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 Supreme Council for Shari’ah in Nigeria (Oyo branch), on Tuesday, announced the indefinite postponement…
Simi Oluwaseyi, the sister of Queen Naomi, an estranged wife of Ooni of Ife, has…
President Nana Addo Dankwa Akufo-Addo has granted approval for visa-free entry to Ghana for all…
Former Kaduna Central Senator, Shehu Sani, has criticized President Bola Tinubu for his refusal to…
The International Police (INTERPOL) has issued a wanted list featuring 14 individuals from Nigeria who…
The All Progressives Congress (APC) has accused the Peoples Democratic Party (PDP) of politicising the recent stampedes…