Thursday, August 27, 07:02
PM / by CBN/ Header Image Credit: BusinessDay
As part of efforts to enhance accessibility to foreign
exchange particularly to travelers following the announcement of the limited
resumption of international flights by the Honourable Minister of Aviation
commencing with Abuja and Lagos, the Central Bank of Nigeria hereby wishes to
inform the General Public that gradual sales of foreign exchange to licensed
BDC operators will commence with effect from August 31, 2020.
Consequently, purchase of foreign exchange by BDCs
shall be on Mondays, and Wednesdays in the first instance. The BDCs are to
ensure that their accounts with the banks are duly funded with the equivalent
Naira proceeds on Fridays and Tuesdays accordingly.
Meanwhile, Authorised Dealers (deposit money banks)
shall continue to sell foreign currencies for travel related invisible
transactions to customers and non- customers over the counter upon presentation
of relevant travel documents (passport, Air ticket & Visa).
All Authorised Dealers and Bureau De Change Operators
are hereby advised to ensure strict compliance with the provisions of the
extant regulations on the disbursement of foreign exchange cash to travellers,
as any case of infraction will be appropriately sanctioned.
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