The Central Bank of Nigeria (CBN) wishes to notify Bureau De Change (BDC) operators and the general public that it will be enhancing liquidity within this segment of the foreign exchange market.
In line with this initiative, the CBN has authorized the sale of US$20,000 to each qualified BDC at the exchange rate of N1,590 per dollar. This measure aims to satisfy the demand for invisible transactions.
All BDCs are permitted to sell to eligible end-users with a markup of no more than one percent (1%) above the acquisition rate from the CBN.
BDCs that meet the eligibility criteria and wish to participate in this transaction are instructed to deposit the Naira payment into the CBN Deposit Account Numbers assigned to them. Furthermore, they must submit payment confirmation and all required documentation for disbursement at the designated CBN branches in Abuja, Awka, Kano, and Lagos to collect the US$20,000.
