{"id":47498,"date":"2021-07-28T17:03:17","date_gmt":"2021-07-28T16:03:17","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/cbn-ends-forex-sales-to-bureau-de-change-operators"},"modified":"2021-07-28T17:45:29","modified_gmt":"2021-07-28T16:45:29","slug":"cbn-ends-forex-sales-to-bureau-de-change-operators","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-ends-forex-sales-to-bureau-de-change-operators","title":{"rendered":"CBN ends forex sales to Bureau De Change operators"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong><a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a> &#8211; <a href=\"https:\/\/www.africa-press.net\/nigeria\">Nigeria<\/a>. <\/strong><\/span>The Central Bank of Nigeria has stopped the sales of forex to the Bureau De Change operators in the country with immediate effect.<\/p>\n<p>The CBN Governor, Godwin Emefiele, disclosed this after the Monetary Policy Committee\u2019s two-day meeting in Abuja on Tuesday.<\/p>\n<p>He, however, stated that the MPC also retained the Monetary Policy Rate at 11.5 percent at the end of the meeting.<\/p>\n<p>According to him, the Cash Reserve Ratio and Liquidity Ratio at 27.5 percent and 30 percent respectively were also retained.<\/p>\n<p>\u201cThe MPC made the decision to hold all parameters constant. The committee thought by unanimous vote to retain the Monetary Policy Rate at 11.5 percent.<\/p>\n<p>\u201cIn summary, MPC voted as follows, one, retain MPR at 11.5 percent; retain the asymmetric corridor of +100\/-700 basis points around the MPR; retain the CRR at 27.5 percent, and retain the Liquidity Ratio at 30 percent,\u201d he said.<\/p>\n<p>On the decision to stop forex sales to the BDCs, Emefiele said the BDCs had defeated their purpose of existence to provide forex to retail users, but instead, they had become wholesale and illegal dealers.<\/p>\n<p>\u201dWe observed that the BDCs have continued to make huge profits while Nigerians suffered in pain.<\/p>\n<p>\u201dThe commercial banks would be monitored to provide forex for the legitimate use of Nigerians.<\/p>\n<p>\u201cThe Central Bank will henceforth discontinue the sale of forex to Bureau de Change operators,\u201d Emefiele added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Central Bank of Nigeria has stopped the sales of forex to the Bureau De Change operators in the country with immediate effect. The CBN Governor, Godwin Emefiele, disclosed this after the Monetary Policy Committee\u2019s two-day meeting in Abuja on Tuesday. He, however, stated that the MPC also retained the Monetary Policy [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":47497,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,28,26],"tags":[1570,2140,1578,4952,503,254],"class_list":["post-47498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-nigeria-2","tag-breaking","tag-bureau-de-change","tag-cbn","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CBN ends forex sales to Bureau De Change operators - Nigeria<\/title>\n<meta name=\"description\" content=\"The Central Bank of Nigeria has stopped the sales of forex to the Bureau De Change operators in the country with immedia ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-ends-forex-sales-to-bureau-de-change-operators\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN ends forex sales to Bureau De Change operators\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria has stopped the sales of forex to the Bureau De Change operators in the country with immedia ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-ends-forex-sales-to-bureau-de-change-operators\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-28T16:03:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-28T16:45:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/07\/img-6101898d05077.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-ends-forex-sales-to-bureau-de-change-operators#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-ends-forex-sales-to-bureau-de-change-operators\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CBN ends forex sales to Bureau De Change operators\",\"datePublished\":\"2021-07-28T16:03:17+00:00\",\"dateModified\":\"2021-07-28T16:45:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-ends-forex-sales-to-bureau-de-change-operators\"},\"wordCount\":235,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-ends-forex-sales-to-bureau-de-change-operators#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/07\/img-6101898d05077.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"breaking\",\"Bureau De Change\",\"CBN\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-ends-forex-sales-to-bureau-de-change-operators#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-ends-forex-sales-to-bureau-de-change-operators\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-ends-forex-sales-to-bureau-de-change-operators\",\"name\":\"CBN ends forex sales to Bureau De Change operators - 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