Nigeria bans sale of Forex To Bureau De Change operators

Godwin Emefiele, CBN Governor

Nigeria’s apex financial institution, The Central Bank has announced an end to the weekly allocation and sale of foreign exchange to Bureau De Change (BDC) operators in the country.

Godwin Emefiele - CBN Governor, made the announcement on Tuesday during a media briefing on the outcomes of the Monetary Policy Committee meeting held in Abuja, the nation’s capital.

The bank governor said the decision was reached after the bank observed the total disregard of its mandate of maintaining the country’s foreign exchange reserves while attempting to safeguard the value of the naira.

Godwin Emefiele, Central,Bank of Nigeria Governor

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