CBN To Resume Dollar Sales to BDCs Next Week

The Central Bank of Nigeria CBN is to resume dollar sales to Bureau De Change operators next week. CBN sales of dollar proceeds from International Money Transfer (IMT) operators which began in August 2016 were suspended December last year due to the festive holidays. Drop in crude oil prices from a high of about $100 dollars a barrel to current levels of about $55 dollars a barrel have led to foreign exchange shortages in almost all sectors of the economy.