Categories: Business

CBN Stops Sales of Forex To Bureau De Change

The Central Bank of Nigeria (CBN) has stopped the sale of foreign exchange to Bureau De Change (BDC) operators.

Addressing reporters in Abuja on Monday, the Governor of CBN, Mr Godwin Emefiele, said the operators would now be left with the option of getting foreign exchange from autonomous sources.

He stated that the apex bank would monitor the trade operations of the BDCs to ensure they do not violate the Money Laundering Act

According to the CBN boss, commercial banks have also been authorised to accept cash deposits of foreign exchange from their customers.

 

Williams Osewezina

Disqus Comments Loading...

Recent Posts

Police Arrest Seven Suspected Bandits In Kebbi

The suspects were apprehended during intelligence-led operations conducted on June 5, 2026, targeting criminal networks…

7 hours ago

Train Derailment: NEMA Deploys Emergency Response Team To Delta

It said that its response team is collaborating with the NRC, security agencies, and other…

8 hours ago

[VIDEO] Tinubu Receives Madagascar President Randrianirina

Randrianirina met with Tinubu at the Presidential Villa, Abuja, on Monday during his visit to…

9 hours ago

Tinubu Swears In New Ministers

The two new ministers who were nominated by the President were cleared by the Senate…

10 hours ago

Senate To Begin Deliberations On State Police This Week

Senate Leader Opeyemi Bamidele described the current calls for a probe of the military as…

10 hours ago

Bandits Abduct 39 Residents On Reconciliation Mission In Zamfara

The Zamfara State Police Command confirmed the abduction, adding that a rescue operation has been…

11 hours ago