2011-08-15 | TED.FEM.GEN.FPC.01.15

Foreign Exchange Cash Sales to Bureaux de Change (BDC's)

The Central Bank of Nigeria's Trade and Exchange Department announces a new policy effective August 24, 2011. Starting from that date, the bank will sell $100,000 per week to each Bureau De Change (BDC) operator without any prior notice or specific end date. BDCs are expected to ensure they maintain sufficient funds in their accounts in order to participate in this new sales market. They are also required to adhere to extant financial regulations and report their transactions accordingly.

Nigeria

Central Bank of Nigeria

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