CBN mandates BDCs to sell unutilised FX to NFEM within 24hrs

•May confiscate unutilised balance By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, has directed Bureau De Changes, BDCs, to sell unutilised foreign exchange (FX) balances to the Nigerian Foreign Exchange, NFEM, market within twenty-four (24) hours of the expiry of the utilisation period. The apex bank disclosed this in its regulatory guidance on purchase of…