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LequteMan
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The Central Bank of Nigeria has prohibited the selling of foreign exchange on Nigerian streets, The Cable reports.
Excerpt:
Street hawking of foreign exchange is no longer permissible, the Central Bank of Nigeria (CBN) has said in its latest circular which sets out new guidelines for the operations of bureaux de change (BDCs).
Street sale of foreign exchange by the so-called “mallams”, which is very common in Lagos, has endured for over three decades, surviving civilian and military.
The CBN did not outline how it will deal with hawkers but said from January 1, 2016, street trading of the dollar is “non-permissible” and will be severely punished by the bank.
Read more
Excerpt:
Street hawking of foreign exchange is no longer permissible, the Central Bank of Nigeria (CBN) has said in its latest circular which sets out new guidelines for the operations of bureaux de change (BDCs).
Street sale of foreign exchange by the so-called “mallams”, which is very common in Lagos, has endured for over three decades, surviving civilian and military.
The CBN did not outline how it will deal with hawkers but said from January 1, 2016, street trading of the dollar is “non-permissible” and will be severely punished by the bank.
Read more
