The Central Bank of Nigeria (CBN) has reported that 935 eligible Bureau De Change (BDC) operators in the North West region are currently receiving foreign exchange (forex).
During the Kano Bankers Committee Dinner and Award event, Controller of CBN, Kano branch, Umar Ibrahim Biu, revealed this information. He emphasized that the sales of forex to eligible BDC operators in selected states, including Kano, had significantly contributed to stabilizing the value of the naira against the dollar.
Biu also shared that last year, Deposit Money Banks (DMBs) deposited a total of 91,983 boxes valued at N465 billion and withdrew 64,895 boxes amounting to N314 billion at both the CBN’s Kano branch and the Bankers’ Warehouse.
He highlighted an increase of N33.8 billion in total cash deposited and N134.1 billion in total cash withdrawn compared to the previous year’s transactions.
Biu urged everyone to handle the naira with care to help preserve its physical integrity.
