The Central Bank of Nigeria (CBN) has directed all commercial banks and Bureau de Changes (BDCs) to sell foreign exchange (Forex) to all eligible travelers over the counter, even if they are not their customer.
This is according to a statement titled “Sale of Forex to Travellers Over the Counter” on Sunday by the apex bank’s spokesperson Isaac Okoroafor which read:
“All Deposit Money Banks (DMBs) are mandated to buy and sell foreign exchange to travellers (both customers and non-customers) upon presentation of relevant, valid travel documents, such as visa and ticket OVER THE COUNTER.
“All travellers shall be attended to immediately at the banks’ counters. Any contravention shall be sanctioned by the CBN.
“All BDCs (bureaux) shall henceforth access Forex from the CBN on Mondays, Wednesdays and Fridays.
“It is compulsory that all BDCs access Forex at least three times weekly.
“Any BDC that fails to access the Forex window at least three times weekly shall have its licence reviewed by the CBN. Compliance is Compulsory.”
