The Central Bank of Nigeria (CBN) has denied selling foreign exchange (FX) to Bureau de Change (BDC) operators at the rate of N1,001 per dollar.
In a post on X on Thursday, the CBN stated that a circular claiming the apex bank announced the sale of $10,000 to BDCs at the rate of N1,001/$1 was “fake”.
According to the circular, BDCs must sell to eligible end users at a margin of no more than 1.5 per cent above the buying cost.
The circular reads:
“We write to inform you of the sale of $10,000 by the Central Bank of Nigeria (CBN) to BDCs at the rate of N1001/$1.”
“The BDCs are in turn to sell to eligible end users at a spread of NOT MORE THAN 1.5 per cent above the purchase price.
“ALL eligible BDCs are therefore directed to commence payment of the Naira deposit to the underlisted CBN Naira Deposit Account Numbers from today Monday, April 17, 2024, and submit confirmation of payment with other necessary documentation for disbursement at the appropriate CBN branches.”
Denying the content, the CBN urged Nigerians to always visit its website for accurate information.
