Economy
SEC insists on January 31 deadline for CMO registration renewal

The Securities and Exchange Commission (SEC) has issued a reminder to Capital Market Operators (CMOs) to renew their registration for the 2025 operational year no later than January 31, 2025.
This directive was communicated through a circular urging CMOs to commence the annual renewal process from January 1, 2025.
In a statement, the SEC noted that the annual renewal of registration is designed to ensure that only fit and proper individuals or entities operate within Nigeria’s capital market.
The statement added that the exercise would be conducted electronically, with CMOs required to submit proof of their 2025 annual subscription payments to their respective trade groups as part of their renewal application.
The SEC stated: “This is to inform all Capital Market Operators (CMOs) and the general public that the annual renewal of Registration of CMOs for the year 2025 will commence from January 01, 2025. All CMOs applying for renewal are required to include their 2025 annual subscription receipt from their respective trade groups as part of their application.”
It further explained that all CMOs are required to complete their registration renewal through the SEC’s designated portal at www.eportal.sec.gov.ng on or before January 31, 2025.
The SEC warned that CMOs who fail to meet the deadline or secure valid registration would face penalties and could be barred from conducting capital market activities.
The Commission first reintroduced the requirement for annual registration renewal in 2021, citing the need for a reliable database of active and registered CMOs in the Nigerian capital market.
This measure aims to ensure that local and foreign investors, regulatory agencies, and the public can access accurate and up-to-date information on market operators.
The initiative also seeks to curb unethical practices that could undermine investor confidence and harm the capital market’s reputation.
Additionally, it enhances the SEC’s ability to supervise and monitor CMOs effectively.
To facilitate the renewal process and improve efficiency, the Commission amended its rules, mandating that the registration renewal process be conducted electronically.
Economy
SEE Black Market Dollar To Naira Exchange Rate in Lagos and FCT today, 7th February 2025

The official naira black market exchange rate in Lagos and FCT, Abuja today including the Black Market rates, Bureau De Change (BDC), and CBN rates.
According to Bureau De Change (BDC) sources in the Ogba and Ikeja axis of Lagos state, the exchange rate for a dollar to naira at the Parallel Market (Black Market) is N1700 on Friday, February 7th, 2024, players bought a dollar for N1685 and sold it for N1700.
Bureau De Change (BDC) sources in Gwarimpa and Gwagwalada in FCT buy a dollar for N1685 and sell it for N1700 on Friday, February 7th, 2024.
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Lagos
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate N1685
Selling Rate N1700
Dollar to Naira Black Market Rate FCT, Abuja
Dollar to Naira (USD to NGN) CBN Rate Today
Buying Rate N1685
Selling Rate N1700
Please note that the rates you buy or sell forex may differ from what is captured in this article because prices vary from state to state across Nigeria.
Economy
CBN lists conditions for sale of FX to BDC operators

The Central Bank of Nigeria, CBN, has issued guidelines for the sale of foreign exchange (FX) to Bureaux De Change, BDC, operators.
The modalities are outlined in a statement issued by the Trade and Exchange Department of the CBN on Wednesday.
The Apex Bank stated that this is in response to its earlier authorization granting temporary access to existing BDCs to the Nigerian Foreign Exchange Market (NFEM) for the purchase of FX from authorized dealers.
The CBN noted that authorized dealers are only allowed to sell foreign exchange cash to BDCs, subject to a maximum of USD 25,000.00 per week per BDC.
The Apex Bank warned that any breach of this condition will attract appropriate sanctions.
The CBN emphasized that the selling rate by authorized dealers to BDCs shall be the prevailing day rate at the NFEM window.
According to the statement from the bank, “foreign exchange cash purchased by BDCs from authorized dealer banks shall be sold to foreign exchange end-users at a rate not exceeding a one percent margin above the buying rate.
“While the one percent margin stated above shall be applicable to all funds to be retailed by BDCs, regardless of the source of funds.”
Economy
Bank of England cuts interest rate to 4.5%

The Bank of England, on Thursday, reduced its key interest rate by a quarter point to 4.5 percent to help support weak British growth even if UK inflation stays elevated.
“We’ll be monitoring the UK economy and global developments very closely and taking a gradual and careful approach to reducing rates further,” governor Andrew Bailey said following the expected decision.
“It will be welcome news that we have been able to cut interest rates again today.
“We’ll be monitoring the UK economy and global developments very closely and taking a gradual and careful approach to reducing rates further.”
The details of the rate cut is on the Bank’s website, titled, “Bank Rate reduced to 4.5% – February 2025.”
According to the Bank, “At its meeting ending on 5 February 2025, the Monetary Policy Committee, MPC, voted by a majority of 7–2 to reduce Bank Rate by 0.25 percentage points, to 4.5%.
“Two members preferred to reduce Bank Rate by 0.5 percentage points, to 4.25%.
“There has been substantial progress on disinflation over the past two years, as previous external shocks have receded, and as the restrictive stance of monetary policy has curbed second-round effects and stabilised longer-term inflation expectations.
“That progress has allowed the MPC to withdraw gradually some degree of policy restraint, while maintaining Bank Rate in restrictive territory so as to continue to squeeze out persistent inflationary pressures.
“CPI inflation was 2.5% in 2024 Q4. Domestic inflationary pressures are moderating, but they remain somewhat elevated, and some indicators have eased more slowly than expected.
“Higher global energy costs and regulated price changes are expected to push up headline CPI inflation to 3.7% in 2025 Q3, even as underlying domestic inflationary pressures are expected to wane further.
“While CPI inflation is expected to fall back to around the 2% target thereafter, the Committee will pay close attention to any consequent signs of more lasting inflationary pressures.”
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