lazio, AC Milan and Napoli.
  • Germany: Bayern Munich, Borussia Dortmund, RB Leipzig and Union Berlin.
  • France: Lens and Paris Saint-Germain.
  • Portugal: Benfica, Braga and FC Porto.
  • Netherlands: Feyenoord and PSV Eindhoven.
  • Austria: Red Bull Salzburg.
  • Scotland: Celtic.
  • Serbia: Crvena zvezda (Red Star Belgrade).
  • Ukraine: Shakhtar Donetsk.
  • Belgium: Antwerp.
  • Switzerland: Young Boys.
  • Denmark: Copenhagen.
  • Turkey: Galatasaray.

Bettors can consider any of the 32 teams at the start of the competition for their Champions League predictions.

Which Team Won the Last Champions League?

Manchester City, from England, won the UEFA Champions League title in the 2022/2023 season. City’s journey to conquering Europe was interesting. The team dominated the group stages with 14 points from six matches and proceeded to the knockout stages.

They defeated RB Leipzig and Bayern Munich (both from Germany) in the round of 16 and quarter-finals. These wins set up a historic 4-0 two-leg victory over Real Madrid from Spain. Finally, they secured a hard-fought 1-0 win over Inter Milan in Istanbul. It was the club’s first-ever Champions League title.

Who are the Favourite Teams for the Champions League this Season?

Several strong contenders are vying to become European Champions for the 2023/2024 season. These include Barcelona (from Spain), Bayern Munich (from Germany), and Paris Saint-Germain (PSG) (from France). Others are Real Madrid (from Spain) and last year’s winner, Manchester City (from England).

These teams have a rich history and talented squad capable of delivering excellent performances at the highest stage. However, it remains to be seen which team will lift the trophy. The final will be held on June 1st at London’s historic Wembley Stadium.

What are the Odds for the Top Goal Scorer?

The top goal scorer award in the UEFA Champions League acknowledges a player’s goal contributions. While this is a personal award, it often reflects team performance and chances. Punters can also make their Champions League predictions for the top scorers.

This year’s edition of the competition boasts a tight but interesting list of top goal-scorers. The top four players on the top scorers’ chart have six goals each just after the round of 16. These include Erling Haaland (Manchester City), Antoine Griezmann (Atlético de Madrid), Harry Kane (Bayern Munich), and Kylian Mbappe (Paris Saint-German).

Where to Bet on the Champions League?

Besides the excitement and entertainment, punters bet on Champions League games for the quality of teams the competition offers. The competition brings together the best teams from various leagues, allowing bettors to explore elite football predictions. The odds are also competitive, as in any high-profile competition.

Our experts have shortlisted the best betting sites in Nigeria for your predictions of the Champions League. Each site offers players an excellent betting experience. Check out our comparison in the table below to see which bookmaker is best for you.

Giannis Antetokounmpo to deliver again

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Giannis Antetokounmpo to deliver again

Bucks and Lakers will settle scores at the Fiserv Forum in Milwaukee, Wisconsin. The Bucks have secured victories in their last six home games. Can they continue their run? Our basketball betting expert, Agbeniga Ayobami, presents her top Bucks vs Lakers predictions.

Bucks vs Lakers Predictions & Tips

  • Bet 1: Bucks Moneyline @ 1xbet
  • Bet 2: Over 210.5 @ 1xbet
  • Bet 3: Giannis Antetokounmpo Over 30 Points @ 1xbet

Get 330% up to ₦189,280 with the code 1VIPCODE

Our Bucks vs Lakers prediction is for the Bucks to win.

The Milwaukee Bucks to dominate the clash

The Milwaukee Bucks have been in impressive form, particularly on their home turf, where they have become almost invincible. They have recorded 6-0 at home in their last six games and have managed to cover the spread in five of those games.

Moreover, the Bucks have also excelled in home games against Western Conference teams following a win, with a winning streak of 10 games. Additionally, the Bucks have also shown prowess when playing with the benefit of extra rest, covering the spread in each of their last five games under such circumstances.

Considering these trends and their current position in the Central division standings, the Bucks are in a strong position to secure their third consecutive win. This is especially due to their formidable record at home and their success against Western Conference opponents in similar scenarios.

Bet 1: Bucks Moneyline @ 1xbet

Expect an attacking game from both sides

Backing the over in a game featuring the Los Angeles Lakers is a wise choice, especially in light of their latest offensive output and LeBron James’ impressive performances. The Lakers have shown some momentum with four wins in their last six games.

With LeBron consistently putting up big numbers and leading the Lakers’ offensive charge, it’s reasonable to expect a high-scoring affair. This can especially be expected against an opponent that may not have the defensive prowess to effectively limit him.

Considering these factors, along with the attacking potential of both teams, backing the over in this matchup seems like a reasonable and logical choice.

Bet 2: Over 210.5 @ 1xbet

Giannis Antetokounmpo to deliver again

Giannis Antetokounmpo has been delivering superb performances on the offensive end for the Milwaukee Bucks. In recent games, Giannis Antetokounmpo has been in top form, scoring at least 30 points in five of his last six matchups.

