BEVERLY HILLS, March 30, (THEWILL) – In continuation of its determination to sustain liquidity in the foreign exchange market, the Central Bank of Nigeria (CBN)Thursday announced that it commence twice-weekly forex sales to Bureau de Change (BDCs) from Monday, April 3, 2017.
The move confirms THEWILL’s Tuesday exclusive report on the increase.
The apex bank in a statement by spokesman, Isaac Okorafor, said, “Licensed BDC operators are therefore required to fund their accounts with the CBN on Mondays and Wednesdays, while they receive their purchases on Tuesdays and Thursdays respectively.
“The sale amount to BDCs is hereby increased to $10,000 weekly ($5,000 per bid) and a new rate will be announced onMonday, April 3, 2017.”
