CBN debunks information on sales of FX to BDC operators

The Central Bank of Nigeria (CBN) has debunked reports that claimed it has approved the sale of foreign exchange to Bureau De Change (BDC) operators to meet retail demand for invisible transactions.

The purported directive that carries CBN letterhead alleged that the CBN authorised the sale of $20,000 to each BDC operator at a specific rate to address distortions in the parallel market.

CBN, however, in a short tweet on Tuesday, debunked the report and labelled it as “fake news” and “misleading.”

It was also noted that the information was not affiliated with the CBN.

“This information is misleading and not affiliated with the Central Bank of Nigeria,” CBN tweeted.
CBN, however, urged the public to be guided.