The Central Bank of Nigeria (CBN) has disclosed its initiative to allocate funds to Bureau de Change (BDC) operators.
As outlined in an official statement released by Dr. W.J. Kanya and made available on the central bank’s website, the CBN will facilitate the sale of $10,000 to each BDC at a rate of N1101 per US dollar.
Additionally, the directive specifies that BDCs must adhere to a margin not exceeding 1.5 percent above the CBN’s designated rate when conducting transactions. The CBN emphasizes the importance of strict compliance with the prescribed regulations and guidelines for all BDC operators.
