The Central Bank of Nigeria (CBN) has refuted reports that it has resumed the suspended weekly foreign exchange sales to Bureau De Change (BDC) operators.
Its Acting Director, Corporate Communications Department, Mrs. Hakama Sidi-Ali, through a statement titled ‘No Weekly FX Sales to Bureau De Change (BDC) Operators Yet’, faulted media reports claiming that it has resumed the weekly sales of forex to BDCs is false.
“The attention of the Central Bank of Nigeria (CBN) has been drawn to a story making rounds on Central Bank of Nigeria (CBN) purportedly resuming weekly sales (interventions) in the FX market through Bureau De Change (BDC) operators.”
It said the speculations are absolutely false and aim to trigger panic and uncertainty in the forex market which the CBN is working assiduously to stabilise.
According to CBN, it is determined to achieve smooth and effective implementation of its policy measures that will significantly enhance the regulatory framework of the BDCs towards achieving the desired stable forex market.
“By this statement, the CBN clarifies that its circular announcing the approved allocation of $20,000 to eligible BDCs is to enable them meet retail demand for eligible invisible transactions under stipulated guidelines.”
Sidi-Ali warned that the CBN will take exception to false reports with potentials of disrupting the economy.
