CBN to Inject $20,000 Per Bureau De Change at N1,590/$ to Boost Forex Supply

The Central Bank of Nigeria (CBN) has announced plans to sell $20,000 to each eligible Bureau De Change (BDC) at N1,590/$ in order to meet the demand for invisible transactions.

According to a circular signed by Dr W.J Kanya, Trade & Exchange Department, “All BDCs are allowed to sell to eligible end-users at a margin of not more than 1% above the purchase rate from CBN.”