Bureau De Change (BDC) operators have been unable to purchase dollars from commercial banks one week after the Central Bank of Nigeria (CBN) reopened the Nigerian Foreign Exchange Market (NFEM) to them.
Some operators attributed the development to what they described as stringent conditions contained in the circular issued by the apex bank to all BDCs and authorised dealers last week. The new guidelines, they said, have created operational bottlenecks that are slowing participation in the market.
Despite the challenges facing BDCs, the na
Bureau De Change (BDC) operators have been unable to purchase dollars from commercial banks one week after the Central Bank of Nigeria (CBN) reopened the Nigerian Foreign Exchange Market (NFEM) to them.
Some operators attributed the development to what they described as stringent conditions contained in the circular issued by the apex bank to all BDCs and authorised dealers last week. The new guidelines, they said, have created operational bottlenecks that are slowing participation in the market.
Despite the challenges facing BDCs, the na
