2016-07-22 | TED/FEM/FPC/GEN/01/004

Sales of Foreign Currency Proceeds of International Money Transfers to Bureaux De Change Operators

The Central Bank of Nigeria issues a circular to authorized dealers and Bureau de Change Operators, directing them to sell foreign currency from inward money remittances to licensed BDCs. This measure aims to stabilize the exchange rate and promote participation in the foreign exchange market. The circular emphasizes the requirement for all International Money Transfer Operators to remit foreign currency to agent banks for disbursement and the need for authorized entities to submit daily and monthly returns on their operations to the CBN.

Nigeria

Central Bank of Nigeria

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