IN A SHIFT TO MARK THE RE-ENTRY OF BUREAU DE CHANGE (BDC) OPERATIONS IN THE NIGERIAN FOREIGN EXCHANGE MARKET, THE CENTRAL BANK OF NIGERIA (CBN) HAS UNVEILED A SERIES OF OPERATIONAL CHANGES FOR THE BUREAU DE CHANGE SEGMENT.

UNDER THE NEW FRAMEWORK, THE SPREAD ON BUYING AND SELLING BY BDC OPERATORS IS SET TO FALL WITHIN A PERMISSIBLE RANGE OF -2.5 PERCENT TO +2.5 PERCENT OF THE NIGERIAN FOREIGN EXCHANGE MARKET WINDOW’S WEIGHTED AVERAGE RATE FROM THE PREVIOUS DAY.