The Central Bank of Nigeria has announced the sale of dollars to Bureau De Change operators.
This was disclosed by the apex bank in a statement signed by the Acting Director of Trade and Exchange Department, Dr W. J Kanya, on Friday.
The latest intervention of the central bank comes days after the Nigerian naira has been taking a beating at both the official and parallel market where it has depreciated to about 1,670/$ on Friday.
The circular partly read, “This is to inform the Bureau De Change 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.”
The bank said the BDCs are allowed to sell to eligible end-users at a margin not more than one per cent above the purchase rate from CBN.
Eligible BDCs interested in this transaction were advised to make the Naira payment to the CBN.
The Federal Competition and Consumer Protection Commission (FCCPC) has summoned the Chief Executive Officer (CEO)…
The Pan-Yoruba socio-political organization, Afenifere, has thrown its weight behind calls for President Bola Tinubu…
Former President Goodluck Jonathan has raised concerns over ghost voters in Nigeria’s electoral process, asserting…
The Senate Ad-hoc Committee investigating the N30 trillion Ways and Means facility granted to the…
The National Industrial Court of Nigeria (NICN) has ordered the reinstatement of Olalekan Onafeko as…
An official of the Nigeria Labour Congress (NLC) has challenged the Senate President, Godswill Akpabio, over…