The Central Bank of Nigeria , on Thursday, announced that it will resume the gradual sale of foreign exchange to licensed Bureau De Change operators.
“As part of efforts to enhance accessibility to foreign exchange particularly to travelers following the announcement of the limited resumption of international flights by the Honourable Minister of Aviation commencing with Abuja and Lagos, the Central Bank of Nigeria hereby wishes to inform the General Public that gradual sales of foreign exchange to licensed BDC operators will commence with effect from September 07, 2020,” the circular said.
“Meanwhile, Authorised Dealers shall continue to sell foreign currencies for travel related invisible transactions to customers and noncustomers over the counter upon presentation of relevant travel documents ,” Mr Nnaji said. This was after the apex bank announced that dollar be sold by BDCs to end-users at N380 to a dollar from the initial N360 to a dollar.
According to the CBN, IMTSOs to banks will be at N376 per dollar, banks to CBN N377 per dollar, CBN to Bureau de change operators N378 per dollar, BDCs to end-users should not be more than N380 per dollar and the volume of sales for each market is $20 thousand per BDC.