05/08/ · The Central Bank of Nigeria (CBN) said the ban of sale of foreign exchange to the Bureau de Change (BDC) operator was necessary because most of them have become conduit for illicit forex flows and 27/07/ · Nigeria CBN bans forex sales to BDCs in new policy July 27, CBN says it has terminated the sale of foreign currencies to Bureau De Change (BDC) operators because parallel market has become channels for illicit forex and fraud and henceforth orders ONLY commercial banks to 01/08/ · The latest Central Bank of Nigeria’s (CBN) decision to stop the sale of FOREX to Bureau De Change (BDC) operators due to the reported abuses that have characterized their transactions since the Estimated Reading Time: 7 mins
What CBN’s ban on sale of forex to BDCs means for the Naira – Nairametrics
CBN says it has terminated the sale of foreign currencies to Bureau De Change BDC operators because parallel market has become channels for illicit forex and fraud and henceforth orders ONLY commercial banks to sell foreign currencies in Nigeria. IT News Nigeria :. The Governor of Central Bank of Nigeria CBNMr. Godwin Emefiele has announced that the weekly sales of foreign exchange by cbn on new forex policy nigeria regulator will henceforth go directly to commercial banks.
Emefiele said Tuesday in a live TV broadcast, adding that the CBN will also no longer process applications for BDC licences in the country. CBN accused international bodies, including some embassies and donor agencies, of aiding illegal forex transactions that have hindered the flow of foreign exchange into the country.
All banks are to immeidtaely create dedicated tellers for the same purpose. Cusromers not attended to by the banks are to report to the CBN through a toll free number: 22 55 or email: cbd cbn, cbn on new forex policy nigeria. Your email address will not be published.
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Face Off: Is The CBN Forex Policy Good Or Bad For The Nation -- Pt 1
, time: 13:02In major policy shift, CBN cancels N trillion forex sales to BDCs | Dailytrust
18/09/ · The Central Bank of Nigeria has hit at the Bureau De Change (BDC) for illegal forex trading and will henceforth discontinue the sale of forex to the Bureau operators in Nigeria. The governor of the CBN, Godwin Emefiele made this known while addressing the press 28/07/ · The th monetary policy meeting which was held on 27th July concluded with the Central Bank of Nigeria taking an aggressive stance to discontinue the supply of FX to Bureau De Change operators (BDCs) in order to clampdown on what Godwin Emefiele (CBN Governor) termed illegal activities being perpetrated by BDCs when foreign exchange is supplied to them 15/06/ · The Central Bank of Nigeria (CBN) has officially announced a new foreign exchange policy and has listed some implications of new development. The implication of this is that the Nigerian currency has been floated and that there will be a single market for acquisition of the foreign currency. Godwin Emefiele, the CBN governor, made this announcement Estimated Reading Time: 2 mins
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