The Central Bank of Nigeria resumed foreign exchange sales in April ending to commercial banks, to be made accessible to customers wishing to pay school fees, and businesses making essential imports needed to revamp economic activities across the country.
The continued ban placed on flights in the country by the Federal Government had further affected access to forex by Bureau de Change operators, but the regulator had assured them forex would be extended to them when flights resume. He said, “Speculators are taking advantage of the fact that the major source of foreign currency liquidity is now foreign debt not petro dollars.
He added, “The parallel market rate has jumped to N452/$ today and the trajectory, going forward, is worrisome and disturbing except the BDCs are returned to essential services.”
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