BDCs: Banks shun CBN $50,000 sale directive

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Deposit Money Banks are yet to comply with the Central Bank of Nigeria (CBN) directive asking them to sell $50,000 from Diaspora remittances to Bureau De Change operators on weekly basis, the President, Association of Bureau De Change Operators of Nigeria, Aminu Gwadabe, has said.

The ABCON boss said in a statement that only 10 per cent of the BDCs from the Lagos market had accessed dollars from the DMBs since the CBN gave the directive about three weeks ago.

According to him, the banks that have been involved in the dollar sales so far include First Bank of Nigeria Limited, Ecobank Nigeria, Fidelity Bank Plc, United Bank for Africa Plc and Unity Bank Plc.

Others are Diamond Bank Plc, Zenith Bank Plc and Stanbic IBTC Bank. Gwadabe regretted that the BDCs in Port Harcourt, Kano, Abuja, Onitsha, Maiduguri, Benin and Enugu had yet to get dollars from the banks.

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