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This policy allows theCBNto sell a total of $10,000 to each eligible BDC, who in turn sell to end users with a maximum markup of 1.5% over the buying price in order to prevent price gouging and ensure that the benefits of the discounted rate are transferred to consumers needing foreign exchange for various personal transactions.
“ALL eligible BDCs are therefore directed to commence payment of the Naira deposit to the underlisted CBN Naira Deposit Account Numbers from today, Monday April 22, 2024, and submit confirmation of payment, with other necessary documentations, for disbursement of FX at the respective CBN Branches.” Naija Newsrecalls the CBN, in February 2024, announced the sale of $20,000 to each BDCS at the rate of N1,301/$..
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