Given the continued volatility of the naira against the US dollar in the foreign exchange market, the Central Bank of Nigeria is considering, among other new measures, the suspension of street transactions at currency exchange offices in Nigeria.
This Friday, the apex bank released draft revised regulatory and supervisory guidelines for the operation of currency exchanges in Nigeria.
The CBN intends to set the minimum amount per share for Tier 1 and Tier 2 BDC licenses atNGN2 billion and NGN500,000million respectively. This is a departure from the previous general license capital of N35 million per share.
OnFridaythisweek,the apex bank releasedrevised draft regulatory and supervisoryguidelines for theoperationofcurrencyexchangeoffices in Nigeria.
Although the CBN had announced multiple foreign exchange interventions in the past few months, the country’s foreign exchange crisis continued.
