CBN Battles To Save Naira, Increases Weekly Allocation Of BDCs To $50,000

The Central Bank of Nigeria, CBN, has raised its weekly allocation to Bureau de Change operators from $30,000 to $50,000 in a fresh move to stem the continued depreciation of the Naira against the dollar.

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CBN Governor MR Godwin Emefiele
CBN Governor MR Godwin Emefiele

Speaking after the Bankers’ Committee meeting in Abuja on Tuesday, United Bank for Africa MD, Mr Kennedy Uzoka, said the decision was to drive down the price of the dollar.

The decision was also made to ensure that people get enough to pay school fees as schools are about to reopen, and also because people who will be traveling at this period will require Basic Travel Allowance (BTA) and PTA, he said.

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Daniel Enisan is a content writer at With a degree in mass communication, Daniel is a full breed journalist. Daniel is a realist, loves the use of sarcasm, a movie and music junkie. He is also a poet and a good listener.

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