CBN sells Dollars to BDCs at N1,021/$

The Central Bank of Nigeria (CBN) has commenced fresh and direct sales of US dollars at N1,021 per dollar to Bureau De Change operators.

This was disclosed in a circular signed and released by CBN’s Director of Trade and Exchange Department Hassan Mahmud. It read; 

“We write to inform you of the sale of $10,000 by the Central Bank of Nigeria (CBN) to BDCs at the rate of N1,021/$1. The BDCs are in turn to sell to eligible end users at a spread of NOT MORE THAN 1.5 percent above the purchase price.

“ALL eligible BDCs are therefore directed to commence payment of the Naira deposit to the underlisted CBN Naira Deposit Account Numbers from today, Monday, April 22, 2024, and submit confirmation of payment, with other necessary documentations, for disbursement of FX at the respective CBN Branches.”