CBN Rolls Out Fresh Dollar Plan
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The Central Bank of Nigeria has approved the sale of up to $150,000 weekly to each Bureau De Change operator in a fresh effort to steady the foreign exchange market.
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
The decision was announced as pressure continues to mount on the naira.
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
The directive allows eligible BDCs to purchase foreign currency from authorised dealers at a set rate determined by the apex bank.
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The move is aimed at improving liquidity and easing demand in the retail end of the market.
Officials say the step is part of broader measures to manage volatility and close the gap between official and parallel market rates.
The bank expects operators to sell to end users at regulated margins.
Market watchers believe the intervention could offer short term relief, though concerns remain about long term supply and sustainability.
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