CBN to resume forex sales to bureaux de change on 31st August

The Central Bank of Nigeria (CBN) will restart sales of foreign exchange to bureau de change on 31^st August ahead of resumption of international flights, according to a circular from the apex bank, Reuters reported Thursday.

The Nigerian government had earlier in the day called off its planned recommencement of international flights originally timed for 29the August and announced a new date of 5^th September on the grounds of inadequate preparedness.

READ ALSO: CBN to resume forex sales as lockdown eases

In March, the CBN halted forex sales to retail currency bureaus shortly before a coronavirus-induced lockdown, to help shore up the naira after a devaluation round precipitated by steep fall in oil price, Nigeria’s main export and major foreign exchange earner.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now