The Central Bank of Nigeria (CBN) has denied the sales of foreign exchange (FX) to eligible bureau de change (BDC) operators at N1,301 per dollar.
has denied the sIn aAccording to the fake circular, all BDCs are allowed to sell to eligible end-users at a margin not more than 1 percent above the purchase rate from CBN.
“Following the on-going reforms in the foreign exchange market, aimed at achieving an appropriate market determined exchange rate for the Naira, the Central Bank of Nigeria has observed the continued price distortions at the retail end of the market, which is feeding into the parallel market and further widening the exchange rate premium,” the fake circular reads.
“All eligible BDCs are directed to make the Naira payment to the designated CBN Foreign Currency Deposit Naira Accounts and submit confirmation of payment, with other necessary documentations for disbursement at the appropriate CBN Branches ABUJA, AWKA, LAGOS and KANO)”However, the financial regulator said the information is misleading and not affiliated with the CBN.
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