All intending
travellers can now buy forex over the counter with the presentation of
passports and air tickets, the Central Bank of Nigeria (CBN) announced on
Saturday evening.
The
bank also ordered BDCs to access dollars every Monday, Wednesday and Friday
henceforth in a statement issued by its acting director of corporate
communications, Isaac Okorafor.
The
move, TheCable understands, is to checkmate the activities of speculators in
the forex market.
Okorafor
said in the statement: “In order to ensure that eligible travelers are able to
access foreign currency and make liquidity available in the market, the CBN
wishes to make the following releases:
“All
Deposit Money Banks are mandated to buy and sell foreign currency to travelers
( both customers and non customers) upon presentation of relevant valid travel
documents such as visa and tickets OVER THE COUNTER. All travelers shall be
attended to immediately at the bank’s counters. Any contravention will be
sanctioned by the CBN.
“All
BDCs shall henceforth Access dollars from the CBN on Monday’s , Wednesday s and
Fridays. It is compulsory that all BDCs Access Currency at least three times
weekly. Any BDC that fails to access the FX window at least three times weekly
shall have their license reviewed by the CBN. Compliance is Compulsory.”
The
naira has maintained some stability in the last one year after the central bank
liberalised the currency market.
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