Lagos, April 23, 2024 – The Central Bank of Nigeria (CBN) has issued fresh directive to Bureau D’Change operators (BDCs) to sell US dollars at a discounted rate of N1,021 per dollar.
This is intended to crash the dollar exchange rate in view of the rising inflow of the dollars into the country.
The apex bank also planned to sell $15.88 million to 1,588 eligible BDCs.
At this rate, the BDCs would sell at not more than 1.5 per cent margin to the public, thus selling at N1,117.5/$1.
In a letter addressed to the president of the Association of Bureau De Change Operators of Nigeria, the CBN announced the sale of $10,000 to each BDC operator at an exchange rate of N1,101 per US dollar.
Aminu Gwadabe, the ABCON President, had earlier appealed for the reduction in the rate at which the CBN sells dollars to its members. (GBN)
