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BDC: CBN mandates sellers above $10,000 to declare sources

The Central Bank of Nigeria (CBN) has mandated foreign exchange sellers to the Bureau de Change (BDC) of the equivalent of 10,000 dollars and above to declare their forex sources. Haruna Mustapha, Director, Financial Policy and Regulation Department of the CBN, said this in a revised regulatory framework to curtail excesses of BDCs and check uncertainty in the foreign exchange…