The Central Bank of Nigeria (CBN) has announced the sales of dollars to 1, 588 Bureau De Change (BDC) operators to meet retail market demand for eligible transactions.
In a circular available on CBN’s website, the apex bank stated thus:
“We write to inform you of the sale of $10,000 by the CBN to BDCs at the rate of 1,101/$. The BDCs are in turn to sell to eligible end users at a spread of NOT MORE THAN 1.5% of above the purchase price.
The listed eligible BDCs have been directed to commence payment of the naira deposits into four CBN accounts, starting from April 8, 2024.
The apex bank also asked the operators to submit proof of payment and other documents at the