• Wednesday, December 06, 2023
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Banks say ready to provide dollars as CBN stops BDCs

9’M 2021: Tier one banks generate N71.9bn from account maintenance charges

Nigerian deposit money banks on Thursday assured the public of their readiness to carry out the function of providing foreign exchange services to customers as directed by the Central Bank of Nigeria (CBN).

Herbert Wigwe, Group managing director/CEO of Access Bank disclosed this to journalists at a zoom meeting on Thursday.

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This followed a decision by the banks regulator on Tuesday after the Monetary Policy Committee (MPC) meeting to discontinue the sale of foreign exchange to the Bureau De Change (BDC) operators, a development that has led to significant drop in the value of the naira against the dollar.

The bank CEOs present at the meeting unanimously agreed that they have the infrastructure and the capacity to meet the legitimate foreign exchange demand of the end users.