The Central Bank of Nigeria (CBN) has approved daily sales of 10,000 dollars to 1,588 eligible Bureau De Change operators at the rate of N1,101 to the dollar.
The Director, Trade and Exchange Department of the CBN, W.J Kanya said this in a letter addressed to the President, Association of Bureau De Change Operators (ABCON) on Monday in Abuja.
According to the letter, the BDC operators are expected to sell the dollars to eligible end users at a spread of not more than 1.5 per cent above the purchase price.
It directed all eligible BDCs to effect payment of the Naira deposit at CBN Naira deposit account from Monday.
“All BDCs are strongly advised to continue to abide by the rules and conditions as stipulated in our earlier circulars,’’ it said.