Dollar Vs Naira: CBN Sells Additional $20000 To BDCs At NI590/$

Dollar Vs Naira: CBN Approves Sales Of Additional $20000 To BDCs At NI590/$—–The Central Bank of Nigeria, (CBN) in its efforts to providing liquidity to the Bureau De Change (BDC) Operators segment of the foreign exchange market, has approved the sale of $20,OOO.OO.

 

This will be sold to each eligible BDC at the rate of NI,590/$.

 

A statement signed by Acting Director, Trade & Exchange Department of CBN, Dr. W. J. Kanya  stated that the decision is to meet the demand for invisible transactions.

 

It warned that all BDCs are allowed to sell to eligible end-users at a margin of NOT MORE THAN one percent (1%) 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 – (ABUJA, AWKA, KANO and LAGOS) for collection of the $20,OOO.OO”, it stated.