BREAKING: Buhari Approves New Forex Policy

By Ikenga Chronicles March 27, 2017

President Muhamamdu Buhari through the Central Bank of Nigeria (CBN) on
Monday has approved new Forex rates.

The apex bank said Nigerians can now get the dollar at N360 across all
commercial banks within the country.

“The CBN [is] to sell forex to banks at N357/$1, while banks will sell to
their customers at N360/$1 for invisibles (BTA, medicals, fees, etc),” the
CBN said on Monday.

“CBN directs banks to post new rates in the banking halls of their branches
immediately. CBN examiners to visit banks to ensure the new rates are
implemented.

“CBN prohibits banks from selling forex funds meant for invisibles to BDCs”

More Later…

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