The Central Bank of Nigeria has announced its decision to sell US dollars to Bureau De Change operators. This information was revealed in a statement issued by Dr. W. J. Kanya, the Acting Director of the Trade and Exchange Department, on Friday.

 This latest move by the central bank follows a significant decline in the value of the Nigerian naira, which has fallen to approximately 1,670 naira per dollar in both the official and parallel markets.

The statement indicated, “We are enhancing liquidity in the market.

Consequently, the CBN has authorized the sale of US$20,000.00 to each qualified BDC at a rate of N1,580 per dollar to address the demand for invisible transactions.”

The bank further noted that BDCs are permitted to sell to eligible end-users with a margin not exceeding one percent above the CBN's purchase rate.

Eligible BDCs wishing to participate in this transaction are instructed to make their Naira payments to the CBN.