In a bid to enhance the efficiency of the Nigerian Foreign Exchange Market, the Central Bank of Nigeria (CBN) has unveiled a series of operational changes for the Bureau De Change (BDC) segment. The announcement, made on August 17, 2023, outlines key measures aimed at streamlining and improving the BDC operations. Under the new framework, the spread on buying and selling by BDC operators is set to fall within a permissible range of -2.5% to +2.5% of the Nigerian Foreign Exchange market window’s weighted average rate from the previous day. READ…
Read MoreCBN Reinstates BDC, Introduces New Operational Mechanism
