The Central Bank of Nigeria has declared that it has approved the sales of foreign exchange to qualified Bureau De Change to meet the demand for invisible transactions.
This was disclosed in a circular signed by the Acting Director of Trade and Exchange, A.A. Mahdi stating that the sum of $20,000 is to be sold to each BDC at the rate of N1,450/$1.
These sales come at a time when the naira is under persistent pressure and is slowly approaching the N1,600/$1 ceiling.
Detail later…