His impressive stats include averaging 30.7 points per game and 11.3 rebounds per game for the season. Additionally, when facing the Lakers throughout his career, Antetokounmpo has maintained solid averages of 28.0 points, 10.5 rebounds, and 4.9 assists in 20 games.

Bet 3: Giannis Antetokounmpo Over 30 Points @ 1xbet

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Kaduna police arrest fake soldier for armed robbery

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Kaduna police arrest fake soldier for armed robbery

Operatives of the Kaduna State Police Command have arrested a fake soldier identified as Ya’u Ja’afar, for robbery and extortion of residents in the state.

The state Police Public Relations Officer, ASP Mansir Hassan, in a statement on Monday, said the suspect was arrested by officers of the Millennium City Police Division following a report by a citizen.

Hassan said Ja’afar and his accomplices, now at large, robbed one Abdulrashid Musa with pistol.

The police spokesman added that when the suspect was traced to his residence, an Army camouflage and a pistol were recovered.

He said, “The arrest culminated from a harrowing encounter on March 16, 2024, where Ja’afar and his accomplices, still at large, wielded a pistol to rob Abdulrashid Musa. The assailants fled with cash amounting to N25,500 and numerous mobile phones.,

“Prompt action by the surveillance team led to Ja’afar’s arrest, and a subsequent search of his residence yielded incriminating evidence, including Army camouflage and a pistol.

“The arrest of Ya’u Ja’afar serves as a testament to the relentless pursuit of justice by the Kaduna State Police Command under the leadership of CP Ali Audu Dabigi, as they continue to strive towards a safer and more secure environment for all.”

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Be mindful of EFCC, Benue gov warns LG chairmen

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Be mindful of EFCC, Benue gov warns LG chairmen

Benue State Governor, Hyacinth Alia, has warned local government chairmen in the state against indulging in financial misappropriation as the Economic and Financial Crimes Commission will breathe down on them.

The governor further warned the chairmen against leaving their council area.

Alia gave the warnings on Monday while declaring open a two-day workshop on ‘Responsive Local Government Leadership for Effective Local Government Administration in Benue State.

While admonishing the council chairmen to imbibe accountability, integrity and transparency in the discharge of their duty, the governor said they must not take the Internal Generated Revenue or taxes as personal funds but to strive to increase their IGR to improve on the welfare of their people.

He reminded the council chairmen of their social contract with the people and, as such, charged them to abide with the interests of the people and know what they wanted.

He said, “You must embark on human development, aim high, and let the people know that the system is working.

“Do not let anyone take you by surprise, as you have a big brother, EFCC, who is always beaming a searchlight on you

“Target what our administration is looking for to enable us who are vested with this responsibility to know our social contract with the people and know the depth of service to the people and benefit of democracy.

“The theme speaks to reality, that is, the method of service delivery and management of the third tier of government. It is meant to equip you to understand your roles
The local governments are placed strategically to play a role in administrative processes, and this must be in tandem with our goals.

“See the challenges you are faced with and proffer solution. See how you can make an imprint in the LG system. You have to make the state and stakeholders and everyone involved in the state proud of you. We have given autonomy to the LG system and have plans to open the rural areas to thrive. We have mapped out strategic projects awaiting execution in our LG areas.

“Be at your station and stop parading about. Take this very seriously, be where you must be at the right time. Let the people know you. Let them not just know that you are collecting taxes but let it have an impact on them. Build heaven out of hell in your LG areas. Be the mechanic to good governance. Keep a good record when you are to depart. Give LG people comfort. ”

The Special Adviser, Local Government and Chieftaincy Affairs, Dennis Akura, explained that the workshop was designed not only to familiarise administrators with the intricacies of governance but to equip them with the managerial skills necessary for excellence in their roles.

CBN sells $10,000 to BDC at N1,251/$1

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CBN sells $10,000 to BDC at N1,251/$1

The Central Bank of Nigeria has issued a circular to Bureau De Change operators informing them of the sale of $10,000 to each BDC at a rate of N1,251/$1.

This was contained in a circular made available to According Online and signed by the bank’s Director, Trade and Exchange Department, Dr Hassan Mahmud, on Monday.

The apex bank directed each BDC to sell the dollars to eligible customers at a rate not exceeding 1.5 per cent above the purchase price, implying that each BDC is not expected to sell above N1,269/$1.

The According reported that the CBN announced its decision to sell foreign exchange worth $20,000 to each eligible Bureau De Change operator across the country in February.

This is coming more than two years after the former CBN Governor, Godwin Emefiele, stopped the sales of foreign exchange to BDC operators in that segment of the forex market.

The document read, “We refer to our letter to you referenced TED/DIR/CON/GOM/001/071 in respect of the above subject wherein the CB approved a second tranche of sale of FX to eligible BDCs.

“We write to inform you of the sale of $10,000 to each BDC at the rate of N1,251/$1. The BDCs are to sell to eligible end users at a spread of not mora than 1.5 per cent above the purchase price.”

This confirms a resumption of the sale of dollars to BDC operators after a protracted period of ban by the central bank in 2021.

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