Nigeria’s naira is experiencing a sharp loss to the dollar, a day after the Central Bank of Nigeria banned foreign exchange sales to Bureau De Change (BDC) operators in the country As of Wednesday, July 28, black market dealers were selling the naira at ₦522 per dollar, up from N505 to $1 on Tuesday, according […]
because the parallel market has become a conduit for illicit forex flows and graft.
Emefiele stated that commercial banks are mandated to immediately and transparently sell forex to customers who present the required documents, saying all banks are to immediately create dedicated tellers for the same purpose.
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