2011-08-12 | TED.FEM.GEN.FPC.01.012

Foreign Exchange Cash Sales to Bureaux de Change (BDCs) by Banks

The Central Bank of Nigeria has approved a maximum of USD 1 million per week for authorized dealers (ADs) to sell to Bureaux De Change (BDCs) from autonomous funds, and each BDC can only purchase foreign exchange from one AD per week. Any contravention will attract sanctions in accordance with the relevant provisions of the Banking and Other Financial Institutions Act (BOFIA). This circular replaces an earlier one dated 28th July, 2011.

Nigeria

Central Bank of Nigeria

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