Following the unavailability of dollars, the Bureau De Change operators have announced closure of activities in Abuja as a result of unavailability of dollars.

Abdulahi Dauran, the association’s Chairman, on Wednesday confirmed the closure to online business transactions and cryptocurrency.

He attested that the closure of business would take effect from Thursday, February 1, 2024.The naira closed at an low rate of N1,482 US dollar on the official window on Tuesday while on the parallel market, it remained stable at N1,450/$.

The development is coming amid fresh moves by the Central Bank of Nigeria to stabilise the nation’s volatile exchange rate.The apex bank on Wednesday ordered Deposit Money Banks to sell their excess dollar stock by February 1, 2024.

The new directive also introduced a set of guidelines which was aimed at reducing the risks associated with these practices.

The CBN also warned lenders against hoarding excess foreign currencies for profit.

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