The Central Bank of Nigeria (CBN) has officially denied allegations that it authorized the sale of foreign exchange to Bureau De Change (BDC) operators at a rate of N1,300 per dollar.
This denial comes in response to a fake circular dated December 10, which falsely claimed that the apex bank had sold $20,000 to each eligible BDC operator at this rate.
In a statement released on its official X account on Wednesday, the CBN categorically described the circular as "fake," emphasizing that no such transaction took place.
The bank's swift clarification aims to address the misinformation circulating within the financial markets.
The false claims emerged amidst ongoing fluctuations in the value of the Naira against the dollar. Recently, the Naira appreciated in the official market, closing at N1,525 per dollar, despite experiencing a depreciation to N1660 per dollar in the black market.
This appreciation is largely attributed to the CBN's introduction of the Electronic Foreign Exchange Matching System (EFEMS), designed to ensure transparent FX transactions.
The CBN's last known intervention in the black market occurred in September 2024, when it sold foreign exchange at N1590 per dollar to BDC operators.
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