CBN Approves Dollars Allocation to Qualified Bureau de Change at a Particular Exchange Rate…see details

The Central Bank of Nigeria (CBN) led by Dr. Olayemi Cardoso has currently approved the allocation of $20,000.00 to each qualified Bureau de Change at an exchange rate of N1,580 per dollar.

It was revealed as a measure which aims at addressing the demand for invisible transactions.

This also implies that all BDCs are permitted to sell to qualified end-users at a margin that does not exceed one percent (1%) above the rate at which they purchase from the Central Bank of Nigeria (CBN).

…see attached to clear your doubt👇