• CBN orders fund transfer operators to sell forex to BDCs

    CBN orders fund transfer operators to sell forex to BDCs

    AS past of efforts to ensure the stability of the naira exchange rate and to encourage all criti­cal stakeholders to participate in the foreign exchange market, the Central Bank of Nigeria (CBN), yesterday directed authorised dealers who are agents to approved international money transfer operators, to sell foreign currency accru­ing from inward money remittances to licensed bureau de change operators in the country.

    The bank in a circular referenced, TED/FEM/ FPC/GEN/01/004, dated July 22, 2016, and signed by Acting Director, Trade […]