FX Liquidity: CBN gives additional $20,000 to eligible BDCs
The Central Bank of Nigeria says it has provided an additional 20,000 dollars each to eligible bureau de change at an exchange rate of N1,590.
This is to boost foreign exchange liquidity further.
Wiliam Kanaya, CBN’s acting director for Trade and Exchange Department, said this in a statement on Wednesday in Abuja.
Mr Kanaya said that said that the BDCs are allowed to sell to eligible end-users at a margin of not more than one per cent above the purchase from the CBN.
“Eligible BDCs interested in this transaction are directed to make the Naira payment the CBN deposit account numbers with them.
“Also, payment confirmation and all necessary documentation for disbursement are to be submitted at the appropriate CBN branches in Abuja, Awka, Kano, and Lagos,’’ he said.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Two killed including child in stampede as Gov Bago allegedly distributes cash in Government House
At least two people, including a child, have been killed in a stampede during an event involving Governor Umar Bago in Minna. Several others were injured.
Economy
Summit seeks more role for women in economic decisions, influence
The Executive Women’s Summit has called for a shift from gender representation to greater participation, influence and economic authority for women in corporate organisations.
Economy
Flutterwave CEO Olugbenga Agboola only Nigerian named on Top 100 Fintech Leaders 2026 list by Fintech Magazine
Under Agboola’s leadership, Flutterwave has continued to expand its role in Africa’s financial infrastructure.
Rights
NAPWPD wants persons with disabilities in leadership
The National Association of Persons with Physical Disability in Nigeria (NAPWPD) wants persons with disabilities to occupy leadership positions.
Economy
$700 billion Nigeria critical minerals deal with U.S. will deepen ties: Trump Admin
U.S. says its new $700 billion Critical Minerals Framework with Nigeria will deepen economic relations while unlocking investment opportunities in Nigeria’s vast mineral resources.
Economy
Expert says Tinubu govt fair to Cross River in development interventions
Alfred Essien, a Cross River-based development practitioner, said the federal government has supported the state through intervention projects.
