The Central Bank of Nigeria (CBN) has issued a circular announcing fresh sales of $10,000 to each licensed Bureau De Change (BDC) operator in the country at N1,021/$. The BDCs are directed, in turn, to sell to eligible end users at a spread of not more than 1.5 per cent above the purchase price, translating to a maximum selling price of N1,036.15 per dollar. This marks the second of such direct sales to BDCs this month and the fourth in the current year, indicating that the apex bank is proactive…
Read MoreCBN SELLS DOLLAR TO BDCS AT N1,021/$
