Once again, the Central Bank of Nigeria has affirmed its stance on selling dollars to Bureau De Change (BDC) operators at N1,101 per dollar, according to a circular dated April 8 published on its website.
Addressed to the president of the Association of Bureau De Change Operators of Nigeria (ABCON), the circular titled ‘Sales of FX to Meet Retail Market Demand For Eligible Invisible Transactions’ outlines the CBN’s plan to provide $10,000 to each BDC operator at the specified rate.
The apex bank further instructed operators to maintain a spread of no more than 1.5 percent above the CBN rate when selling the allocated dollars.
This decision follows the previous month’s sale, where the CBN sold $10,000 to each Bureau De Change operator at N1,251 per U.S. dollar.
