Abuja, Sept. 7, 2024 -The Central Bank of Nigeria (CBN) has approved $20,000 for sale to each of the Bureau De Change operators at a rate of N1,580 to the dollar.
The bank disclosed this in a circular to all Bureau De Change operators in Nigeria and the general public on Friday.
The circular, signed by the CBN Acting Director of Trade and Exchange, W. A. Kanya, the CBN directed the BDCs to sell the dollars to eligible customers at a rate not exceeding one per cent above the purchase price.
“This is to inform the Bureau De Change (BDC) Operators and the general public that we are providing more liquidity into the market.
“To this end, the CBN has approved the sale of US$20,000.00 to each eligible BDC at the rate of N1,580/$. This is to meet the demand for invisible transactions.
“All BDCs are allowed to sell to eligible end-users at a margin NOT MORE THAN one per cent (1%) above the purchase rate from CBN,” the statement said. (GBN)
