The Central Bank of Nigeria has informed Bureau De Change operators that $10,000 are now available to each BDC at the special exchange rate of N1,251 per dollar.
In a circular issued to BDCs, the CBN stated that each BDC is authorized to purchase up to $10,000 at the special exchange rate of N1,251 per dollar. In addition, the CBN instructed BDCs to sell the dollars to eligible customers at a rate not exceeding 1.5% above the purchase price.
“We refer to our letter to you referenced TED/DIR/CON/GOM/001/071 in respect of the above subject wherein the CB approved a second tranche of sale of FX to eligible BDCs.
“We write to inform you of the sale of $10,000 to each BDC at the rate of N1,251/$1. The BDCs are to sell to eligible end users at a spread of NOT MORE THAN 1.5 per cent above the purchase price.” the circular reads