The Central Bank of Nigeria (CBN) has announced the sale of dollars to Bureau De Change (BDC) operators at the rate of NI,590/$ to meet retail market demand.
CBN, in a circular signed by the Acting Director, Trade and Exchange Department, Dr. W.J. Kanya, approved the sale of $20,OOO.OO each to the eligible BDCs.
It directed all BDCs to sell to eligible end-users at a margin of not more than one percent (1%) above the purchase rate from CBN.
It also directed eligible BDCs interested in the transaction to make the Naira payment to the CBN deposit account numbers with them.
It said, payment confirmation and all necessary documentation for disbursement are to be submitted at the appropriate CBN branches in ABUJA, AWKA, KANO, and LAGOS for collection of the $20,OOO.OO.
