Regulatory Alerts2018-11-29 | TED/FEM/FPC/GEN/01/005Added · Updated
Introduction of Special Intervention of Foreign Exchange Cash Sales to Bureau de Change Operators
The Central Bank of Nigeria announces a special intervention for foreign exchange cash sales to Bureau De Change Operators, offering USD15,000 per BDC on Thursdays starting December 6, 2018, in anticipation of increased demand during the yuletide season. BDCs are informed of a cut-off time for receiving Naira deposits, and operators are reminded to adhere to regulations regarding forex cash disbursement to customers, with infractions leading to sanctions. This measure aims to stabilize the forex market and ensure smooth operations during the holiday season.
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Topics
fx
monetary
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