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.
Read more about this topic: Central Bank Of Nigeria
Famous quotes containing the word private:
“The private life of one man shall be a more illustrious monarchy,—more formidable to its enemy, more sweet and serene in its influence to its friend, than any kingdom in history. For a man, rightly viewed, comprehendeth the particular natures of all men.”
—Ralph Waldo Emerson (1803–1882)