The Central Bank of Nigeria (CBN) has again offered for sale $10,000 to BDCs at N1101/$1. CBN in a letter to the President Association of Bureaux De Change Operators of Nigeria (ABCON) said that BDCs are in turn to sell to eligible end users at a spread of NOT MORE THAN 1.5 percent above the purchase price.
Dr. W.J. Kanya of the Trade & Exchange Department who signed the letter directed all eligible BDCs to commence payment of the Naira deposit to the design CBN Naira Deposit Account Numbers from Monday April 08, 2024, and submit confirmation of payment with other necessary documentation for disbursement at the appropriate CBN Branches.
He advised the BDCs to strongly continue to abide by the rules and conditions as stipulated in the bank’s earlier letters/circulars.
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