Regulatory Alerts2012-03-16 | TED.FEM.FPC.GEN.01.007.2012Foreign Exchange Cash Sales to Licenced BDCs By the CBN
The Trade and Exchange Department of the Central Bank of Nigeria announces that as of March 18, 2012, the amount of foreign exchange cash to be sold to licensed Bureaux de Change (BDCs) is set at USD75,000 per week per BDC. This supersedes the previous circular dated August 15, 2011. The department expects full compliance with this new policy.
TRADE & EXCHANGE DEPARTMENT Tel: .................
09 46237804 Fax : .....................
09 46237802 E-mail address:ted@cenbank.orq TED/FEM/FPC/GEN/01/007 March 15, 2012 ALL AUTHORISED DEALERS, TO: ALL BDC OPERATORS AND THE GENERAL PUBLIC FOREIGN EXCHANGE CASH SALES TO LICENCED BDCs BY THE CBN This is to inform all Authorised Dealers, BDC Operators and the General Public that effective from the week starting March 18, 2012 the amount of foreign exchange cash to be sold to BDCs by the Central Bank of Nigeria shall be USD75,000.00 (Seventy five thousand US dollars only) per week per BDC.
This Circular supersedes the earlier one referenced TED/FEM/FPC/GEN/01/015 dated August 15, 2011 on the same subject.
Please ensure compliance, accordingly.
BATARI MUSA DIRECTOR TRADE AND EXCHANGE DEPARTMENT