₦airaland Forum

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.

NwaNimo1:
https://punchng.com/cbn-sells-20000-to-bdcs-at-1580/

Gadafii:
Tinubu is a disaster, he makes Buhari looks like a maestro

santaclaws:
Under Buhari, Emefiele was even more reckless. Not like this one too has anything upstairs, but it has always been the trend.

They waste Forex on BDCs, most of which are owned by politicians and spend recklessly on Hajj pilgrimage, money that ends up in Saudi's economy. These are issues that government should not intervene in... I thought they said they wanted market forces to determine the value of FX? So why the parallel policies.

Gadafii:
don't quote me and type nonsense, make I no swear for your papa.

Nothing emefiele did that Buhari wasn't aware of, today he's the scape goat, while Dem malami and Buhari nephew are walking free, including the former minister of humanitarian affairs .


Once again, don't quote me to type nonsense

santaclaws:
You don dey swear for your papa for house already na, me sef go help you swear for am join 💀☠️🔪🪓

Try me, ozuor.