Bureau De Change Operators were excluded in the latest tranche of forex sales by the Central Bank of Nigeria to authorised dealers.
This was disclosed by the President of the Association of Bureau De Change Operators of Nigeria, Aminu Gwadebe, in an interview with The PUNCH.
He said only banks got the forex intervention.
Responding in a chat, the BDC president said, “No, it is their usual intervention at the NAFEM window which presently excludes the BDCs but only banks.”
The apex bank had commenced sales of forex worth $122.67m to 46 approved dealers as part of significant step to stabilize the foreign exchange market.
Authorised dealers include banks and BDC operators.
Last Friday, a statement signed by the CBN Director in charge of Financial Markets, Dr Omolara Duke, said the new release is part of the bank’s determination to promote stability and reduce market volatility in the foreign exchange market.
The apex bank had commenced sales of forex worth $122.67m to 46 approved dealers as part of significant step to stabilize the foreign exchange market.
Authorised dealers include banks and BDC operators.
Last Friday, a statement signed by the CBN Director in charge of Financial Markets, Dr Omolara Duke, said the new release is part of the bank’s determination to promote stability and reduce market volatility in the foreign exchange market.
The statement read in part, “The Central Bank of Nigeria has sold the sum of $122,671,000 to 46 authorised dealers in its determination to promote stability and reduce market volatility in the foreign exchange market.”
Last month, the President Association of Bureau De Change Operators of Nigeria, Aminu Gwadebe, said the apex bank had suspended supply to the BDCs since March and was moving towards a complete liberalisation of the foreign currency market, which would not require its intervention.
He said, “The BDC window has been suspended by the Central Bank of Nigeria since around March or so. The last time we were funded I think was around March.”