Nigeria Resumes Dollar Sales to Money Changers Amid Naira's Decline

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The Central Bank of Nigeria resumed selling US dollars to money changers to address the falling value of the naira.

This decision came after the naira-to-dollar exchange rate dropped to a low of NGN1,639 per dollar, likely due to increased demand for US dollars for travel and business.

The central bank has outlined rules for money changers participating in this program, including a one percent markup on the purchase price and designated locations for submitting applications