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Nairaland Forum / Nairaland / General / Business / CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ (21445 Views)
Naira Falls After CBN Stops Forex Sales To BDCs / Naira devaluation: BDCs get dollars at ₦393, sell for N494 / CBN Mandates IFIS To Increase Agent Network To 150,000 By 2020 (2) (3) (4)
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CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by UDOKABESTLUV(m): 12:09pm On Feb 28, 2024 |
The Central Bank of Nigeria (CBN) has taken a decisive step to bridge the gap in the official and unofficial exchange rate by stipulating that all Bureau De Changes (BDCs) are permitted to sell foreign exchange to end-users at a margin not exceeding one percent (1%) above their purchase rate from the CBN. Source: https://tribuneonlineng.com/cbn-mandates-bdcs-to-sell-us-dollars-at-n1314-01-us/ 13 Likes 1 Share
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Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by UDOKABESTLUV(m): 12:09pm On Feb 28, 2024 |
Latest Update Coming From CBN About Dollar 1 Like |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by RealLordZeus(m): 12:20pm On Feb 28, 2024 |
Oh was wondering why usd suddenly drop this morning... Pls keep it up This floating policy has caused more harm than intended so let's go back to the fixed regime pls 44 Likes 2 Shares |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Obviouslyblunt: 12:20pm On Feb 28, 2024 |
So no more naira floating then? 63 Likes 3 Shares |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Dialpad: 12:21pm On Feb 28, 2024 |
Not possible, these BDC cannot meet the demand of Nigeria based on the $20k weekly by CBN. So if I want to travel and I need $15000, where will I get the cash ? Will aboki sell the entire amount at government approved rate or how will it work. The people I pity most are those that hurriedly purchased between 1400 and 1800 with the hope that it will hit 2500. They didn't consider that the government will fight back. 70 Likes 5 Shares |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Caramia2020(m): 12:21pm On Feb 28, 2024 |
They won't make money again, let's wait n see. 6 Likes 1 Share |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by chriskosherbal(m): 12:21pm On Feb 28, 2024 |
The question is will they adhere to the directives. I think is better to peg per pertime than allow it to float 6 Likes 1 Share |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by AntiChristian: 12:21pm On Feb 28, 2024 |
Painful news for those who want Nigeria backwards so as to scorn others! ![]() From N1900 last week to N1314! You no go here anything but if it was vice versa....casala go don burst! PO and hin boys go don sing anthem on twitter! 50 Likes 8 Shares |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by bigdammyj: 12:21pm On Feb 28, 2024 |
Noted. 1 Like 1 Share |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Majesty7: 12:21pm On Feb 28, 2024 |
UDOKABESTLUV: The question is, why sell to them? Why creating an irrelevant market, if not for corruption? 16 Likes 2 Shares |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by StOla: 12:21pm On Feb 28, 2024 |
Good, but why not N800? That we still tolerate thousands of BDCs show me that CBN is yet to get serious. They are even still allowing Nigerians to buy up to $10,000 per year for education abroad with Nigerian earned funds? Any Nigerian public university has even charged up to $500 equivalent in Naira per year for tuition? Yet we say our academic institutions are dilapidated, but so eager to enable Nigerians freely move out money from our economy to aid academic infrastructure in foreign land. Is that not enough proof to stop subsiding tertiary education in Nigeria and charge like N4m to N5m per session for post graduate courses while charging N2m to N3m for undergraduate courses per year. Those who are brilliant but indigent would have scholarship schemes to exploit for their own tuition, while those who are not able to afford the fees and do not have the academic capacity to secure scholarship funding, can always take student loans and pay back over the initial 10years of their work career. We never ready to be wicked and patriotic in this country to move forward. 12 Likes 5 Shares |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Hezzyluv: 12:22pm On Feb 28, 2024 |
Shebi CBN go dey stand dey monitor thousands of BDC guys across the country to make sure they stand by the fixed price ![]() 9 Likes 1 Share |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by bouncin04(m): 12:22pm On Feb 28, 2024 |
If you want the reach the sky aim for the sun , if you know you know ![]() ![]() ![]() |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by SpecialAdviser(m): 12:22pm On Feb 28, 2024 |
Obviouslyblunt:The more you look the less you see 23 Likes 2 Shares
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Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Inspirer1: 12:22pm On Feb 28, 2024 |
Good one. Hoping it reflects on the prices of food items and other goods 5 Likes |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by meum: 12:22pm On Feb 28, 2024 |
I thought market forces were to decide the exchange rate? 6 Likes |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by HateBigots: 12:22pm On Feb 28, 2024 |
![]() AntiChristian: Shameless Zombie. What was dollar rate in 2014 before Tinubu/APC protested against Pres. Goodluck? Now you are celebrating N1,314. Hypocrite . 38 Likes 7 Shares
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Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Hollyharjii: 12:22pm On Feb 28, 2024 |
A VERY GOOD MOVE 2 Likes 2 Shares |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Noniblaq(m): 12:22pm On Feb 28, 2024 |
Good news for producers like us. See my topic/thread for locally made shirts. The quality is the best in the world 5 Likes 1 Share |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Praise202(m): 12:22pm On Feb 28, 2024 |
Naira floating gone ![]() 7 Likes |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Wisejohnson47(m): 12:23pm On Feb 28, 2024 |
Must you sell to them? 5 Likes |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Originality007: 12:24pm On Feb 28, 2024 |
This country tire me. which county for Middle east is the best for hustling 1 Like |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Newstory1: 12:24pm On Feb 28, 2024 |
Hmmn 1 Like |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Ola9ja23: 12:24pm On Feb 28, 2024 |
Good development The importer of containers are in danger They will cry foul now 46 Likes |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Shikena(m): 12:24pm On Feb 28, 2024 |
Excellent. We are not ready for unregulated market. 1 Like |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Coldspice: 12:24pm On Feb 28, 2024 |
Originality007: Iraq 3 Likes |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by wunmi590(m): 12:24pm On Feb 28, 2024 |
![]() I don't see this being visible at all, I still see people them hoarding dollar, and then sell at a higher rate to people who are in desperate needs of more dollar... I'm not sure this is realistic, most Nigerians are wicked from birth 6 Likes |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Dyfynezz12(m): 12:24pm On Feb 28, 2024 |
No wonder dollar was 1570 this morning I hope ppl that increased goods of 15000 to 2500 before will bring it down now that $ has come down 4 Likes |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by ivandragon: 12:24pm On Feb 28, 2024 |
Hope this works. The rate should be brought down to at least N250 to $1 before the government can be commended. Since the people in power today condemned N217 to $1 in 2014, they must ensure they bring it down to that level also. Not that it will be at N1200 to $1 and some clowns would start praising them for job weldone. 13 Likes 2 Shares |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by eliwa47(m): 12:24pm On Feb 28, 2024 |
Yeye dey smell ![]() |
Re: CBN Mandates BDCs To Sell US Dollars At N1,314.01/US$ by Newton1045: 12:24pm On Feb 28, 2024 |
Majesty7: I wonder. People shud go to bank bank and get dollar. Period!! 10 Likes 3 Shares |
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