Central Bank of Nigeria (CBN) has authorised the sale of foreign exchange (FX) to qualified Bureau De Change (BDCs) to meet the demand for invisible transactions.
Gatekeepers News reports that each BDC will be allocated $20,000 at an exchange rate of N1,450 per US dollar, according to a circular signed by A. A Mahdi, Acting Director of Trade and Exchange at the CBN.
This move comes as the naira continues to face significant pressure, approaching the N1,600 per US dollar threshold.
This is a developing story…
