November 23, 2024

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Nigeria Increases Capital Requirements for Currency Dealers Nearly Sixtyfold to $1.4 Million

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Nigeria Increases Capital Requirements for Currency Dealers Nearly Sixtyfold to .4 Million
Nigeria Increases Capital Requirements for Currency Dealers Nearly Sixtyfold to .4 MillionThe Central Bank of Nigeria has increased the capital requirements for national bureau de change operators from approximately $24,000 to $1.4 million. The central bank has given operators a six-month period to comply and they must apply for new licenses. The bank’s director for risk management stated that street trading of foreign exchange is now […]