The Central Bank of Nigeria has once again started providing foreign exchange to Bureau de Change operators as a strategic step to increase liquidity and strengthen the naira against dishonest manipulators.
This information was contained in a communique released on Tuesday, signed by the Central Bank’s Director of Trade and Exchange Department, Hassan Mahmud.
According to this notice, the sum of $20,000 will be sold to each BDC at the rate of $1,301, while BDC operators are expected to sell to end-users at a margin of not more than 1%.
