Tuesday, 12 January 2016

Central Bank will no longer fund Bureau de Changes

                                                         CBN Governor- Godwim Emifiele


The Central Bank of Nigeria CBN says it will henceforth discontinue the sale of foreign exchange to Bureau de Changes in Nigeria


The Governor of the CBN, Mr Godwin Emefile at a media parley in Abuja, Nigeria’s capital stated that the BDCs would now have to source their foreign exchange from autonomous sources.

He stressed that the CBN would also monitor the BDCs to ensure that such currencies were not used for money laundering .

He also added that commercial banks could with immediate effect, begin to accept foreign currency from their customers, VON Report.

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