Why the CBN banned street trading of foreign currencies

  • The Central Bank of Nigeria has issued a directive to Bureaux de Change operators on street trading
  • The bank’s director of risk management, Blaise Ijebor, said street trading of foreign currencies is not allowed
  • He said the operators should be in offices where customers can go into and make transactions

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment, and the economy for over a decade.

The Central Bank of Nigeria (CBN) has banned street trading of foreign currencies by Bureau de Change (BDC) operators, citing the need to regulate the foreign exchange market properly.