The Central Bank of Nigeria (CBN) has granted Bureau De Change companies temporary access to the Nigerian Foreign Exchange Market (NFEM) from December 19, 2024 to January 30, 2025 for the purchase of forex to a weekly cap of $25,000.
By this move, the CBN would be selling up to $37.675 million to the 1507 operational BDCs in the country on a weekly basis.
“BDC operators can purchase FX under this arrangement from only one Authorised Dealer of their choice and will be required to…
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