The Central Bank of Nigeria (CBN) has discontinued the sale of foreign exchange to Bureau De Change (BDCs).
CBN Governor Godwin Emefiele revealed this in Abuja at end of the Monetary Policy Committee (MPC) meeting.
Other decisions taken by the CBN regarding Forex transactions include stoppage of issuance of new licenses for BDCs, which will also affect existing applications for BDC licenses.
The CBN vowed to channel “significant allocation for foreign exchange to banks to meet legitimate demands for Forex.
“All commercial banks have been ordered to create teller points in their branches to pay out Forex to customers without any hindrance so long as the customer presents the minimum requirements,” Emefiele stated.
Emefiele vowed the apex bank will deal ruthlessly with commercial banks found to be collaborating with foreign organisations.
Related posts:
CBN To Sell $ At N1101 To 1588 Bureau De Change Firms
Naira to appreciate further as CBN boosts forex sale
Bureau De Change operators appeal for inclusion in FX Policy
Niger suspends cattle markets, bans sale of fuel in jerrycans
CBN pumps $195m into forex market
CBN forex interventions hit $963m in August-Report
CBN pumps $337m, Chinese Yuan into FOREX market
ONSA, CBN partner to deal with forex speculators
