The Nigerian Naira,on Monday, May 28, remained at the same rate against the United States of America Dollar at parallel segment of the Nigerian Foreign Exchange market.
The local currency closed at the rate of N366 against the greenback, same rate at which it closed black market trading last week.
Against the British Pound Sterling, the Naira exchanged at the rate of N498 and closed at the rate of N428 against the European Single Currency, Euro.
Meanwhile, the Central Bank of Nigeria, CBN, has made it mandatory for all the Bureau de Change (BDCs) operating in Nigeria to access Foreign Exchange from it thrice a week.
A statement from the CBN acting Director, Corporate Communications, Isaac Okorafor, on Sunday, May 27, indicated that the new directive would allow eligible travelers more access to foreign exchange and allow more liquidity to the market.
“All BDCs shall henceforth access forex from the CBN on Mondays, Wednesdays and Fridays. ”It is compulsory that all BDCs access forex at least three times weekly.
”Any BDC that fails to access the forex window at least three times weekly shall have its licence reviewed by the CBN,” Okorafor said.
Okorafor stated that the apex bank has also authorised all commercial banks to buy and sell foreign exchange to travelers whether they operate an account in the said bank or not.
