Business News

CBN Directs BDCs to Sell FX Within 2.5% of I&E Rates

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has announced additional guidelines for Bureau De Change (BDC) operators in a bid to improve the efficiency of the Nigerian foreign exchange market. The decision comes two years after the apex bank banned the sale of dollars to BDCs amid efforts to stabilize the market. However, the latest directive does not state that the central bank will resume the sale of Dollars to the BDCs. Recall that in August 2021, the apex bank under, Mr Godwin Emefiele, who is now under suspension, ended the sale of forex to BDCs in the

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