CBN approves daily sales of $10,000 each to 1,588 BDCs
Omeiza Bilal
The Central Bank of Nigeria (CBN) has approved daily sales of $10,000 each to 1,588 eligible Bureau De Change operators.
In a letter addressed to the President, Association of Bureau De Change Operators (ABCON) and signed by Director, Trade and Exchange Department of the Bank W.J Kanya, Monday in Abuja, the sales will be at the rate of N1,101 to the dollar.
According to the letter, the BDC operators are expected to sell the dollars to eligible end users at a spread of not more than 1.5 per cent above the purchase price.
According to the regulator, “All BDCs are strongly advised to continue to abide by the rules and conditions as stipulated in our earlier circulars.’’
