In its effort to protecting the Naira, the Central Bank of Nigeria, CBN, has on Tuesday in Abuja, banned the importation of all foreign currencies except with approval. This was contained in a statement signed by CBN' Director of Corporate Communications, Ugochukwu Okoroafor, saying that the move was sequel to the bank's withdrawal of the operating licences of 20 Bureau De Change, (BDC).
Meanwhile, the Central Bank has also announced that the Retail Dutch Auction System (RDAS) would take effect from Oct. 2, following the suspension of the Wholesale Dutch Auction System (WDAS) at the official foreign exchange market.- premium times
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