Nigeria Bans Street Foreign Exchange Trading � Cryptomode

Cryptomode_202425 May, 2024Business

On Thursday, the Naira fell across foreign exchange (FX) markets despite a 35.72 percent increase in dollar supply at the official market. As a result, the Central Bank of Nigeria took appropriate measures by halting all operations carried out by street foreign exchanges known as ?Bureau de Change.? According to the CBN Governor Olayemi Cardoso, street trading of foreign currencies will be prohibited and the government now has new rule for operators.