The Central Bank of Nigeria (CBN) has refuted claims that it is selling foreign exchange to Bureau De Change (BDC) operators at N1,301 per dollar.
In a statement on X, the CBN clarified that the circular circulating online was not issued by the bank.
The false circular suggested that BDCs could sell foreign exchange to eligible customers at a margin of one percent above the CBN’s rate.
The CBN reiterated that this circular was misleading and confirmed it had no connection to the bank or its policies.
The bank also highlighted its ongoing efforts to reform the foreign exchange market in order to establish a market-determined exchange rate for the Nigerian Naira.
Previously, on September 6, the CBN had authorized the sale of dollars to BDCs at a rate of N1,580/$.
