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Headline : CBN Approves Sale Of Additional FX To BDCs At N1,021/$1 To Bolster Naira

Read more from the original article on here at www.arise.tv.




Tags : #cbn #approves #sale #additional #fx #bdcs #n10211 #bolster #naira


No. of Paragraph 24

The Central Bank of Nigeria (CBN) on Tuesday approved the sale of additional Foreign Exchange (FX) to eligible Bureau De Change (BDC) operators at N1,021 to the dollar – below the current market price. This was the fourth consecutive intervention since the apex bank resumed support for the segment under its current management.

Relatedly, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and Governor of Central Bank of Nigeria (CBN), Mr. Yemi Cardoso, would, on Wednesday lead discussions on strengthening the naira at a roundtable organised by the Abuja Chamber of Commerce and Industry (ACCI).

They would speak alongside Executive Chairman, Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, among other private sector players.

However, the latest liquidity intervention to BDCs was conveyed in a circular dated April 22, 2024, addressed to the President, Association of Bureau De Change Operators of Nigeria (ABCON), and signed by CBN Director, Trade and Exchange Department, Dr. Hassan Mahmud.

Read more from the original article on here at www.arise.tv.


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