Qualified BDCs to get $20,000 from CBN at N1,580 Exchange Rate

The Central Bank of Nigeria (CBN), says it has approved $20,000  each for eligible Bureaux De Change (BDCs) at the Rate of N1,580 to a Dollar.

This is according to a Statement issued by Williams kanaya, the Acting Director, Trade and Exchange Department of the Apex Bank.

“This is to inform the BDC Operators and the General Public that we are providing more Liquidity into the Market.

“To this end, the CBN has approved the Sale of $20,000 to each eligible BDCs Operator at the Rate of N1, 580/Dollar. This is to meet the demand for Invisible Transactions.

“All 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 are directed to make the Naira payment to the CBN Deposit Account Numbers with them,” he said.

He said that payment confirmation and all necessary Documentation for disbursement are to be submitted at the appropriate CBN Branches in Abuja, Awka, Kano and Lagos for collection of the $20,000.

Credit NAN: Texts excluding Headline