The Central Bank of Nigeria (CBN) in a bid to provide additional liquidity to the foreign exchange market has announced the sale of $20,000 to each of the eligible Bureau De Change (BDC) operators in the country at the rate of N1,590/$.
In a circular to all Bureau De Change operators the apex bank stated thus:
“All BDCs are allowed to sell to eligible end-users at a margin of not more than one percent above the purchase rate from CBN.
“Eligible BDCs interested in this transaction are directed to make the naira payment to the CBN deposit account numbers with them.
“Also, payment confirmation and all necessary documentation for disbursement are to be submitted at the appropriate CBN branches in Abuja, Akwa, Kano and Lagos for collection of the $20,000.”