CBN issues operational guidelines for BDCs’ forex purchases from banks, introduces tracking portal
The apex bank said every licensed BDC is free to purchase foreign exchange from any authorised dealer bank of its choice, stressing that banks must not impose exclusivity arrangements or referral fees.
In a circular addressed to authorised dealer banks and licensed BDC operators on Thursday, the apex bank said the guidance follows its 10 February circular, which granted BDCs access to foreign exchange from the NFEM through authorised dealer banks of their choice.
The Central Bank of Nigeria (CBN) has issued detailed operational guidelines for Bureau De Change (BDC) operators to purchase foreign exchange from authorised dealer banks through the Nigerian Foreign Exchange Market (NFEM).
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