Forex, the Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change (BDC) operators, notifying them that each BDC has been allocated $10,000 at a rate of N1,251 per US dollar.
According to Nairametrics, the circular instructs each BDC to sell the allocated dollars to eligible customers at a maximum markup of 1.5% above the purchase price.
The circular states: “We refer to our previous correspondence referenced TED/DIR/CON/GOM/001/071 regarding the subject above, where the CBN approved a second tranche of foreign exchange (FX) sale to eligible BDCs.
Forex exchange
“We hereby notify you of the allocation of $10,000 to each BDC at the rate of N1,251 per US dollar. BDCs are required to sell to eligible end-users at a spread not exceeding 1.5% above the purchase price.”
Source: vanguard.ngÂ
