The Central Bank of Nigeria (CBN) has announced the sale of $20,000 to each eligible Bureau De Change (BDC) operator in the country at the rate of N1,590/$.
The central bank stated that the foreign exchange will offer “extra liquidity to this segment of the foreign exchange market” in a circular dated September 25, 2024, which was sent to all Bureau De Change operators.
W.J. Kanya, the acting director of CBN’s trade and exchange department, signed the circular.
“To this end, the CBN has approved the sale of $20,000 at the rate of N1,590/$ to each eligible BDC,” Kanya stated. This satisfies the need for invisible transactions.
