CBN opens in­ter­ven­tion win­dow for BDCs to ease yule­tide pres­sure

Business a.m. - - NEWS - Busi­ness a.m.

THE CEN TRAL BANK OF NIGE­RIA (CBN) will com­mence the sale of $15,000 to bureau de change be­tween now and end of De­cem­ber for them to meet up cus­tomers’ de­mand for for­eign ex­change dur­ing the yule­tide sea­son.

Specif­i­cally the spe­cial in­ter­ven­tion of for­eign ex­change cash sales to bureau de change houses which kicks off on Thurs­day, De­cem­ber 6 will hold ev­ery Thurs­day in ad­di­tion to the of­fi­cial three days (Mon- day, Wed­nes­day and Fri­day) ded­i­cated for such pur­pose.

Ac­cord­ing to the CBN, the ap­proach of the yule­tide and the re­sul­tant in­crease in de­mand for per­sonal/busi­ness travel al­lowance have ne­ces­si­tated the spe­cial for­eign ex­change sales to the BDCs.

The apex bank in a cir­cu­lar is­sued by the Trade and Ex­change de­part­ment urged all bureau de change houses to note that the cut-off time for re­ceiv­ing naira de­posits into their re­spec­tive bank ac­counts for the Thurs­day’s spe­cial in­ter­ven­tion shall be 10 o’clock in the morn­ing on the Thurs­day.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.