Commercial banks in the Federal Capital Territory (FCT) have set up teller points for foreign exchange (FX) transactions in their branches in compliance with the new regulation by the Central Bank of Nigeria (CBN).
This follows earlier messages sent by the banks to their customers at the weekend, informing them of the latest development and documents required for the FX transactions.
According to the News Agency of Nigeria (NAN), Fidelity Bank, Keystone Bank and Zenith Bank, all in the Central Area of Abuja, showed that they all had designated teller points for FX transactions.
Bank officials said the dollar was selling at an official rate of N412 and that each traveller was entitled to buy $4,000 per quarter for personal travels and $5,000 per quarter for business travels.
However, a BDC operator, simply identified as Goodness, said they were still observing the turn of events and how the new development might affect their business.
He said the CBN has only stopped selling directly to them, but they still buy from individuals and organisations who wish to sell their dollars.
“For now we are still watching. We have not noticed any changes, just that the CBN said they will not sell dollars to us anymore. I don’t know how it will affect the market. We are still selling and buying from people who want to sell,” Goodness said.
As at midday on Monday, the naira gained N3 at the black market to trade at N512 per dollar.
