Nigeria’s apex bank stops sale of forex to BDC operators

CBN guidelines on disposal of non-permissible income

Nigeria’s apex bank, the Central Bank of Nigeria (CBN), has suspended the sale of foreign exchange to bureau de change (BDC) operators in the country.

The announcement was made on Tuesday by Godwin Emefiele, the Governor of the Central Bank of Nigeria in a communique issued after the month’s Monetary Policy Meeting.

He accused BDC operators of undermining the country’s foreign exchange policy.

The CBN governor also announced that all monetary policy parameters will remain the same.

Author: Greg