Home BUSINESS JUST IN: BDCs Get FX from CBN at N1,101/$

JUST IN: BDCs Get FX from CBN at N1,101/$

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The Central Bank of Nigeria has issued a circular to Bureau De Change operators informing them of the sale of $10,000 to each BDC at a rate of N1,101/$1.

 

This was contained in a post on the CBN X platform , on Monday, 8th April, 2024.

The apex bank directed each BDC to sell the dollars to eligible customers at a rate not exceeding 1.5 per cent above the purchase price, implying that each BDC is not expected to sell above N1,101/$1.

All eligible BDCs are therefore directed to commence payment of the Naira deposit to the underlisted CBN Naira Deposit Account Numbers from Today Monday April 05, 2024, and submit confirmation of payment with other necessary documentation for disbursement at the appropriate CBN Branches.

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