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Central Bank of Nigeria CBN has sold
ten thousand dollars to each Blow Day Change

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BBC in the country with instruction to
the currency retailers to resell the foreign currency

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to customers. Are the ate not
above one thousand, two hundred and sixty

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nine neyras per one dollar. This
was contained in the circular signed by the

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band’s Director Trail and Exchange Departments,
Doctor Hassan mahmoud On Munday. According to

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Punch newspaper, Alsasuayakonnelo had reported that
one of the major problems in Nigeria is

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that the government is apparently into foreign
currency business and as such it’s using its

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powers to push more Nigerian businesses to
buy or serce for dollars locally before the

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canpay for goods and services internationally or
transact with tel partners abroad. Almost all

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commercial banks in Nigeria may have abolished
to use or acceptance of the Neyro MasterCard

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for the purchase of goods or payments
services abroad. Years back, Nigerians to

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use their Naira master card to pay
for goods and services work over five thousand

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dollars abroad. The abolition of the
Nairamaster card for international transactions has forced many

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Nigerians to always run to black market
to purchase dollars to form their doublicidiary account,

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which is civili mandatory in Nigeria before
the countransa abroad. The higher demands

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of foreign currencies, especially dollars by
Nigerians in the black market gives the black

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market operators and speculators the opportunity to
always depreciate the naira, which in turn

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have made all food items and other
products in Nigeria to climb to a very

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high exhabitant crisis. The effect of
the foreign currency trading is currently creating a

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high level of established and hunger among
many residents in Nigeria and thus may also

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be responsible for the unabated rising in
security, especially keep labbing in the West

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Africa country. That aside, the
Central Bank of Nigeria CBM stanted in the

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circular addressed to borrow they Change operators
that do have provided HBDC with ten thousand

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dollars at an exchange rate of one
thousand, two hundred and fifty one mirs

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pir us dollar Borrow they Change operators
were also instructed to offer dollars to qualified

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customers at a rate that does not
surpass one point five percent above the buying

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price. This indicates that Bureau they
Change operators are advised not to sell above

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one thousand, two hundred and sixty
nine mirrors for each one dollar. We

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refer to our letter to you reference
ted dr con g O M zero zero

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one all seven one in respect of
the above subject, wherein the CB approved

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a circumtrange of cell of FX to
eligible b dcs. We write to inform

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you of the cell of ten thousand
dollars to each b DC at the rate

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of one thousand, two hundred and
fifty one Nayra’s pel one dollar. The

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buildingses are to sell to eligible and
users at a spread of not more than

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one point five percent above the purchase
price. The CID and circular rates include.

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It would be recalled that the cily
And had in February announced plans to

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sell twenty thousand dollars to each below
they Change operator in the country as part

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of majors to control and address the
then depreciating Nayra. The cimb And decision

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to sell dollars directly to bulaw they
Change is coming more than two years after

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the former Civy and Governor Godwin Mfla
stop the cells of foreign exchange to b

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DC operators. In twenty twenty one, read Day the need in a more regal way