Regulatory Alerts2025-02-05 | TED/FEM/PUB/FPC/001/004Added · Updated
SALES OF FOREIGN EXCHANGE TO BDCs TO MEET RETAIL MARKET DEMAND FOR ELIGIBLE INVISIBLE TRANSACTIONS
The Trade and Exchange Department of the CBN issues a circular to authorized dealer banks and BDC operators, outlining guidelines for the sale of foreign exchange to BDCs to meet retail market demand for eligible invisible transactions. The guidelines include a weekly cap of USD 25,000 for BDC purchases from authorized dealers, a 1% margin on sales to end-users, and specified eligible transactions with a maximum disbursement of USD 5,000 per transaction. Non-compliance will result in sanctions, including suspension of dealership licenses.
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