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The Central Bank of Nigeria, CBN, has provided Bureau De Change, BDCs, operators with $10,000 at an exchange rate of N1,251 per United States, US, dollar.<\/p>\n

This was revealed in a circular signed by Hassan Mahmud, the CBN Director of Trade and Exchange Department.<\/p>\n

The apex bank instructed the BDCs to offer dollars to qualified customers at a rate not more than 1.5 per cent above the buying price.<\/p>\n

This indicates that BDCs are advised not to sell above N1,269 for each $1.<\/p>\n

The circular reads partly: \u201cWe refer to our letter to you referenced TED\/DIR\/CON\/GOM\/001\/071 in respect of the above subject wherein the CB approved a second tranche of sale of FX to eligible BDCs.<\/p>\n

\u201cWe write to inform you of the sale of $10,000 to each BDC at the rate of N1,251\/$1. The BDCs are to sell to eligible end users at a spread of NOT MORE THAN 1.5 per cent above the purchase price.\u201d<\/p>\n

FX crisis: Don\u2019t sell above N1,269 per dollar \u2013 CBN orders BDCs<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Central Bank of Nigeria, CBN, has provided Bureau De Change, BDCs, operators with $10,000 at an exchange rate of…<\/p>\n","protected":false},"author":1,"featured_media":23881,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11107,4161,4274,15,761],"tags":[11110,519,63,764,180,762],"class_list":["post-23880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bdcs","category-business","category-cbn","category-news","category-top-headlines","tag-bdcs","tag-business","tag-cbn","tag-headlines","tag-news","tag-top"],"yoast_head":"\n