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How Does My Category Of Small Business Owner Get Forex From Banks - Business - Nairaland

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How Does My Category Of Small Business Owner Get Forex From Banks by shadeyinka(m): 4:55am On Aug 03, 2021
It's no news that the CBN has stopped their direct funding of Bureau de Change (BDC) for forex needs of the average Nigerian and they have also authorised the Nigerian Banks to sell forex to any Nigerian with LEGITIMATE FOREX REQUESTS. One of the circulars to the banks reads

"“Further to the Monetary Policy Committee (MPC) briefing of July 27, 2021, all Deposit Money Banks (DMBs) are hereby reminded to set up teller points at designated branches across the country to fulfil legitimate FX requests for Personal Travel Allowance, (PTA), Business Travel Allowance (BTA), tuition fees, medical payments, SMEs transactions, amongst others,” the circular reads."

All the so called legitimate needs seem to require some form of documentation to justify it
Now, my question is:
1. How can a small business owner who Buys from China through Aliexpress, Alibaba, 1688.com etc get legitimate forex from the Banks
2. How can forex be obtained for funding online business accounts for fundings trading accounts in FOREX

The $100 dollars per month limitation and the high BDC exchange rate for SMO like us is crippling.

Thanks
CC:
FOD, puskin, dominique, naijacutee

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