Yemisi Izuora
The Central Bank of Nigeria (CBN) has auctioned 250 million dollars to 3147 registered Bureau De Change (BDCs) across the country, a move which the president of the Association of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, said would impact positively on the naira exchange rate and also boost liquidity in the market.
Gwadabe therefore appealed to Nigerians with legitimate needs for foreign exchange to visit any CBN registered BDC to purchase dollars with relevant documents at N399 to the dollar.
He referred those who require information with regard to addresses of all the BDCs to visit the official CBN Website, adding that members of the public should report any member selling above the regulated price to the appropriate authorities.
The naira has depreciated significantly since the CBN closed its doors to sale of the foreign currency in December.
The naira, which was exchanged at N493 to the dollar at the beginning of the year, has depreciated to N497 to the dollar in the parallel market.
With the resumption of sale to BDcs, traders and stakeholders are optimistic that naira may as well be on path of recovery.