The Central Bank of Nigeria on Friday approved the allocation of $20,000.00 to each qualified Bureau de Change at an exchange rate of N1,580 per dollar.
This was contained in a press statement signed by acting Director Trade and Exchange Department W.J Kanya.
The statement added that the measure aims to address the demand for invisible transactions.
“All BDCs are permitted to sell to qualified end-users at a margin that does not exceed one per cent above the rate at which they purchase from the Central Bank of Nigeria (CBN),” the statement partly read.
