The Central Bank of Nigeria (CBN)
will resume sales of dollar proceeds of international money transfer (IMT) to
bureaux de change (BDCs) operators this week even as manufacturers kick against
the move.
Investigations revealed that the CBN
governor, Mr. Godwin Emefiele, disclosed this during a meeting with executives
of the Association of Bureaux De Change Operators of Nigeria (ABCON).
The apex bank commenced the
sale of dollar proceeds of IMT to BDCs in August, 2016 as part of measures to
stem the depreciation of the Naira in the parallel market. However, the sale
was suspended in December 2016, due to the Christmas and New Year holidays.
ABCON President Aminu Gwadabe said
on its part, the association will introduce full automation of BDC operations
in Nigeria, adding that about 2000 BDCs have already been enrolled in the
online platform established for that purpose.
Gwadabe said the measures were aimed
at boosting confidence in the foreign exchange market and encourage Nigerians
in diaspora to send their dollars through the official market.
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