{"id":9012,"date":"2016-10-14T16:32:14","date_gmt":"2016-10-14T15:32:14","guid":{"rendered":"http:\/\/nationalwire.com.ng\/?p=9012"},"modified":"2016-10-14T16:35:36","modified_gmt":"2016-10-14T15:35:36","slug":"firstbank-now-sole-foreign-exchange-dealer-to-bdcs","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/firstbank-now-sole-foreign-exchange-dealer-to-bdcs\/","title":{"rendered":"\u2018FirstBank now sole Foreign Exchange Dealer to BDCs\u2019"},"content":{"rendered":"

\"\"<\/a><\/p>\n

\u2018FirstBank now sole Foreign Exchange Dealer to BDCs\u2019<\/strong><\/p>\n

Following the complicity of some banks in handling foreign exchange transaction with Bureau de Change (BDC) in the domestic economy, the Central Bank of Nigeria (CBN) has announced FirstBank the sole authorized dealer for foreign exchange proceeds to\u00a0licenced\u00a0Bureau de Change operators.<\/p>\n

According to First Bank, the announcement is coming on the heels of the Bank\u2019s strengthened money transfer services as well as its strict compliance to CBN\u2019s rules and directives on the sale of foreign exchange.<\/p>\n

The Bank had consistently sold dollars to over 500 BDCs as directed by the CBN to improve dollar liquidity and strengthen the Naira in line with the new flexible foreign exchange policy.<\/p>\n

FirstBank in a statement described CBN\u2019s pronouncement as a testament to the Bank\u2019s strong financial base and its avowed support to the growth and development of a sustainable national economy.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

The Bank\u2019s Chief Financial Officer, Patrick Iyamabo, recently noted that the Bank will continue to strive to maintain its position as the safest and most respected banking franchise in the country.<\/p>\n

He said: \u201cWe would continue to leverage our unique ability to grow and capitalize the institution \u2013 a testament to our solid track record. Our highest priority remains meeting the financing and banking needs of our customers, by providing world class services, knowledge and expertise to support them, even in very difficult times.\u201d<\/p>\n

The Bank said it remains committed to corporate governance principles and would continue to ensure that dollars sales to the BDCs continue in a seamless manner for ease of distribution to the end users.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

\u2018FirstBank now sole Foreign Exchange Dealer to BDCs\u2019 Following the complicity of some banks in handling foreign exchange transaction with Bureau de Change (BDC) in the domestic economy, the Central Bank of Nigeria (CBN) has announced FirstBank the sole authorized dealer for foreign exchange proceeds to\u00a0licenced\u00a0Bureau de Change operators. According to First Bank, the announcement …<\/p>\n","protected":false},"author":11,"featured_media":8232,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17,624],"tags":[36,818,740,575],"coauthors":[2392,2393],"class_list":["post-9012","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","category-politics","tag-cbn","tag-ndic","tag-nse","tag-sec"],"yoast_head":"\n\u2018FirstBank now sole Foreign Exchange Dealer to BDCs\u2019 - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/firstbank-now-sole-foreign-exchange-dealer-to-bdcs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018FirstBank now sole Foreign Exchange Dealer to BDCs\u2019 - National Wire\" \/>\n<meta property=\"og:description\" content=\"\u2018FirstBank now sole Foreign Exchange Dealer to BDCs\u2019 Following the complicity of some banks in handling foreign exchange transaction with Bureau de Change (BDC) in the domestic economy, the Central Bank of Nigeria (CBN) has announced FirstBank the sole authorized dealer for foreign exchange proceeds to\u00a0licenced\u00a0Bureau de Change operators. 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