Nigeria's Central Bank lets BDCs buy up to $25,000 weekly in foreign exchange until Jan 30.

The Central Bank of Nigeria has granted Bureau de Change (BDC) operators temporary access to buy up to $25,000 weekly in foreign exchange from December 19 to January 30. This move aims to meet seasonal demand during the holiday period. BDCs can purchase from a single authorized dealer, provided they fully fund their accounts. Transactions must be reported to the CBN’s Trade and Exchange Department, and a maximum 1% spread is allowed on pricing to retail users. Personal and business travel allowances remain available through banks.

3 months ago
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