Fear Grips BDCs Over NNPC’s $3bn FX Intervention As Dollar Set To Crash Below N800

Bureau de change operators in Nigeria are jittery about the potential of the dollar to crash below N800 after the Nigerian National Petroleum Company Ltd sealed a $3bn crude oil deal with African Export-Import Bank to boost foreign exchange liquidity in the market.

The operators are also under pressure from the Central Bank of Nigeria which is threatening them with licence withdrawal, among others.