RegAlert

Rule · CBN · 19 Oct 2007 · TED-FEM-FPC-GEN-126-07

Mode of Cash Disbursement and Dress Code for the Representatives of Bureaux De Change Operators.

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This letter from the Central Bank of Nigeria introduces new guidelines for Bureau De Change (BDC) operators, effective October 29, 2007. Key changes include lodging cheques or drafts a day prior to trading sessions with CBN during specified hours on Mondays and Wednesdays. Additionally, all BDC representatives must dress in corporate suits or national attire when visiting the premises and carry identification cards. Any violators will be denied entry by security operatives.

NigeriaCentral Bank of Nigeria

09-61637804 09-61637802 E-mail address:ted@cenbank.org Central Bank of Nigeria Central Business District P.M.B. 0187 Garki, Abuja Our Ref: TED/FEM/FPC/GEN/01/128 October 19, 2007 To: ALL LICENSED BRUEAUX DE CHANGE OPERATORS AND AUTHORISED DEALERS MODE OF CASH DISBURSEMENT AND DRESS CODE FOR THE REPRESENTATIVES OF BUREAUX DE CHANGE OPERATORS As part of continued effort to improve service delivery to the Bureau De Change (BDC) operators, the following changes are hereby introduced with effect from Monday October 29, 2007.

  1. All BDCs are hereby required to lodge their cheques/drafts in respect of forex purchases on a day prior to the trading session (Mondays and Wednesdays) with CBN, while cash payment shall be done in batches to the respective BDC operators on the trading day.

  2. The lodgment of cheques/drafts with CBN shall be done between the hours of 8.00 am and 2.00 pm on Mondays and Wednesdays, respectively.

  3. All representatives of BDCS at the CBN shall dress in corporate suits or national attire and shall be properly identified.

  4. For the avoidance of doubt, the wearing of jeans, T-shirt and short pants by representatives of BDCs to CBN premises shall not be allowed. The Security Operatives of the Bank have been directed to henceforth disallow entry to CBN premises, any representative who is wrongly dressed and does not have identification card.

O. O. AKANJI (MRS) DIRECTOR TRADE & EXCHANGE DEPARTMENT

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Source: Central Bank of Nigeria — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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