Following the economical crisis and level of hardship in the country, the Central Bank of Nigeria has issued $10,000 to each Bureau De Change operators informing them to sell at the rate of N1,251/$1.
It was reported in a statement signed by Dr Hassan Mahmud, the bank’s Director, Trade and Exchange Department, on Monday.
Bureau De Change were urged to sell the dollars to eligible customers at a rate not more than 1.5 percent above the price purchase, adding that each BDC is not expected to sell above N1,269/$1.
In February, the Central Bank of Nigeria declared its plans to sell foreign exchange worth $20,000 to each eligible Bureau De Change all nationwide.
From the news gathered, Godwin Emefiele, the former CBN governor, stopped the sales of foreign exchange to BDC operators in that segment of the forex market.
The document read, “We refer to our letter to you referenced TED/DIR/CON/GOM/001/071 in respect of the above subject wherein the CB approved a second tranche of sale of FX to eligible BDCs.
“We write to inform you of the sale of $10,000 to each BDC at the rate of N1,251/$1. The BDCs are to sell to eligible end users at a spread of not mora than 1.5 per cent above the purchase price.”
After a long time ban of CBN, this confirms a resumption of dollars sale to Bureau De Change operators in 2021.
