The Central Bank of Nigeria (CBN) has denied claims that it is selling foreign exchange (FX) to bureau de change (BDC) operators at a rate of N1,001 every $1.
The apex bank stated in a post on X on Thursday that a circular saying the apex bank announced the sale of $10,000 to BDCs at a rate of N1,001/$1 was “fake”.
According to the circular, BDCs must sell to qualifying end users at a margin of no more than 1.5 percent above the buying cost.
“We write to inform you of the sale of $10,000 by the Central Bank of Nigeria (CBN) to BDCs at the rate of N1001/$1,” the statement states.
“The BDCs are in turn to sell to eligible end users at a spread of NOT MORE THAN 1.5 percent above the purchase price.”ALL qualified BDCs are therefore ordered to begin paying the Naira deposit to the underlisted CBN Naira Deposit Account Numbers on Monday, April 17, 2024, and submit confirmation of payment along with other relevant documentation for payout at the respective offices.”
CBN
They advised Nigerians to always rely on its website for accurate information. On April 8, it announced that it offered FX to BDC operators at a cost of N1,101 per dollar.
Source: vanguardngr.com
