Naira Continues To Fall In The Face Of BVN Requirement For Foreign Exchange.

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Due to the refusal of customers to submit their Bank Verification Numbers to the Bureau De Change for foreign exchange transactions, the naira has continued its fall against the dollar.
The development has led to the growth of the dollar, causing the naira to drop to 235 naira.
The Central Bank of Nigeria had made the use of BVN, mandatory for sale and purchase of foreign exchange by banks and Bureau De change on Nov. the 1st.
However, customers have refused the development for fears of possible exposure to attacks by fraudsters, which has led to the low patronage of the BDCS.

 

Posted on November, 9 2015

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