The Central Bank of Nigeria (CBN) yesterday sold $20,000 to each of the licenced Bureaux de Change (BDCs).
In a statement, CBN Acting Director, Trade and Exchange Department, D.W Kanya, said the additional liquidity will be sold to BDCs at N1,590 to dollar.
He said: “To this end, the CBN has approved the sale of US$20,000.00 to each eligible BDC at the rate of N1,590/S. This is to meet the demand for invisible transactions.
All BDCs are allowed to sell to eligible end-users at a margin of NOT MORE THAN one percent (one per cent) above the purchase rate from CBN”.
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He explained that eligible BDCs interested in this transaction are directed to make the Naira payment to the CBN Deposit Account Numbers with them.
“Also payment confirmation and all necessary documentation for disbursement are to be submitted at the appropriate CBN Branches (ABUJA, AWKA, KANO and LAGOS) for collection of the US$20.000,00,” he said.
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