CBN bans sales of dollars to Bureau De Change operators

Tobi Adebayo
The Central Bank of Nigeria has announced the ban of dollar sales to Bureau De Change operators.

CBN Governor, Godwin Emefiele made the announcement during a press briefing after the Monetary Policy Committee two-day meeting in Abuja on Tuesday.

Emefiele also announced that the apex bank would no longer issue new licenses to BDC operators, adding that over 500 new applications are received daily from intending operators.

He stated further that banks have been ordered to sell FX to customers.

Breaking: CBN retains Monetary Policy Rate at 11.5%

The MPC also retained the Monetary Policy Rate at 11.5 per cent at the end of the meeting

“The MPC made the decision to hold all parameters constant. The committee thought by unanimous vote to retain the Monetary Policy Rate at 11.5 per cent.

“In summary, MPC voted as follows, one, retain MPR at 11.5 per cent; retain the asymmetric corridor of +100/-700 basis points around the MPR; retain the CRR at 27.5 per cent; and retain the Liquidity Ratio at 30 per cent.,” he said.