Private BDCs
Each licensed BDC was required, to open a Naira Current Account with an Authorized Dealer of its choice, for the purpose of buying forex. A Bureau-de-Change is allowed to purchase forex from the CBN through a presentation of the CBN cheque issued by their banks twice a week (Tuesdays and Thursdays).The Bureau-de-Change purchase equivalent amount of forex from the CBN up to a maximum limit of US$200,000.00 twice a week.
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Famous quotes containing the word private:
“Classical and romantic: private language of a family quarrel, a dead dispute over the distribution of emphasis between man and nature.”
—Cyril Connolly (1903–1974)