Regulatory Alerts2012-07-04 | TED.FEM.FPC.GEN.01.017.2012Foreign Exchange Cash Sales to Licensed Bureax de Change by the CBN
The Central Bank of Nigeria has revised the maximum amount of weekly foreign exchange cash sales to licensed Bureau De Change (BDCs) to $50,000 per week, effective Monday, July 9th, 2012. This supersedes the previous circular dated March 15, 2012. All authorized dealers and BDC operators must adhere to these changes.
CENTRAL BANK OF NIGERIA Corporate Head Office Central Business District P.M.B. 0187, Garki, Abuja, FCT TRADE & EXCHANGE DEPARTMENT Tel .
09 46237802 Fax : ...........
E-mail address:ted@cbn.gov.nq TED/FEM/FPC/GEN/01/017 July 04, 2012 TO: ALL AUTHORISED DEALERS AND ALL BDC OPERATORS FOREIGN EXCHANGE CASH SALES TO LICENSED BUREAUX DE CHANGE BY THE CBN This is to inform all Authorized Dealers and BDCs that the amount of weekly foreign exchange sales to BDCs has been reviewed.
Consequently, the maximum amount of foreign exchange cash sales to each BDC per week shall be US$50,000.00 (Fifty Thousand United States Dollars) with effect from Monday July 09, 2012. This circular supersedes the one Ref No: TED/FEM/FPC/GEN/01/07 dated March 15, 2012 on the subject. Please ensure compliance accordingly.
ADE & EXCHANGE DEPARTMENT